| Business Summary | | Private
Business,
Inc.
is
a
provider
of
technology-driven
solutions
that
help
community
banks
manage
accounts
receivable
funding
of
small
businesses.
The
Company's
principal
product,
Business
Manager,
is
based
on
software,
targeted
marketing
services
and
online
electronic
transaction
processing
provided
through
a
large
client
network
of
banks
nationwide.
This
Internet-based
e-commerce
solution
provides
cash
flow
to
thousands
of
small
businesses
across
the
United
States
by
enabling
them
to
sell
their
receivables
to
their
community
bank.
All
small
business
customers
utilizing
the
Company's
Business
Manager
solution
go
through
www.BusinessManager.com,
the
Company's
business-to-business
Internet
portal,
to
conduct
daily
transactions.
On
March
13,
2001,
the
Company
announced
that
it
signed
a
letter
of
intent
to
merge
with
Towne
Services,
Inc.,
through
a
merger
of
Towne
into
Private
Business.
The
merger
was
completed
in
August
2001. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | PBIZD
provides
electronic
commerce
solutions
that
help
community
banks
to
provide
accts.
receivable
financing
to
their
small
business
customers.
Business
Manager(TM)
is
the
Co.'s
software-based,
integrated
solution.
For
the
six
months
ended
6/01,
revenues
fell
12%
to
$24.4
million.
Net
income
fell
83%
to
$369
thousand.
Revenues
reflect
a
decrease
in
total
funding
through
the
Business
Manager
Program.
Earnings
also
reflect
costs
associated
w/the
Technology
and
Service
Center. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY2000 Pay | |
| William King, 56 Chairman | -- | Thomas Black, 49 Pres,
CEO, Director | -- | Fred Read, 46 CFO | $125K | Peter Scully, 45 Pres
of Private Bus. Insurance, Inc. | 222K | Gregg Colson, 38 Sr.
VP of Operations | -- | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|