Whats happening with the WPBA Tour?

[av84fun]

Jim

I never slammed anybody.

You may not have intended to but you did nevertheless.

The decisions needed to be made and they have resulted in some very difficult consequences. That makes them "regrettable".

No. "Regrettable decision" suggests that the decision it self was regretable...not that the decision was sound bnut had a surprisingly regretable outcome.

I figured that I'd give you the customary pat on the back for this post as you seem to be nipping at my ass on more than one forum.

Well, somehow, I don't see the pat on the back but that is perfectly OK. And I am not nipping at your a$$ or any other body parts. I don't recall responding to any of your posts on the BD forum which is the only other one I post to. Do you have a differenct screen name there?

The specifics that relate to those decisions have been well documented here and on the other forums and their websites.[/QUOTE}

If that is true, why in the world would you be reluctant to mention those decisions here?

In fact, it is you, sir, who is doing the nipping, including ridiculing DCP for posting a simple and appropriate question.

Me trolling the thread??? ROFLMAO. He who smelt it, dealt it.

(-:

 

[Blackjack]

As a current member of the Board of Directors for the WPBA, I'd like to make a few comments that might clear up any questions/rumors.

First, it is true that PL Promotions has resigned their position with the WPBA. This was not a decision made by the WPBA...it is a decision made by PL Promotions for their own reasons. This is an obstacle for the WPBA to overcome....but nothing disastrous by any means. Employees come and go in every organization in existence...it's how business works. Peg and Jay will be missed...but the WPBA will go on.

Second, the WPBA has a full schedule for next year, contrary to rumors. Thank you Melinda for posting it. And the cancellation of the pro event in Vegas was not a WPBA decision...it was a BCA decision. There will still be an event....it will just be in Charlotte this year instead of Vegas. And as for the schedule (the long break between tournaments referred to by johnnyt)...that is par for the course. We normally have 3-4 months off over the winter season. Nothing unusual about it.

The phrase "regrettable decisions" is a regrettable choice of words in my opinion. No offense David...but that statement really rubs me the wrong way. As a board member, I don't regret any decisions that we have made. We have a tough job, and sometimes it looks like we make questionable choices to those who don't have all the info. Our job is only made more difficult when people who do not have all the facts get out there and share the limited info they have as gospel. Yes, some of you know players who have shared info with you. But unless that player is a member of the current board or PL Promotions....they do not have a full story. They have their versions. I'm not criticizing anyone...I'm just saying that people should be less quick to judge until they have all the info available.

And as for anyone knocking Linda Chen...you just don't know what you are talking about. When things go wrong, people need a scapegoat or a bad guy...and for some reason, she has become that scapegoat. It's ridiculous. She is one of 7 votes....with no more power or influence than any other board member.

Yes, I am sure this post sounds defensive...and it is. Because it is truly unfair for people to make snap judgments and speculative statements based solely on rumors and half-truths.

This is probably the only post that I will write on the subject. I would love to answer direct questions, but the info is not solely mine to share. If there are any constructive or thoughtful questions...I will do my best to answer. I will not entertain any gossipy questions or ones that are designed to stir the pot.

Best Regards and Happy Holidays,

Melissa Herndon

Melissa

As your friend, I apologize for offending you with my comments. That was not my intention. As someone that supports pool, the players, and such, I will retain my right to my opinion on this matter with the facts that I have been given. As far as insinuating that myself and others don't have all the facts, I realize that I don't have as much information as you, however I do have enough information to form an educated opinion. I stick to my guns on the choice of using the word "regrettable" - as losing PL Promotions as a result of any decision should be described as such, and nothing you or anybody else can say will change my mind about that.

