Business Credit articles from July 2003

Business Credit archives from July 2003

The scoop.
July 1, 2003... Learning From Your Mistakes Making a mistake and paying the price is a good way--and the hard way--to learn a lesson. Learning from someone else's mistakes is an easier way. In Why Smart Executives Fail and What You Can Learn From Their...

NACM Calendar.
July 1, 2003... AUGUST August 11, 2003 Audio Teleconference: Current Cases in Bankruptcy Presenter: Wanda Borges, Esq., Borges & Associates For more information, please contact the NACM Meetings Dept. August 25, 2003 Teleconference:...

Reaching for 100 percent.(Credit Column)
July 1, 2003... When I was a boy, my mother always told me to aim for 100 percent, with the likelihood that I'd get 75. I always questioned that advice, since I was never happy with 75 percent when I was--after all--striving for 100. That was only 10 points...

Letter of credit beneficiary beats issuing bank based on conforming documents and untimely and improper dishonor.(Credit Column)
July 1, 2003... Introduction A letter of credit issuing bank must pay a letter of credit beneficiary that presents documents conforming with the requirements of the letter of credit. By the same token, the bank can refuse to pay on a letter of credit...

Growth in turnaround business may be leveling off.(Communique)
July 1, 2003... Indications from the latest poll of Turnaround Management Association (TMA) practitioners are that the explosive growth of the turnaround industry in the past few years may have peaked and is be beginning to level off. More of the respondents...

Is there a weak link in your supply chain?(Credit Column)
July 1, 2003... The most successful businesses regularly review the quality of their professional relationships. "But this is so obvious," people say, "We understand what we have to do to be successful." Even though the basics may be obvious, how many of us...

A great reputation speaks for itself.
July 1, 2003... For more than 50 years, Robert Half Finance & Accounting has been the world's first and largest recruiting firm specializing in the placement of accounting and finance professionals. Listed below is a sampling of positions available through...

New financial standards: Sarbanes-Oxley Act has far-reaching impact on financial community.(Selected Topic)
July 1, 2003... The Sarbanes-Oxley Act of 2002 (Public Law 107-204) is perhaps the most far-reaching legislation affecting the financial services industry since the U.S. securities and exchange laws were passed in the wake of the Stock Market collapse in the...

Meet Ralph Rimualdo, CCE NACM-National Chairman.
July 1, 2003... Unlike many who eventually choose credit as a career, Ralph grew up understanding credit, as he went with his father on rounds to collect his accounts receivable when he was a kid. It is no accident that he ended up in that field as an adult....

NACM's 107th Credit Congress--member perspective.
July 1, 2003... Members Jerry A. Drake, CCE and Norman Taylor, CCE contributed to this year's coverage of NACM's annual Credit Congress, as well as several NACM staff. In my never-ending quest to continue my education, certification points and...

The scam that will not die: Nigerian advance-fee scams have fooled Americans for decades. Thanks to the Internet, they're now staging a disturbing resurgence.(feature article)
July 1, 2003... Imagine turning on your computer and finding an e-mail like this: CONFIDENTIAL: Dear Sir, Good day and compliments. This letter will definitely come to you as a huge surprise, but I implore you to take the time to go through it carefully as...

Warning signs of fraud: business credit fraud is a catastrophic risk: even if your company survives a major fraud, it can be left badly damaged.(Selected Topic)
July 1, 2003... Credit fraud is one of the fastest growing challenges for businesses today: costing American businesses $400 billion in 1996, to over $600 billion today. Increasingly, it's carried out by sophisticated criminals targeting a widening circle of...

Managing credit and application fraud risks in a volatile economy: technology is key.(Selected Topic)
July 1, 2003... With lending as one of the key drivers of today's economy, lenders are faced with considerable opportunities--and risks. The Internet has speeded up the process--and expectations--of loan originators. Adding competitive pressures to be both...

Defending a preference claim under the solvency defense: what the vendor must prove.(Credit Column)
July 1, 2003... Your customer files Chapter 11. Two years later, you receive a demand letter from the litigation trustee demanding return of payments within the 90 days of the customer's filing. You consider the common preference defenses--contemporaneous...

Securing cyberspace.(Selected Topic)
July 1, 2003... An article in The Washington Post on May 20, 2003 explained how a Washington D.C.-based provider of ethnology for online payment transactions was attacked by a group of hackers from Russia. The nightmare started when the provider received an...

Latin America economic growth and trade after Argentina.(Focus on Latin America)
July 1, 2003... Latin America is inching slowly along the road to recovery from the crisis that began in Argentina in 2001 and quickly swept though most Latin nations, pulling down trade across the region in 2002 and into 2003. U.S. exports to South America...

At a glance: worldwide credit conditions.
July 1, 2003... CREDIT BRIEFINGS CREDIT BRIEFINGS ECB DROPS RATES. The European Central Bank decided on June 5 to cut its main policy variable by 50 basis points, to 2.0%. The move is expected to reduce the euro's strength and boost sagging exports, but...

Hot spots: China.(International Section)
July 1, 2003... The short-term effects of SARS on the Chinese economy have been considerably less severe than widely feared and the long-term ones will be virtually negligible. This is becoming fairly obvious, now that the World Health Organization has...

The Ten Commandments of the economic crime "boss".(Selected Topic)
July 1, 2003... The Ten Commandments of the typical fraud "Boss". How the most hardened fraudsters run their "businesses"... Check fraud, identity theft, and securities fraud. The type of economic crime is unimportant. Today's white-collar mobster...