March/April 2009

Industry Mourns the Loss of an Icon

By T. Steel Rose

When the TECH'08 conference ended this past November, the staff was happily exhausted. But we had one last invitation: dinner with Harry and Paula Strausser Jr. They had been to every event over the past four years. Harry Strausser Jr. welcomed me into this industry and educated me on debt buying years ago. We had a wonderful time regaling over how terrific this industry has been. Albert Rookard joined us. He told Harry what an honor it was to talk with an industry icon — a fitting tribute. Indeed, Harry Strausser Jr. was bigger, bolder, friendlier and happier than anyone in the industry.

He recently retired as president of Action Management Inc., in Elysburg, PA. He passed away on Jan. 7, 2009, at the age of 72. Strausser, Jr. was a familiar face at ACA International's Committee of 100 meeting. He began his collection career with Beneficial Finance in 1957. He launched Action Management in 1974. Ten years later, this Pennsylvania "coal cracker" made good and built his own building for Action Management. Ten years after that momentous event, he purchased a Discover credit card portfolio and began to focus his collection firm almost entirely on purchased debt.

There are hundreds of Harry Strausser Jr. stories. Collection Advisor published a blog on collectionadvisor.com in his honor, and the condolences poured in. Thanks to the kind permission of his son, Harry Strausser III, we present a few to remember his father:

Harry Jr. loved to "go out on the town" and dress in his tux. His favorite part of travel was attending the final black tie events at industry meetings and finding high-class cocktail receptions across the world. Harry III remembered one trip to London more than 10 years ago: "Dad wanted to attend a play in the famous theater district. We HAD to wear tuxes — that is what the English do. It was a wonderful play. We were dressed to the nines — AND the only people in the entire theater dressed in tuxes. But it was one of those DAD experiences!"

Harry Jr. maintained strong friendships in Australia. One friend, Neil Wood, JP, MCE, FIMA, Group Managing Director, Global Credit Solutions Pty Ltd, reminisces: "I will never forget the time in China with Harry leading several hundred Chinese shouting out, 'FREE ... DOM ... FREE ... DOM ... ,' pumping his arms in the air as we headed back to the factory after emptying the fridges of the local beer at the small shops nearby. I believe he helped set the pace of capitalism, at least in Shenzhen, as well as Hong Kong."

There are so many stories of how Harry Jr. touched lives — from comments about his generosity and what a "character" he was to recollections of his booming voice,  kindness, stubbornness, temper and denial that any rules applied to him. Jay Gonsalves, president of ACA International, recounted to Harry III: "I will never forget running into your dad in an elevator at the Washington ACA convention. He was the only one in the elevator when I entered. As I chatted with him, I noticed a wisp of smoke coming from behind him in the corner. He had, as usual, a cigarette burning but concealed behind his back. They broke the mold when they made your dad."

For Harry III, though, the conversation that had the most impact was with a 70-year-old distant relative whom he had not seen in years. In his eulogy, Harry III recounted calling her to inform her about his dad: "She has never been a very positive or happy person, but faithfully sent birthday and Christmas cards annually until a few years ago. Sometimes it is in the realization of the misfortune of others that we come to understand the gifts of our own lives. I was so struck by the sadness of her comments that I started to write them down. She said, 'Life hurts. Life is bad. Love will kill you. Happiness never comes. I am heartbroken. It is just my husband and I and our two kids … but we are not a family. No one is close. My life is gone, and I have nothing to show for it.'

"A lesson most of us have learned in our lives and a key to our happiness is that life is wonderful; love will hold you up; happiness comes to those who open their hearts to others; family is not about being related but about developing special relationships. And if we believe in these things, we will have much to show and be thankful for when our time is up."

Harry Jr. was also touched by an encounter his son had about 20 years ago at the Grand Canyon in Arizona. Harry III, was there to make a presentation and would wake very early and walk to the rim of the canyon to watch the sunrise. One morning, as he approached his favorite spot, Harry III saw the profile of a small-framed woman sitting on a rock waiting for the sunrise. She saw Harry III and motioned for him to join her on the rock. "Sit down with me here," she said. "It is the best seat in the house."

They sat there together, quietly, as the canyon morning unfolded. They eventually introduced themselves. Her name was Ellen. She was ill — very pale, very thin. Her hair was just starting to grow back from her treatments. She was around 60 years old and proceeded to tell Harry III that six months ago, she had been diagnosed with cancer and given six to nine months to live.

She was an accountant in New Jersey, outside of New York. She lived the fast-paced life and rarely traveled. She waited and waited to save her money for "retirement" so she could see the world. She always dreamed of going to the Grand Canyon, a magical place. When she was diagnosed, she sold her home, quit her job, received the few treatments she could handle and headed to the canyon. She rented a room at the magnificent El Tovar Lodge to enjoy her final days immersed in the nature's beauty.

