Business Credit articles from November 2006

Business Credit archives from November 2006

FTC goes after companies failing to secure private records.(front page)(Federal Trade Commission charges against National Title Agency Inc.)(Brief article)
November 1, 2006... The Federal Trade Commission recently went after the National Title Agency, Inc., a provider of real estate services in 44 states, and the company's president and owner because the company did not provide adequate storage and disposal...

High-tech wallets thwart wireless identity theft.(Kena Kai introduced DataSafe Wallets)(Brief article)
November 1, 2006... California-based Kena Kai announced its new line of DataSafe Wallets[TM] for men and women designed to protect the new 'smart card' credit cards from wireless identity theft. The line of wallets incorporates radio-frequency (RF) shielding...

Avian flu concerns outpace preparedness.(front page)(Survey)(Brief article)
November 1, 2006... As the cold and flu season approaches and as concerns about avian flu rise, workplace preparedness is lagging behind, according to a survey from Kimberly-Clark Professional. Seventy percent of respondents said they believed avian flu was likely...

Pennsylvania lower court decision 'creating' pay-if-paid neutralized.(Brief article)
November 1, 2006... In a Sept. 12 decision in Eschbach Bros. v. Contracting Systems, Inc., a Superior Court in Pennsylvania decided not to give weight to a trial court's argument that the Pennsylvania Contractor and Subcontractor Payment Act created an inherent...

November/December.(Brief article)(Calendar)
November 1, 2006... NOVEMBER Nov 1 FCIB Book Publishers Export Credit Group Meeting Time-Life Budding New York, NY FCIB 410.423.1840 Nov 6 Nationwide Certification (CBA, CBF, CCE) Exam Test Date NACM Education Dept...

Metrics matter.(business credit executive )
November 1, 2006... If you don't measure it, you can't improve it. This old adage is certainly true for our ever-changing profession. But have your measurements kept up with the changes in your role, or the challenges faced by your business? We all track...

U.S. Department of Labor reports on credit and financial management.(Brief article)
November 1, 2006... Financial managers held about 528,000 jobs in 2004. Although they can be found in every industry, approximately 3 out of 10 are employed by finance and insurance establishments, such as banks, savings institutions, finance companies, credit...

Laurie Farvour, CBF.(Member Profile)(Interview)
November 1, 2006... Credit? I Had No Idea What That Entailed... ... until I became an accounts receivable clerk at a lumber company. The owner asked me to attend trade group meetings after the credit manager left. They decided not to replace her--and that was...

Antitrust issues explained: in NACM Teleconference.(National Association of Cedit managment)(Wanda Borges)
November 1, 2006... Those who attended an NACM teleconference on September 20 learned some valuable information on how to steer clear of possible violations of antitrust laws. The teleconference entitled, "Navigating the Antitrust Rules: Myths to Dispel and...

Lessons to be learned: auto supplier industry workouts encourage parties to communicate.(vendor relations)
November 1, 2006... Credit professionals often find that the problem their company is experiencing is just one of many that the debtor has, and may be inextricably linked to similar problems being experienced by the debtor, its lenders, its customers and other...

Due diligence, Part II.(Reprint)
November 1, 2006... Due diligence is fundamental to the survival of any corporate risk-based business operation whether it operates in one or many jurisdictions. What documentation and checks should companies have in place to make sure they perform effective due...

SEC to rebuild public disclosure system to make it 'interactive'.(Securities and Exchange Commission)(Brief article)
November 1, 2006... The U.S. Securities and Exchange Commission has awarded three separate contracts totaling 554 million to transform the agency's 1980s-vintage public company disclosure system from a form-based electronic filing cabinet to a dynamic real-time...

The Merchant Bill of Rights.
November 1, 2006... Heartland Payment Systems has recently launched a major initiative to help the owners of small- and mid-sized businesses manage the cost and complexity of credit and debit card acceptance. The centerpiece of this initiative is...

Credit departments measure up against upper management.
November 1, 2006... What impact do performance metrics in the credit department have on the overall operation and decisions of the company? The answer to that depends upon how well the credit department is integrated with the upper financial decision makers in the...

Bailment or consignment: it makes a difference!
November 1, 2006... In a tolling arrangement, a vendor usually supplies raw materials to a commodity processor for conversion into finished product. The processor then delivers the finished or partially finished product to the supplier, or the supplier's designee,...

