Business Credit articles from April 2004

Business Credit archives from April 2004

NACM Calendar.(Calendar)
April 1, 2004... APRIL April 5 Teleconference: Creditors' Committee Presenter: Wanda Borges, Esq., Borges and Associates For more information, please contact the NACM Meetings Department. April 14-16 FCIB International Credit Executives...

One step closer towards realizing the vision.(Credit Column)(National Association of Credit Management)
April 1, 2004... The NACM Board rolled up its shirt sleeves in the past year and began working to create a Strategic Plan for our organization. As most of you know, a strategic plan is a document used by an organization to help align its organization and budget...

Consignment the right way: file a UCC financing statement.(Credit Column)(Uniform Commercial Code)
April 1, 2004... Frequently vendors enter into consignment arrangements with their customers. In a typical consignment, a vendor does not book a sale until the customer reports that it had sold or used the consigned goods. In many instances, vendors intend...

From tug-of-war to teammates: credit and sales professionals are learning to stop sparring over delinquent accounts and disputed invoices and to work together to make money for their employers.
April 1, 2004... In spite of recent improvements, credit and sales staffs still spend too much time jabbing at each other with their oars instead of rowing together to propel the corporate boat forward. Companies need to bring sales and credit together for...

Networking success: discover the tools you need to get to the top.(Credit Column)
April 1, 2004... Be honest. The last networking event you attended was probably about as exciting as watching paint peel. Striking up a conversation with a stranger is never easy, and as a result you've probably beard plenty of ho-hum conversations that went...

Ten tips for motivating employees.(Selected Topic)
April 1, 2004... A credit department, like all other areas of the business, is only as effective as the people who work in it. If employees are not motivated, their lackluster attitude will be reflected in their performance, and service levels will quickly...

The credit and sales relationship.(Selected Topic)
April 1, 2004... Credit and sales are on the same team! The credit department is not a "sales buster" and the sales department does not quote "net never." Sales and credit are the greatest assets of a company. Sales delivers profits, and credit delivers...

Communicating with stakeholders in a crisis.(Selected Topic)
April 1, 2004... Successful business turnarounds depend largely on two elements (and perhaps a bit of luck): Dramatic change in the operating economics of the business, and communicating, through every phase of the turnaround, how these changes will improve the...

Seventh Circuit affirms lower court order rejecting preferred treatment for critical vendors.(Bankruptcy news: extra, extra!)
April 1, 2004... The United States Court of Appeals for the Seventh Circuit in the mart case affirmed the District Court's reversal of an order proving Kmart's payment of the pre-petition claims of "critical vendors". Kmart paid approximately $300 million to...

Arbitration can help you recover money faster without the acrimony of litigation.(Selected Topic)
April 1, 2004... Commercial credit departments face a dilemma: they need to recover overdue money as quickly and easily ms possible but, in so doing, must be careful to avoid jeopardizing longstanding business relationships. They also have to resolve countless...

What have you done for me lately?(Selected Topic)(credit)
April 1, 2004... What have you done for me lately? This statement sounds familiar to all of us, but the real question is, have we asked ourselves what we truly have done to assist stakeholders in our lives? Whether we recognize it or not, this is a question...

Credit Congress & Expo 2004: make plans now to attend NACM's 108th Annual Credit Congress & Expo 2004.(Calendar)
April 1, 2004... Schedule of Events Please visit www.nacm.org for complete session information. Sunday, May 15 8:00am - 5:00pm Registration & NACM Bookstore 8:30am - 5:00pm Certificate Sessions (week-long courses) 11800-11804. ...

Hot spots: Morocco.(International Section)(economy)
April 1, 2004... Morocco and the U.S. have concluded a bilateral free trade agreement. It is only the second Washington entered into with a Moslem nation (after that with Jordan in 2001) and the first with a country in Africa. The deal is part of an effort by...

Renewed growth in public-private partnerships.(International Section)
April 1, 2004... After a brief period of slow growth during the Asian financial crisis and the global economic downturn, public-private partnerships are now reemerging as a major vehicle for business expansion in both developed and developing countries. In the...

Worldwide credit conditions: at a glance.(Illustration)
April 1, 2004... March ECONOMIC GROWTH GDP % change from previous quarter Q1 03 Q2 03 Q3 03 Q4 03 U.S. 0.4 0.8 2.0 1.0 Canada 0.6 -0.1 0.3 0.4 Mexico -0.5 ...

US trade.(Credit Briefings)(Brief Article)
April 1, 2004... US TRADE. US exports rose 4.6% in 2003, but imports rose 8.3%, and the US trade deficit hit $489.4 billion, up from $418.0 billion in 2002. The 2003 deficit is the largest on record in actual value and as a portion of GDR The US deficit with...

Chinese reforms.(Credit Briefings)(Brief Article)
April 1, 2004... CHINESE REFORMS. Finance officials in China announced a series of reforms in mid-February to stabilize the country's finance system and reduce the risks stemming from its debt-heavy banks and developing equity and insurance markets. The reforms...

Korean exports.(Credit Briefings)(Brief Article)
April 1, 2004... KOREAN EXPORTS. South Korea's worldwide trade reached $373 billion in 2003, an 18.6% increase over 2002. Korean exports rose 19.6%. Imports rose 17.5% and the trade surplus was $15.5 billion for the yeas Fay Hansen is a business and finance...

Mexican growth.(Credit Briefings)(Brief Article)
April 1, 2004... MEXICAN GROWTH. The Mexican economy expanded at a 2% annual rate in the fourth quarter of 2003, up from just 0.4% in the third quarter GDP growth rot the year was 1.3%. Export growth helped fuel the recovery, with exports up 6.4% in the Fourth...

Canadian rates.(Credit Briefings)(Brief Article)
April 1, 2004... CANADIAN RATES. On March 2, the Bank of Canada cut its key overnight rate by 25 basis points to 2.25%, in the second rate cut this year. Inflation remains low at 1.2%, with cone inflation at 1.5%. With the new 25 basis points cut, the spread...

Credit improvements.(Credit Briefings)(Brief Article)
April 1, 2004... CREDIT IMPROVEMENTS. Coface, the credit risk ratings agency, has observed improving company solvency, notably in the US and Japan, In total, the average world risk index, derived from country ratings weighted by their contribution to world GDR...

Grasping for facts: tapping into hidden sources of business intelligence.(Selected Topic)
April 1, 2004... DO you ever forget your login IDs, passwords, PINs and personal codes, only to be unable to access them because you've also forgotten the secret word you have to enter in order to recover them? Have you experienced confusion when the voice of...

Meet Rich Heavener, CCE: Vice President, American & Efird, Inc.
April 1, 2004... Rich Heavener has worked in the credit field for almost 35 years, and has been an NACM member since 1973, when he joined NACM-Carolinas while employed with Gifford Hill. Later, he joined NACM's New York affiliate and now is a member of NACM...

Becoming a secured creditor.(Credit Basics)
April 1, 2004... Any creditor, including a trade creditor, can become a secured creditor. Secured creditors enjoy an advantage over unsecured creditors in the event that a customer files for bankruptcy protection--and even in cases in which the customer is...

Today's credit markets, relationship banking, and tying: excerpted from an article by The Office of the Comptroller of the Currency, International and Economic Affairs Department, Law Department.(Selected Topic)
April 1, 2004... Considerable attention recently has focused on the practice of "relationship banking" widely employed ha the financial services industry, and on the issue of possible "tying" by banks. Most commercial banks have practices in place to evaluate...