Harry III and Ellen sat until Harry had to leave for his presentation. As he rose, Ellen held out her hand and he helped her to her feet. "She then gave me a big hug," Harry III said, "and thanked me and said the doctor told her that a few hugs a day would keep her around a bit longer. Then, in the middle of our embrace, she said, 'Why is it that so many of us don't learn to truly live our lives until there is such little life left? Don't wait to live.'

"I've never forgotten that day or those words. And how incredible, that a couple years later my own Mom would be similarly diagnosed with cancer. She wanted to see the Grand Canyon. And yes, we sat together on that same rock."

This past year, Harry Jr. was moved by the movie The Bucket List — a story of two men in their late 60's, one a billionaire and one of modest means. They share a room in a hospital, and both discover they are terminally ill. They have dreams they have not met, things they have not done, places they have yet to travel.  They prepare a list of these dreams — the "bucket list" — and accomplish them one by one together before they die.

"Live like you were dying" is a popular country song by Tim McGraw. It's about a man in his early 40s who learns he has cancer. The man describes what he does upon getting the news: "I went skydiving. / I went Rocky Mountain climbing / I went 2.7 seconds on a bull named Fu Man Chu / And I loved deeper, and I spoke sweeter / And I gave forgiveness I'd been denying / And he said someday I hope you get the chance / To live like you were dying."

If you knew Harry Jr. well, you knew he said he "didn't have long" for the past 20 years! He always focused on the limited time we all have. In many ways, like the song, he did "live like he was dying,"  which is why he surrounded himself with the people and places and things in life that brought him happiness — a perpetual "bucket list," perhaps.

Harry III said, "as human beings, we do miss those we lose. I believe that, the ones that remain here after a loved one's passing are often left with many emotional thoughts and memories. I think that our lives are very similar to a home. Each person in our life represents some room within that home. They help 'fill the space' that is the very essence of our lives. Some of you because of your casual acquaintance with my dad, [that space] is like a small closet in your life. You may not visit that small place often in coming years, but it will always be there.

"Some of you are here today because your relationship with my dad represents a larger room, a special place — perhaps the center of your home.  For some, it was indeed the "Great Room" of your life. The closer and more meaningful the relationship, the larger the space to allow for a lifetime of memories to be stored there. 

"It was Oliver Wendell Holmes that once said, 'Most of us go to our graves with our music still in us.' Some said, dad 'stepped to the beat of a different drummer.' But whatever relationship you had with him, whatever room you have set aside in your life home for him, the music that was his life will echo on and provide us with fond memories and a warm heart."

"My dad was in the collection business, too. My seven brothers and sisters grew up in our family businesses together. My dad passed away 22 years ago, but the warm memories of his life and the best times we had together are just as vivid today as then. I am confident that mom and dad are with us forever through these wonderful memories. ... "    
Michael T. Gardner, President of Credit Clearing House of America, Inc.

"Harry, your dad did a lot of wonderful things, but I think my peers would agree with me in saying that his proudest achievement was being your dad.  ... I'm glad to have known him personally and professionally."
Donna Nicholson Stief, Executive Director Collection Service Division President, Mid-Atlantic Collectors Association

"The industry has lost an incredible icon. I  will always remember him."
Harry Albert

"Your father taught me a great deal throughout the time I knew him. .... He will be sorely missed."
Richard Doane

" ... Our life at ACA will not be the same without him. He was a powerful force behind many initiatives.  ... "
Rozanne M. Andersen, CAE ACA International Executive Vice President and General Counsel

" ... what always stood out in my mind was his dedication to the collection industry in general along with a stubbornness, which I always termed as focused on the issues and concern toward where the industry was headed! ... "
Edward L. Torchia

" ... Your dad was one of a kind. ... I will always remember his warmth, sense of humor and that his concern was always that everybody has a good time. How could you not when he was in your midst?"
Michael Catarino

" ... Your dad was so kind to tell me last July that he thought we were doing a great job with the Asset Buyers Division. That meant much to me  ... "
Carol Freedland

" ... Your father was always willing to share his knowledge and offer encouragement. He will be missed, and I am grateful to have known him."
David Cerna, Chief Operations Officer, High Desert Creditors Service

" ... he was a friend to all, and I will not forget his smiling face and booming voice. The last time I saw him I ended our conversation with his hand in mine as I paraphrased a quotation from Shakespeare: 'Would that we could know the end of this day's business ere it comes, but it must suffice to say the day will end, and the end will be known, and if we meet again, we will smile, and if not, let this parting be well made.' My parting with your father was well made. May God bless your family."
Ron L. Brown