0

One of the benefits of group membership is being able to access the anscers databank anytime and not only receive information from members of your group, but information from members outside of your group. Many groups share common customers, and being able to pull up an anscers.com report and see a trade line or alert […]

Continue Reading

0
ntcr sample report image

CMA is proud to make available the newly redesigned NACM National Trade Credit Report (NTCR) to its members. The report, which acts as the perfect complement to the major bureau reports, includes information from the majority of NACM affiliate members. The NTCR is especially excellent in industries such as: Construction, Steel, Metal and Aluminum, and […]

Continue Reading

1
IMG_7974ef

Greetings everyone! As you probably know by now, I am a huge proponent of education. I feel that every little nugget that I take away helps me to be a better credit professional and add to my skill set. I’ve achieved the CCE designation, and I try to attend every CMA or NACM event that […]

Continue Reading

3
Darrell Horton, CICP

CMA member (and former Chairman of the Board of Directors) Darrell Horton, CICP, of Aristocrat Inc. has announced his candidacy for the NACM National Board of Directors. Ballots for the NACM National Board will be sent out to all CMA members beginning today Monday October 12. If you didn’t receive your ballot, contact us at […]

Continue Reading

0

Submitting your company’s full A/R has been talked about quite a bit this summer. There is a reason for that…it’s important. I wanted to take a minute to point out the value and personally ask for your support in this request. You know, the more companies that contribute, the more people that will benefit. If you […]

Continue Reading

0

by Matt Fluegge, Vantiv You may have heard there’s a change coming to the way many businesses accept card payments. The U.S. is in the process of transitioning away from the magnetic stripe cards we’re all familiar with, and moving toward installing small microchips into the cards – also known as chip-and-sign. If you’ve already upgraded […]

Continue Reading

1
What are the benefits of contributing your company’s full A/R to CMA?

  Are you looking for an additional incentive to get your slower-paying customers to pay faster? Here’s one more: by submitting your accounts receivable data to Credit Management Association, you can positively (or negatively) affect your customer’s payment history, as the information is aggregated safely and securely with all other participating NACM affiliate information into […]

Continue Reading

0
Melissa Kobus, CCE, is the Credit Management Association Chair and Regional Credit Manager for Anixter Inc., based in Anaheim, CA. She can be reached at 714-695-2219, or melissa.kobus@anixter.com

As you probably already know, I am a big proponent of continuing education, which is why I attended the CreditScape – Western Region Credit Conference,  held at the Palms Hotel in Las Vegas last month. As someone who has participated in many seminars and events, this was one of the better programs I’ve attended.  I […]

Continue Reading

What’s new at CreditScape 2014?

Published on September 23, 2014 by in Articles, Education, Events, NACM

0
CreditScape 2014

In four weeks from today, many of the greatest minds in credit management will gather at the Palms Hotel in Las Vegas at CreditScape, the 2014 Western Region Credit Conference. If you haven’t already signed up for the conference, here are 10 new reasons to attend: 1. NEW TO WRCC: Top-notch presenters and program moderators, […]

Continue Reading

0

I wanted to remind our readers to make plans to attend the NACM Western Region Credit Conference: CreditScape by this Friday, August 15, as NACM members will save $100 on conference registration by that date. This three-day conference, October 15-17, 2014 at The Palms, Las Vegas, Nevada, offers in-depth education sessions, top-notch keynote presentations by industry […]

Continue Reading

Credit Managers Index for December 2013

Published on January 17, 2014 by in NACM

0
CMI

Market-watchers looking for holiday cheer would be hard pressed to find any in the December Credit Managers’ Index (CMI), published by the National Association of Credit Management (NACM). The Combined Index fell dramatically from 57.1 to 55.6, erasing most of the gains made in the last few months and taking the CMI back to levels not seen since […]

Continue Reading

0
Credit Congress 2013

In May 2013, NACM’s Credit Congress & Exposition celebrates 117 years of education, enlightenment, unity of purpose, professional excellence and so much more. Join us at the Rio Hotel Las Vegas for the year’s largest gathering of business credit professionals in the country. NACM Members receive a special rate if they register before 12/14/2012. The rate is […]

