Tealium Tag Test

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The standard Lorem Ipsum passage, used since the 1500s

“Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.”
Section 1.10.32 of “de Finibus Bonorum et Malorum”, written by Cicero in 45 BC

“Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam, nisi ut aliquid ex ea commodi consequatur? Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum fugiat quo voluptas nulla pariatur?”

1914 translation by H. Rackham

“But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure. To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage from it? But who has any right to find fault with a man who chooses to enjoy a pleasure that has no annoying consequences, or one who avoids a pain that produces no resultant pleasure?”

Section 1.10.33 of “de Finibus Bonorum et Malorum”, written by Cicero in 45 BC

“At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet ut et voluptates repudiandae sint et molestiae non recusandae. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.”

1914 translation by H. Rackham

“On the other hand, we denounce with righteous indignation and dislike men who are so beguiled and demoralized by the charms of pleasure of the moment, so blinded by desire, that they cannot foresee the pain and trouble that are bound to ensue; and equal blame belongs to those who fail in their duty through weakness of will, which is the same as saying through shrinking from toil and pain. These cases are perfectly simple and easy to distinguish. In a free hour, when our power of choice is untrammelled and when nothing prevents our being able to do what we like best, every pleasure is to be welcomed and every pain avoided. But in certain circumstances and owing to the claims of duty or the obligations of business it will frequently occur that pleasures have to be repudiated and annoyances accepted. The wise man therefore always holds in these matters to this principle of selection: he rejects pleasures to secure other greater pleasures, or else he endures pains to avoid worse pains.”

Regulator Praises Turnaround at Collection Agency it Targeted

insidearm-vOriginally Posted on insideARM

Minnesota state collection industry regulators played a key role in helping bring in new management and ownership that has successfully turned around a venerable Dallas-based agency.

Nationwide Recovery Systems, Ltd, an agency founded over 30 years ago, grew rapidly under the original founding leadership. The company added a healthcare collection division through an acquisition in Tyler, Texas, and by 2005 was one of the largest commercial, healthcare, and consumer debt collection agencies in the country. When the founder left the company in 2005, the company began to struggle.

By 2010, the company was losing money and the former owners were tiring of putting capital into the business. The company also encountered compliance issues when it failed to get an injection of cash from its former owners to cover a shortfall in its client trust account. Minnesota, like many states, requires a separate client trust account. After the trust fund shortfall was corrected, an independent auditor verified that all amounts due and collected by the agency were paid to customers according to terms.

In July of this year, Nationwide Recovery Holdings, LLC and Recovery Investments, LLC purchased the partnership units of Nationwide Recovery Systems, Ltd. The new owners injected capital into the company and quickly rebuilt the top management team.

“The Minnesota Department of Commerce is pleased with the work this new management team has done in recent months to turn NRS around,” said Department spokesman Matt Swenson. “The Department of Commerce will continue working with management to closely monitor their progress and ensure the company’s viability into the future.”

Earlier this month, the Minnesota Department of Commerce named NRS as one of eight ARM companies it had targeted for enforcement action over hiring and accounting practices.

Swenson emphasizes that the previous regulatory action against NRS “was brought against NRS because of the actions of former management, not because of the actions of the new owners.”

Prior to the purchase of NRS, the new management group met with the Minnesota state regulators and outlined a plan to improve the agency’s operations. After getting full support from the Minnesota team, the new owners proceeded to close the purchase and execute the turnaround. In less than 90 days, the new management group was able to return the agency to profitability.

“Our turnaround strategy focuses on three key areas: people, people, and people,” says Brian Gulledge, the new President of NRS. “Getting the right people in the right place on the bus is the single most important thing we have done to improve our operations,” says Gulledge.

Taking a page from Jim Collins’ Good to Great, Gulledge notes that the old management had a hard time getting people in the right place on the bus – and making tough decisions on performance. “If you fail to act when you know someone is underperforming in this business, you won’t make it,” says Gulledge.

The new performance-based culture at NRS showed up on the bottom line almost immediately. Underperforming collectors were terminated and the top collectors produced more. “A players don’t want to work beside C players,” says Gulledge. This is another principle straight from Good to Great: if you allow C players to stay on the bus too long, they will demotivate the A players, and the A players will leave.

Collection agency culture can go one of two ways: either the A players take over and the culture becomes in inhospitable to C players, or the C players take over and the A players leave.

In NRS’ case, the agency was lucky to find new owners who could recognize A-level talent and put A players in the right place on the bus. The agency was also lucky to have regulators who recognized the talent of the new management/ownership group and encourage them to invest in the turnaround of NRS. Not all agencies who find themselves in trouble with state regulators are so lucky.