Business Credit articles from October 2006

Business Credit archives from October 2006

Business.Gov to re-launch October 2.(website for regulatory compliance of small business)(Brief article)
October 1, 2006... For the first time, small business owners can go to one website to find federal compliance information. Business.gov, the official business link to the U.S. government, is re-launching on October 2nd to focus on compliance information, federal...

India becomes an international player.(growth in automobile sector)(Brief article)
October 1, 2006... The growing confidence of the Indian auto industry is expected to result in an acceleration of the internationalization of the Indian auto industry in 2006. Supplier executives surveyed by SupplierBusiness at the end of 2005 identified India as...

Research highlights risks when using spreadsheets for financial reporting.(front page)(Brief article)
October 1, 2006... Spreadsheets and Sarbanes-Oxley: Regulations, Risks, and Control Frameworks, a research paper developed by Dr. Raymond R. Panko, a professor of IT management in the College of Business Administration at the University of Hawaii, details the...

Some Day Soon, $3 gas may be recalled as a bargain.(consumption of petroleum)(Brief article)
October 1, 2006... According to economist Ken Mayland of ClearView Economics, LLC, the U.S. yearly per capita consumption of oil is 27 barrels, Korea and Japan are at 17 barrels per capita, and China's population consumes about 1.7 barrels per capita. The U.S....

Best in class measure more often.(lean manufacturing)(Brief article)
October 1, 2006... Manufacturing performance correlates directly with frequency of measurement, according to recent research. The Manufacturing Performance Management Benchmark Report, published by Aberdeen Group, found that 84 percent of respondents were still...

Lengthening DSO in UK.(front page)(Brief article)
October 1, 2006... Coface UK urged British businesses to improve their credit management procedures in the face of lengthening credit periods, following a web poll by the Better Payment Practice Group which found that three-quarters of UK companies believe DSO is...

October/November.
October 1, 2006... OCTOBER Oct 4 Teleconference: Letters of Credit Presenter: Madeline Sprague CCE NACM Meetings Dept 410.740.5560 Oct 4-6 NACM Western Region Conference Monte Carlo Resort and Casino, Las Vegas, NV Jodi Owens 510.346.6000 Oct 4-6...

So ... how are your investments performing?(commentary)
October 1, 2006... NOT YOUR FINANCIAL INVESTMENTS (ALTHOUGH financial rewards are always a benefit of investing), I am speaking of your biggest investment--the investment in yourself. Assisting you in Investing in Yourself is what NACM's Credit and Financial...

Fundamentals of due diligence: a critical business tool (Part One).(EXTRA CREDIT)
October 1, 2006... Due diligence is fundamental to the survival of any corporate risk-based business operation, whether it operates in one or many jurisdictions. In fact, due diligence is essential for financial institutions that want to prevent or minimize...

FBI convicts several involved in bust-out scheme.(Federal Bureau of Investigation)
October 1, 2006... When reading news from NACM's Asset Protection Group (APG), you may come across the term 'bust-out scheme'. What is a bust-out scheme? In this type of fraud, new ownership of a company is established; the new owners abuse the identity and...

Mike Meyer, CCE.(Certification and Continuing Education )
October 1, 2006... Not In My Original Plan... Like most credit people, working in credit was not my original plan. However, my career was not thrust upon me--I applied for the position of Credit Manager. I graduated from college with a BS in Accounting in...

Workplace worries: blogging, IMing, iPods and camera phones--oh my!(SELECTED TOPIC)
October 1, 2006... There is no doubt that new technological means of communicating and entertaining are invading the workplace. The question thus arises as to any steps that should be taken by employers to grapple with and potentially control blogging, instant...

Man-in-the-middle phishing attack successful against Citibank's two-factor token authentication.(Citibank N.A. (New York, New York))
October 1, 2006... On July 10, 2006, the first reports of a man-in-the-middle phishing 2.0 attack against CitiBank's CitiBusiness[SM] service were reported by The Washington Post. The phishing scam, originating in Russia, shows that cyber criminals are...

Mechanic's liens in California.(CALIFORNIA REPUBLIC)
October 1, 2006... In many ways the construction industry is special, but in the ways of mechanic's liens the construction industry is actually unique. In no other industry does a merchant have the ability to impose a debt on a stranger. Only in the construction...

