It’s Getting Much Harder to Receive

Finance departments are feeling a sharp credit pinch as more customers put off
paying their bills.

Last month, former IBM and Chrysler Corp. finance chief Jerry York warned
CFOs to watch their receivables "like a hawk."

His advice at
this year’s CFO Rising conference accentuated his dire prediction that
the U.S. economy is entering a long and dark recession. "In a contracting
economy, receivables become a concern," he said.

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