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HDI Solutions, Inc. (showing Vouchered By "" on Shelton State's student account)
Is anyone familiar with this:
http://www.hdisolutions.com/PrepaidColl … nAdmin.htm
PACTRAC
and there is a quote from Kay Ivey midway down the page at:
http://www.hdisolutions.com/records_admin.htm
Who are: Jim Wilkerson, Patrick Manning, and Leah Scarbrough?
I think this is the very expensive system that keeps up with where the money went that isn't there anymore!!!
They are the company directors of HDI Solutions:
Mail:
Jim Wilkerson
Executive Vice President
Office: (334) 466-3025
Patrick Manning
Director-Public Safety Business Development
Office: (334) 466-3076
Leah Scarbrough
Director-Business Operations
Office: (334) 466-3065
HDI Solutions, Inc.
1510 Pumphrey Ave.
Auburn, Alabama 36832-0529
Telephone: (334) 821-0947
Toll Free: (800) 282-0999
Fax: (334) 821-0738
Is that what you are asking Sheila?
No, I saw that page. Maybe a better question is how are they connected? Was there service bid out? Is that their main contract? Have they been in business for a while? Or, was it set up specifically for PACT? I saw the other services on their site. I'm not from Auburn, so I wondered who they were. Are they connected to anyone specifically, or just someone who saw a niche? Are they a large company? How much is PACT paying? Is it an appropriate fee for their services?....
Sheila, its an excellent question and deserves a good answer. I have seen the numbers somewhere and will have to find them. When I saw them I thought the same as you.
Same feeling I got when I saw all the money managers for PACT. Kinda wondered what the admin fees for all the good investment advice costs every year.
All this should be on the yearly financial statements, but since I was not looking in years past, can't recall if that's disclosed information.
Anyone know about PACT financial disclosures???
Shelia, you might want to read this unnamed doc located on the Alabama Treasury website:
http://www.treasury.state.al.us/Content … trator.pdf
Excerpts indicate the following:
1) HDI Solutions is the current Records Administrator 2006
2) The total annual payment for Records Administration was $651,949
Included in the doc was a link also to the Alabama PACT September 30, 2006 Financial Statements
http://www.treasury.alabama.gov/Content … Report.pdf
You might note that we as PACT contract holders invested in 'mortgage backed securities'. That's making me feel better already!!
Look around, you may find some more good questions!
I found a little more from Sec'y of State records:
Corporation Annual Report (2008)
HDI Solutions, Inc.
Corporation Number 135 - 403
Telephone Number 334-821-9450
Date Proccessed by Revenue 12-10-2008
Reporting Address HDI SOLUTIONS INC
1510 PUMPHREY AVE
AUBURN, AL 36832-4302
Agent as Reported GIBSON, J
157 CARY DR
AUBURN, AL 36830-3003
President GIBSON, J
524 BRENTON COURT
AUBURN, AL 36830
Secretary GIBSON, JUDITH
524 BRENTON COURT
AUBURN, AL 36830
General Business SOFTWARE DEVELOPMENT
HDI Solutions, Inc.
Corporation Number 135 - 403
Corporation Type Domestic Corporation
Principal Address AUBURN, AL
Status Exists
Place of Incorporation Lee County
Incorporation Date 2-15-1990
Registered Agent GIBSON, J TYRONE
157 CARY DRIVE
AUBURN, AL 36830
Nature of Business ---
Capital Authorized $1,000
Capital Paid In $1,000
Incorporators
Incorporator Name GIBSON, J TYRONE
Annual Reports
Report Year 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Transactions
Transaction Date 4-13-2004
Capital Amounts Changed $1,000 Authorized $1,000 Paid In
Transaction Date 4-13-2004
Legal Name Changed Health Data, Inc.
Transaction Date 5-13-2005
Capital Amounts Changed $500,000 Authorized $1,000 Paid In
My research of names and web sites seems to indicate they may have seen a niche with the variety of businesses that they are available to provide. Don't know, though. Anybody???
Why did the state treasury not administer the funds? The state provides the WEB-Site space, the state Treasurer's seal appeared on the WEB site and printed documents so the state would not have been accepting any liability that did not already exist.
I have more than thirty years of experience in Information Technology and corporate management. The PACT fund required no special software for administration. The amount listed for records administration is, to be kind, excessive.
Last edited by Groove (06-29-2009 9:37:28 am)
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