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Resource Corporation of America history
Resource Corporation of America company history timeline
1966: Company is incorporated originally as SMTR Corp.
Trading of its stock was suspended in March 1976, and Trahan resigned.
During the first 30 years of existence, REITs were hindered in their growth because they were allowed only to own real estate; other parties had to manage the properties. It was the Tax Reform Act of 1986 that began to change the nature of real estate investment.
After changing the name of the company to Resource America in 1989, Cohen began to display his ability to think outside the box.
He started Off Wall Street in 1990, gaining early recognition for a report critical of TCBY, whose stock plummeted by 75 percent.
1991: Company becomes involved in buying real estate loans.
In October 1997 Resource America filed papers regarding its proposed REIT, Resource Asset Investment Trust, indicating that it intended to limit its ownership stake to less than 10 percent.
The company hired an outside auditor, Grant Thornton LLP, which later in September 1998 announced that Resource America's accounting methods were correct.
2000: Fidelity Leasing is sold to European American Bank for $583 million.
Although the company appeared to be reverting to its earlier existence as an energy company, with most of its activity in 2001 involving new drilling and the acquisition of oil and gas rights, it would not be surprising to see Cohen eventually take Resource America in an entirely new direction.
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Resource Corporation of America competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| CPSI | 1979 | $342.6M | 2,000 | 12 |
| Emergis | - | $930.6M | 1,962 | - |
| CSI Companies | 1994 | $75.0M | 324 | 4 |
| Pinnacle Business Solutions, Inc. | 1966 | $280.0M | 919 | - |
| Ecova | 1995 | $1.5B | 3,000 | - |
| AmeriPath Holdings Inc | 2002 | $1.4B | 3,979 | - |
| Path Forward | 2016 | $20.0M | 350 | 4 |
| Auto Injury Solution | 2001 | $12.0M | 3,000 | - |
| COMPS.com | 1982 | $870,000 | 30 | - |
| Policy Studies | 1984 | $220.0M | 1,313 | - |
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Resource Corporation of America may also be known as or be related to Resource Corporation of America and Resource Corporation of America and Recovery of Texas Inc.