President's MessageAs much as I would love to be able to say that the majority of my company’s investment recovery revenue comes from sales of surplus assets to end-users as reusable assets…that’s just not the case. In fact, for the second year in a row, scrap/recyclable sales have accounted for 90 percent of the total revenue for us.
This issue of Asset2.0 has some excellent articles on recycling and repurposing. You’re probably familiar with the term “recycling,” but perhaps the term “repurposing” is a new one for you. Damon Carson, the author of the repurposing article, defines “repurposing” as “creative reuse…giving by-products and wastes a second life because they have value ‘as is.’” In either case, whether it be recycled or repurposed, it’s a good choice not only economically, but also environmentally, and from a social responsibility perspective (the three pillars of sustainability).
Is recycling an important concept for my company’s investment recovery function? You bet your sweet bippy it is! But isn’t it a stretch to define recycling as “a stroll down memory lane”? Maybe…maybe not. You be the judge as you read further.
I want to go beyond the traditional concept of recycling metal, paper products, plastics, petroleum products and the like. What about recycling investment recovery concepts? Why do we feel the need to rehash the same basic investment recovery concepts year after year at our conferences and trade shows? Why did we feel the need to rewrite an Investment Recovery Handbook? Hasn’t it all been said (and done) before? YES.
But in order to continue the process, we are constantly recycling our investment recovery knowledge. We utilize the many experiences of seasoned investment recovery professionals to incorporate into new programs and materials to educate new generations of IR professionals. Even though we are constantly refining and improving the processes, we are still passing along the same basic tenets of investment recovery from generation to generation. So, I would offer that this is a form of recycling knowledge that is often enhanced through experiential refinement, or a stroll down memory lane.
Your association volunteers have been working hard to put together an exciting training event for us next year. We will be meeting in Memphis, Tennessee, for the association’s 79th Investment Recovery Seminar & Trade Show, March 24-27, 2013. We will be featuring three entirely new seminar sessions on Asset Valuation, Sales and Marketing, and “Dispositioning.” I look forward to seeing each of you there as we recycle some knowledge and friendship.
One final thought—I’ve spoken a lot about recycling in this message, and I certainly intend to continue with educational recycling efforts after my formal retirement in a year or so. But I also like the concept of repurposing. I think I’ve got some fairly decent ambassador skills, so perhaps I’ll repurpose myself in that direction…
“Hi. Welcome to Wal-Mart!”