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.