Business Credit articles from June 2009

Business Credit archives from June 2009

Keep trucking with humor.(member greeting)
June 1, 2009... Sometimes managing business risk isn't about buying the right amount of credit insurance, obtaining a credit report, or analyzing financial statements, but rather dealing with the totally unexpected things that happen in the course of...

Taking the fear out of financial statements.(credit column)
June 1, 2009... There's a lot to be afraid of in this economy as defaults, delinquencies and insolvencies are on the rise. Markets, both globally and domestically, continue to sputter and sink, placing greater emphasis on the ability of credit managers to...

Traveling for the company.(LIGHTER ACCOUNTS)
June 1, 2009... Many of us travel, and most of us do so by airplane. At one time I was making about 45 trips a year, and seemed to always be on my way to the airport. The following experience took place during a trip from Atlanta to Greenville, SC. I had...

Credit cards and the credit crisis.(selected topic)
June 1, 2009... The term "credit crunch" has been used generically to refer to the global banking crisis and, more specifically, to the scarcity of available credit in today's business world. It implies a lack of financing and it's true that loans and credit...

A duck day afternoon.(LIGHTER ACCOUNTS)
June 1, 2009... I had been on my new job as district credit manager with a steel service center for just a short while when Dick, the group credit manager, decided to accompany me to a credit luncheon and then follow up with a visit to a slow paying customer....

Demystifying Chapter 15 of the Bankruptcy Code.(credit column)
June 1, 2009... It has been nearly three-and-a-half years since the enactment of the cross-border provisions of Chapter 15 of the Bankruptcy Code. Since then, many Chapter 15 cases have been commenced in the United States Bankruptcy Courts. However, despite...

Thinking globally, working locally: a new era in credit insurance to manage risks in a changing economy.
June 1, 2009... [ILLUSTRATION OMITTED] The United States has quickly grown from a string of fledgling colonies trying to buck the rule of one of the world's most influential nations into a global economic, military and political powerhouse. On July 4,...

Cashing in on a pickled IOU.(LIGHTER ACCOUNTS)
June 1, 2009... While underwriting credit risk for a previous employer, one of our customers in a poor island country experienced a fire at his food production facility. As a result of this fire, production was lost for several months and the customer, who had...

I.C.E. Conference offers executive education and accommodations.(international: FCIB)
June 1, 2009... Some of the sharpest minds in the world of international credit management recently gathered at the Drake Hotel in Chicago, IL for FCIB's International Credit Executives (I.C.E.) Conference. Attendees were treated to a wealth of rich networking...

Be careful what you say.(LIGHTER ACCOUNTS)
June 1, 2009... I worked for a large firm that, many years ago, decided to sell their carpet manufacturing division. When it did so--even though I was not previously charged with that division--I inherited the balance of A/R, which was not sold as part of the...

Just when you think you've seen ... or smelled ... it all.(LIGHTER ACCOUNTS)
June 1, 2009... I have been a credit professional for over 25 years. I, like most of us, did not set out to be a credit manager, but rather was funneled into the position via accounting. In the beginning, I never expected that a career in credit management...

Dear Andy.(credit @ work)
June 1, 2009... [ILLUSTRATION OMITTED] Dear Andy, My credit department is working harder than ever but is under continually increasing pressure to meet business targets. My team members are stressed, but we're not in a position to add staff right...

A return to form: in the wake of the global financial crisis: tradition is the new innovation and credit risk management is ready for its close-up.(International feature)
June 1, 2009... [ILLUSTRATION OMITTED] If all the financial world is a stage, then it could be argued that credit controls the curtains. As a profession, credit and risk management has operated in the wings, charged with protecting a company's assets and...

Pay to play: liquidation of assets using Chapter 11 should provide unsecured creditors with a share of the proceeds.(credit column)
June 1, 2009... Most Chapter 11 cases are filed in today's economic downturn to sell assets under Section 363(b) of the Bankruptcy Code. This section allows a debtor to sell its assets to a purchaser after notice and a hearing. The purchaser is able to obtain...

Mechanic's liens and bonds--it's a simple concept: part 1.(selected topic)
June 1, 2009... It's a simple concept: the owner of a piece of real property should not be able to retain the benefits of an improvement without paying for it. Mechanic's lien laws are the result of a policy intended to protect unpaid contributors to an...

Hot spots: Kazakhstan.(international)
June 1, 2009... After spending large amounts from shrinking official foreign exchange reserves, the government decided last February to devalue the tenge. Contrary to the rumors that preceded this decision, it opted for a straight, one-shot debasement instead...

It makes cents for all of us.(NACM Scholarship Foundation Donors)
June 1, 2009... Thanks to all who have extended the possibilities to others. Your support helps keep the business credit community strong and united. * ACM Payment Processing Solutions Aero Products International Jerry Ahlrich, NACM South Central...

Credit card payments as preferences: the Sixth Circuit joins the bandwagon.(credit column)
June 1, 2009... The law never stands still. That's what's so great about it! Eighteen months ago, the courts were debating whether a debtor's use of a credit card to pay off the debtor's indebtedness to another credit card issuer or other third party is a...

FTC delays mandatory compliance with "Red Flags" rules.(EYE ON THE HILL: NACM)
June 1, 2009... After realizing a persistent haze of uncertainty still exists regarding some of the ambiguous wording in its "Red Flags" Regulations, the Federal Trade Commission (FTC) has decided to delay enforcement until August 1, 2009 and will soon release...

Managing during the credit crunch: five best practices for effective credit and collections management.(selected topic)
June 1, 2009... Companies all over the globe have been seeking alternatives to borrowing and at the same time are looking to improve their cash collection practices. While challenging, these goals can be met by leveraging best practices and automated...

The wind blew them away.(LIGHTER ACCOUNTS)
June 1, 2009... Many years ago I made a collection call to a past due account in Philadelphia on a lazy Friday afternoon. The accounts payable clerk answered the phone and I told her who I was and that I wanted to check the status of several past due invoices....

Better communication can keep productivity up during down cycles.(selected topic)
June 1, 2009... Most supervisors know that frequent dialogue with employees is a critical component of effective management, especially during periods of business uncertainty. But "knowing" something is not always the same thing as practicing it. Nearly half...

The many prongs of a working relationship.(LIGHTER ACCOUNTS)
June 1, 2009... From more than 20 years as a credit manager, I have learned that the relationships you build with your customers and accounts can be priceless and imperative in order to gain the trust and cooperation needed to produce the results required to...

NACM Credit Managers' Index: report for April 2009.(CMI)
June 1, 2009... The seasonally adjusted Credit Managers' Index (CMI) rose another 1.3% in April after rising by 2.5% in February and 0.5% in March. This marks the third month in a row for growth after six months of contraction. "There had been concern that the...