Conference moves to enhance judges' accountability, ethical compliance.(Headline: Administrative Officers of the U.S. Courts)
November 1, 2006... The Judicial Conference of the United States approved two policies aimed at aiding and enhancing judges' compliance with established ethical obligations. The Conference voted to require all federal courts to use conflict-checking computer...

Mechanic's liens in Missouri.(CONSTRUCTION CORNER)
November 1, 2006... A mechanic's lien is an effective method of obtaining payment for work performed or supplies provided on a construction project. Essentially, the mechanic's lien forces the individual who owns the property to either pay for the work or face...

ASA to support subcontractor seeking clarification of wrap-up insurance coverage.(American Protection Insurance Co.)(Brief article)
November 1, 2006... Imagine that two subcontractors are working on a project under a single wrap-up insurance policy and that one subcontractor damages the other's equipment. Can the subcontractor with the wrecked equipment pursue a claim of damages against the...

Business etiquette: blunders quiz.
November 1, 2006... Office etiquette during the holiday season goes beyond knowing which fork to use during the company party. How you behave in the off-hours you spend with your co-workers can affect your entire year. Drinking too much can cost you a promotion or...

Six Sigma and Lean: a marriage in the making.(Headline: The Avery Point Group)
November 1, 2006... As courtships go, none has been more contested and anticipated than the evolving relationship between Six Sigma and Lean. According to a recent study by The Avery Point Group, an executive search firm specializing in Lean and Six Sigma, there...

NACM's 111th Las Vegas Credit Congress & Exposition.(National Association of Credit Management)
November 1, 2006... JUNE 10-13, 2007 BALLY'S LAS VEGAS THE PREMIER EVENT FOR BUSINESS CREDIT PROFESSIONALS The 111th annual Credit Congress & Exposition, hosted by the National Association of Credit Management, is the premier event for business credit and...

Designees.
November 1, 2006... MAY 21, 2006 CBA Rebecca Crosby Grainger South Plainfield, NJ James Dengler Cookson Electronics Assembly, Materials Altoona, PA Elizabeth Gonzalez TYCO Valves & Controls N.A. Houston, TX Robin...

Hot spots: Bolivia.(economy)(Country overview)
November 1, 2006... The regime of President Evo Morales, the man who emerged from last December's elections as the nation's first indigenous Head of State, inherited an excellent economy. Growth was at an annual clip exceeding 4%. The fiscal deficit had narrowed...

Russia: risks beyond credit.(economy)
November 1, 2006... The improving Russian economy and rising middle class offer a potentially lucrative market for U.S. exporters of certain products and services. Since the breakup of the former Soviet Union in 1991, Russia has struggled to transform its...

Credit management in France: what you should know before doing business with French companies.(INTERNATIONAL)
November 1, 2006... France's position makes it a lucrative European country in which to do business; it's surrounded by several economic and cultural borders each very different from one another. This diversity appears in several economic and intercompany credit...

Globalization's effect on interest rates subject of Dallas Fed's economic letter.(INTERNATIONAL)(Brief article)
November 1, 2006... Globalization is a major factor in the recent decline in long-term interest rates amid short-term rate increases, according to the September issue of the Federal Reserve Bank of Dallas' Economic Letter. In "Globalization's Effect on Interest...

Bad checks and bankruptcy: can your debtor discharge your "NSF" debt?
November 1, 2006... You conclude that a sole proprietor applicant is too much credit risk and you insist on a cash payment for the initial order. You authorize shipment of the goods, with your delivery driver to pick up a check from your customer. The goods are...

Royal Ahold avoids criminal prosecution.(Royal Ahold N.V.)(Brief article)
November 1, 2006... Dutch food company Royal Ahold NV will not be prosecuted for an $800 million accounting fraud that occurred at its subsidiary, Foodservice, Inc., after signing an agreement with the U.S. Attorney's office in Manhattan. The initial charges...

New research highlights growing impact of security on corporate brands and business performance.(Headline: Factiva)
November 1, 2006... Marketing executives are failing to keep pace with the financial, customer and brand implications of information security in the digital age, according to the latest findings of a major research initiative by the Chief Marketing Officer (CMO)...

Using metrics to create a Six Sigma hiring process.(SELECTED TOPIC)
November 1, 2006... If everybody does what everybody else does, it's a safe bet to predict that everybody will get average results. The key to success is to do something before everybody else does it--or do it faster, or do it better. In other words, don't follow...

