Deregulating Energy: When Less Is More

Since the country’s inception, Americans have debated the role of government—and its regulations—in the free market.

There’s little new about the debate, with some arguing that government has a significant role to play in ensuring ‘fair business practices’, and others arguing that ‘unleashed’ entrepreneurial spirit is the engine that drives our economy.

And while that debate rages on, it’s instructive to look at the results of deregulation—or, put another way, the diminution of government oversight—on the nation’s retail energy sector.

Continue reading “Deregulating Energy: When Less Is More”

Sackett Thriving Since Vegas Relocation

 

From his office in the Las Vegas Technology Park, Jevin Sackett is quietly building an empire that runs the gamut from credit analysis for the auto industry to energy retail.

Two years ago, Sackett moved Sackett National Holdings Inc. to Las Vegas from San Diego.

His father, Gray Sackett, started National Credit Center in 1996 and the concept grew into Sackett National Holdings.

After taking over as CEO in 2010, Jevin Sackett saw something he liked in the developing business landscape of Las Vegas.

“Tech companies and startups are growing in Las Vegas, and there is some excellent talent that has joined our organization,” Sackett said.

Sackett added that the valley has a great cost of living.

Sackett National Holdings operates five subsidiaries: National Credit Center, SettlementOne Credit Corp., SettlementOne Valuation Corp., SettlementOne Screening and Sperian Energy.

Since the corporate move, the company has brought 100 new jobs to Las Vegas, Sackett said. It has offered positions in product sales and in the marketing, finance, legal and technology departments.

Sackett National’s roots are in the automotive industry. with its National Credit Center subsidiary, which offers several credit and technology products to automotive dealers.

“We recognized an opportunity in the automotive industry,” Sackett said. “That opportunity has been a very high growth visit for us―20 to 30 percent annually.”

Today, National Credit Center owns a 10 percent share of the credit processing market, making it the third largest competitor in the industry. The credit processing software works in real time for the millions of applications processed.

Some of the larger clients include Asbury Automotive Group, AMSI and Napleton Automotive Group.

One of National Credit Center’s offerings to dealers is compliance software that assists with the Red Flags Rule—a requirement to help credit grantors determine possible identity theft, comply with Office of Foreign Assets Control sanctions, and disperse Adverse Action notifications.

National Credit Center also offers lead-generation software known as EZ App. This allows dealers to prequalify potential buyers and get them into the showroom.

After the successes in the automotive industry, Sackett moved into the mortgage lending industry. He co-founded National Reporting Mortgage in 1999 and functioned as its chief operating officer. This is the predecessor to today’s SettlementOne companies.

Sackett said he went into the mortgage sector because it provided the firm’s mix of credit and software services nationally.

The brand offers several products in credit processing and for the mortgage industry. It also offers software to aid in employee screening.

“There were a lot of parallels for us between the technologies in the automotive industry,” Sackett said.

SettlementOne Credit is the leg that offers credit reporting products to the mortgage lending industry.

This industry hit a slow spot during the recession, according to Sackett.

“We service banks and credit unions, and the process was very challenging to customers,” Sackett said. “We have recovered from it.”

In recent months, SettlementOne introduced RediQual, a cloud-based form that expedites the process of prequalifying for a home loan. Another version, RediQual Plus, puts the entire mortgage application online for lenders. And the third offering, RediQual Advantage, automates the process of sending legally required disclosures to borrowers.

The evolution of products continues with SettlementOne Valuation, which provides appraisals on residential homes for banks, credit unions and mortgage companies. According to the company website, the system is compliant with Fannie Mae, Freddie Mac, Dodd-Frank and other entities that regulate the industry.

The final product to be developed is SettlementOne Screening, which is geared toward the employment industry. SettlementOne Screening offers employers background checks, Social Security searches, driving record searches, sex offender checks and credit screening to their clients.

In 2011, a year after Sackett became CEO, he saw an unrelated opportunity and purchased Sperian Energy.

“We recognized the opportunity in the industry for very high growth,” Sackett said.

As an energy retailer, Sperian purchases energy from producers and resells it to consumers in states that have deregulated energy markets including Pennsylvania, Illinois, Ohio, Maryland, New York and New Jersey.

