In an excerpt therefrom in which Mr. Cox stated:
Mr. Speaker, many thoughtful words are spoken in this Chamber in favor of increasing the productivity, efficiency, and competitiveness of American business. Often, we are asked to look abroad at Japan, the four tigers of Asia, or the rejuvenated Europe 1992 for examples for emulation by American business or industry. Yet as most of us know, we need look no further than our backyards for inspiring examples of business leadership, vision, and wisdom. I am proud, today, to honor one such example, Bruce W. Barren, Chairman of The EMCO/Hanover Group.
As prominent southern California business and community leader, Mr. Barren has excelled as a `corporate doctor,' bringing survival capital to companies in need, applying his corporate expertise to restructure and reenergize businesses. As an investment banker and turnaround specialist, Mr. Barren has been credited with helping save more than 100 individual companies, representing more than 50,000 jobs in California, and the equivalent of more than $1 billion in annualized payroll. These restructured companies have in turn contributed to our growing export resurgence and to a reduction in American balance of payment deficits.
In addition to providing his hardheaded business remedies to troubled enterprises, Mr. Barren has been generous in the contribution of his time and expertise to State and local civic and governmental organizations with the object of generating business growth and attracting new businesses to the State of California, Orange and Los Angeles Counties. He is particularly noted for his contribution to private sector liaison: `One Stop' California Business, an information exchange involving State, county, and city economic agencies, committees, and commissions.