We’re heading into fall, with hopefully lots of warm memories of a summer with friends and family. Your Board of Directors got together in Chicago on Sept. 18th where we reviewed the budget and worked on important issues for the remainder of the year, such as the upcoming prospective member IR Symposium at Rutgers. We are in very good financial shape and will utilize this positive cash position to bolster our upcoming 80th Conference in 2014. I want to personally thank all of the Directors for taking time out of their personal and work lives to attend. I also want to thank their companies for their continual support and allowing them to participate on the Board. They all give of their time throughout the year for Board calls, meetings and getting to the conferences a few days in advance to volunteer their weekends to work together, and it is very much appreciated. This goes for the committee members as well; without your efforts our association would not be the same. Thanks for the great work. I want to touch on a subject that came up at a recent National Association of Purchasing Management meeting: Integrity and Ethics. Although our speaker discussed these topics as they applied to procurement issues, they definitely relate to our profession and association. You’ve possibly “heard something” or had a bad experience with a supplier. It happens. As an association, we’re often asked for information or feedback about companies that are approaching you for business. However, our legal counsel has advised us that this type of discussion touches anti-trust issues, so we all need to be very careful when these questions arise. We do not want to give the impression that the association or its members favors one company over another. Moreover, it is not the purpose of the association to share business information about any specific company. Rather, as an association, our role is to promote fair competition and use our superb educational and conference vehicles to help improve the profession and promote competition. Toward that end, I want to share the Institute of Supply Management’s exceptional Principles And Standards Of Ethical Supply Management Conduct. They’re designed to promote integrity in decisions and actions, provide value for your employer and maintain loyalty to your profession. They fit nicely with our investment recovery profession as well. (See also, the CMIR Code of Ethics on our website at InvRecovery.org/CMIRethics) 1. Impropriety: Prevent the intent and appearance of unethical or compromising conduct in relationships, actions and communications. 2. Conflict of Interest: Ensure that any personal, business and other activities do not conflict with the lawful interests of your employer. 3. Influence: Avoid behaviors or actions that may negatively influence or appear to influence supply management decisions. 4. Responsibilities to Your Employer: Uphold fiduciary and other responsibilities using reasonable care and granted authority to deliver value to your customer. 5. Supplier and Customer Relationships: Promote positive supplier and customer relationships. 6. Sustainability and Social Responsibility: Champion social responsibility and sustainability practices in supply management. 7. Confidential and Proprietary Information: Protect confidential and proprietary information. 8. Reciprocity: Avoid improper reciprocal agreements. 9. Applicable Laws, Regulations and Trade Agreements: Know and obey to the letter and spirit of laws, regulations and trade agreements. 10. Professional Competence: Develop skills, expand knowledge and conduct business that demonstrates competence and promotes supply management profession. Hold true to these goals and we can only move forward as an association. As we finalize plans for our milestone 80th Investment Recovery Seminar and Trade Show, my hope is that ALL our members and associates will join with us in Scottsdale April 6-9, 2014 as we share the spirit of the highest professional and ethical conduct. (And the best investment recovery education available anywhere!) Enthusiastically yours, Todd Thompson CMIR, Colorado Springs Utilities President, Investment Recovery Association tthompson@InvRecovery.org