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Financial executives of U.S. corporations are fighting to keep their companies liquid, and credit managers are becoming an integral part of the liquidity team. They're keeping their tools clean and well oiled. They're also adding a few new weapons to their arsenal.
As usual, the basics come first. Part of the battle is to sustain revenue in the face of a recession that has been aggravated by the great destruction of property and confidence that occurred on September 11. As high-profile bankruptcies mount--Enron, Kmart, Great Crossings and others--the risk of extending trade credit has become acute but essential. Credit managers are asked to anticipate future ...