Business Credit articles from September 2008

Business Credit archives from September 2008

Subprime mortgages vs. your receivables.(commentary)
September 1, 2008... We have all read about the fallout in the subprime mortgage area. But it really isn't just "subprime" mortgages that present a problem. We have the ARM loans and interest only loans that are falling into the problem category. The common...

Collecting is selling.(selected topic)
September 1, 2008... When I introduced my collections skills seminars to American audiences in 1987, I had no idea they would still be so relevant and popular 20 years later. When it comes to parting with money, human nature never changes and the skills required to...

NACM survey shows proprietary scoring inappropriate, impractical for many respondents.(TRADELINE)(national association of credit management)
September 1, 2008... NACM's July Survey question, "Do you use a proprietary credit scoring system in your day-to-day evaluation of accounts?" showed that a majority of respondents do not use a proprietary system, with 67.8% of participants responding "no" and a...

Collecting from debtors in Asia.(international)
September 1, 2008... According to the U.S. Department of Commerce's International Trade Administration, of the top 30 countries for U.S. exports, 10 were from East Asia. In 2007, these countries bought $285 billion in U.S. exports, a 39% increase from 2002. As more...

The darkness on the edge of town.(credit column)
September 1, 2008... There's no skirting around the issue: the construction industry is battling through some lean times. Compared to the boom seen in the real estate markets a few years ago, the current climate is nearing depressing. Foreclosures are rampant, new...

Come together: collaboration is key to solving your company's deduction problems.
September 1, 2008... The word "silo" is used frequently to describe a single department that handles a specific portion of a company's operations. The sales department has their own silo, as does credit, as does logistics and so on and so forth. The term itself...

Congratulations to our newest CCE Designees June 21, 2008.
September 1, 2008... Richard Callahan Garelick Farms, Inc. Franklin, MA Steven Cassel Gerdau Ameristeel US Inc. York, PA Glenn Clark Newell Rubbermaid Shared Services Europe BV Goirle, Netherlands Edward Clear ...

Hot spots: Pakistan.(international)
September 1, 2008... The crisis of confidence that has hit the Karachi stock market is indicative of a general collapse of trust in the civilian government that the country elected only a few months ago to replace the military regime of Gen. Pervez Musharraf....

Communicating through conflict.(extra credit)
September 1, 2008... We can't banish conflict from our lives, but we can communicate more effectively through it. It's a topic that can fill volumes, but you can get a handle on it by using these five tips: 1. Distinguish Between True and False Conflicts ...

New CAEs among us.(association news)
September 1, 2008... [ILLUSTRATIONS OMITTED] Congratulations to the new CAEs on the completion of their new designation. Aneta Spilman, CAE President of FCIB Columbia, MD Mike Mitchell, CAE President and CEO of CMA San Diego, CA

NACM Southwest celebrates 100 years, donates to scholarship foundation.(association news)(Brief article)
September 1, 2008... NACM Southwest presented NACM President Robin Schauseil, CAE with a $10,000 check for the NACM Scholarship Foundation during their 100th Anniversary celebration! The Southwest Board wanted to share some of their success with the NACM...

Business Credit Management Awareness and Appreciation Month.(association news)(Brief article)
September 1, 2008... Recently, Governor Janet Napolitano of Arizona proclaimed April 2008 as Business Credit Management Awareness and Appreciation Month! NACM of Arizona/Southwest Business Credit Services President Rich Adams, CAE, CCE accepted the proclamation...

Once a collection goes "legal": a short series for creditors.
September 1, 2008... Many collection or credit managers spend a great deal of time preventing collection problems, whether in the granting process or the in-house collection phase. More experienced personnel understand what happens when an account can't be...

Past accounts.(Brief article)
September 1, 2008... [ILLUSTRATION OMITTED] Business can be likened to a stream. Anything which obstructs its steady flow injures all and tends to bring about contraction. An uncollected, past-due account is a boulder in the stream of business which deflects...