 

[Scott Lee]

Melissa...Thank you for your comments. I would personally have to side with Dave on the term "regrettable decisions". The WPBA board has certainly appeared to make some less than intelligent decisions recently. I will be happy to point one out...purely from my perspective. The WPBA had the opportunity, AT NO COST to the organization (and with 0% of any revenues going to the originator of the project), to take advantage of a credit card program that would have put the faces of WPBA members on credit cards, and generated immediate substancial income for both the organization and the individual players. Would some players have received more financial gain, as a result of a higher degree of 'popularity'? Yes...even so, for the board to not even consider this proposal was, in my mind, a 'regrettable decision'! This would have been a highly visible way to mainstream women's professional billiards, as well as a viable way to support your favorite WPBA players! This is just one example...

Scott Lee
www.poolknowledge.com

The phrase "regrettable decisions" is a regrettable choice of words in my opinion. No offense David...but that statement really rubs me the wrong way. As a board member, I don't regret any decisions that we have made. We have a tough job, and sometimes it looks like we make questionable choices to those who don't have all the info. Our job is only made more difficult when people who do not have all the facts get out there and share the limited info they have as gospel. Yes, some of you know players who have shared info with you. But unless that player is a member of the current board or PL Promotions....they do not have a full story. They have their versions. I'm not criticizing anyone...I'm just saying that people should be less quick to judge until they have all the info available.

Melissa Herndon

 

[Melissa Herndon]

Melissa

As your friend, I apologize for offending you with my comments. That was not my intention. As someone that supports pool, the players, and such, I will retain my right to my opinion on this matter with the facts that I have been given. As far as insinuating that myself and others don't have all the facts, I realize that I don't have as much information as you, however I do have enough information to form an educated opinion. I stick to my guns on the choice of using the word "regrettable" - as losing PL Promotions as a result of any decision should be described as such, and nothing you or anybody else can say will change my mind about that.

PL's resignation was not a direct effect of any decision made by the WPBA Board. Anything you have heard to the contrary is inaccurate.

 

[Melissa Herndon]

Melissa...Thank you for your comments. I would personally have to side with Dave on the term "regrettable decisions". The WPBA board has certainly appeared to make some less than intelligent decisions recently. I will be happy to point one out...purely from my perspective. The WPBA had the opportunity, AT NO COST to the organization (and with 0% of any revenues going to the originator of the project), to take advantage of a credit card program that would have put the faces of WPBA members on credit cards, and generated immediate substancial income for both the organization and the individual players. Would some players have received more financial gain, as a result of a higher degree of 'popularity'? Yes...even so, for the board to not even consider this proposal was, in my mind, a 'regrettable decision'! This would have been a highly visible way to mainstream women's professional billiards, as well as a viable way to support your favorite WPBA players! This is just one example...

Scott Lee
www.poolknowledge.com

Hi Scott,

I'm not sure at all what you are referring to. This proposal (as you have stated it) was never brought before the WPBA Board...so we could not have turned it down. Unless it was part of a bigger proposal that was turned down (in which case I still do not recall ever seeing anything like this)...I'd have to think that you got some bad information somewhere along the line.

This is a prime example of what I was referring to though. You have heard as fact that the board turned this offer down....but the reality is that we have heard nothing about it. Yet we are being judged for making a poor decision in this case.

Melissa

 

[av84fun]

Melissa...Thank you for your comments. I would personally have to side with Dave on the term "regrettable decisions". The WPBA board has certainly appeared to make some less than intelligent decisions recently. I will be happy to point one out...purely from my perspective. The WPBA had the opportunity, AT NO COST to the organization (and with 0% of any revenues going to the originator of the project), to take advantage of a credit card program that would have put the faces of WPBA members on credit cards, and generated immediate substancial income for both the organization and the individual players. Would some players have received more financial gain, as a result of a higher degree of 'popularity'? Yes...even so, for the board to not even consider this proposal was, in my mind, a 'regrettable decision'! This would have been a highly visible way to mainstream women's professional billiards, as well as a viable way to support your favorite WPBA players! This is just one example...

This may be gettting the thread off on the tangent line..but my "day job" is in the world of investment management and I can tell you for a fact that there is a train wreck brewing in the credit card world that will be AT LEAST as significant as what is happening in the mortage market.

