April 13, 2010

The year was 1990.  The cold-war between the east and the west which spanned several decades finally came to an end, the Hubble Space Telescope was launched, and Germany became one country again.  And oh yeah, by the way, that’s also the year that Professional Recovery Services, the dream and vision of our President & CEO was launched and became a reality.

A lot has happened over the past 20 years to shape and mold PRS into the company it has become today.  From beginning with one small office and a collection floor that would fit in the break-room in any of our offices now, to rapid growth, moving to a new facility, expanding that facility several times and then completely renovating it, to opening additional offices including our facility in Las Vegas which has allowed us to become a presence in the western half of the country while expanding the company as a whole, we have witnessed the metamorphosis of what was once only a dream growing into the huge thriving successful receivables management business that PRS has become today.

Along the way we’ve managed to assemble a management team that is 2nd to none in the industry, both by selectively bringing in some of the top professionals in their fields of the collection business as well as grooming and developing talent we have recognized from within.  We have also been fortunate enough to forge solid partnerships with some of the top financial institutions in the world.  We take great pride in the fact that our relationships with these partners have grown even stronger over time as they have become accustomed to receiving the high level of service we provide each of them on all levels.

You might expect that on June15th as we celebrate the 20th anniversary of Professional Recovery Services, we will look around and feel a tremendous sense of having “arrived”.  While we are very proud of what the last 20 years has seen PRS become and we will no doubt take a moment to reflect on just that, there is by no means a sense of having reached a destination.  In fact it’s quite the opposite.  As we celebrate this milestone plans are already underway for our next phase of growth.  In addition to continuing to expand the collection centers we currently operate, we’re looking at opening another collection center with a target date of sometime during the 4th quarter of 2010.  This will allow us to continue to expand our capacity to handle more and more work from our existing clients who want to give PRS a larger portion of their portfolios due to our performance and service, as well as an ability to accommodate new partnerships with perspective clients looking to come on board and receive the same high level of service that our existing clients enjoy.

20 years is certainly a long time, but to PRS 20 years was just the beginning.  The ground work has now been laid and the infrastructures as well as the team of key personnel are now in place.  Just stand back and watch what happens from here!

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LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (the “Company”) (NYSE: HPP) today revised its full-year 2012 FFO guidance to a range of $0.83 to $0.87 per diluted share (excluding acquisition-related expenses), compared to the prior 2012 FFO guidance range of $1.00 to $1.04 per diluted share. The Company recently completed the public offering of 13,225,000 shares of the Company's common stock for net proceeds of approximately $190.8 million (after underwriter discount). The Company

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Fitch: US Investors Are Outlet for EU Infrastructure, at a Price

NEW YORK--(BUSINESS WIRE)--Fitch Ratings expects the rise in U.S. investor interest in European Community (EC) infrastructure products to be tempered by several structural and regulatory challenges. Issuers of project and infrastructure debt in the EC are facing substantially less bank financing capacity than anticipated and are seeking capital markets options to fund investment. Regulatory hurdles, currency issues, and the need for wider spreads are likely to make it more challenging to attract

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Fitch: U.S. CREL CDO Delinquencies Rise Minimally

NEW YORK--(BUSINESS WIRE)--The slow upward trajectory in late-pays continued this past month for U.S. CREL CDO delinquencies, according to the latest index results from Fitch Ratings. U.S. CREL CDO delinquencies rose slightly in April to 13.9% from 13.6% in March, according to the latest index results from Fitch Ratings. New delinquent assets in April consisted of the following:--Four matured balloon loan interests; and--Two newly credit impaired CMBS bonds. Offsetting these new delinquencies we

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Fitch: U.S. High Yield Default Rate to Top 2% in May; 67% of Missed Payments Lead to Bankruptcy

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A.M. Best Revises Outlook of Issuer Credit Rating to Positive for Trans-Oceanic Life Insurance Company

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