“It was an opportunity to provide a service level for customers that may not have been available before,” Sackett said.

In recent months, Sackett said, Sperian has been getting better deals on energy.

“There has been a large decrease in the price of natural gas, which has been in our favor and our customers’ favor,” Sackett said. “We’re hoping the trend continues.”

Sackett said he is keeping his focus on growing his five companies but left room for the possibility of expansion.

“As a holding company, we are very opportunistic, but today our eyes are on our current ventures.”

See full story at Las Vegas Business Press.

Brian Rose Appointed President of Sperian Energy

LAS VEGASApril 29, 2015 /PRNewswire/ — Sackett National Holdings, Inc. (SNH), a leading provider of financial services data, energy, automotive and employment screening solutions and services, today announced that Brian Rose has been appointed President of Sperian Energy, a rapidly-growing energy industry subsidiary of SNH.

“I am pleased to welcome Brian to his new role as the President of Sperian Energy,” said Jevin Sackett, Chief Executive Officer of Sackett National Holdings. “Brian is a recognized leader in the energy industry, and brings with him both the vision and hands-on experience required to lead the rapidly-expanding business footprint of Sperian Energy,” Sackett said.

“As Sperian president, Brian will further enhance the company’s operational efficiency, and prepare it for expansion and growth into new markets, commodities and product offerings.”

Rose brings with him more than 25 years of leadership experience within the energy sector. Prior to joining SNH, Rose served as Executive Vice-President of Business Development & Supply at U.S. Gas & Electric, where he led the company from a single state/single commodity entity to a business selling both electricity and natural gas across 12 states.  Rose also previously served as Vice President of Energy Supply at Gateway Energy Services, an independent energy services company, as well as tenures with two start-up organizations—NUI Energy, and International Business Associates.

In his new role as President of Sperian Energy, Rose expects the company will continue its rapid growth servicing the increasing number of deregulated energy markets nationwide. “I’m looking forward to working with the entire Sperian team to build upon the impressive growth the company has experienced in recent years,” Rose said. “With more than 75,000 new energy customers expected in 2015, Sperian is well-positioned to firmly establish itself as an energy industry leader in the coming years.”

Headquartered in Las Vegas, Sperian Energy provides retail energy to both residential and commercial customers in multiple states with deregulated energy sectors. With its focus on competitive pricing, innovative technology and unsurpassed customer service, Sperian also offers energy customers unique loyalty and referral programs designed to help contain their energy costs.

About Sackett National Holdings, Inc.

Sackett National Holdings, Inc. (SNH) is a leading provider of information, technology and data services. For nearly 20 years, financial institutions, Fortune 500 companies and consumers nationwide have turned to companies owned and operated by SNH for products and services such as mortgage applications, credit data, valuations, background screenings and affordable energy. Using the latest technologies, SNH specializes in creating cost-effective products and services that enable partners in the automotive, energy, mortgage, finance and employment industries to better serve the needs of their customers. SNH’s entities include National Credit Center, Sperian Energy, PeopleFacts, and the SettlementOne family of companies consisting of SettlementOne Credit and SettlementOne Valuation. For more information, visit www.snhinc.com and www.sperianenergy.com

Media Contact:

Charlene Christman
Vice President, Marketing
cchristman@snhinc.com
702.757.2618

Photo: http://photos.prnewswire.com/prnh/20150428/212398

Deregulated Energy: When Less is More

Since the country’s inception, Americans have debated the role of government—and its regulations—in the free market.

There’s little new about the debate, with some arguing that government has a significant role to play in ensuring ‘fair business practices’, and others arguing that ‘unleashed’ entrepreneurial spirit is the engine that drives our economy.

And while that debate rages on, it’s instructive to look at the results of deregulation—or, put another way, the diminution of government oversight—on the nation’s retail energy sector.

A clarification: “deregulation” of the retail energy sector does not mean that there are no laws pertaining to the industry, merely that the government has freed up the sector for competition in an open marketplace; put simply—deregulating the retail energy sector means providing consumers (both commercial and residential) with a choice of which company they’d prefer as their provider of electric power or natural gas.

Read the entire blog post by SNH CEO Jevin Sackett here.