Employees buy collection agency

The Regional Adjustment Bureau, a Memphisbased collection agency established in 1971, has transitioned into an employee-owned company.

Founder, president and principal shareholder Steve Smith and co-shareholder Bob Pugh sold their stock in the company to set up an employee stock ownership plan. The two will continue to oversee operations of the 400-employee company.

“We believe that our employees should have an equity stake in the company that they helped build. The ESOP provides

a way for our people to share in the growth of the company,” Smith said. “Our employees are now owners of the company and their long-term financial security will be tied directly to their performance. Participating in the ESOP provides a direct incentive for employees to work hard and take pride in what they do.”

The Pla ntersvi l l e Democrat labeled Gov. Phil Bryant a fool. Why? Holland figures Medicaid expansion could help fund medical economic development in Mississippi, while the governor opposes what he calls Obamacare.

“Get a life,” Holland stormed.

Meanwhile, the Arkansas Hospital Association commissioned a study that claims expanding Medicaid eligibility would create 8,600 new Arkansas jobs in 2014 and 10,600 new jobs by 2020.

In Tennessee, Gov. Bill Haslam said he has not decided whether to support Medicaid expansion.