Continue Reading

0
October's Credit Managers' Index - No Big Gains

The bad news is the October Credit Managers’ Index (CMI) did not see September’s big gains. The good news is that there was no retreat from September’s numbers. The overall index hit 53.8 in September after tumbling to 52.7 in the previous month, but in October the index essentially held steady at 53.7. There was […]

Continue Reading

Stop Venue Shopping in Bankruptcies

Published on September 21, 2011 by in NACM

0
The dome of the US Capitol building.

NACM is urging all of its members to support a bill in Congress that would require corporations to file Chapter 11 cases in the judicial district where they have their principal place of business or principal assets. H.R. 2533—the Chapter 11 Bankruptcy Venue Reform Act—would strongly curb the practice of venue shopping, whereby debtors choose to file in a jurisdiction that’s […]

Continue Reading

0
CMI

The Credit Managers’ Index (CMI) for August hasn’t been this low in more than a year—falling from July’s 53.9 to 52.7— and is now tracking at levels last seen in 2008–2009. “The news this month is not good and comes as no shock to anyone who has been tracking the data coming from all directions,” said Chris […]

Continue Reading

NACM Credit Managers Index April 2011

Published on May 25, 2011 by in NACM

0

April 2011 is the month the U.S. economy started to confront dual threats and the credit community almost instantly reflected the transition. For the past two years the focus of the business community has been almost solely oriented toward recovery and finding strategies that would propel them toward that recovery. The threat of inflation was […]

Continue Reading

NACM’s CMI – An Accurate Predictor

Published on January 25, 2011 by in NACM

0
CMI Graph

NACM’s Credit Management Index has proven to be an accurate predictor of the changes in the economy. In the January issue of NACM’s Business Credit Magazine an article about the success of the CMI and the potential for regional versions was published. CMA encourages you to participate in the monthly CMI survey so that we […]

Continue Reading

NACM Credit Manager’s Index Dec 2010

Published on January 5, 2011 by in NACM

1

The news for the end of the year was better than anticipated, matching the news coming from the retail sector in general. The gains in the overall CMI were impressive, but of more significance is the improvement in some key sub‐sectors. For the past four to five months there were pretty steady gains in areas like sales […]

Continue Reading

NACM Credit Managers Index – November 2010

Published on December 1, 2010 by in NACM

0

The progress noted over the last three months in the Credit Managers’ Index (CMI) came to an end in November, at least as far as the manufacturing sector was concerned. The service sector data was a little more encouraging, but not enough to keep growth from stumbling. The combined index posted less than a 0.1 […]

Continue Reading

Credit Managers Index for Sept. 2010

Published on October 13, 2010 by in NACM

0
CMI

“If you are a big fan of volatility, you will like this month’s Credit Managers’ Index (CMI),” said Chris Kuehl, Ph.D., the National Association of Credit Management’s (NACM) economic advisor. “The positive trends that we saw in last month’s manufacturing data were replaced by some negative trends, while the service sector that looked so stressed […]

Continue Reading

NACM Credit Managers Index August 2010

Published on September 2, 2010 by in NACM

0

The trend in data this past week was hardly encouraging, resulting in another chorus of pronouncements regarding an imminent return to recession. The housing market remains in the doldrums, GDP numbers were revised down in reaction to the worsening trade deficit numbers and there was a decline in the markets. In the midst of all this gloom comes […]

Continue Reading

NACM Credit Management Index 8/2/2010

Published on August 19, 2010 by in NACM

0

July’s Credit Managers’ Index (CMI) continued to show that the economy as a whole is stuttering. The overall index remains above 50, but not by much, and these levels have not been seen since late last year when the index was down to 52.9 in December. As recently as April, the combined index was up to 56.5; […]

Continue Reading

0
FTC Extends Enforcement Deadline for Identity Theft Red Flags Rule

At the request of several Members of Congress, the Federal Trade Commission is further delaying enforcement of the “Red Flags” Rule through December 31, 2010, while Congress considers legislation that would affect the scope of entities covered by the Rule. Today’s announcement and the release of an Enforcement Policy Statement do not affect other federal […]

