Duane Morris partner James J. Holman moderated our panel discussion, which featured Peter Chadwick and Haywood Miller of BRG, along with Duane Morris partners Mairi V. Luce and Lauren Lonergan Taylor. Holman began by framing recent paradoxes:

"Within the past 18 months, corporate profits have been at record highs, the country added about 200,000 jobs per month, unemployment was below 6 percent, the U.S. Gross National Product was the best of all the OCED countries, the dollar was at its strongest level in years, the stock market was near record highs, gasoline prices have fallen, there is virtually no inflation, interest rates are the lowest in 30 years, U.S. oil imports are declining, U.S. oil production is rapidly increasing, the deficit is rapidly declining, and, last year, U.S. voters handed control of both houses to the president’s opposition.”

“If that’s not a contradiction, I don’t know what is,” said Holman. “So something is clearly amiss here.” These inconsistencies lend themselves to an examination of how the bankruptcy landscape unfolds across sectors of the U.S. economy. After all, noted Holman, “In 2012, the federal government did about $516.3 billion worth of business with private contractors. In 2013, the federal government shut down."

In an economy of surprises, what comes next? What industries will be impacted?