Business Credit articles from May 2004

Business Credit archives from May 2004

The answers you need--now!(the scoop)(Brief Article)
May 1, 2004... Just a click away... search multiple resources; get real-time results. While there may be times you want a reference book at hand, the luxury of using a simple search function to immediately bring up relevant information is most credit...

Your garden-variety business scam.(the scoop)(financial fraud)(Brief Article)
May 1, 2004... While spectacular corporate fraud producing the bankruptcies of companies like Enron and WorldCom have grabbed headlines, a garden-variety business scam, the "bust-out," has been wreaking havoc for years at businesses without the resources--or...

Top five reasons women change jobs.(the scoop)(Brief Article)
May 1, 2004... A recent survey conducted by CareerWomen.com listed the top five reasons women are changing jobs. Along with family obligations, women also move on to new positions to expand opportunities, create higher earning potential, relocate or because...

Department of Defense's External Certification Authority (ECA) program.(the scoop)(Brief Article)
May 1, 2004... The U.S. Department of Defense is in the process of reviewing implementation of certification for vendors who use the DoD's automated systems. At this time, the rule is only under review. If you have received a letter or e-mail stating that...

NACM calendar.(Calendar)
May 1, 2004... MAY May 3 NACM Online Accounting Course Begins For more information, please contact the NACM Education Department. May 3 NACM Online Credit Law Course Begins For more information, please contact the NACM Education Department....

Working together works.(Credit Column)
May 1, 2004... As my year as Chairman begins to draw to a close, I can't help but reflect back on the personal and professional choice that I made to become an active volunteer in the NACM organization. As I look back on my choice to get involved, I can tell...

Can sanctions be imposed for improperly prosecuted preference action?(Credit Column)
May 1, 2004... Introduction Preference lawsuits are a constant source of anguish in the credit community. But there is nothing more gratifying than winning a preference lawsuit and depriving a bankruptcy trustee or debtor-in-possession of any recovery on...

ASA and ASA of Arizona say Arizona courts must follow ban of pay-if-paid.(Lien Law Update)(American Subcontractors Association)
May 1, 2004... The American Subcontractors Association (ASA) and its state chapter in Arizona, ASA of Arizona (ASAAZ), are defending the rights established by the Arizona Legislature for construction subcontractors to be paid promptly and in full for work...

An end to complacency: the 7th Circuit rules against critical vendor payments.).(An end to complacency: the 7th Circuit rules against critical vendor payments.)
May 1, 2004... The comfort level that credit executives have reached in the last several years regarding "critical vendor" treatment has come to an end. This is the first time this issue has reached the Circuit Court level, and this is the first case of such...

U.S. sellers getting more for their companies.(Communique)(Brief Article)
May 1, 2004... After more than two years of depressed selling prices, sellers in 2003 of U.S. manufacturing companies with annual revenues between $10 and $50 million averaged 22 percent more for their companies than those who sold during 2002. The data is...

Experian outperforms other commercial data providers in heat-to-head test conducted by eFinance Corporation.
May 1, 2004... Client With headquarters in San Francisco, Calif., eFinance Corporation (www.efinance.com) is a privately held company led by seasoned professionals with extensive experience in credit, financing, risk management and technology. Founded in...

Furthering insolvency: how did we get here from there?
May 1, 2004... What was Enron's Board thinking? Where were the Tyco Directors while Dennis went shopping? Had MCI's Directors been invited to Scott's new Florida mansion? This stuff makes the headlines, but all across the country, decisions are made by...

So you're on a creditors' committee ... now what?(Debtor and creditor)
May 1, 2004... It can be a customer. Perhaps it is the purchaser of your business or the issuer of a bond that your firm holds in quantity. Whatever the circumstances, a company that owes you (and plenty of others!) money has filed for bankruptcy. Your name...

Equal Credit Opportunity Act (ECOA) update.(Special Legislative Update)
May 1, 2004... The Federal Reserve Board (FRB), has finally published its new rules amending Regulation B of the ECOA. These new rules are consistent with the FRB's policy of periodically reviewing and updating its regulations. While these new regulations...

No mistakes please! When your customer files bankruptcy, take action.(Credit Column)
May 1, 2004... Economists are restating their forecasts and predicting that the economy may continue through difficult financial times, which means the credit professional may be juggling more delinquent accounts and, ultimately, more bankruptcies. News of a...