Simply put, a huge percentage of credit card issuers are "predatory lenders" and the resulting defaults on credit cards are SKYROCKETING as this is being written.

I have one client with a pristine payment record who had one of her credit card interest rates jacked to 31% because she was a few days late ON ONE SINGLE PAYMENT!

That sort of thing is happening all over America and I guarantee you will make national headlines when the investment media begins to pick up on stories like that.

I have no idea what led the WPBA board to take a pass on associating itself with any particular credit card issuer but if the above scenario had anything to do with it then the board is to be congratulated not criticized.

Regards,
Jim
EDIT: This was posted before I read Melissa's direct response.

 

[Russ Chewning]

Melissa...Thank you for your comments. I would personally have to side with Dave on the term "regrettable decisions". The WPBA board has certainly appeared to make some less than intelligent decisions recently. I will be happy to point one out...purely from my perspective. The WPBA had the opportunity, AT NO COST to the organization (and with 0% of any revenues going to the originator of the project), to take advantage of a credit card program that would have put the faces of WPBA members on credit cards, and generated immediate substancial income for both the organization and the individual players. Would some players have received more financial gain, as a result of a higher degree of 'popularity'? Yes...even so, for the board to not even consider this proposal was, in my mind, a 'regrettable decision'! This would have been a highly visible way to mainstream women's professional billiards, as well as a viable way to support your favorite WPBA players! This is just one example...

Scott Lee
www.poolknowledge.com

Holy Moly! Is this true????????

Russ

 

[sjm]

To all, I say "have a little faith."

In recent times, there has been just one great success story in American pro pool, and it is known as the WPBA. It has been around for thirty one years and has experienced continual growth. The ladies of the WPBA have always had their act together, and the result has been a tour having great and growing international diversity, a continually increasing standard of play, a great regional tour system ensuring continual replenishment of the talent base, and a prize fund that has grown very significantly in recent years.

Those associated with the WPBA tour have always been passionate about its operations and its future, and women's pro pool is a great product because of it. The current leadership is dedicated and astute, undeserving of the harsh rushes to judgment contained in this thread.

As an event producer and coordinator, Peg Ledman has contributed greatly over the years, and there can be no denying that her resignation is a setback for the organization, for she did a great job over the years. Nonetheless, the resilient ladies of the WPBA will persist, as they always have, and the show will go on.

Have a little faith in the only organization in American pro pool that has stood the test of time. I have every confidence that the ladies of the WPBA will continue to deliver a superior and sustainable professional pool product.

 

[pooltchr]

I'm just thrilled to see that here in North Carolina, we will have two opportunities to see them this year...the Durham stop as well as the Open that will be held in Charlotte at the BCA Expo. With at least a half dozen of the top players living in Charlotte, it will be interesting to see who steps up to claim the "home field advantage".
Steve

 

[Scott Lee]

Melissa...I did not get 'bad information'...it came straight from the person who originated the offer, who btw, has worked directly with most of the largest banking corporations in the world, and is highly regarded in the industry. He also plays pool and is a poster here, so he can comment if he chooses to. It may not have been brought before the entire board...simply because the idea was apparently "poo-poohed" by SOME members of the board immediately when they heard about it, when it was presented to them in person. Perhaps you need to visit with the entire board in your next meeting, and find out who, on the board, made the decision not even to bring the idea up.

Scott Lee
www.poolknowledge.com

Hi Scott,

I'm not sure at all what you are referring to. This proposal (as you have stated it) was never brought before the WPBA Board...so we could not have turned it down. Unless it was part of a bigger proposal that was turned down (in which case I still do not recall ever seeing anything like this)...I'd have to think that you got some bad information somewhere along the line.

This is a prime example of what I was referring to though. You have heard as fact that the board turned this offer down....but the reality is that we have heard nothing about it. Yet we are being judged for making a poor decision in this case.

Melissa

 

[av84fun]

To all, I say "have a little faith."

