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Jerry Baker
has founded many new companies, pioneered advanced data processing
technologies, personally taken companies public, and participated in
hundreds of
mergers and acquisitions. Fueled by Baker’s own experience
in the data processing industry, he founded, grew, and took public,
Inter-Continental Computing, Inc. (ICCI). ICCI became one of the
nations largest on-line, real-time computer firms servicing the credit
union and the savings & loan industry.
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ICCI’s
management team, worked with the Burrough Corporation and other computer
manufacturers and vendors to introduce several technological advances in
their industry. Some included on-line real-time computer processing, the
introduction of intelligent terminals, which provided for inputting and
receiving customer information on saving accounts, mortgages, share
draft accounts, loans, etc., distributive data processing. (Distributive
data processing was a means to connect many smaller
remote site
computers located across the nation to a much larger Central Computer
System. This allowed for sharing of data and the processing and
distribution of information through the intelligent terminals). Other
advances were electronic funds transfers, as well as remote cash
dispensing from a remote Automatic Teller Machine (ATM). ICCI, through
its Nationwide Online Real Time Distributive Computer Network, was
capable of processing 50,000 transactions hourly. The network operated
from 5:00 a.m. to 7:00 p.m. Central Standard Time (CST). Response time
for a transaction was in nanoseconds. Top |
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ICCI also
developed an in-house computer system for credit unions that included
computer hardware, application software, installation of the hardware
and software, training, conversion and ongoing support. These systems
sold for $500,000 to $2,000,000, based on the size of the credit union.
InterComments-January 1971.pdf |
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Through a subsidiary called (EMSS), ICCI developed and provided
computer software for the Property and Casualty Insurance industry, EMSS
was sold and eventually became part of Equifax Corporation, which is a
major, well known credit reporting company. (See
additional history of EMSS) |
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Jerry’s original company,
Inter-Continental Services Corporation, was started in 1958 with the
help of family investments totaling two thousand dollars ($2,000) from
his father Glen Baker and three brother in-laws Notzie Rotolo, Tom
Fangrow, and James Bell. Through its numerous divisions, the company
built and developed a large national collection agency whose clients
were major oil companies, department stores, hospitals, etc. Top |
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| Inter-Continental Services Corporation's modern three level, 33,000 square foot building provided ideal working areas for All State, ICCI and North American Credit. The corporation's executive offices were also located in this beautiful building. | |||||
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A primary source of revenues and growth was derived from another division, All State Credit & Research, Inc., which was the nations largest credit card retrieval company that provided credit card pick up services for all the credit card issuing companies, which during the 1960’s and 1970’s issued millions of credit cards to businesses and consumers; however at that time the issuers had no way of stopping usage in the event of miss-use, non payment of statement charges, fraud or stolen cards. Hence, this need provided an opportunity for Baker’s company to become a significant part of the credit card industry from 1962 until point of sale verifications was initiated in the mid-1970’s. Jerry’s two brothers-in-law, James Bell and Tom Fangrow ran these national operations. |
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| James F. Bell, Vice President ICSC
(left) evaluates All State's operation with Thomas F. Fangrow,
Director. All State's system required rigid controls to assure
clients of maximum security of their assigned accounts for the cards
to be retrieved by All State. Top |
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Bob Ernst who originally started
working with Jerry in 1968, is now an associate of JB&A, and was
also a vital part of the management team that ran the credit card
pick up operations of
 All
State Credit & Research, Inc. Initially, operating out of Santa
Anna, California, Bob developed for All State Credit a
personalized Credit Card pick up program for Visa, MasterCard,
American Express and Diners Club credit card issuers. This service
provided over 300 field representatives,
that Bob had assembled, to go to a person’s residence or place of
employment and pick up a clients credit card. Bob also was the West
Coast Regional Vice President of the companies collection agency
operations and was responsible for operations in San Bernardino,
Riverside, Placentia and Los Angeles, CA.
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Inter-Continental Services Corporation
was taken public in 1969.
In 1971,
ICSC’s common stock was one of the first 2,400 companies
listed in the N.A.S.D.A.Q
trading system out of over 30,000
privately help companies of that time.
 Both of the corporations were sold in the early 1980’s
to larger companies. |
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ICCI was sold to CitiBank of New York in 1980, which CitiBank later sold to FiServ, Inc. a large computer services company based out of Brookfield, Wisconsin. Today, FiServ still operates and markets to credit unions under the product name, Galaxy, which was inspired by Baker in 1977. The two thousand dollar ($2,000) investment in 1958 by the original founders of Intercontinental Services Corporation returned over $10.5 million, solely for the computer operations sold to CitiBank.
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In 1988, Baker sensed a need for a
merger and acquisition consultant in the respiratory/durable medical
equipment field, and influenced by his own lifetime experiences, formed
Baker & Associates, Inc. to be a consultant in the healthcare
industry. Jerry Baker & Associates, Inc., which was formed in 2002, and
Baker & Associates, Inc. are both owned by members of the Baker family. |
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Baker has been
recognized by his entrepreneurial leadership and can relate to the many
considerations a business owner may have when trying to decide whether
or not to sell their business. In 1974, Jerry was recognized as the
Free Enterpriser of
The Year by the Junior Achievement
organization in the Kansas City, Missouri area.
 Jerry possesses the
wisdom, knowledge and understanding to relate to business owners and
helps them to reach their financial goals, whether that be for
retirement, investments, or perhaps to begin a new company. |
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| Steve Weber, Assistant Financial Editor for the Kansas City Star pictured with Jerry at the awards ceremony. | |||||
