Posted on 08/02/2023 2:52:23 PM PDT by MeneMeneTekelUpharsin
I was listening to the Regional Management Conference call on earnings today, August 2, 2023 at 4 p.m. and pressed the appropriate key strokes to ask a question. However, the Regional Management company decided not to take my call and allowed others to ask questions which were obviously tilted in RM's favor.
My question was going to be why net credit losses were much greater in a year-to-year comparison from 2022 to 2023 (68058 in '22 and 97619 in '23) as well as why there was a significant increase in Provision for credit losses from 76258 in '22 to 100219 in '23. The CEO said on the call that they are working on controlling expenses and yet administrative expenses went from 109221 in '22 to 116219 in '23. Why?
The last thing I wanted to ask these guys was what their exposure to the Hispanic market in the Southwest was, and specifically, their exposure to the illegal alien poplution now flooding Texas, given that this demographic group is not know to be diligent about repayment of any loans and certainly is not backed by the U.S. government like the student borrowers have been. Also, wanted to ask them how they can say (which they did) that inflation is diminishing when my Medicare Supplemental Payment jumped up 9% two days ago and Blue Bell Ice Cream is $8.32 a gallon (don't expect the Canadians to understand that one).
The operator researched why they didn't take my call and said the company decided they would get in contact with me AFTER the call. Well, I told her, "It's too late." I'll post my questions on the internet for all to see.
I've had similar experiences with the District Management Corporation (DMC) and the Local Management Corporation (LMC).
Maybe it's time to complain to the National Management Corporation (NMC).
Regards,
Very funny. They literally just directed it the way they wanted it to go. No valid questions asked. The corruption is society-wide and deep.
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