SOURCE: Leo Wells

Leo Wells

February 01, 2010 03:03 ET

Leo Wells Speaks on Debt and the Recession

Wells Shares His Views at Terry Third Thursday, the Breakfast Speaker Series at University of Georgia's Terry College of Business

ATLANTA, GA--(Marketwire - February 1, 2010) - Leo Wells, founder and president of Wells Real Estate Funds, spoke to a standing-room-only crowd last week at Terry Third Thursday, the breakfast speaker series of his alma mater, the University of Georgia's Terry College of Business. Mr. Wells, a 1967 Terry graduate in economics, picked a provocative topic: "Why I Love This Recession."

Wells explained that despite the hardships brought about by the economic turndown, one positive note has emerged for business leaders and consumers alike: new lessons in the dangers of debt. Those not owing money on cars or homes -- or speculative business ventures -- have far less concern over the recession than those saddled with excessive debt, he noted.

A 30-year veteran of the real estate brokerage, sales, and management industries, Leo Wells was honored in 2006 with the Distinguished Alumni Award from the Terry College. He also was the national winner of the 2003 Ernst & Young Entrepreneur of the Year Award in the financial services category.

In 2009, his company was named Atlanta's "Best Place to Work" among mid-sized companies by the Atlanta Business Chronicle, and Mr. Wells was elected to the Board of Governors for the National Association of Real Estate Investment Trusts. Also in 2009, the Southeastern Chapter of the Real Estate Investment Advisory Council inducted Mr. Wells into its Hall of Distinction at Georgia State University.

Quotes: Leo Wells

"Sometimes life's greatest lessons are the hardest to learn. Times are currently difficult, but we still have much for which we can be thankful."

"I am optimistic about the future. While we're waiting for better times, however, we can learn from this recession, and be better prepared for the future."

"This recession has taught us some new lessons on the dangers of debt. Those who don't owe money on cars, houses and credit cards are in pretty good shape."

Video of Leo Wells' remarks may be seen on YouTube:

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