The job market is grim on Wall Street, but in one little corner of the financial world, managers can’t read resumes fast enough, Bloomberg reported today. The turnaround expert is in hot demand. With company after company in oil, coal, retail and other industries in distress — the Bloomberg Bankruptcy Index is at a six-year high — business is booming. Banks are assembling or expanding teams, with several firms hiring, often within a circle of familiar faces. Much of the activity has been tied to the slide in oil prices. Crude may be rebounding, but it’s still down more than 50 percent over the past two years. Coal producers are suffering as much as ever. Energy companies made up 80 percent of corporate bankruptcy cases last year, according to data compiled by Bloomberg, tracking companies with more than $500 million of debt. In the past 12 months, a total of 56 companies filed for chapter 11 with a combined $146 billion in debt. The specialists anticipate opportunities far afield from commodities.