Your trusted partner in handling: problem receivables.(Headline)
October 1, 2006... A recent survey of 13 NACM Affiliates across the U.S. revealed that they collected over $25 million in outstanding overdue bills for their members in 2005. Members of NACM's Asset Management Service Committee conducted the survey. Dean...

From cyberspace to retail space: entrepreneurs are succeeding by turning a traditional business model on its head.(Small Business Corner)
October 1, 2006... Starting a new retail company is a risky business, and only a handful of ventures ever make it to the top. These days with the increasing popularity of doing virtually everything on the web--including shopping--the Internet has created an...

What's ahead in business credit technology?
October 1, 2006... TECHNOLOGY HAS IMPROVED AT AN ACCELERATED rate for the last 20 years. But what do these advances mean for credit professionals in the near future? Business credit professionals have not only benefited from advances in computer hardware and...

Forming your LLC in Nevada: does it really work?(Headline)
October 1, 2006... If you've done a lot of web research about setting up a limited liability company, or LLC, you've seen the advertisements that tout Nevada. The pitch is pretty simple. Because Nevada doesn't levy an income tax on individuals or corporations,...

Top 7 tactics to help professionals succeed amid a politically charged company culture.(EXTRA CREDIT)
October 1, 2006... With Primary Elections now underway in many states throughout the U.S., politics are top of mind for Americans from coast to coast. However, beyond Senate and Gubernatorial implications, aspiring professionals should also spend time considering...

Tools of a skip tracer.(SELECTED TOPIC)
October 1, 2006... Would you go to a dentist if the only tools used on patients were a chainsaw and a chisel? Would you take your car to be serviced by a mechanic whose only tools were a chocolate bar and hairspray? Would you want your child to go to an...

The BAPCPA ordinary course of business defense to preference claims: at last, a court speaks.(Bankruptcy Abuse Prevention and Consumer Protection Act of 2005)(Column)
October 1, 2006... The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), applicable to bankruptcy cases filed on and after October 17, 2005, has made it easier for trade creditors to satisfy the ordinary course of business defense to...

U.S. consumers lose more than $8 billion to online threats.(SELECTED TOPICS)
October 1, 2006... The risks associated with using the Internet remain high, according to Consumer Reports latest 'State of the Net" survey. Consumer Reports projects that U.S. consumers lost more than $8 billion over the last two years to viruses, spyware and...

NACM teleconference explains basic SOX facts.(National Association of Credit Management)(Sarbanes-Oxley Act of 2002)
October 1, 2006... Credit professionals are among the group of officials in public corporations that need to know about the auditing and internal control requirements imposed by the Sarbanes-Oxley Act of 2002, also called SOX. Those credit professionals who...

In rush to protect computer files, old-fashioned file cabinets are an open invitation to data thieves.(Headline)
October 1, 2006... The common notion is that identity theft is a crime committed by computer hackers who steal information via the Internet. The reality is that a lot of information is stolen from unsecured fries and paperwork. The source of the crime is often...

Supply chains flow to credit departments.(INTERNATIONAL)
October 1, 2006... One of the ramifications of the global marketplace is the fact that supply chains are becoming longer and more complicated, and sometimes traverse unstable and dangerous areas beset by military conflict, civil unrest or natural disasters....

Advice offered on doing business in China.(Finance Credit & International Business's Julian Chen speaks at the teleconference)
October 1, 2006... Participants in an FCIB (Finance Credit & International Business) teleconference August 24, got an opportunity to learn important tips and facts about doing business in China. Julian Chen, COO, FCIB China, was the presenter. He has considerable...

Hot spots: Bulgaria.(member of European Union)
October 1, 2006... Last May, officials in Brussels warned Sofia that there were six problem areas where Bulgaria would have to hasten reforms if the nation expected to be given the green light for joining the Union, tentatively scheduled for next year. The EU...

Financial institutions see growth in Latin America, as region works to build sustained economic momentum.(Headline)(Brief article)
October 1, 2006... Although growing economic stability and strong international demand have helped drive recent growth and trade surplus in Latin America, many Latin American countries still face the nagging challenges of translating economic momentum to...