In recent times, there has been just one great success story in American pro pool, and it is known as the WPBA. It has been around for thirty one years and has experienced continual growth. The ladies of the WPBA have always had their act together, and the result has been a tour having great and growing international diversity, a continually increasing standard of play, a great regional tour system ensuring continual replenishment of the talent base, and a prize fund that has grown very significantly in recent years.

Those associated with the WPBA tour have always been passionate about its operations and its future, and women's pro pool is a great product because of it. The current leadership is dedicated and astute, undeserving of the harsh rushes to judgment contained in this thread.

As an event producer and coordinator, Peg Ledman has contributed greatly over the years, and there can be no denying that her resignation is a setback for the organization, for she did a great job over the years. Nonetheless, the resilient ladies of the WPBA will persist, as they always have, and the show will go on.

Have a little faith in the only organization in American pro pool that has stood the test of time. I have every confidence that the ladies of the WPBA will continue to deliver a superior and sustainable professional pool product.

TAP TAP TAP

 

[av84fun]

Melissa...I did not get 'bad information'...it came straight from the person who originated the offer, who btw, has worked directly with most of the largest banking corporations in the world, and is highly regarded in the industry. He also plays pool and is a poster here, so he can comment if he chooses to. It may not have been brought before the entire board...simply because the idea was apparently "poo-poohed" by SOME members of the board immediately when they heard about it, when it was presented to them in person. Perhaps you need to visit with the entire board in your next meeting, and find out who, on the board, made the decision not even to bring the idea up.

Scott Lee
www.poolknowledge.com

Scott, I hope we're pals before and after this post but, in fact, the "largest banking corporations in the world" were the MAIN players in the disastrous sub-prime lending practices that are now crippling the real estate market in this country.

Many of the CEOs of those institutions have been fired or are about to be.

These SAME corporations are engaging in predatory credit card lending practices and a train wreck as large as the current real estate wreck is going to erupt next year.

If the poster you mention as being a poster here is not associated with such an institution then good for him/her...but the odds heavily weigh against and of the majors not being involved in predatory practices.

Again, if that is the reason that ANY WPBA member took a pass...so as not to participate in one of the largest financial scandals of all time...then good for them.

Regards,
Jim

Regards,

 

[Scott Lee]

Jim...No worries there. He was "associated" with them, as a consultant. He's a retired gentleman, and prefers to stay that way. All he wanted to do was provide a revenue stream for WPBA players...which, in my heart, I have to believe is a good thing. The problem, as I understand it, is that NO player even got the opportunity to participate or pass, because the idea was rejected by "upper management", before the board even got a chance to know about it.

No matter what lending practices the banks/credit card companies use or misuse, it is still the consumer's option to participate. Those that get caught up in the misuse of blatent credit card scams were mostly already in financial trouble, and just looking for more credit.

Scott Lee
www.poolknowledge.com

 

[ShootingArts]

don't know about that

Scott,

Credit card companies can totally blindside anyone. Many years ago I had a VISA and competitive rates. I owed about 12K or so on it, not a big deal since I had a nice income. They sent me a letter almost tripling my interest rate to "encourage me" to pay down the account! This was and is one of the biggest players in the credit card world and they still send me offers for plastic many times a year.

I paid it down alright, one check that day and never spent another dime on that card. I have never owned a VISA since then although I know it was the individual corporation not VISA that pulled that BS. Fact is I got fed up with credit cards and did away with all of them. Now I use my bank credit/debit card to pay at the gas pump and order things over the net.

Hu

No matter what lending practices the banks/credit card companies use or misuse, it is still the consumer's option to participate. Those that get caught up in the misuse of blatent credit card scams were mostly already in financial trouble, and just looking for more credit.

