Bridge Collapse May Not Impact ARM Industry

The tragic and sudden collapse of a busy bridge in Minneapolis during rush hour yesterday left many in the ARM business concerned over colleagues and loved ones at the many industry firms in the area.

A short phone survey found no ARM industry firm employees dead or injured in the tragedy. The Twin Cities of Minneapolis-St. Paul are home to more than 60 firms in the accounts receivables management industry, according to a preliminary count by trade group ACA International, which is also based in Minneapolis.

Police said that there were four known fatalities from the collapse of Interstate 35W Bridge that crosses the Mississippi River. Rescue workers continued to search for survivors though Police Chief Tim Dolan told the Associated Press today there are more victims still in the river. Hospital officials said there were 79 injured in the disaster.

The bridge is located on the north side of Minneapolis and a few miles from the intersection of Interstate 35 and Interstate 94, a major artery for the region, said a spokesperson for Fair Isaac Corp., the Minneapolis-based consumer information firm best known for its scoring product.

The 450 employees of Fair Isaac were doing well with no indication of anyone harmed in the collapse, the spokesperson said. The company operates its headquarters in Minneapolis and an office in the northern suburb of Arden Hills, not far from the bridge.

The staff of ACA International was accounted for and okay this morning, according to spokesperson Nate Thompson. “Nobody at ACA has been affected by the bridge collapse,” said Thompson. The ACA has about 70 staffers in its headquarters, he said.

All employees of collection firm and call center operator I.C. System were okay this morning, according to a spokesperson. The firm’s headquarters are in St. Paul and it runs an office in suburban Vadnais Heights.

All staff and family members at Financial Recovery Services in Edina were accounted for this morning, according to Mark Pearson, vice president of business development. That could change as the firm operates on a flexible scheduling basis with employees due to arrive this afternoon. The firm has about 200 employees in southwest suburban Edina and in Brooklyn Center, Pearson said.