Business Credit articles from June 2005

Business Credit archives from June 2005

Montana reduces retainage level on public contracts.(front page)(Brief Article)
June 1, 2005... On April 15, Montana Gov. Brian Schweitzer (D) signed into law a reduction in the maximum retainage rate from 10 to 5 percent on public works. The law also establishes equal retainage levels for act tiers, and provides for interest on late...

NYSE to merge with electronic rival.(front page)(New York Stock Exchange)(Brief Article)
June 1, 2005... The 213-year-old New York Stock Exchange announced a merger with all-electronic rival Archipelago Holdings Inc., taking Wall Street by surprise, and transforming the NYSE into a for-profit, publicly traded enterprise. By offering a fast...

SEC chairman says agency weighing revisions to anti-fraud law requirements.(front page)(Securities and Exchange Commission)(Brief Article)
June 1, 2005... The chairman of the Securities and Exchange Commission told Congress that the agency was weighing changes to reporting requirements for companies. Key requirements of the Sarbanes-Oxley Act, born of corporate scandals, are getting critical...

China pushes state firms into bankruptcy.(front page)(Brief Article)
June 1, 2005... The Chinese government plans on pushing 1,828 ailing Large and medium state-owned enterprises into bankruptcy from 2005 to 2008, which had run up $147.5 billion in debt by the end of 2003. More than 2.8 million people will likely be laid off in...

European buy-out market continues to break records.(front page)(Brief Article)
June 1, 2005... The European buy-out market reached a record 80.2 billion in 2004, according to the Centre for Management Buy-Out Research (CMBOR). The figures are the most comprehensive compilation of pan-European data for 2004 and show that continental...

Commentary.
June 1, 2005... In my September 2004 article, I talked about Change being the sixth "C" of credit. In writing my last article as your National Chairman, I look back over the past few months and recall the many changes that have taken place... from changes in...

Pay attention to interest rates.(SELECTED TOPIC)
June 1, 2005... 2004 proved to be a year of strong growth, low inflation and low interest rates, despite a wobbly labor market and political uncertainty. For 2005, we expect to see continued favorable conditions overall, but a somewhat slower growth rate....

Credit risk--unavoidable but manageable.
June 1, 2005... Selling products or services to business customers on credit is indispensable in generating sales profits for most companies. The increasingly competitive global economy often exerts more pressures on companies to sell products on credit....

Subcontractors and materialmen: know your rights!(REQUIRED READING)
June 1, 2005... Subcontractors and materialmen are afforded numerous protections when shipping to a questionable contractor, or any contractor for that matter. As a subcontractor or materialman, it is important that you are aware of these protections and how...

A standby letter of credit payment within the preference period is not a preference.(CREDIT COLUMN)
June 1, 2005... One of the most frequently asked questions from trade creditors is whether a drawing and a payment on a standby letter of credit during the 90-day preference period is recoverable as a preference. A letter of credit is a security device where a...

The 2005 National Honors & Awards Program.
June 1, 2005... On behalf of the National Honors and Awards Committee, NACM is proud to acknowledge the following individuals for their continuing dedication and contributions to the field of business credit management and this Association. NATIONAL...

Update on changes in federal agencies.(REQUIRED READING)
June 1, 2005... During the past couple of years, the federal government has been going through important changes that are just now coming to light. Most of the changes have been both an improvement for the government, as well as for the contractor....

Attacking internet fraud.(REQUIRED READING)
June 1, 2005... The prices we pay at the grocery store are directly related to the expenses of the suppliers. Included in those expenses are the costs of fraudulent business transactions. Unfortunately, we're all victims of fraud. We all carry this burden...

The truth behind the magic: the secrets of using consumer and commercial credit information in targeting small business risk.(SELECTED TOPIC)
June 1, 2005... Accurately determining the creditworthiness of a small business can be difficult, and in years past some systems purporting to do so seemed about as reliable as a Magic 8 ball. Despite significant advances over the past five years, many...

Soothe the itch when starting from scratch: NACM can make starting a new credit department less painful for credit managers.(SELECTED TOPIC)(National Association of Credit Management)
June 1, 2005... Structuring a new credit department is no easy undertaking. A credit manager's job is already demanding and hectic by nature, but when faced with the task of creating a new credit department, a whole new score of challenges, responsibilities...

Hot spots: Russia.(INTERNATIONAL SECTION)
June 1, 2005... The tripling of oil prices since 1999 has helped Russia to build up gold and currency reserves to a formidable USD 139 billion as of March 31. This, in turn, has greatly strengthened Moscow's ability to service external debt. The so-called...

Steady economic progress in Central and Eastern Europe.(INTERNATIONAL SECTION)
June 1, 2005... In Europe, the Western European countries such as England, France and Germany have dominated the continent economically for many years. However, as some of these countries--such as Germany and France--have recently experienced a slowdown in...

UK and U.S. owners of bonds issued by German government and banks declare the start of "financial war" over unpaid bonds.(International Section)(United Kingdom)(United States)(Brief Article)
June 1, 2005... At a press conference held on May 9, 2005, Dr. Gerhard Podovsovnik of the International Association of Defaulted Bondholders (IADB) Counsel, announced that a United States, United Kingdom and French bondholder delegation will demand the...

Rating export risk.(SELECTED TOPIC)
June 1, 2005... The ability for a company to be in touch with its potential and current markets, particularly in the export arena, means that a number of important factors must be considered to succeed within those markets. One vital area of concern is export...

Two California entrepreneurs float outsourcing idea.(HEADLINE)
June 1, 2005... Roger Green and David Cook, two entrepreneurs from California, have devised a way to provide outsourced IT services offshore of the United States, but in a way that is better for its customers and the American economy. The services will be...

The graduate school of credit and financial management--Icing on the Cake.(SELECTED TOPIC)(Column)
June 1, 2005... As a credit professional I thought I had seen it all. I'd managed a large staff, analyzed financial statements, set million dollar credit lines, handled difficult collections and faced bankrupt customers. I had already completed an MBA from a...

Sweeping new law addresses payment problems in Kansas construction industry.(REQUIRED READING)
June 1, 2005... For specialty trade contractors, general contractors and at-risk construction managers that perform work in Kansas, the business environment changed quietly but dramatically on April 18, 2005. On that date, Kansas Gov. Kathleen Sebelius (D)...

NACM credit manager's index: report for April 2005.(CREDIT MANAGER'S INDEX)(Brief Article)
June 1, 2005... After a strong first quarter, NACM's CMI for April continued to show growth. The CMI rose for the third straight month to 59.3, strongly indicating a continued economic expansion, and mirroring the positive economic growth of the April 28 GDP...

Exporters must ensure coordination of Incoterms and documentary requirements for LC payment.(SELECTED TOPIC)
June 1, 2005... Substantial information on Incoterms 2000 has been published and commentated in several venues. It is interesting, and perhaps somewhat disturbing, that within this mass of commentary, little has really been done to clarify the relationship...