Scott Lee
www.poolknowledge.com

 

[Fragged]

I can help a little bit... the WPBA has sent their 2008 calendar to the Regional women's tours... so they do have dates/events already for 2008:


Odawa Casino, Petoskey, MI, March 12-26
Viejas Casino, Alpine, CA, April 9-13*
Blue Chip Casino, Michigan City, IN, June 25-29
Riverwind Casino - Chickisaw, Norman, OK, July 30-Aug 3
America Tobacco Historic District, Durham, NC, Sept. 10-14
Chinook Winds Casino, Lincoln City, OR, Oct. 1-5*
Hard Rock - Seminole Sports Mgt, Hollywood, FL, Nov. 5-9*

*waiting on signed contracts, but most likely firm

The World Championships is in Taiwan 3/30-4/7 squeezed in between the first two events. This will be too rough a schedule for all but the young and hearty to attempt-too bad. When this occurred before Karen and Allison passed.

 

[av84fun]

Scott,

Credit card companies can totally blindside anyone. Many years ago I had a VISA and competitive rates. I owed about 12K or so on it, not a big deal since I had a nice income. They sent me a letter almost tripling my interest rate to "encourage me" to pay down the account! This was and is one of the biggest players in the credit card world and they still send me offers for plastic many times a year.

I paid it down alright, one check that day and never spent another dime on that card. I have never owned a VISA since then although I know it was the individual corporation not VISA that pulled that BS. Fact is I got fed up with credit cards and did away with all of them. Now I use my bank credit/debit card to pay at the gas pump and order things over the net.

Hu

Right! And there are 6 million other stories in the Naked City!

I don't want this thread to get deeply off topic and I understand Scott's point of view. Personally, I have zero sympathy for people who lied about their income to get loans to buy houses they couldn't afford in the first place. But I have LESS than zero sympathy for the mortgage lenders who ALLOWED "Liar Loans" as they are now called to be funded in the first place.

But now, practically everyone's home is worth much less than was the case a year ago and it is getting worse by the day and that is causing a LOT of financial strain because people had come to rely on home equity build up.

All I am saying is that for the lender to jack someone's interest rate to 31% because they missed the due date by a few days on ONE payment is sickening.

And right, you and I would just pay it off and never use that bank again but the poor slob who just got laid off or is in the hospital (which is what happened to my friend) may not be able to pay off the card.

If I was pitching anything to the WPBA, I would write a letter to the Board and copy EACH board member but on the other hand, there are executive officers of the WPBA who are...and should be if they are not...empowered to make day-to-day business decisions without bringing every proposal to the full board. If that was not the case then being a board member would be a full time job...which it is not intended to be.

Finally, as sjm points out, the WPBA is one of the great success stories in modern professional pool history. I am not aware that they are in any particular financial distress and passing on certain potential profit opportunities seems to have been an executive decision and I think we, as outsiders, ought to defer to the better judgment of those who are in the trenches on a daily basis.

But as for credit card issuers, below are the facts according to a recent extensive Associated Press study. Mark my words on this...next year the issue of credit card defaults is going to be THE BIG STORY for the year 2008 and every politician in the country is going to scramble to pass legislation that is going to shove a lot of that debt back down the throats of the lenders. I can think of better places to shove it...but we won't go there.

AP

Credit card defaults alarmingly high
Rate of credit card default seen surging as fallout from the subprime meltdown is spreading.

Here are some highlights

The value of credit card accounts at least 30 days late jumped 26 percent to $17.3 billion in October from a year earlier

Serious delinquencies also are up sharply: Some of the nation's biggest lenders -- including Advanta, GE Money Bank and HSBC -- reported increases of 50 percent or more in the value of accounts that were at least 90 days delinquent when compared with the same period a year ago.

The AP analyzed data representing about 325 million individual accounts held in trusts that were created by credit card issuers in order to sell the debt to investors -- similar to how many banks packaged and sold subprime mortgage loans. Together, they represent about 45 percent of the $920 billion the Federal Reserve counts as credit card debt owed by Americans.

Regards,
Jim

 

[av84fun]

Duplicate post

 

[Fatboy]

, in fact, the "largest banking corporations in the world" were the MAIN players in the disastrous sub-prime lending practices that are now crippling the real estate market in this country.