Where the rubber meets the road: the steps of a good collection negotiation.(selected topic)
September 1, 2008... You're monitoring one of your collectors and what you're hearing turns your stomach. There may have been some money here at the start of the call, but not now. Now your employee's approaching outright hostility and you're only seconds away from...

The basics from the master.(TRADELINE)(Brief article)
September 1, 2008... "Getting paid" starts with laying a strong foundation of knowledge, the principles of credit. That's exactly what the most recent attendees of Business Credit Principles learned to do. Held at NACM-National Headquarters from August 4-8,...

Advanced issues in financial statement analysis.(TRADELINE)
September 1, 2008... While legislation in the wake of high-profile fraud cases has reduced the occurrence of financial fraud, many companies still use what are called "creative accounting techniques" to improve their appearance and more easily secure financing,...

Taking a step forward with year one.
September 1, 2008... The economic situation in the United States has yet to brighten, with most outlooks not foreseeing the beginnings of a rebound until the early part of 2009. Jobless claims have spiked to a four-year high on the back of seven consecutive months...

Graduate School of Credit & Financial Management: Executive Education.(awards)
September 1, 2008... NACM and Business Credit magazine congratulate the GSCFM Class of 2008 for an outstanding job! They have earned the prestigious Executive Award--GSCFM's certificate of completion: Allan Alderson, CCE Sr. Credit Manager Tech Data...

On the same team: tales from the sales-credit schism.(credit column)
September 1, 2008... The supposed schism between sales and credit is rooted in intuition; it's a credit department's responsibility to sell only to worthy customers while it's the sales department's responsibility to sell, period. It makes sense that the two...

NACM credit manager's index: report for July 2008.
September 1, 2008... The seasonally adjusted Credit Manager's Index rebounded slightly in July, gaining 0.8% as the manufacturing sector index rose 1.6% and the service sector index crept up 0.2%. All three indexes--combined, manufacturing and service--are hovering...

Containing the outbreak.(International feature)
September 1, 2008... Businesses are being confronted with a cadre of challenges at the moment. The U.S. economy is flirting with recession, financial markets are in turmoil as investment vehicles are failing and write-downs are approaching a staggering point. Some...

Dear Andy.(credit @ work)(Column)
September 1, 2008... [ILLUSTRATION OMITTED] The topic of succession planning is one I hear a lot about these days. In your opinion, is it relevant to our credit department, or is it mostly applicable in making executive-level Leadership decisions? When the...

Former NACM Chairman Sherry Wood will be retiring from WestCoast Paper on October 10, 2008.(member news)(National Association of Credit Management)(resignation of Sherry Wood )(Brief article)
September 1, 2008... [ILLUSTRATION OMITTED] NACM would like to share a portion of the memo issued to WestCoast Paper employees in regard to Sherry's departure: Sherry joined West Coast Paper in 1986 and has been instrumental to our growth. She has achieved...

Alabama lien law.(extra credit)
September 1, 2008... Every state permits a person who supplies labor, materials or services for a construction project to claim a lien against the improved property. While some states differ in their definition of improvements and some states limit lien claims to...

NACM survey: "fast-track" bankruptcy proceedings uncommon.(TRADELINE)(national association of credit management)
September 1, 2008... Results from NACM's online survey from May show that the "fast-track" provisions included in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) that allow for expedited bankruptcy proceedings for small business debtors...

Latin America and the new political order.(international)
September 1, 2008... Significant changes have been taking place in the political landscape in Latin American in the past decade that will have lasting and profound consequences in the region. This new political order could have at least three downside risks: ...

Bylaws amendment review committee report.
September 1, 2008... To ensure that feedback and input is received from all constituents during the amendment process to the National Bylaws, the Bylaws Amendment Review Committee comprises National Board Members, Affiliate Managers and Chairmen of Affiliates. With...

Bylaws of the National Association of Credit Management: reduction draft.
September 1, 2008... ARTICLE I NAME, LOCATION, OFFICES Section 1. Organization Name. The name of this organization will be the NATIONAL ASSOCIATION OF CREDIT MANAGEMENT (NACM), a nonprofit, nonstock corporation, incorporated in the state of Maryland. ...