Business Credit articles from March 2005

Business Credit archives from March 2005

International financial reporting standards.(front page)(Brief Article)
March 1, 2005... Some 7,000 listed European companies are scheduled to start using a single set of international financial-reporting standards: the new IFRS rules must be adopted by year-end, including those related to hedge accounting and fair value that met...

Wal-Mart moving into banking.(front page)(Brief Article)
March 1, 2005... Wal-Mart's partnerships and in-store financial services are giving the financial services industry jitters. Despite being twice thwarted by lawmakers in its efforts to buy a bank, it has quietly but tenaciously expanded its foothold in...

Fairness in Bankruptcy Litigation Act Of 2005 introduced.(front page)(Brief Article)
March 1, 2005... On February 8, 2005, U.S. Senator John Cornyn introduced the Fairness in Bankruptcy Litigation Act of 2005. The Act protects consumers, creditors, workers, pensioners, shareholders, and small businesses, by reforming the rules governing venue...

New record set in M&A and ARM industry.(front page)(accounts receivable management)(Brief Article)
March 1, 2005... 2004 became a record-breaking year for total M&A and public market transaction value in the accounts receivable management (ARM) industry, with over $1.5 billion changing hands in 55 transactions--surpassing the previous $1.2 billion record set...

SEC establishes voluntary program for reporting financial information using XBRL.(front page)(U.S. Securities and Exchange Commission)(Brief Article)
March 1, 2005... The U.S. Securities and Exchange Commission issued a release adopting amendments to establish a voluntary program related to eXtensible Business Reporting Language (XBRL). Registrants may voluntarily furnish XBRL data in an exhibit to specified...

China arrests dozens in $900m bank fraud.(front page)(Brief Article)
March 1, 2005... Chinese authorities have arrested dozens of government officials and others accused in a scheme to steal 7.4 billion yuan ($900 million) from a state bank through fraudulent loans. The government has dismissed 80 officials accused of colluding...

March-April.(Calendar)
March 1, 2005... MARCH March 7, 2005 Nationwide Certification (CBA, CBF, CCE) Exam Test Date For more information, please contact the NACM Education Dept. at 410.740.5560. March 7, 2005 Teleconference: Standby Letters of Credit Co-hosted by NACM &...

Something to look forward to.(commentary)
March 1, 2005... Can you remember your first day of school? I'm sorry to admit that I can't remember my very first day. My daughter's--yes; my grandchildren's--most definitely. But mine? No. I can recall anxiously anticipating the start of the new school year,...

The rise of Pam Faulk-Turnbull, CCE: Pam Faulk-Turnbull never dreamed she would be working as a Credit Management Executive when she first came to the United States in 1969. When she first arrived as a British citizen, she was primarily involved in raising a family and not concerned about a professional career.(Member Profile)
March 1, 2005... However, she worked hard in subsequent years on her way up the ranks of the credit management ladder. Now an American citizen and Credit Manager of the packaging division of xpedx, a division of International Paper, a paper products distributor...

Credit risk analysis and credit scoring--now and in the future.(Cover Story)
March 1, 2005... Computers and the Internet have dramatically changed the way business is conducted, and credit departments are no exception. Credit risk analysis, through the use of credit scoring models, is becoming more automated with the use of computers...

How to prepare for any negotiation session.(selected topic)
March 1, 2005... If you think successful business professionals "wing it" when it comes to negotiation, think again. In truth, they prepare for every negotiation with the same rigor as a student preparing for an upcoming exam. Smart business professionals...

Customer scoring for collections--bringing in the cash.
March 1, 2005... Introduction Companies are always in search of ways to increase cash flow and reduce losses from bad credit decisions. Yet, they focus on improving front-end evaluation processes, losing sight of their primary profit and toss...

Preemptive collections.(in financial services)
March 1, 2005... With the sustained economic downturn of the past few years, bankcard issuers are seeing an increase in delinquent dollars coupled with a general decrease in overall collection rates. This trend makes it increasingly critical that companies take...

Creating an extraordinary organization.(Selected Topic)
March 1, 2005... Everyone wants to work in a thriving and nurturing environment, yet few organizations are successful in creating such a workplace. As a result, significant numbers of people don't like being at work. While most employees desperately want a...

A day late and hundreds of thousands of dollars short: calendar those bar date notices!(Credit Column)
March 1, 2005... For a Credit Manager attempting to force payment of a delinquent account through e-mails and past due notices, the customer's bankruptcy filing forces an end to all collection efforts. Upon the filing of a bankruptcy petition, payments to...