Many of the CEOs of those institutions have been fired or are about to be.

These SAME corporations are engaging in predatory credit card lending practices and a train wreck as large as the current real estate wreck is going to erupt next year.

the instituions created those sub-prime products only to make $$$ for themselfs not to be nice to the borrowers, they went after that market sector full blast and the people responded, to the "stated income" loans, who the hell isnt gonna lie about that?, when it means a new nice house or the same old apartment they were living in. Was is preratory lending or the people who lied and are called "predatory borrowers" that caused the problem?

i'm not knocking anyone here or picking sides just asking a question, I market to the sub-subprime market average FICO score in my data base is 425, they lie all day long, all a FICO score is an honesty guage did they tell the past creditor the truth or not, more nots the lower the score....The banks set them selfs up to get screwed by their own greed.

 

[Jaden]

Yes, but then we have a bigger problem....

the instituions created those sub-prime products only to make $$$ for themselfs not to be nice to the borrowers, they went after that market sector full blast and the people responded, to the "stated income" loans, who the hell isnt gonna lie about that?, when it means a new nice house or the same old apartment they were living in. Was is preratory lending or the people who lied and are called "predatory borrowers" that caused the problem?

i'm not knocking anyone here or picking sides just asking a question, I market to the sub-subprime market average FICO score in my data base is 425, they lie all day long, all a FICO score is an honesty guage did they tell the past creditor the truth or not, more nots the lower the score....The banks set them selfs up to get screwed by their own greed.

Sure the banks screw themselves, but they are gonna screw us even worse in the end. The banks that were greedy sell off these sub prime mortgages to the big mortgage companies, like fanny mae and freddy mac and then when all of these people default, they are stuck holding the bag and since 60% of corporate America's net assets are tied up in fanny mae and freddy mac bonds that puts our economy in some deep trouble if we keep having all of the defaults that it is looking like we are going to...

 

[COLLECTION GURU]

Scott Lee Got It Right

This may be gettting the thread off on the tangent line..but my "day job" is in the world of investment management and I can tell you for a fact that there is a train wreck brewing in the credit card world that will be AT LEAST as significant as what is happening in the mortage market.

Simply put, a huge percentage of credit card issuers are "predatory lenders" and the resulting defaults on credit cards are SKYROCKETING as this is being written.

I have one client with a pristine payment record who had one of her credit card interest rates jacked to 31% because she was a few days late ON ONE SINGLE PAYMENT!

That sort of thing is happening all over America and I guarantee you will make national headlines when the investment media begins to pick up on stories like that.

I have no idea what led the WPBA board to take a pass on associating itself with any particular credit card issuer but if the above scenario had anything to do with it then the board is to be congratulated not criticized.

Regards,
Jim
EDIT: This was posted before I read Melissa's direct response.

I KNOW I WILL REGRET THIS RESPONSE BUT THIS PROPOSAL WAS CONSTRUCTED BY ME AT MY OWN COST TO INCREASE REVENUES FOR THE WPBA AND THE BILLIARD INDUSTRY WITH NO INVESTMENT OR RISK. I HAVE MANAGED IN EXCESS OF 100,000,000 CREDIT CARD HOLDERS WORLD WIDE FOR VISA, CARTE BLANCHE, DINERS CLUB, CITI-BANK, BANK OF AMERICA AND AMERICAN EXPRESS. IN ADDITION, I HAVE INFLUENCED THE PURCHASE AND SALE OF DEBT FOR MANY MORE MILLIONS OF DEBTORS.

