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Nco Group

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NEWS
March 21, 2011
NCO Group Inc., Horsham, said today it appointed Ronald A. Rittenmeyer as president and chief executive officer, effective immediately. He replaced Michael J. Barrist, who will remain chairman of the debt-collection company. Barrist had also been president and chief executive since 1986. Rittenmeyer has been consulting with NCO for the last four months on plans for corporate growth and cost savings, the company said. He was chairman, president and chief executive of Electronic Data Systems until its sale to Hewlett-Packard Co. in 2008.
BUSINESS
August 10, 1999 | By Bob Fernandez, INQUIRER STAFF WRITER
Debt collection is an unforgiving business. Costs can be unpredictable, competition fierce, clients fickle, and the work unpleasant. But NCO Group Inc. of Fort Washington has won at the game with a tough-minded management and computer technology that scores deadbeats on their likelihood to make a payment. Since the mid-1980s, NCO Group, run by chief executive officer Michael Barrist, 38, has grown into one of the nation's largest debt-collection firms. It took in $10 billion last year.
BUSINESS
December 21, 1998 | By Andrea Ahles, INQUIRER STAFF WRITER
Bad debt for others has become big business for NCO Group Inc., a Fort Washington debt-collecting company. Michael Barrist, NCO's chairman and chief executive, has taken the small debt-collection agency founded by his grandfather in 1926 and turned it into the second-largest collection company in the world. Barrist's strategy was simple: acquire other agencies with large client bases while NCO adds new services to sell to existing customers. Using a computerized dialing system, NCO phone operators call people who are overdue on payments to credit-card companies and other lenders, and hospitals and other service providers.
NEWS
May 19, 2011
NCO Group Inc. of Horsham, a provider of business outsourcing services, has acquired Protocol Global Solutions Inc. of Sarasota, Fla., for an undisclosed amount. Both companies specialize in business process outsourcing services. NCO's focus is on accounts-receivable and customer-relationship management. Protocol's is in contact center services for the energy, health-care, government, pharmaceutical and insurance industries. NCO's president and chief executive officer, Ronald A. Rittenmeyer, said the purchase of Protocol, which has 2,200 employees in the United States and internationally, will enhance market penetration and abilities for growth in the field of customer-relationship management.
BUSINESS
July 25, 2006 | By Benjamin Y. Lowe INQUIRER STAFF WRITER
A Horsham debt-collection business has agreed to be acquired by its chief executive officer and a private-equity firm in an $890 million deal that analysts say could leave it better positioned for growth. The company, NCO Group Inc., said yesterday that it had agreed to be acquired by Michael J. Barrist, its CEO and chairman, and One Equity Partners, of New York. While considering the deal, a committee of the company board of directors gave each nonemployee board member a $25,000 raise.
BUSINESS
July 24, 2001 | By Benjamin Y. Lowe INQUIRER STAFF WRITER
Saying the economic slowdown was making it more expensive to be a debt collector, NCO Group Inc. said yesterday that its profit for the second quarter would be lower than it had expected. The Fort Washington collection agency said that it was likely to report earnings per share of 43 cents to 45 cents for the quarter, which ended June 30. Wall Street had expected the company to earn 48 cents to 54 cents per share, according to Thomson Financial/First Call. The company's stock price fell $3.86, or 13.7 percent, to $24.35 on the Nasdaq.
BUSINESS
March 31, 2009 | By Harold Brubaker INQUIRER STAFF WRITER
Even as the Obama administration does everything it can to boost lending, many U.S. companies are having trouble handling the loans they already have. Weak demand from consumers and other businesses is making it impossible for many companies to stay in compliance with their loan agreements, forcing them to turn to the lenders for relief. But that relief - which often means companies get more time to pay or are allowed to have more debt relative to their profit - comes at a price.
NEWS
April 13, 2000 | By Mary Blakinger, INQUIRER SUBURBAN STAFF
NCO Group Inc., a Fort Washington debt-collection company, has started a $1.5 million building renovation for a call center to open in July with at least 350 employees just a few blocks from Terminal Square. "We're excited about it. We think it is good for NCO . . . and for the local community," said Joe McGowan, an NCO divisional chief executive officer. Workers will include transferees from Fort Washington and about 100 new employees, he said. NCO expects to begin advertising for applicants over the next month, following up in June with training.
BUSINESS
September 11, 2012
Siobhan A. Reardon , president of the Free Library of Philadelphia, was named chair of Lyrasis , a regional nonprofit membership organization serving libraries. Michelle Portnoff , founder of Portnoff Law Associates Ltd., Norristown, was elected to the board of governors of Gratz College in Melrose Park. Blank Rome L.L.P. associate Eric G. Fikry was elected secretary of the Camden County Bar Association. The Alumni Association at La Salle University , a nonprofit educational institution, elected the following board members: Alexis R. Abate , marketing coordinator at the Eye Institute of the Pennsylvania College of Optometry at Salus University.
BUSINESS
May 17, 2006 | By Benjamin Y. Lowe INQUIRER STAFF WRITER
Shares of NCO Group Inc. rose 36 percent yesterday after the Horsham company said its chief executive officer had made an $889 million offer to buy the business. The debt-collection company's lackluster earnings growth in recent years has weighed down the stock price, making it an attractive takeover candidate, especially given its ability to generate cash, analysts said. The $27.50-per-share offer by Michael J. Barrist, NCO's chairman and chief executive since 1986, and a partner, One Equity Partners II L.P., represents a 44 percent premium to Monday's closing price of $19.05.