'Blackberry Thumb' causing digital distress in and out of the workplace.(SELECTED TOPIC)
November 1, 2006... For millions of Americans, hand-held electronic devices such as BlackBerries, Treos, and Sidekicks are a source of convenience and efficiency. But, if used improperly, they can also be a source of chronic pain and injury. Margot Miller, PT, a...

The Great and wonderful [section] 341 hearing.(SELECTED TOPIC)
November 1, 2006... The check came from my collection agency. They had received a cashier's check the week before for $30,000. Our share, after collection commission and attorney suit fees, was $20,850. It was only 55 percent of our claim, but it was all bad...

The unfair advantage: the right talent fit--the most significant business challenge over the next 20 years.(Headline)
November 1, 2006... The most significant business challenge over the next 20 years will be recruiting, retaining and inspiring talent.--McKinsey and Company study of 77 companies and 6,600 mangers, 1998 I see them every week: talented people in the wrong jobs...

Key financial ratios for the credit department.(SELECTED TOPIC)
November 1, 2006... Financial ratio analysis is an excellent method for determining the overall financial condition of a customer's business. Financial ratios are also useful for making comparisons between a customer and other businesses in an industry. ...

F&A benchmarking.(EXTRA CREDIT)(finance and accounting)(Reprint)
November 1, 2006... A PQC research indicates that better performance is correlated with the use of certain business practices. In this article, we explore how accounting practices can be significantly improved in the areas of accounts payable, accounts receivable,...

Changes coming for exporters using letters of credit.(EXTRA CREDIT)
November 1, 2006... Exporters who utilize letters of credit (LCs) for their overseas sales should be aware of changes in the regulations that pertain to them. Those that attended a teleconference September 29, hosted by FCIB. got the opportunity to learn of some...

Managing currency risk: how do mid-size companies meet the challenge?
November 1, 2006... For companies that face significant foreign exchange exposure, establishing and maintaining an effective program to manage currency risk can be a major challenge. This article discusses how mid-size companies in the U.S. can manage their...

Treasury Secretary Paulson gets 'open dialogue' with China.(Brief article)
November 1, 2006... The United States and China announced an opening of dialogue between the two countries on a ranging number of economical issues, most notably the Yuan, China's official currency. Treasury Secretary Henry Paulson has come under enormous pressure...

Selling your ideas.(EXTRA CREDIT)
November 1, 2006... Whether we believe it or not, we are all in the sales business. Regardless of what we do for a living, in one way or another we are always selling ourselves, and our ideas, to other people. When it comes to problem solving, improving the...

NACM Credit Manager's Index: report for September 2006.(CMI)(National Association of Credit Management)
November 1, 2006... The seasonally-adjusted Credit Manager's Index (CMI) took another small step down in September. The Index fell from 57.3 to 57.1 as six of the 10 components for the combined sectors fell. "However, all 10 components still remain above 50,...

National Housewares/Consumer Products Credit Group celebrates 50 years.(member news)(Brief article)
November 1, 2006... On August 17, 2006, the National Housewares/Consumer Products Credit Group marked a milestone 50th Anniversary. This achievement was celebrated at their two-day meeting at the Hilton Suites in Chicago, IL by members in attendance, President...

Distinguished member award.(CFDD PORTLAND)
November 1, 2006... The 2006 winner of the CFDD Portland Chapter Distinguished Member Award is Jessica Langford, a long-time dedicated member of CFDD.

Certifications.(NACM-SEATTLE)(Certified Credit Executive Exam Certification)(Brief article)
November 1, 2006... Maryallene Otis of Nucor Steel Seattle, Inc. passed the Certified Credit Executive (CCE) exam on July 24, 2006. Congratulations Maryallene! Congratulations also to the following members who passed the Credit Business Associate (CBA) exam...

PNWCC scholarship winners.(Pacific Northwest Credit Conference)(Claudia Kuniholm)(Debbie LeBlanc)(Susan Rasmussen)(Ruthanne Shay)(Awards list)
November 1, 2006... We'd also like to congratulate the following members who received $275 scholarships to September's Pacific Northwest Credit Conference: Claudia Kuniholm, CBF Debbie LeBlanc Susan Rasmussen Ruthanne Shay, CCE

PNWCC scholarship recipients.(Pacific Northwest Credit Conference )(Brief article)
November 1, 2006... The following individuals were recipients of scholarships for the Pacific Northwest Credit Conference awarded by the NACM-Oregon Foundation: Carlene Keller, Lamar Obie Corp. Lori Kimball, CBA, NORPAC Foods, Inc. Gina McKenzie, Air...