Letters.Factoring Debate As you reported on Sept. 16, GMAC Commercial Credit LLC was assigned the Mountain High Hosiery Ltd. account in January 2001 by virtue of its purchase of the factoring business of Bank of America N.A. and Banc of America Commercial Corp. Following the acquisition, we worked together with Mountain High to facilitate a smooth transition to GMACCC's accounting system. When Mountain High has had questions or needed clarification with respect to its account, we have responded promptly. These responses included the involvement and commitment of management at all levels of our organization to ensure required corrections and adjustments were made in a timely fashion. GMACCC processes millions of invoices each year for its factoring clients. Because of this huge volume, occasionally there may be errors that we routinely correct when they are brought to our attention. We value all of our clients. We work with them to address and rectify any problems with their accounts in an expeditious manner. We are disappointed that you would permit Mountain High to litigate through the press, where we had not yet responded to their allegations. As one of the largest providers of factoring services in the world, we continually strive for excellence and are dedicated to providing quality service with integrity. Jay Craig President and Chief Executive GMAC Commercial Credit Southfield, Mich. Turnout Turnabout If secession fails, it will not be because of Mark Lacter's List of Greater World Angst (Comment, Oct. 21). It will be because of a) lousy voter turnout; b) voters believing Bigger is Better propaganda; c) voters not of the Valley believing they will suffer if it happens, i.e., believe the politicians worried only about loss of power base, and possibly their jobs. It's about Home Rule home rule n. the power of a local city or county to set up its own system of governing and local ordinances without receiving a charter from the state which comes with certain requirements and limitations. The concept has become popular with so-called libertarians, survivalists, and others who would like to divorce local government from as much state regulation as possible. However, few cities and counties have chosen this route., stupid. Any change in the existing bureaucracy is a change for the better. David M. Callahan Los Angeles Price of Parking I read people's thoughts on downtown (LABJ Forum, Sept. 30 issue). I think the Staples Center is awesome and so are the Lakers, so I went to Staples to buy a customer a Lakers hat. I parked briefly in the loading zone -- there was no one there except for two cars with people sitting in them -- and ran into the store for 10 minutes. I paid $35 for the hat and returned to my car to find a $45 parking ticket. Certainly a great way to discourage anyone from going downtown to shop. George Simmons ABF Freight Systems Compton How to reach us LETTERS Please keep your letters brief. Include your name, address and daytime phone number on all submissions. We reserve the right to edit letters for brevity and taste. Send to Editor Los Angeles Business Journal, 5700 Wilshire Blvd., Suite 170, Los Angeles, CA 90036 FAX: (323) 549-5255 E-mail: letters@labusinessjournal.com GUEST OPINIONS Oped pieces generally run 750 words and are on topics of interest to the L.A. business community. Please send submissions to Editor, Los Angeles Business Journal at the above address. |
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