President's Message
 As we face the most turbulent times in the global financial markets since the Great Depression, I am pleased to report that Paragon Global Resources and our family of companies including Paragon Relocation Resources, our core business is financially sound. Our balance sheet is strong. Our funds are secure. We have no meaningful debt or crushing interest expense, as is the case with many companies in the relocation industry. Our credit lines are alive and well. Like all relocation companies, we are impacted by declining real estate markets and the turmoil in the mortgage industry. This challenge requires us to work even harder to assist our customers and clients.
Most important, we are still successfully relocating families achieving high service ratings in spite of all the challenges that we face. While I can’t say it is business as usual during these difficult times, I can say we are doing business and that our volume is following normal seasonal patterns. In addition, as a relocation industry leader, we have added several new clients in 2008, which is a testament to our employees, reputation and the results we deliver year after year.
| "...We have no meaningful debt or crushing interest expense, as is the case with many companies in the relocation industry. Our credit lines are alive and well." |
At the same time, we continue to focus on our ten year plan to extend our reach around the world. The Paragon brand is now evident in nine countries with boots on the ground and more coming in the months ahead. We have affiliates in 120 countries allowing us to relocate our customers any where, any time. GenEquity Mortgage, our wholly owned subsidiary, is successfully funding mortgages throughout the United States at competitive rates, which is more important today than ever. Shortly, Paragon Career Resources will add to its menu of services. And, in 2009 we will expand Paragon Decision Resources, our mobility consulting subsidiary, to include other human resource consulting disciplines. Times are tough, but there is no going backwards. The times require us to be even more focused, disciplined and passionate about our business and our dealings with customers, clients and partners.
Since Paragon’s founding in 1991, we and our clients have faced other downturns only to come back even stronger. Paragon has been built on a solid foundation that includes our financials, our employees, experienced management, great service and unbridled optimism, all of which have been the basis of our success. During these uncertain times, we fall back on our core principles:
Corporate Ethical Standards and Integrity - We implement business operations and practices in keeping with high ethical standards and integrity, both as a company requirement and as an integral part of our corporate culture.
Commitment to Quality - We apply Six Sigma practices, performance metrics, client and transferee evaluations, careful monitoring of our suppliers and extensive training for our employees to form the basis for our Quality Assurance Program.
Collaboration - We work together with our employees, clients and supplier partners to insure the best possible services, programs and ideas are implemented for our clients and customers. We build on our commitment to quality by fostering a proactive work environment for our employees and by working in partnership with our clients and supplier partners to develop and deliver solutions that exceed our clients' expectations.
Cost Savings - We deliver services that provide a tangible return on investment for our clients. From reducing exceptions to policy and relocation cycle time to minimizing expenses, Paragon's services return far more in savings than they cost.
Customers for Life - We maintain long-term business relationships that are the ultimate affirmation of our follow-through and commitment. Promises made are promises kept.
Community Involvement - We demonstrate a caring attitude for our employees and the people we serve. We recognize that we are what we give back to our community. We feel a genuine need to help others is important to our success.
As long as we stay focused on these principles, we can face any challenge.
| 