Continue Reading

NACM CMI Report For March 2010

Published on April 1, 2010 by in NACM

0
CMI

The most striking aspect of this month’s Credit Managers’ Index (CMI), issued by the National Associationof Credit Management (NACM), is that sales in both the manufacturing and service sectors jumped—and ata pace not seen in over a year. This reinforces the news from consumer demand studies showing that spending was up last month. The increase […]

Continue Reading

0

The growth manifested in January has been interrupted. However, the drop in activity in February was not enough to plunge the Credit Managers’ Index (CMI) back into negative territory. In fact, a marginal gain moved the combined index from 55.1 to 55.2 and was somewhat anticipated due to the inspiring recent expansion in the manufacturing […]

Continue Reading

NACM Credit Managers’ Index January 2010

Published on February 5, 2010 by in NACM

0

The latest data are starting to turn in a decidedly positive direction; GDP numbers are the best in over a year and a half, suggesting that the recession is in clear retreat. After a mild recovery in the third quarter, numbers jumped 5.8% in the fourth. The bulk of this growth is attributed to manufacturers starting to replenish […]

Continue Reading

NACM December CMI – No Fireworks Yet!

Published on January 5, 2010 by in NACM

0

The reports on the economy have been mildly encouraging at year’s end and now everyone’s attention is turned to 2010—the year that is supposed to provide the anticipated recovery. The December CMI matched the mood of the economy as a whole—essentially flat, but showing some mild progress. The most important aspect of the report is […]

Continue Reading

NACM December Survey Results

Published on January 5, 2010 by in NACM

0

Which of the following best describes your credit department? Responsibilities are split – some staff focus exclusively on collection tasks while others focus exclusively on credit extension. — 24.67% Responsibilities are shared – each staff member handles multiple tasks, including collections, credit extension and others. — 47.88% Our credit department operates in a different way […]

Continue Reading

NACM Credit Manager’s Index for Nov 2009

Published on December 1, 2009 by in NACM

0

Black Friday has come and gone and the results are mixed. On the one hand there was much more traffic in the stores than last year, but the average consumer has been spending a bit less and more cautiously. The same pattern seems to have emerged in the business community, as indicated by the shifts in the […]

Continue Reading

Biggest Concerns for 2010?

Published on November 4, 2009 by in NACM

0

NACM October Survey Results Looking forward to 2010, as a credit professional, what are your biggest concerns? The state and future of the economy — 31.25% Slow pay or delinquencies — 23.39% Larger customers increasingly dictating unfavorable terms — 17.96% Your job security — 9.88% Your company’s perception of the credit department as a cost […]

Continue Reading

0

Is the recession truly over? Most of the evidence says “yes,” although there will be problems to contend with for the next few months. In many ways, the best way to characterize the situation is to say that the beatings on the economy have stopped, but that every bone has been broken. The recovery started […]

Continue Reading

NACM Credit Manager’s Index for August 2009

Published on September 8, 2009 by in NACM

0

After six months of solid gains, the Credit Managers’ Index showed slower progress and registered declines in key indicators. There was still some positive movement in the Index as a whole, but there are obvious weaknesses showing up in terms of credit availability, credit applications and sales. There were also areas of concern in terms of dollar exposure, […]

Continue Reading

NACM – CMI Report for July 2009

Published on August 18, 2009 by in NACM

0

For the sixth straight month, the Credit Managers’ Index indicates that there is growth in the availability of capital. The recovery in the index started in February of this year, supporting the notion that the economy was starting to show some rebound and “green shoots.” The July index also moved much closer to the magic […]

Continue Reading

0

Today, the Federal Trade Commission (FTC) announced that it would further delay enforcement of the “Red Flags” Rules by another three months, from August 1 to November 1, 2009. The commission also announced that it would redouble its efforts to educate small businesses and other entities about complying with the Rules and work to ease […]