With checks in fast decline, banks must transform U.S. corporate payments structure.(Headline)
March 1, 2005... While paper checks are the primary method of business-to-business payments in the U.S., new research from TowerGroup argues that a "tipping point" is fast approaching. After years of anticipation of a "checkless" society, a combination of...

EU may restrict companies' freedom to restructure.(Headline)(European Union)(Brief Article)
March 1, 2005... The CBI is concerned that the EU may restrict companies' freedom to restructure insisting that it would threaten many companies' long-term viability by undermining their ability to adapt to changing conditions. The employers' organization fears...

Tame information overload: 10 ways to increase productivity with technology.(Selected Topic)
March 1, 2005... Information overload causes a lot of workplace stress--too much e-mail, voice mail, Internet connections, electronic reports, digital images, cell phones, text messages, pagers, PDA reminders, laptops, PowerPoint presentations, recorders, MP3...

NACM's Credit Manager's Index (CMI) for January 2005: economic growth continues despite slowing trend.(National Association of Credit Management)(Brief Article)
March 1, 2005... ACM's Credit Manager's Index (CMI) for January 2005 continued to show economic growth despite a decline of 230 basis points from December 2004. While there was a decline in both the manufacturing and service sectors, it was the manufacturing...

Credit cards don't always guarantee payment.(Required Reading)
March 1, 2005... Credit card sales may provide a convenient way to transact business and quickly receive the cash for goods or services. However, some credit card purchases can lead to products or services leaving your business but no cash coming in. A recent...

Credit scoring and the next step.
March 1, 2005... Introduction The use of credit scoring for evaluating credit risk is at an all-time high in American businesses. This is probably due to several factors inherent in the use of this technology. Among them, credit scoring is more efficient...

Hot spots: Slovakia.(International Section)
March 1, 2005... Prime Minister Mikulas Dzurinda's second coalition government is pushing its agenda with remarkable strength and determination, although it has only a minority position in parliament. This is even more impressive as the administration has...

Credit risk analysis--doing business with Latin American firms.(international section)
March 1, 2005... Credit managers of U.S.-based companies usually face more challenges when doing business with firms located overseas. However, while the tasks of the credit managers may be more difficult in these situations, the potential financial gains for...

The power of automated credit decision making, minus the headaches.(selected topic)
March 1, 2005... Visit the B2B credit departments of many thriving companies and you will find a picture of efficiency. Trouble is, the picture could be decades old. On the consumer side, credit managers have embraced score-based, computer-driven credit...

Be careful when taking regular checks for lien release or cash transactions: a commentary on the JWJ Contracting Co. case.(Column)
March 1, 2005... In the February 2005 edition of Business Credit, Robert Schwartz, in his article titled "Unconditional or Conditional Lien Releases: Choose Carefully Or Lose Your Lien Rights: A Case Analysis", discussed the recent Ninth Circuit Court of...

Bankruptcy reform movement advances in Congress.
March 1, 2005... On Feb. 10, both the House and the Senate took substantive, but familiar, steps in trying to move comprehensive bankruptcy reform legislation in the new, 109th Congress. In the Senate, the Senate Judiciary Committee convened the first of two...

The new (and improved) Article 2 to the UCC.(Uniform Commercial Code)
March 1, 2005... In case you have not yet heard, a new--albeit amended--Article 2 (Sales) to the Uniform Commercial Code (UCC) may be coming real soon to your state. Recently, after a lengthy process, certain amendments to Article 2 were adopted by its...

Part I: now is the time to get started with commercial credit & collections scoring.(selected topic)
March 1, 2005... This is part one of a two-part series where we examine commercial credit and collections scoring. Part one focuses on common misconceptions often heard when companies are considering scoring, white part two will discuss scoring's real-world...

State law preference actions: a thing of the past?(Credit Column)
March 1, 2005... Sherwood Partners v. Lycos, Inc. Introduction Credit grantors usually think of a preference claim as part and parcel of a debtors bankruptcy case. However, numerous states have insolvency proceedings that also permit the recovery of...

Friction in business and credit as a lubricant of commerce.(selected topic)
March 1, 2005... British-born economist Ronald H. Coase was awarded the Nobel Prize in 1991 for his work on transaction costs and functioning of the economy. Just 21 when he wrote The Problem of Social Cost, Coase's Law dealt with the proper working of...