And yet another chooses an ICGE company.....seems like over the last few months, ICGE's partner companies have been landing an awful lot of contracts...check out their timeline of news going back a few months....lots of folks are choosing icge companies......I would hope and imagine that some of these rather large names arent choosing icge partner companies without doing their homework....Surely, they must like the company to give it it's business and must believe the company will do a good job for them and must believe they wont be bankrupt anytime soon.......My point all along Ed is that Yes, you are 100000% correct, no disputing it, that ICGE is a gamble....BUT, I do feel after extensive DD that they have a solid core of busineses that will ultimatly decide their sucess. Sure they had some dead weight, bad aquisitions and etc......but they are doing the right moves.....losing the dead weight...consolidating some....selling some for shares of other companies that will hopefully be succesful, and most of all, concentrating on their core 16 businesses that all have potential to be profitable on their own....with no IPO's....No more financing...nothing. ICGE has a nice stable of companies, 16 of which are projected to be profitable in the not too distant future........Now, lets assume only half make it...or even 1/4...that still leaves ICGE very sucessful, not to mention their portfolio of stocks they have as well....and IF they ever get back to a good IPO market, ICGE will be in a great position...those 16 companies will look very good going public, assuming their numbers continue to improve as they are, and the general market conditions allow for sucessful IPO's.........Hell Ed, I almost want to buy you a 1000 shares just to tuck away, so you can thank me in 5 years<ggg>, but unfortunatly, $2k is alot more to me now, then a year ago.......
Anyway, ED, your probably the smartest guy on the thread ( you, Catech and RR, I think are neck and neck at top of list...heck, if allensalias was a regular porcher, I would add him to top of the list also, and he's a bear....but a damned smart one!!!), so I will not and cannot argue your logic...you are 100% correct, and I mean that sincerely....but hell, you only live once, and a little risk taking is in my blood, so........
SunTrust Credit Automates Small Business Lending with eCredit.com; Nationwide Lender Provides Rapid Credit Decisions Using Highly-Configurable eCredit.com Technology
DEDHAM, Mass. & LITTLE ROCK, Ark.--(BUSINESS WIRE)--March 26, 2001--eCredit.com and SunTrust Credit Corp. today announced that SunTrust Credit is `live' with eCredit.com credit decision software for automated approval of small business financing and revolving lines of credit. SunTrust Credit, a commercial specialty finance company, is a wholly-owned subsidiary of SunTrust Banks, Inc., the ninth largest commercial banking organization in the U.S., with assets over $100 billion in 2000.
Using eCredit.com technology, SunTrust Credit receives applications for business financing through its various sales channels. Transactions up to $75,000 are automatically processed by eCredit.com software to determine in seconds whether credit should be granted, referencing outside information sources and using scorecards customized by SunTrust Credit to reflect the company's risk tolerance. This type of credit decision has traditionally taken days to manually process. Automation of the credit decision not only provides speedier, consistent results, but also frees credit analysts to focus on difficult or higher-value transactions, while the resulting aggregated data allows SunTrust Credit to identify and target its most profitable customers.
"In these volatile economic times, every financial institution needs the flexibility and processing power to closely manage its credit policy. We chose eCredit.com because its technology allows us maximum control of the credit decision process with greatly improved efficiency," said Scott Hastings, SunTrust Credit president and chief operating officer. "In essence, eCredit.com technology allows us to perform our usual thorough credit decision analysis, but in a fraction of the time and with more consistency across our business."
With eCredit.com software, SunTrust Credit can process applications directly from the desktop, whether entered by credit analysts or loan officers. Also, using the Internet for direct applications not only eliminates errors and speeds processing, but also helps SunTrust Credit accommodate the growing number of small businesses leveraging the Internet. According to a recent report by analyst firm International Data Corp., the percentage of small businesses accessing the Internet is expected to climb to over 70% by 2003.
According to Peter McKay, president at eCredit.com, "More and more, financial institutions are recognizing the benefits of credit decision automation for credit process efficiencies and risk management. Adding a leader like SunTrust Credit as an eCredit.com customer affirms our position as the technology provider of choice for companies that manage money as their business."
eCredit.com decision solutions enable credit-granting organizations to automate their traditional credit and underwriting processes, proactively manage risk and speed time-to-market. By consolidating customer information in a single repository, eCredit.com helps credit-granting organizations to qualify, acquire and retain customers and proactively manage credit risk. eCredit.com decision solutions also provide a flexible platform for managing multiple score cards, consolidating existing legacy systems and taking applications from more than one point of origination.
About SunTrust Credit Corp.
SunTrust Credit, which specializes in small business financing, is a wholly-owned subsidiary of SunTrust Banks, Inc., the nation's ninth largest commercial banking organization. SunTrust Credit provides small business financing through various loan and lease products that are customized to meet the specific needs of its customers. Its products include a selection of term loans, leases and both secured and unsecured revolving lines of credit. The Company offers it services in all 50 states. SunTrust Credit is a Nevada corporation with offices in Little Rock, Ark. and Reno, Nev. For additional information, visit SunTrust Credit on the web at www.suntrustcredit.com.
About eCredit.com
eCredit.com enables Fortune 1000 companies, financial services organizations and e-businesses to transform business processes throughout the financing supply chain to strengthen customer relationships, increase customer purchasing power, and grow the bottom line. eCredit.com solutions automate credit and underwriting to better manage risk and deliver a portfolio of financing options at the point-of-sale. Included among the Company's customers and partners are CIT, Eastman Chemical, GMAC, Fleet Leasing, Gateway and Ryder System, Inc. eCredit.com, headquartered in Dedham, Mass., is a member of the Internet Capital Group (NASDAQ: ICGE) partner company network. For additional information, visit eCredit.com on the Web at www.ecredit.com.
The eCredit.com logo is a trademark of eCredit.com.
CONTACT:
eCredit.com
Roopa Bhide
(781) 752-1275
roopa@ecredit.com
or
Porter Novelli Convergence Group (for eCredit.com)
Albie Jarvis/Karen Freeman
(617) 450-4300
karen.freeman@pnicg.com
or
SunTrust Credit
Douglas K. Bland
(501) 374-6036
dbland@suntrustcredit.com
KEYWORD: MASSACHUSETTS ARKANSAS
BW2192 MAR 26,2001
5:32 PACIFIC |
