This past week we had our Quarterly Management Meeting at our offices here on Long Island. Once every three months we get our management team in one room to discuss “where we are” and “where are we going”. We make every effort to insure that everyone has an opportunity to speak their mind and to fully participate in all discussions. Finally we all walk away from the meetings with absolute deliverables (“how are going to get there” ) to insure that the meetings where not just an excuse to spend money on airline tickets, hotels and great food. This recent meeting happened to be better than most. Everyone on the team was very optimistic about the economy and excited about the future of RMP Capital. A lot of opportunities seem to be coming our way. We all left the meetings feeling confident about our factoring business and the niches that we serve. Contractors working on public works projects seem to be getting some of that stimulus money slowly but surely. The transportation market is working to shore up some capacity issues and increasing their availability. Small factors are taking hold in their local markets and growing their portfolio and small businesses all over the country are looking into alternate sources of funding now that banks are not very responsive to their need. I guess that it’s looking like the things are picking up a bit and that 2010 could end on a positive note –that’s my story and I’m sticking to it!
As usual if you have any thoughts, comments, or ideas please let me know.
James L. DiCamillo, Executive Vice President