Accord Financial Corp's CEO Ken Hitzig Talks to The Wall Street Transcript.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 11, 2000 The Wall Street Transcript has published an in-depth interview with Ken Hitzig, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Accord Financial (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ACD (Automatic Call Distributor) A computerized phone system that responds to the caller with a voice menu and connects the call to the appropriate agent. It can also distribute calls equally to agents. ), in which he talks at length about the company's future. The entire 2,400-word interview is available free online at http://www.twst.com/ceos.htm Hitzig gives an overview of the company. "Accord Financial Corp. is a holding company, which in turn has a 100% ownership interest in three separate factoring companies and a 50% interest in a fourth. The three operating units are Accord Business Credit, Inc., which is a non-recourse, old-line factoring Old-line factoring Factoring arrangement that provides collection, insurance, and finance for accounts receivable. company based in Canada; Montcap Financial Corporation, which is a recourse factoring company, also based in Canada; and JTA (Java Transaction API) A programming interface (API) from Sun for connecting Java programs to transaction monitors such as IBM's CICS and BEA's Tuxedo. JTA is part of Sun's J2EE platform. See J2EE. Factors, Inc., which is a recourse factoring company based in Greenville, South Carolina
Greenville is a mid-sized city located in the upstate of South Carolina. It is the county seat of Greenville CountyGR6 . Our fourth investment, which is small at the moment, is in a company called MFI MFI Microfinance Institution MFI Money Flow Index MFI Melt Flow Index MFI Median Family Income MFI Malaria Foundation International MFI Massachusetts Family Institute MFI Multi-port Fuel Injection (automobile) Export Finance, Inc., which is based in Canada." Hitzig explains, "JTA, in South Carolina, is enjoying record activity. Competition is very keen. There are over 300 companies in that field in the United States. However, JTA has some advantages in that it has been around for over 20 years, with low overhead and extremely competitive pricing. Consequently they've grown very nicely. They grew by over 50% in 1999, and we're expecting growth to be more moderate for 2000." Looking forward, Hitzig states, "I would expect that Montcap and JTA will probably be at least double their size, if not more in three years, but I've got to be realistic. There's a cloud on the distant horizon, and that is, there's always the threat of a recession. Right now, everybody looks like a hero over the last five years because we've had nothing but sunny skies." This interview is part of a 94-page Specialty Finance Industry Issue available at http://www.twst.com/info/info168.htm or by calling (212) 952-7433 The Wall Street Transcript is a premier weekly investment publication serving serious long-term investors for over 37 years. The Wall Street Transcript has launched a new free service where investors can ask Accord Financial (or any public company) a question at http://www.qawire.com The Wall Street Transcript does not endorse the views of any interviewees nor does it make stock recommendations. For subscription information call (800) 246-7673. |
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