NACM's 111th Las Vegas Credit Congress & Exposition: June 10-13, 2007 Bally's Las Vegas.

Credit Congress hits the jackpot

NACM's 111th Credit Congress in Las Vegas was a rousing success. It was the best-attended congress in several years and the consensus from attendee feedback was overwhelmingly positive. Great events such as the 2nd Annual Golf Outing, Silent Auction, various luncheons and receptions and the Expo Hall provided networking and fun for attendees, while the backbone of Credit Congress, the educational sessions, once again provided a vast array of information and advice critical for credit professionals who want to expand and refine their expertise in the field of business credit. Even those attendees hoping for an Elvis sighting weren't disappointed, as a talented Elvis impersonator provided the entertainment at the opening General Session.

As part of NACM's certification program, this year's Credit Congress offered its attendees the chance to brush up on what they needed to know for their CBA, CBF and CCE exams. Review sessions were held on Sunday morning while exams were given that same afternoon.

Attendees in search of their first designation listened closely to James McIntyre, CCE, president of McIntyre Enterprises, Ltd., and Wanda Borges, Esq., member of Borges & Associates LLC, as they led them through potential exam items in the CBA Review Session. McIntyre went over the operations of the Federal Reserve explaining how it buys and sells securities to control the market along with reserve requirements and the fact that credit managers need to be aware of the prime rate because their customers are borrowing money based on this rate. Can your customer afford the current rate?

Among the many other topics covered were ECOA, TILA, antitrust laws and negotiable instruments. A specific problem addressed during the session was the calculation of the discount amount in terms of payment. Several attendees were having problems coming up with the correct answer given on the test exam. McIntyre walked through the calculation steps and the confusion was cleared when he pointed out to be sure not to include freight charges in the total to be discounted!

For the CBF Review Session, a number of CBAs descended from their hotel rooms early Sunday morning to review with instructor Tom Shimko, CCE, regional credit manager for Cemex USA. "I'm glad you're here. You're dedicated," Shimko said to the attendees. When asked about her desire to get her CBF, Destine Stark, CBA, credit manager for Carlisle Tire & Wheel, noted that her decision was a personal one. "I don't necessarily need it for my job," she said. "I want it for myself."

The CBF exam covers business law, credit law, financial statement analysis and credit risk assessment, and the review session went over these items as well, with plenty of time allotted for a lively discussion and an open exchange of ideas among the delegates.