Title: Pre-Paid Legal Services Q2 2010 Earnings Call Transcript
Call Start: 8:30
Call End: 9:00
Pre-Paid Legal Services (PPD)
Q2 2010 Earnings Call
July 23, 2010 8:30 a.m. ET
Randy Harp – Co-CEO, President and COO
Steve Williamson – CFO
Good day ladies and gentlemen, and welcome to the Pre-Paid Legal Services second quarter earnings results conference call. (Operator Instructions.)
I would now like to turn the conference over to your host Mr. Randy Harp, co-CEO, president, and chief operating officer. Please go ahead.
Good morning this is Randy Harp. I want to welcome you to the 2010 second quarter earnings conference call for Pre-Paid Legal Services Inc. Joining me here at the home office is our chief financial officer, Steve Williamson.
Before we begin, I need like to remind everybody that the conference call will contain forward-looking statements, including our expectations of future results and future plans. Actual results might differ materially from those projected in any forward-looking statements. Additional information concerning risk factors that could cause the results to differ materially from these forward-looking statements are contained in our press release announcing the second quarter earnings as well as disclosures in our public reports on Forms 10-K, 10-Q and 8-K and any amendments thereto filed with the SEC and as always they’re available on the SEC Edgar website as well as our own website.
My co-CEO, Mark Brown, is travelling today to British Columbia, but had passed on two very recent articles that were of interest to him and would be of interest to folks on this call and certainly pertain to the area that this company is focused on. One is dated July 12. The title is--and I’m just going to hit a few sentences from each of these articles--judges say litigants are increasingly going pro se, meaning that they represent themselves, and at their own peril. “A survey of nearly 1200 state trial judges around the country indicates that the weak economy has increased the number of litigants representing themselves in foreclosures, domestic relations, consumer issues, and non-foreclosure housing matters and the judges say litigants are doing a poor job as well as burdening courts already hurt by cutbacks. More than half the judges saw case filings increase in 2009, and 60% of them say fewer people are represented by counsel . The greatest increase is in foreclosures, followed by domestic relations, consumer cases, and other housing matters. The economic crisis has only exacerbated the problems in the courts says (inaudible). Self-representation is resulting in worse outcomes for litigants according to 62% of the judges. 78% of the judges say the increase in self-representation is hurting the courts, especially by slowing down the docket.”