Business dean leaving Southern Miss. for Texas - WLBT Business dean leaving Southern Miss. for Texas - WLBT

Sunday, June 10, 2012

Business dean leaving Southern Miss. for Texas - WLBT

Business dean leaving Southern Miss. for Texas - WLBT

HATTIESBURG, Miss. (AP) - University of Southern Mississippi College of Business dean Lance Nail is leaving for Texas Tech University.

Nail will take over as dean of the Texas university's Rawls College of Business, which opened a new $70 million business building earlier this year. He begins work in Lubbock on Aug. 15.

Southern Miss Provost Denis Wiesenburg tells the Hattiesburg American ( that Nail helped improve the university's business school.

Under Nail, the school's undergraduate business program entered U.S. News and World Report's national rankings for the first time. The school raised private money to help build a new $36 million College of Business building. It's named Scianna Hall, after the building's largest private donor, Chuck Scianna.

Nail, 45, came to Southern Miss in 2008 from the University of Alabama at Birmingham.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Money Hungry: Debt Collection Agencies in the US Industry Market Research Report Now Available from IBISWorld - YAHOO!

Before the recession, the drastic increase in US debt stimulated Debt Collection Agencies industry growth from 2003 to 2007. During this period, revenue rose as consumers funded spending through credit cards, mortgage financing and home equity loans. But after a rising tide of debt swamped the economy, collectability rates fell, canceling out the spike in debt-collection opportunities and hurting revenue. The economy is set to recover over the next five years, though, with improving debt recovery rates, declining unemployment and higher housing prices. As a result, debt collection agencies will experience renewed demand, resulting in modest revenue growth. For these reasons, industry research firm IBISWorld has added a report on the Debt Collection Agencies industry to its growing industry report collection.

Los Angeles, CA (PRWEB) June 10, 2012

The rising tide of US debt swamped the economy in 2008. As defaults escalated, credit markets froze and the recession ensued. Typically, the Debt Collection Agencies industry benefits from this scenario because the rise in default rates produces a spike in debt collection opportunities. But the depth of the recession produced another outcome, says IBISWorld industry analyst Eben Jose, “The increase in debt collection opportunities was offset by a fall in collectability rates, which is the percentage of delinquent accounts collected compared with the total value of outstanding delinquent debt.” Because fewer debtors were able to meet payments during the recession, industry revenue is expected to decline at an annualized rate of 1.1% in the five years to 2012 to $12.6 billion.

Before the recession, the drastic increase in US debt stimulated Debt Collection Agencies industry growth from 2003 to 2007. During this period, revenue rose at an annualized rate of 2.1% as consumers funded spending through credit cards, mortgage financing and home equity loans. “At the same time, banks and other institutions lowered lending standards in order to expand loan operations,” says Jose. “Default rates spiked significantly as the economy turned sour.” Credit lending institutions also outsourced debt collection services at higher rates to manage cash flow and operating costs. The industry remains highly fragmented, with a significant share of the industry comprised of sole proprietors and partnerships due to the industry's low barriers to entry. Market share concentration is expected to increase over the next five years as firms look to mergers and acquisitions for increased revenue, a trend continued from the past five years. The most notable acquisition occurred in 2007 when major company NCO Group Inc. acquired Outsourcing Solutions. Acquisition activity is common in a mature marketplace. Greater reliance on information technology and the ability to leverage economies of scale in business transactions is forecast to support future acquisition activity, increasing market concentration.

As the economy and credit market sector continue to recover, revenue is expected to grow in the five years to 2017. Debt recovery rates will improve as the unemployment rate declines and housing prices stabilize. Improving recovery rates will ensure positive returns on favorably priced debt portfolios purchased during the recession. Many debt collection companies took advantage of the marketplace's aversion to debt exposure during the recession by buying up debt at fire sale prices. Other important trends in the next five years will include consolidation of agencies, technology improvements and accounting changes. A rise in collections from legal entities, government institutions and healthcare establishments will also support growth. For more information, visit IBISWorld’s Debt Collection Agencies in the US industry report page.

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IBISWorld industry Report Key Topics

The Debt Collection Agencies industry includes businesses that pursue payments on debts that individuals and businesses owe. Most collection agencies operate as agents of creditors and collect debts for a fee or percentage of the total amount owed. Other agencies purchase debt portfolios from creditors at deep discounts and then pursue outstanding balances for their own gain.

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Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit or call 1-800-330-3772.

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Winning business plan becomes reality -

Every year, dozens of universities nationwide host business plan competitions that seek out the best concepts most likely to be successful in the marketplace.

But do the winners ever become reality?

One affirmative answer is Open Gym, an Anaheim business whose business plan won Matt Kanne first place in the 2010 Chapman Business Plan Competition as a sophomore.

Open Gym is an exclusively basketball training center that opened last October at 1500 S. Anaheim Blvd.

In the business plan, Kanne, who had played basketball at Servite High School, envisioned six full-size basketball courts, a 5,000-square-foot training room, nutrition center, lounge and locker rooms. It would cost $4 million.

How does the real thing compare?

"After three years of soliciting investors, I decided to...bootstrap it... launch the program without the building," Kanne tells me. "The facility ended up being 4-and-a-half courts with a weight room and offices."

Open Gym has a five-year lease with two additional five-year options.

The business already has activities, leagues, instruction and other programs until almost midnight seven days a week, Kanne says.

Customers like the facility.

"Open Gym is a great place with coaches who care about the kids," said former NBA player Sean Rooks. "I wish I had a facility like Open Gym when I was a kid."

Kanne says, "It's amazing looking back four years ago. I'd stumble on some issue and think 'how would I handle that?' And then those issues came up (in real life) and we found answers."

"While a lot has certainly changed since writing the business plan, the core of my vision has remained intact. The facility is high-quality, and we continue to take steps forward as a business every month."

Annual revenues are approaching $1 million, he adds. The business is profitable although Kanne acknowledges he's not yet drawing a full salary, only enough to pay for a simple lifestyle.

Open Gym wasn't an academic exercise dreamed up for a class project or to enter the campus business plan contest, Kanne said. "I wrote the business plan and then found out about the competition."

Register reporter Greg Hardesty wrote about Kanne's efforts to find investors among professional athletes.

Now that Open Gym is a reality and Kanne is graduating from Chapman University, he's already eying expansion. "We have worked with a few groups about doing additional facilities in south Orange County and expanding into other sports (including) volleyball," he says.

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