Continue Reading

NACM CMI Report for June 2009

Published on July 8, 2009 by in NACM

0

The recovery from the recession of 2008‐2009 continues to be a controversial topic as there are arguments asserting that the economy really has touched bottom and is on the road to rebound, just as there are arguments that assert that the economy has been severely damaged by the downturn and is not yet ready for […]

Continue Reading

NACM Credit Managers Index May 2009

Published on June 8, 2009 by in NACM

0

Lately, there has been a great deal of discussion about whether or not there is reason for some optimism regarding the U.S. economy’s recovery. The phrases are showing up everywhere: “green shoots” and “light at the end of the tunnel” and even references to a “phoenix rising from the ashes.” “Those who have been watching the Credit […]

Continue Reading

0

“Trade creditors today have more access to information than they ever have before,” said Ken Rosen, Esq., assistant vice president at Lowenstein Sandler PC. “When a big company files a bankruptcy, there aren’t a whole lot of excuses for trade creditors not to know.”  During his recent teleconference, “Providing Senior Management the Facts on Financially […]

Continue Reading

0
CMI-LOGO_outline_medium

The seasonally adjusted Credit Managers’ Index (CMI) rose another 0.5% in March after rising by 2.5% in February. This two‐month increase broke a lengthy string of negative readings and matches up well with other data that has recently emerged—a slight reversal of the downward trend in manufacturing, a small boost in retail sales and a […]

Continue Reading

NACM Web Site Redesigned

Published on April 6, 2009 by in NACM

1

NACM has redesigned their website making information easier to find. Stop by today to take a look nacm.org. Comment here – what do you think of the new look?

Continue Reading

Credit Congress Early Bird Rate Ends Soon

Published on March 20, 2009 by in NACM

0
Mon149

  One Week to Register and Save $100 on Credit Congress with the Early Bird Rate!  The early bird member rate is $659; thereafter,the member registration fee is $759. Early bird rates expire on March 27th. Don't forget to make your hotel reservation soon too. Call the Rosen Shingle Creek directly at 866-996-6338.

Continue Reading

0
Cc09_150x180_thumbnail_1

In November, U.S. exports grew by more than 14% year-to-date to a hefty $1.7 trillion. The global marketplace has kept the nation afloat, supporting 13.7% of gross domestic product in the third quarter alone. The usual suspects like Canada, Mexico, China and Japan remain the hungriest markets for U.S. goods, but potential free trade partners […]

Continue Reading

0
Bank_story

  Recent hearings in the House Judiciary Committee have indicated that Congress may be willing to open up the Bankruptcy Code in their efforts to shorten the current economic crisis. With the recent passage of "cram down" mortgage provisions that place more power in the hands of bankruptcy judges, as well as a recent hearing […]

Continue Reading

0

It's been a difficult year for creditors. The dour economy and timid spending from consumers has sunk enterprises across the country at a rapid pace. The rise in corporate bankruptcies has been a troubling event for credit managers to wrangle with and, ultimately, no credit professional wants to discover themselves in a position asking, "What […]

Continue Reading

0

Despite the relatively old body of law governing competition, antitrust issues still beguile credit grantors regularly and violations of those laws can be easily made and painfully costly, especially in a recession. "This topic becomes more and more important everyday especially in today's economy," said Wanda Borges, Esq. of Borges & Associates LLC. In a […]

Continue Reading

0

NACM's most recent monthly survey, asking "Have you ever served on a creditors' committee?," illustrated the broad array of opinions regarding the worth of these committees in a bankruptcy case, with some saying their attendance helped their company get a better claim in the proceedings and others arguing that a credit professional's time is better […]

Continue Reading

NACM Credit Manager’s Index January 2009

Published on February 24, 2009 by in NACM

0

The seasonally adjusted Credit Manager’s Index (CMI) fell 0.4% to a record low of 39.7 in January, its sixth consecutive decline. All 30 components in the indexes are below the 50 level signaling economic contraction; 13 are even below 40, suggesting a powerful recession, and 13 are at record lows. Seven of 10 components fell […]

Continue Reading

Save $114 on Credit Congress 2/13/09

Published on February 11, 2009 by in NACM

0

NACM is offering $114 off of Credit Congress Registration if you register online on Friday 2/13/09 between the hours of 1:00 pm and 4:00 pm eastern time (10 am to 1 pm our time). Make sure to make a print out of your registration just in case. Here is a link to registration.