Glossary of bankruptcy terms.(Selected Topics)(Glossary)
May 1, 2004... As you work with bankrupt accounts, you may come across a umber of terms that may be unfamiliar to you. Below is a list of some of the more important terms that you will need to know to properly manage customers that have filed for bankruptcy...

Overview of Canadian bankruptcy law.(International Section)
May 1, 2004... INTRODUCTION A "crash course" in Canadian bankruptcy law was probably not considered necessary for many American credit executives a decade ago. With the passage of time, however, as our economies steadily integrate, insolvency proceedings...

Get the facts about industry credit groups: the National Association of Credit Management saves companies from costly fiction.(Selected Topic)
May 1, 2004... Every day of the week, credit managers make tough decisions about the creditworthiness of potential customers. Because businesses risk billions of dollars annually by extending credit, it's imperative that these decisions are made wisely. For...

Trade finance innovations in global banking.(International Section)
May 1, 2004... Global trade is expanding rapidly again after two years of slow growth, but economic and market volatility remains high. Global banks are stepping up to the plate with new trade finance services and products designed to facilitate payments and...

Worldwide credit conditions: at a glance: May.(Illustration)
May 1, 2004... ECONOMIC GROWTH GDP % change from previous quarter Q 1 03 Q 2 03 Q 3 03 Q 4 03 U.S. 0.4 0.8 2.0 1.0 Canada 0.6 -0.1 0.3 0.4 Mexico -0.5 0.2 0.4...

Hot spots: Italy.(International Section)
May 1, 2004... The Center-Right government of Prime Minister Silvio Berlusconi must have been at least somewhat unsettled by the way in which the Socialists in Spain recently managed to boot out the incumbent. Partido Popular. It has seen its own popularity...

Designees.(National Association of Credit Management )
May 1, 2004... The National Accreditation Committee and the NACM-National Education Department are pleased to announce the Credit Business Associates[SM] (CBA[SM]), Credit Business Fellows[SM] (CBF[SM]) and Certified Credit Executives[R] (CCE[R]) who...

To serve or not to serve? That is a question worth thinking about.(Selected Topic)(Bankruptcy)
May 1, 2004... The consequence of a Chapter 11 bankruptcy filing does not necessarily tie the hands of creditors, forcing them to stand on the side lines, waiting and hoping for something to happen. Instead, creditors may wish to be more proactive and perhaps...

Five steps to political savvy.(Communique)(Brief Article)
May 1, 2004... 1. Extend Your Radar Make sure you know all the key players who might influence your organization, even if you don't think they should! Pay attention to the connections they have with each other. 2. Note Who Has the Power Learn which key...

Businesses beware: copyright infringement on your Intranet can be costly.(Credit Column)
May 1, 2004... Employers have reasons well beyond inflammatory content to keep labs on e-mail messages. Many businesses have already learned that with access to the Internet, employees may inadvertently or intentionally divulge proprietary data. Some have...

The 2004 honors and awards program.(National Association of Credit Management awards)
May 1, 2004... NACM on behalf of the National Honors and Awards Committee, is proud to acknowledge the following individuals for their continuing dedication and contributions to the field of business credit management and this Association, National...

The Alice M.H. McGregor: award of exceptional achievement.
May 1, 2004... This distinguished award recognizes creative approaches and consistently high performance benefitting an organization and the business credit profession. The award is named in honor of the late Alice McGregor, CCE, the 1989-90 NACM-National...

Sudden increase in need for product.(Selected Topic)(Credit bureaus)
May 1, 2004... It certainly is normal and desirable for a customer to grow and increase its need for product. What is out of the ordinary is when an account, for no apparent reason, suddenly increases the amount of goods it is ordering. An unexplained jump in...

Six steps to a sizzling meeting.(Selected Topic)
May 1, 2004... You have been trapped in too many boring meetings. They don't start on time, the leader drags the meeting out, and you leave wondering what was accomplished. Now--you are in charge, and you vow this will not be one of those meetings!...

Involuntary bankruptcy: the last word on when the dispute is bona fide!(Selected Topic)
May 1, 2004... Introduction The filing of an involuntary bankruptcy petition is among the most powerful weapons in the creditor's arsenal to halt the recalcitrant debtor who will not--or cannot--make payment on account of outstanding invoices or...

Lien protection under attack! Subcontractors and suppliers fight back.(Lien Law Update)
May 1, 2004... Construction subcontractors and suppliers, beware! The Rhode Island Supreme Court is expected to hand down a decision in the next year that could set the legal stage for nullifying the existing liens of subcontractors and suppliers in 48...