Business Credit articles from June 2008

Business Credit archives from June 2008

Managing the shifting balance and the opportunities that can be yours.(commentary)(Column)
June 1, 2008... The constant state of flux in the world's economy and the "hot" regions for services and manufacturing will always provide an exciting learning experience for the international credit professional should they be willing to keep up. Currently,...

A persistent myth: are small private companies really riskier than large public firms?(selected topic)
June 1, 2008... Are Big Customers a Less Risky Bet? No! It's often fun to challenge our preconceived notions, isn't it? For example, we all know that small private companies are much more likely to fail than the big famous firms of the Fortune 1000,...

Leveraging Uncle Sam: getting the threat of the IRS behind your collection effort.(credit column)(United States. Internal Revenue Service)(Column)
June 1, 2008... In the quest for successful collection efforts, credit professionals must strike a balance between being likeable and being firm. The old, widely relied-on adage that "people pay who they like" is certainly true, but after collection letters go...

Once a collection goes "legal": a short series for creditors.(Reprint)
June 1, 2008... Many collection or credit managers spend a great deal of time preventing collection problems, whether in the granting process or the in-house collection phase. More experienced personnel understand what happens when an account can't be...

Are we having fun yet?(extra credit)
June 1, 2008... It feels like we are all in a video game, the type where you keep running and the bombs are dropping all around you. Your job is to avoid the explosions, but occasionally you get hit. Your only comfort is in knowing that a competitor got hit...

Attack of the doppelgangers.
June 1, 2008... [ILLUSTRATION OMITTED] Anyone who has an email account is no stranger to phishing, spoofing and pharming scares. Both personal and business emails are bombarded with spam trying to sell everything from enhancements, to discount Viagra,...

Credit @ work.
June 1, 2008... Dear Andy, In recent months, my department has become busier and busier, and we rely on our top performers more than we ever did before. I know they have other attractive opportunities in our area and I am concerned about losing them to a...

Out-of-court liquidations pose questions for credit professionals.(credit column)
June 1, 2008... As the U.S. economy slips into or sits in a recession, numerous companies will be seeking liquidation or reorganization. (1) Credit professionals familiar with receiving notice of Chapter 7 and 11 cases may be uncertain as to what action should...

Managing risks on credit sales into Mexico.(international)
June 1, 2008... To Sell or Not to Sell, That Is the Question. As competition grows, new markets in other countries become an option impossible to overlook. The challenge is not only selling to those markets, but selling on open account terms, as most...

FCIB and the U.S. Department of Commerce release updated Trade Finance Guide: improved, user-friendly tool provides essentials to finance export opportunities.(TRADELINE)(FirstCaribbean International Bank)(United States. Department of Commerce)
June 1, 2008... FCIB and the Manufacturing and Services unit of the U.S. Department of Commerce's International Trade Administration (ITA) have published an updated version of the Trade Finance Guide: A Quick Reference for U.S. Exporters. This concise and...

Meet Ron Wells, CCE.(member PROFILE)(Certified Credit Executive)
June 1, 2008... Among the many hats Ron Wells currently wears, the one of webmaster is likely the most unique. After all, not many business professionals with Wells' longevity, depth of experience and related accomplishments--he is the first...

Mechanic's liens and the bankruptcy code: meandering through the minefieids of the recent cook case.(credit column)
June 1, 2008... A mechanic's or materialman's lien is a state law lien granted to secure payment of the claims of creditors that supply goods and/or labor for the improvement of real property. While all states have mechanic's lien laws, they differ in the...

Hot spots: Venezuela.(international)
June 1, 2008... President Hugo Chavez faces regional elections in November in which 24 governoships across the nation will be at stake. He was taken by surprise last December when the voters rejected his proposed constitutional reform, which would have allowed...

Electronic invoice presentment and payments: automating the billing and receipts process.(selected topic)(Survey)
June 1, 2008... What is EIPP/EBPP? EIPP/EBPP is the sending and receiving of digital invoices and payments. The acronyms stand for Electronic Invoice Presentment and Payment and Electronic Bill Presentment and Payment. Typically EIPP refers to commercial...

