Comments on: Wow what a show! The DBA conference had a record turnout!

By: phil

phil — Wed, 17 Mar 2010 17:05:01 +0000

Here is the attendance numbers firm the DBA show
Phillip,

Total attendance was 1407 and 419 of that was vendors.

Janet Skelly
Manager of Membership & Programs
DBA International
Association Management Group (AMG

By: Walt Collins

Walt Collins — Mon, 15 Mar 2010 13:52:10 +0000

Philip, thank you for honoring me by asking me to contribute to your fine
publication. As an ‘old timer’ in the industry, and long retired, I was, as
you know, reluctant to comment on this wonderful industry that is now in the
grasp of very fine young (to me) professionals, such as yourself. I’ve never
been more proud of the quality of people that have been drawn to our segment
of the business world. However, after reflecting on the DBA conference last
month, there was one aspect of the conference that left me with a feeling of
‘deja vu, all over again’, which is not healthy for the industry that I
would like to discuss.

I first want to point out that I believe our conference was a major success.
The attendance, number and quality of vendors, and the incredible vibrancy
reminded me of years long past. Much had to do, I believe, with the excited
‘new-comers’. These included Hedge Funds, Private Equity Firms, Substantial
Investors and others interested in the business. This is the ‘life blood’
for providing an ongoing industry. I could not have been more pleased and
excited myself.

I must address the negative aspect of ‘deja vu’, though. I was a founding
board member of the DBA and it’s second president. I took, very serious, the
‘passing of the gavel’. I worked hard on an acceptance speech, one that
would show how honored I was and sincere in doing it justice. Having felt
thoroughly prepared I attended the opening reception (we had over 400
attendees. I thought I was really something). It had the excitement and
vibrancy of our recent conference. However, listening to conversations at
our booth and ‘mixing and mingling’, I was astonished to hear from so many
new, yet sophisticated people, that enormous returns were deemed to be a
‘no-brainer’ in our world. One comment I will never forget was,”it’s like
picking diamonds up off the street’. Another was,”how can I ever lose buying
debt at five cents”. I tore up the acceptance the next morning and focused
nearly the entire speech on those comments. I wanted to bring reality to our
market or endure the problems that would surely follow. The only comment I
can remember, vividly, was, “and if you think you can buy debt for five
cents and have no downside, I promise you that you can lose your entire
nickel”!!!

Unfortunately that very thought process is permeating many of our potential
new participants. There are seminars being conducted and publications
espousing the ‘get rich quick’ theme. I was especially shocked at the high
level of sophistication of those that truly believed that purchased debt
returns cost, cost of collections, plus a return of the initial cost of the
debt in year one, i.e., recovery of three times cost in one year. Philip, if
this is truly occurring please let me know as I’ll be returning from
retirement.

The point I am making is obvious. This is not healthy for our industry. It
can only cause problems long term. I believe it’s our duty and
responsibility to ‘tell it like it is’. The new entrants will be the
potentially viable ones that our growth needs. The others should leave
feeling good about the character and integrity of our industry.

Philip, again, thank you for remembering me and allowing me to share these
thoughts with our industry. Walt

By: Cary

Cary — Wed, 17 Feb 2010 18:11:03 +0000

Thanks for all the help!

By: Lee Wind

Lee Wind — Mon, 15 Feb 2010 13:31:06 +0000

Though recovery rates are historically low and restrictive legislation at an all time high, prices for certain categories of debt has also dropped commensurately. Such a climate forces firms to refine operations in order to continue to remain in the black. Our firm, Aries Data Collections, has met all of the challenges of the present environment and is generating excellent returns for our investors and clients who outsource their judgment collections to us. Slow and steady stays well ahead in the race. It can only get better. Regards, Lee Wind and Matt Blake.

By: Mr. Johnson

Mr. Johnson — Mon, 15 Feb 2010 13:21:09 +0000

We met many new buyers and people from foreign countries looking to buy debt. It was apparent that many people were just kicking the tires on the industry.

By: Chris G

Chris G — Sun, 14 Feb 2010 16:58:12 +0000

Your approach to my questions was interesting and made me think. I have appreciated the emails for many years even though at times they seem to come too often. The content does make me think and often provides insight into the industry as a whole.
It was nice of you to spend some time with me in your busy booth. The handout was also informative keep up the good work Phil.

By: Brian

Brian — Sun, 14 Feb 2010 15:17:02 +0000

You had the best looking girls at the show Phil and it seemed to pay off.

By: Jim

Jim — Sun, 14 Feb 2010 12:52:46 +0000

It was a pleasure to meet you and the booth staff and your knowledge and suggestions have prompted us to change our business strategy. The simple suggestions to our proposed business plan have decreased our exposure, decreased operating costs and will result in increased ROI.
I am sure we will be doing business together.
Jim

By: Deanna

Deanna — Sat, 13 Feb 2010 19:52:09 +0000

Hello had a great time at the DBA Conference!!! Thank you so much to Phil and Ron at Lighthouse for your hospitality. I really learned a lot from you both and your colleagues. Such an interesting business, everyone was very sweet, taking the time to en-Lighthouse me

Looking forward to working with you again soon.
Deanna ‘Booth Babe’ Reynolds