MANAGEMENT
Michael P. Pracht, President & CEO
Mr. Pracht was recruited to help create and lead US Railcar during VRG’s acquisition of the Colorado Railcar DMU and related assets. Mike’s extensive rail transportation background includes several executive positions at leading global companies in operations, marketing/sales, and business development with impressive results in organizational turnaround/profitability, new product introduction, improved customer satisfaction and increased shareholder value with successful IPO and M&A offerings on the NASADQ.
Prior positions include Executive Vice President at AnsaldoBreda; Marketing/Sales/BD Vice President at Siemens and Ansaldo Signal; Systems Division VP at Union Switch & Signal and Executive VP/General Manager at Ansaldo/Transcontrol.
Mike has testified before Senate Commerce and House T&I Committees advocating passenger rail and the need for a more balanced national transportation policy that includes air, road and rail with comparable priority.
Industry board memberships have included Chairman of the Passenger Transportation Committee at the Railway Supply Institute; Planning Chair for the Railway Systems Suppliers Association; Marketing Committee Chair for the National Railroad Construction & Maintenance Association; and seats on the Governing Board of the Railway Progress Institute and High Speed Ground Transportation Association.
Mike holds a Bachelors of Science Degree in Management & Economics from the State University of New York.
Barry H. Fromm, Esq. Chairman
Mr. Fromm, Founder, Chairman and CEO of Value Recovery Group, Inc. (VRG), is an international banking, workout, collections and real estate attorney with 18 years contracting and partnering experience with state and federal credit agencies.
In the decade of the 1980’s, Fromm was a contractor for the FSLIC, the FHLB, and the RTC. During the 1990’s, Fromm managed contracts and partnerships for the RTC and the FDIC. He and his firm have been recognized as a leading company in the U.S., performing asset valuations, asset management and disposition services, and debt recovery.
VRG, under Fromm's leadership, has retained its 15 year collection partnership with the FDIC, enjoying FDIC's highest ranking in the U.S. It has a collection contract on a multi-billion dollar portfolio of distressed tax and other receivables for the state of Ohio. VRG also processes and collects on all export insurance and loan guarantee claims (of $20 million or less) for the Export-Import Bank of the United States.
Mr. Fromm began his career in banking with National City Bank. He then became Corporate Counsel for Mid-America Federal S&LA, was a financial institutions consultant for Deloitte & Touche, and then Senior Manager for PriceWaterhouseCoopers.