Business Credit articles from September 2007

Business Credit archives from September 2007

October/November.(Brief article)(Calendar)
September 1, 2007... Oct 3 Teleconference: Preferences and Fraudulent Transfers: The Basics and Beyond Presenter: Robert M.D. Mercer NACM Meetings Dept. 410.740.5560 Oct 13-17 Intermediate Financial Analysis, Interpretation and Credit Risk Assessment...

Getting paid--it's a psychological thing.(collecting accounts )(Viewpoint essay)
September 1, 2007... I want my money! We all want our customers to pay us. What I have learned in the world of collecting accounts receivable, is that people have what I refer to as psychological breakpoints. ("People" includes businesses because it is ultimately...

What's keeping companies from improving their dispute resolution practices?(selected topic)
September 1, 2007... Whether a legitimate claim or not, disputes are costly in more ways than one. The costs can be viewed in terms of the quality of the relationship, the activity required to address it and the cash impact due to the delay in payment. Disputes hit...

Unauthorized deductions: a legal perspective.(HEADLINE)
September 1, 2007... Unauthorized deductions typically arise in three broad contexts: 1. Customers that take a deduction for a discount based on timely payment when in fact they are outside the allowable time period. 2. Claims that goods were defective...

The solemn duties of NACM Board members.(credit column)(National Association of Credit Management)(Column)
September 1, 2007... Whether through winning an election or appointment, attaining a position on the Board of Directors of the National Association of Credit Management is just the start of an important journey. Volunteering to serve on the NACM Board involves...

Scott Tillesen, CCE, CICP.(member profile)
September 1, 2007... The Beginning My college studies include an undergraduate degree in accounting, an MBA in finance and some additional post-graduate work in economics and international business. I applied that schooling to positions in corporate...

Don't angry ... get paid.(Cover story)
September 1, 2007... There may be times in certain people's lives where a little bit of anger can be a valuable emotion. A boxer who feels a hint of anger for his opponent may perform better than one who just wants to hug the guy in the opposite corner. A local...

Why you should participate on creditors' committees.(selected topic)
September 1, 2007... Creditors' committees occupy a position at the heart of the Chapter 11 process and play a critical role in what occurs in most Chapter 11 cases. An effective creditors' committee can often have a positive effect on the treatment that creditors...

A preference dynamic duo: state law lien rights defeat preference claim while payment by credit card does not!(credit column)
September 1, 2007... This summer has been chock full of court decisions on preferences that should interest trade creditors. The United States Bankruptcy Court for the Western District of Pennsylvania, in In re Erie Power Technologies, Inc. ("Erie Power"), recently...

Go public ... stay public? What to consider before taking the plunge or exiting the pool.(extra credit)(Interview)
September 1, 2007... It's a question that many growth companies find themselves debating again and again: Should we take the company public? Since 2002, additional layers of compliance and expenses are leading many companies to stay private and some public...

credit@work.(Letter to the editor)
September 1, 2007... Dear Andy, I'm leaving my current employer for a new opportunity. Before I go, I'm expected to participate in an exit interview. How should I prepare for this, and how forthcoming should I be? [ILLUSTRATION OMITTED] The exit...

Federal government vendors to get payments portal.(HEADLINE)
September 1, 2007... Soon vendors doing business with the federal government will have an easy and convenient online portal from which to initiate and monitor payments for their products and services. Called the Internet Payment Platform (IPP), when fully...

More leverage for suppliers, but no quick payday.(selected topic)
September 1, 2007... As most savvy collection managers know, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ("BAPCPA") granted suppliers a priority in payment for goods received by the debtor within 20 days before bankruptcy. The new statute...

NACM credit manager's index: report for July 2007.(CREDIT MANAGER'S INDEX)(National Association of Credit Management)
September 1, 2007... The seasonally adjusted Credit Manager's Index (CMI) fell 1.2% in July, the first decline in four months. While the drop-off was not dramatic, it was widespread as eight of the 10 components fell. "The housing market was once again a major drag...

Ownership changes and the customer file: close it out or cover it up?(credit column)(Column)
September 1, 2007... In the current age of mergers and acquisitions, the name of a customer's business, which at an earlier time might have been a fairly permanent indicator of the specific business entity, has become much more susceptible to change. Companies are...

Securing your workplace.(selected topic)
September 1, 2007... How can you better secure your workplace? The majority of corporate theft is internal. How does this happen? This can occur with negligent hiring processes, as well as negligent internal investigations. A lack of communication or a breakdown of...

Strategic collecting: a case study.(extra credit)(Case study)
September 1, 2007... Every credit manager knows that the function of granting credit and collecting past-due accounts does not operate in a vacuum. There is a close interrelationship and many times a conflict with the sales function. However, frequently, successful...

Congressman praises NACM's grassroots efforts.(small business corner)(National Association of Credit Management)
September 1, 2007... The efforts of NACM to repeal a 3% withholding tax on the value of most government contracts were recognized recently by Rep. Kendrick Meek (D-FL). Meek, along with Wally Herger (R-CA), sponsored H.R. 1023, the Withholding Tax Relief Act of...

Old tools, new laws.(HEADLINE)
September 1, 2007... Wanda Borges, Esq. of Borges & Associates, LLC recently offered credit professionals legal tips for mitigating the sometimes cumbersome regulations imposed by recently passed or updated laws like the Equal Credit Opportunity Act (ECOA) and the...

The firewood guy.(extra credit)
September 1, 2007... A small number of the accounts that I'm assigned to repossess deal with what are basically ordinary, decent people who've made some mistakes or had bad luck and fallen on hard times. More commonly, my company deals with what I'll call the...

Living with deductions: management and prevention.(selected topic)
September 1, 2007... Deductions are a plague for many credit departments, and it's not just for companies that sell to the major retailers. Any company that has a complex pricing structure or has problems with order fulfillment will incur numerous deductions. The...

Finding a reputable collection agency.(extra credit)
September 1, 2007... Here are some questions to ask in order to find the best, reputable collection agency to meet your needs: 1. How long has the agency been in business? Lifespan is an indication of integrity. An agency that does not collect, or worse,...

International collections: tales from the dark side of credit.
September 1, 2007... It doesn't have to be Halloween to inspire most international credit professionals to recall some of their worst collections nightmares. International collections can present even more obstacles than those encountered in collections on domestic...

Supermarket chains put pressure on suppliers despite faster payments.(HEADLINE)(Tesco and Sainsbury)
September 1, 2007... Graydon UK, one of the UK's leading credit information agencies, reveals that there is continuing frustration felt by household name food giants in the UK when dealing with the large supermarket chains like Tesco and Sainsbury's. According to...

Hot Spots: Mexico.(hot spots)
September 1, 2007... Not much time has passed since Felipe Calderon moved into the presidential residence, Los Pinos, last December, following elections which he won with only the narrowest of margins. He has already shown, however, that he, the man with a master's...

Payments in Russia: current trends and future developments.(international)(Reprint)
September 1, 2007... Today, Russia is economically and politically stable apart from the macroeconomic issue of inflation, which the government is tackling with anti-inflationary measures. The Russian ruble has strengthened against the U.S. dollar in recent years...

Good treasury management can reduce DSO.(HEADLINE)(days sales outstanding)
September 1, 2007... Credit professionals can help reduce days sales outstanding (DSO) not only by setting terms that are appropriate to the creditworthiness of customers, but also by good treasury management practices. Advice and information about the topic was...