Veterans Affairs transitions to e-invoicing.(extra credit)(electronic)
June 1, 2008... Following its July 2007 initiative to eliminate paper invoices, the U.S. Department of Veterans Affairs (VA) is now making the transition to electronic invoicing, contracting with A&T Systems and OB10 to enable that transition. OB10 operates...

The recession conundrum: how to tighten credit practices and still increase sales.(selected topic)
June 1, 2008... When the economy gets tough, credit practices tend to tighten up. However, sales, wanting to keep the revenue stream going, often wants to loosen up the terms so that they can sell more. On one hand, you need to make sure that you are...

Do you believe in magic? What technology can and can't do for international credit and risk management.(international feature)
June 1, 2008... [ILLUSTRATION OMITTED] It's common for companies to advertise their product by giving it magic powers or making it operate on a frame of other-worldly principles in television or radio ad spots. A viewer who turns on the tube at any point...

U.S. leaps over Europe as a cost-effective business cost location, says KPMG report.(HEADLINE)
June 1, 2008... All of the developed countries have lost ground relative to the United States in terms of business operating costs, due to the dramatic weakening of the U.S. dollar. However, it is the Netherlands, Italy, Germany and the United Kingdom that...

Tactical filters for today's higher risk environment.(selected topic)
June 1, 2008... We now recognize that poor risk underwriting in the subprime mortgage market has had a catastrophic impact on that segment. Similar problems have surfaced in the credit card and leveraged debt markets and will certainly affect all segments of...

FCIB's I.C.E. conference zeros in on the hot topics.(credit column)(International Credit Executives)(Conference news)
June 1, 2008... With the dollar continuing its devaluation, the boom in international business and exporting has maintained its record-breaking pace. Last year, U.S. exports increased 12.3% to a record level $1.48 trillion. There appears to be no slowdown and...

Credit Congress 1938 San Francisco, CA.(past accounts)(California, United States)(Brief article)
June 1, 2008... [ILLUSTRATION OMITTED] Eighty years ago, credit men were talking about the current recession and potential inflation, and NACM was working to repeal the undistributed profits tax. Topics covered at this Credit Congress included the...

Globalization is expected to increase despite economic conditions: new neoIT and Goldman Sachs research highlights executive perspectives toward globalization.(HEADLINE)
June 1, 2008... Corporate investment for both information technology and business process services is expected to continue across nearly all market segments and economic conditions. Executives indicated that the reallocation of internal spending toward global...

Georgia lien law: an overview.(selected topic)
June 1, 2008... Claim of Lien is an encumbrance against real property created by state law for the purpose of securing payment for labor, materials or services expended to improve that property. Because owners are reluctant to pay for construction work in...

Have you received a preference claim for less than $5,000 since the passage of the BAPCPA in 2005?(TRADELINE)(Bankruptcy Abuse Prevention and Consumer Protection Act)(Survey)
June 1, 2008... he results of this first NACM monthly survey question illustrated that preference claims for under $5,000, forbidden by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), have all but vanished since the law's...

Changes to Canada's Bankruptcy and Insolvency Act: consumer proposals just got a big boost.(international)
June 1, 2008... The current law in Canada in relation to consumer (debtor) proposals is found in section 66.11 of the Bankruptcy & Insolvency Act (BIA). If a consumer's debt was under $75,000 (excluding mortgage) a proposal could be made to the creditors and...

Recession Rx for business: eleven ways to infuse your company with the leadership skills to thrive in tough times.(extra credit)
June 1, 2008... In good times, running a company is exhilarating. Money is flowing, customers are happy, employees have a spring in their step. in not-so-good times--like now--the very same job can feel like scaling Mt. Everest in a snowstorm while wearing a...

Challenge and payment bonds.(TRADELINE)
June 1, 2008... The boom days have subsided. The construction sector is facing dark times with the downturn in both the residential and commercial real estate markets. For credit managers operating in the industry, securing payment is becoming a parainount...

NACM Credit Manager's index: report for April 2008.(National Association of Credit Management)
June 1, 2008... The seasonally adjusted combined Credit Manager's index rose slightly to 50.1, barely above the critical 50 level indicating economic expansion. The increase of 0.2% was a result of the manufacturing sector falling 0.8% while the service sector...