THE WPBA PROPOSAL NEVER GOT TO THE BOARD IN MY PRESENCE AS I WAS A CANCER I SUPPOSE BUT I PRESENTED THE OPPORTUNITY TO PAST BOARD MEMBERS WHO WERE IN OFFICE AT THE TIME. LOSSES ARE BUILT INTO THE PROFITABILITY MODELS OF THE CREDIT CARD ISSUERS AND WE WERE NEVER PROPOSING SUMPRIME BORROWERS AS THE ISSUING BANK OWNS THE CREDIT LOSSES AND WILL REQUIRE SOLID CREDIT QUALITY TO REMOVE THE AFFINITY GROUP FROM ANY COST OR RISK. THE 31% INTEREST RATE MENTIONED MEANS NOTHING IN ISOLATION AS WE DON'T KNOW THE CREDIT QUALITY BUT IT IS AN ATTEMPT TO INCREASE "REVENUE" IN THE SHORT TERM AND TO RECOUP COLLECTION COSTS IF POSSIBLE SHOULD THE DEBTOR PAY.

WHILE THERE ARE IDIOTS IN EVERY INDUSTRY, SOLID CREDIT CARD ISSUERS MANAGE THEIR LOSS RATES BY CREDIT QUALITY, AUTHORIZATION STRATEGIES, LINE INCREASE/DECREASE, CASH ADVANCE POLICY, FRAUD CONTROL, PROFITABILITY MODELS, COST OF FUNDS, COLLECTIONS, REAGING, SETTLEMENTS, DEBT SALE, ETC....... CREDIT LOSSES DO NOT MEAN IT IS A "LOSS" AS IT IS AN ACCOUNTING ENTRY MANAGED BY THE U.S. CONTROLLER OF THE CURRENCY TO KEEP BANKS BALANCE SHEETS WITH REASONABLE INTEGRITY. 100'S OF MILLION DOLLARS ARE COLLECTED FROM THE "LOSSES" AND BOOKED AS A (RECOVERY) ON THE BANKS BOOKS REDUCING LOSSES TO PRODUCE THE NET CREDIT LOSSES.

JIM'S SUGGESTION THAT THE REFUSAL TO PURSUE FOR CONSIDERATION WAS A BRILLIANT MOVE IS NONSENSE AS THE COLLECTION GURU WAS GOING TO MANAGE THE PROCESS FOR NO FEE AND REPRESENT THE WPBA WITH A MAJOR ISSUER WHO'S EVP WAS HIRED BY THE GURU 20 YEARS AGO AND HAS RISEN TO THE TOP IN THE INDUSTRY.

I AM WASTING MY TIME I KNOW AS PEOPLE DON'T READ ALL CAPS BUT WANTED TO SUPPORT SCOTT LEE'S NOTE AND ALSO MELISSA WHO IS QUITE CORRECT THAT IT NEVER WAS GIVEN AN AUDIENCE WITH THE BOARD AS MY ONLY REQUIREMENT TO PULL THIS OFF WAS THINGS HAD TO BE DONE MY WAY. NO ONE ON THE PLANET HAS THE BROADNESS OF MY RISK MANAGEMENT EXPERIENCE OR FOR THAT MATTER, THE BROADNESS OF MY ASS.

JIM IS RIGHT THAT LOSSES WILL RISE AS MANY SUB-PRIME LENDERS TOOK SOME RISKS ON ISSUING CARDS BUT ALSO MANY ISSUED SECURED CARDS WHICH PRESENT LITTLE RISK AS U.S. USAGE IS EASILY CONTROLLED AND THEY RETAIN A DEPOSIT EQUAL TO THE LINE OR IN SOME CASES, MANY TIMES THE ACTUAL CREDIT LINE. SEVERAL OTHER ORGANIZATIONS HAVE EXPRESSED AN INTEREST IN THIS CONCEPT AS YOU MAY HAVE SEEN ESPN WITH THEIR AFFINITY CARD.

ENOUGH FOR SCHOOL AND I WILL NOT DISCUSS ANY MORE DETAILS AS I TRIED AND FAILED SO I BLAME MYSELF FOR NOT ACCEPTING SEVERAL PLAYERS OFFER TO FORCE THE BOARD TO LISTEN TO THE THOUGHT. I DIDN'T WANT TO CREATE AN ISSUE AS I WAS JUST TRYING TO HELP THE LADIES OF THE WPBA.

RESPECTFULLY,

COLLECTION GURU