Message from GISI’s President Rick Newman on COVID-19

Message from GISI’s President Rick Newman on COVID-19

Rick Newman
Rick Newman, President

We have all been directly and consequentially impacted by the COVID-19 Pandemic as it presents the world with circumstances not faced in the modern era. We hope you are all healthy and safe.

Naturally our first business priority is for the well-being of our employees and their families. As an initial step we have adapted our contingency plans to include where feasible remote work protocols in accordance with CDC and other applicable best practices to safeguard the immediate health of our colleagues. Our teams have been advised to take all necessary precautions to protect themselves and their families.

It is impossible to compare recent events with past economic or geo-political disruptions. There is simply no basis to do so. However, we can share that our management teams are confident as we face this challenge with a committed talented group of employees working to maintain the continuity of our business so that we can, together, emerge from the effects of the Pandemic providing even greater service to our clients as they recover as well.

Thus far, the measures we have taken are enabling us to maintain service to our clients and maintain strong health and safety protocols in areas where governmental authorities are continuing to permit us to work, and where we believe it is safe to do so. We are not working at maximum efficiency because of the precautions we are taking to protect staff and because many office staff are working remotely. As you may observe in the media, conditions remain very fluid. In the near term, we expect working conditions to become even more difficult, and will continue to adapt our contingency plans to help us cope with the conditions as they change.

As we work through these challenges, we are fortunate the business we have built together has an experienced management team, is geographically diverse, has a strong balance sheet and cash position, and excellent relationships with our Syndicated Lending Group. Our management teams are committed to remaining resilient and providing a foundation for our company to continue to serve our customers, maintain a healthy and safe workforce and emerge ready to capitalize on new opportunities that may present themselves.

Though we are not able to predict the specific events we will face in the near-term, we feel confident that we have the financial and human resources necessary to manage our affairs through this crisis and be well positioned once normality returns.

As we make sure GISI continues to be well positioned for the future, our hearts and prayers are with each of you and your families as you work to stay healthy and safe, which we are sure are each of your priorities.

Sincerely,