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BUSINESS
September 11, 2012
Siobhan A. Reardon , president of the Free Library of Philadelphia, was named chair of Lyrasis , a regional nonprofit membership organization serving libraries. Michelle Portnoff , founder of Portnoff Law Associates Ltd., Norristown, was elected to the board of governors of Gratz College in Melrose Park. Blank Rome L.L.P. associate Eric G. Fikry was elected secretary of the Camden County Bar Association. The Alumni Association at La Salle University , a nonprofit educational institution, elected the following board members: Alexis R. Abate , marketing coordinator at the Eye Institute of the Pennsylvania College of Optometry at Salus University.
BUSINESS
August 24, 2012 | By Joseph N. DiStefano, Inquirer Staff Writer
Cabela's Inc. , the fast-growing gun, rod, and outdoor-gear seller, plans its first Philadelphia-area store next to Christiana Mall off I-95. Nebraska-based Cabela's, which started as a catalog supplier, is best known for building log-stone-and-glass, tourist-attraction-like temples to country consumerism in hunting and fishing zones: There are two Cabela's each in West Virginia and Idaho, none in New Jersey. Christiana is highly suburban - but it's also in Delaware, one of the few states without a sales tax, and it's an easy drive from the Philadelphia area and Maryland, where many Cabela's catalog shoppers live, spokesman Wesley Remmer told me. The closest Cabela's now is one of the profitable 38-store chain's biggest and busiest sites, a 250,000-square-foot center at Hamburg, north of Reading, among Pennsylvania state game lands.
NEWS
May 19, 2011
NCO Group Inc. of Horsham, a provider of business outsourcing services, has acquired Protocol Global Solutions Inc. of Sarasota, Fla., for an undisclosed amount. Both companies specialize in business process outsourcing services. NCO's focus is on accounts-receivable and customer-relationship management. Protocol's is in contact center services for the energy, health-care, government, pharmaceutical and insurance industries. NCO's president and chief executive officer, Ronald A. Rittenmeyer, said the purchase of Protocol, which has 2,200 employees in the United States and internationally, will enhance market penetration and abilities for growth in the field of customer-relationship management.
BUSINESS
March 22, 2011
In the Region Cephalon to buy Gemin X Cephalon Inc. , the Frazer maker of the narcolepsy treatment Provigil, said it would buy Gemin X Pharmaceuticals Inc. for as much as $525 million to gain cancer treatments. Cephalon will acquire the biotechnology company for $225 million in cash and as much as $300 million if Cephalon meets certain regulatory and sales milestones, Cephalon said Monday in a statement. Gemin X is developing its lead drug, obatoclax, for a variety of cancer types.
NEWS
March 21, 2011
NCO Group Inc., Horsham, said today it appointed Ronald A. Rittenmeyer as president and chief executive officer, effective immediately. He replaced Michael J. Barrist, who will remain chairman of the debt-collection company. Barrist had also been president and chief executive since 1986. Rittenmeyer has been consulting with NCO for the last four months on plans for corporate growth and cost savings, the company said. He was chairman, president and chief executive of Electronic Data Systems until its sale to Hewlett-Packard Co. in 2008.
BUSINESS
March 31, 2009 | By Harold Brubaker INQUIRER STAFF WRITER
Even as the Obama administration does everything it can to boost lending, many U.S. companies are having trouble handling the loans they already have. Weak demand from consumers and other businesses is making it impossible for many companies to stay in compliance with their loan agreements, forcing them to turn to the lenders for relief. But that relief - which often means companies get more time to pay or are allowed to have more debt relative to their profit - comes at a price.
BUSINESS
July 25, 2006 | By Benjamin Y. Lowe INQUIRER STAFF WRITER
A Horsham debt-collection business has agreed to be acquired by its chief executive officer and a private-equity firm in an $890 million deal that analysts say could leave it better positioned for growth. The company, NCO Group Inc., said yesterday that it had agreed to be acquired by Michael J. Barrist, its CEO and chairman, and One Equity Partners, of New York. While considering the deal, a committee of the company board of directors gave each nonemployee board member a $25,000 raise.
BUSINESS
May 17, 2006 | By Benjamin Y. Lowe INQUIRER STAFF WRITER
Shares of NCO Group Inc. rose 36 percent yesterday after the Horsham company said its chief executive officer had made an $889 million offer to buy the business. The debt-collection company's lackluster earnings growth in recent years has weighed down the stock price, making it an attractive takeover candidate, especially given its ability to generate cash, analysts said. The $27.50-per-share offer by Michael J. Barrist, NCO's chairman and chief executive since 1986, and a partner, One Equity Partners II L.P., represents a 44 percent premium to Monday's closing price of $19.05.
BUSINESS
March 2, 2004 | By Harold Brubaker INQUIRER STAFF WRITER
Help wanted: One thousand people needed to answer phones and perform other back-office tasks for major U.S. financial institutions. Must be in India. Contact Zenta Group, Wayne, Pa. The offshoring of jobs has been rich fodder for presidential candidates and other politicians bemoaning subpar U.S. job growth at a time of increasing global commerce. But talk about banning or restricting outsourcing is overblown: The global economy is here to stay, and that means "you can't have global companies without giving other countries jobs," said Priya Hiranandani, Zenta's 27-year-old founder and chief executive officer.
BUSINESS
September 11, 2001 | By Joseph N. DiStefano INQUIRER STAFF WRITER
Also in this column: ICG write-offs continue Bankers too generous? Cards: A split decision If any company ought to be profiting from the growing army of jobless workers, it is NCO Group, the world's largest debt collection agency. But NCO, which duns hard-pressed medical patients and bank borrowers who have fallen behind on their bills, is having a tough time making ends meet. Sure, the Fort Washington company has more business than ever. But "the cost of collecting this debt" has been rising "even faster" than the number of debtors, Merrill Lynch analyst Thatcher Thompson complained in a recent report.
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