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: Structured Settlements 4Real

Smith Bucklin Management: Time for NSSTA Leadership to Show Some Resolve!

By John Darer

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The end of the tenure of Smith Bucklin as the association management company for the National Structured Settlement Trade Association is nigh and it couldn't come soon enough, in the opinion of this author.

Smith Bucklin's "reign" began in late January 2008 with the ill advised announcement of the appointment of Diane Swenson as Executive Director. For an organization that draws its membership from both the plaintiff and defense communities the announcement of the appointment of a former Executive Vice President of the American Tort Reform Association could best be described as a bumbling "how do you do?".

Now after two years of a "rudderless ship" NSSTA appears to be back on positive course. Yet information has begun to emerge that should be very disturbing to all members. Those members should be putting pressure on NSSTA to clean out its cobwebs and do something that will save the member's money, rather than cost them

We have recently learned that among other things:

1) SmithBucklin failed to renew NSSTA's website domain with Network Solutions. This URL was transferred to SmithBucklin's control at the specific request of Mr. Vernon Drummond of SmithBucklin in December 2007. This problem came to light not from SmithBucklin but from a NSSTA member, who brought it to our attention.

2) SmithBucklin failed to renew NSSTA's corporate status, a fact that NSSTA's outside counsel recently discovered while preparing the application to trademark NSSTA's new logo.

3) Even after more than two years, there continue to be ongoing problems with the accuracy of NSSTA's membership database. Especially serious was SmithBucklin's summary decision last December to remove from NSSTA's website membership list all members from two of the largest companies in the association for supposed non-payment of dues. In fact, we understand that the error was with Smith Bucklin's invoicing procedure, which had not been changed despite more than two years of mistakes.

4) SmithBucklin was solely responsible for hotel arrangements for NSSTA's 2010 Annual meeting. The program schedule that Smith Bucklin gave to meeting attendees said that NSSTA's popular Hospitality Suite would be in Room 183. This was not true. It was Room 118. As a result, many attendees never made it to the actual suite, a fact that severely upset not only members but also the Suite's corporate sponsor (and NSSTA member), New York Life.

5) Despite assurances from Smith Bucklin's PAC counsel, NSSTA's review of the first quarter of 2010 FEC Report showed significant differences between the bank account records and the FEC Report filing. NSSTA also discovered several PAC checks not cleared from more than two years ago and an unexplained deposit of $5,100 from March 2010 that is not reflected in the FEC Report.

While there is potential for NSSTA Board members seated during the two plus year Smith Bucklin era to feel some responsibility (and they should) to sweep this under the rug, the structured settlement watchdog is not going to let them. Nor should any other NSSTA member. Now that every NSSTA member has voting rights they must take an active role in questioning leadership and making sure that those that are elected are accountable for serving the interests of membership above their own personal interests. Questioning leadership means that you care.

At the present time membership should consider putting pressure on the NSSTA Board of Directors, with a deserved turning of the screws a little more tightly on "those who were there", to immediately seek redress and resolve the issues involving Smith Bucklin. A follow up report should be provided to all members.

Current NSSTA Leadership

Michael Kelly, Structured Financial Associates, President

Dan Durbin, CSSC Allstate Life, Immediate Past President

Directors
Joseph Barnet, CSSC, Prudential Insurance Company of America
Len Blonder, EPS Settlements Group
Randy Dyer, CSSC, Ringler Associates
James Ebel, Selective Settlements International
Dan Finn, CSSC, Finn Financial Group, LLC
Betty Gregware, CSSC, John Hancock
James E. Logan, CSSC, James E. Logan & Associates
John Machir, Ringler Associates
Larry Niemi, CSSC, Niemi & Associates

Criticism is something we can avoid easily by saying nothing, doing nothing, and being nothing? Aristotle

Criticism may not be agreeable, but it is necessary. It fulfills the same function as pain in the human body. It calls attention to an unhealthy state of things.? Winston Churchill

?He has a right to criticize, who has a heart to help.? Abraham Lincoln

?Many a golfer prefers a golf cart to a caddy because the cart cannot count, criticize or laugh?

Full post as published by Structured Settlements 4Real on June 03, 2010 (boomark / email).