European commission wants lower prices for credit cards.(Headline)
October 1, 2006... In June 2005, the European Commission decided to launch a sector inquiry into retail banking and business insurance to assess whether there is enough competition in these markets to deliver full benefits to consumers and small- and mediumsized...

NACM credit manager's index report for August 2006.(National Association of Credit Management)(Brief article)
October 1, 2006... The seasonally adjusted Combined Credit Manager's Index (CMI) fell in August from 57.6 to 57.3. The index continued to indicate an economy with good momentum, but it also revealed some pockets of weakness. While the manufacturing, services and...

Cash flow woes of 2006: beating the ups and downs of business.(Headline)
October 1, 2006... With more than half of the year 2006 gone, businesses must re-evaluate their cash flow strengths and weaknesses. Most businesses will either gain or lose profits during the final months of the year, so preparation is a must either way. ...

How to use data to your business advantage.(SELECTED TOPIC)
October 1, 2006... The retention of data has become one of the most pressing issues facing businesses today. From Sarbanes-Oxley (SOX) to Basel II, new laws and regulations introduced by governments and international bodies are forcing companies to address the...

Surveying the gap: nearly half of all leaders see a disconnect between strategy and execution: you know you have a great vision for your company, so why can't you seem to bring it to fruition?(SELECTED TOPIC)
October 1, 2006... As a leader, you have a clear vision for your company and are 100 percent committed to pursuing it. But something is going wrong between the creation of that vision and your company's ability to make it happen. What that something might be is...

It's not about time.(work life balance)
October 1, 2006... With mounting to-do lists, big projects with short delivery dates, consuming workloads, growing obligations and festering unfinished tasks, it's no wonder in this what-have-you-done-for-me-today world we often feel time deprived. Work-life...

Credit at work.(Letter to the editor)
October 1, 2006... Dear Andy, There are several individuals in my department in key roles who are nearing retirement and I am concerned about losing their knowledge and expertise--what can I do? You're not alone with this concern. The oldest of 77...

Never let your boss be surprised by bad news.(SELECTED TOPIC)
October 1, 2006... There only one thing worse is than delivering bad news to your boss. That is--not raising the red flag when you know trouble is brewing, because it is a cardinal sin to let your boss be surprised. No organization escapes the negatives...

NACM discussion and position brief on federal legislative issues 2006.
October 1, 2006... THE FINANCIAL PANIC OF 1893 STUNNED BUSINESS with its disastrous depression and subsequent severe deflation. The chemistry of credit was not understood and commercial failures reached record numbers. So serious was the problem that a "Congress...

Key House member joins campaign to repeal withholding tax.(EXTRA CREDIT)
October 1, 2006... NACM has learned some good news regarding its campaign to repeal a recently enacted 3 percent withholding tax on the value of most federal and state contracts as well as those with larger local political subdivisions. U.S. Rep. Wally Herger,...

High energy prices, combined with weak housing and job markets, could foretell difficult holiday season.(Headline)
October 1, 2006... The Deloitte Research Leading Index of Consumer Spending continued its decline this month, projecting a difficult holiday season for retailers due to high energy costs, a weaker job market, and continued softness in the housing market. ...

Unclaimed property and credit professionals: an NACM teleconference.(Headline)
October 1, 2006... Unclaimed property is something that most credit professionals should account for and properly report. Fortunately, the important facts related to it were explained in an NACM teleconference August 21, entitled, "Unclaimed Property--What Every...

WRCC scholarship winners.(Credit Managers Association awarded scholarships to Candice Bimemiller, Jacqueline Lopez and Deanna Marcroft)(Brief article)
October 1, 2006... A CMA Business Credit Services committee of past recipients of the Credit Executive of the Year award held a meeting to award Credit Executive Educational Foundation (CEEF) scholarships to this year's Western Region Credit Congress (WRCC). The...

NACM Business Credit Services.(congratulated Claudia Kunihohn, Debbie LeBlanc and Susan Rasmussen for receiving scholarships)(Brief article)
October 1, 2006... NACM Business Credit Services Seattle would like to congratulate the following members, who each received a $275 scholarship to September's Pacific Northwest Credit Conference: Claudia Kunihohn, CBF--AMEC Earth & Environmental, Inc. ...