Continue Reading

Credit’s Role in Customer Visits

Published on January 22, 2009 by in NACM

0

It seems that, in an age of heightened travel concern, everyone knows someone or has their own story of an airport security nightmare, whether from an overzealous TSA agent or an innocently misplaced bottle of mouthwash. In general, increasingly stringent security policies have removed a bit of the sheen that once characterized the world of […]

Continue Reading

0

Responses to NACM's December 2008 Survey question, "Do you support a government bailout of the 'Big 3' auto companies?" showed that a majority of respondents opposed the government's proposed bailout of the Ford Motor Co., General Motors Inc. and Chrysler LLC. All in all, 66.8% of participants answered "no," and 28.8% responded "yes." Only 4.4% […]

Continue Reading

0

The seasonally adjusted Credit Manager’s Index (CMI) fell 2.1 in December to a record low 40.1. It was the fourth consecutive record low. All 10 components are below the 50 level, representing economic contraction, and six of the components are at record lows. “The carnage was widespread as both the service and  manufacturing indexes fell […]

Continue Reading

0

"We seem to have a crisis a week and now the crisis is the risk of bankruptcy of the big three auto companies," said Bruce Nathan, partner at Lowenstein Sandler PC, introducing his most recent NACM-sponsored teleconference, "Protecting Trade Creditors From Customer Bankruptcy: No Need to Cry the Blues!" "There's lots of turmoil, credit is […]

Continue Reading

0

With all the doom and gloom surrounding the current state of the U.S. market, including, most recently, a worse-than-expected jobs report, responses from credit professionals participating in NACM's November survey paint a picture of clearer skies on the horizon or, at the very least, an economy that has reached the bottom. In response to the […]

Continue Reading

NACM Credit Manager’s Index November 2008

Published on December 9, 2008 by in NACM

0

“The seasonally adjusted Credit Manager’s Index (CMI) for November painted an even uglier portrait of theeconomy than it did last month, dropping 2.6 to a record low of 42.2, well below the 50 level indicatingeconomic contraction,” reported Daniel North, chief economist with credit insurer Euler Hermes ACI, whoevaluates the data and prepares the report for […]

Continue Reading

Case Studies and Presenting Credit Decisions

Published on November 18, 2008 by in NACM

0

Typically, credit managers aren't performing back flips and climbing over each other at the chance to lead presentations on case studies. The dreaded topic is a producer of much anxiety for those having to outline their credit decisions to a third party, whether it is a boss or their peers. Susan Lujan, CCE, corporate credit […]

Continue Reading

0

Few treats found as accounts placed for collection and other indicators hit record lows, again. "The seasonally adjusted Credit Manager's Index (CMI) for October revealed an increasing sense of doom among the participants, mirroring conditions in the rest of the economy," said Daniel North, chief economist for credit insurer Euler Hermes ACI, who analyzes the […]

Continue Reading

0

NACM's October Survey, which asked "Looking forward to 2009, as a credit professional, what are your biggest concerns?," showed that the struggling global economic situation is weighing heavily on the minds of credit professionals as 2008 winds down, with a whopping 88.1% of respondents listing "the state and future of the economy" as one of […]

Continue Reading

NACM Credit Manager’s Index October 2008

Published on November 3, 2008 by in NACM

0

“The seasonally adjusted Credit Manager’s Index (CMI) for October revealed an increasing sense of doom among the participants, mirroring conditions in the rest of the economy,” said Daniel North, chief economist for credit insurer Euler Hermes ACI, who analyzes the data and prepares the CMI report for the National Association of Credit Management. The combined […]

Continue Reading

“Red Flags Rule” Deadline Pushed Back

Published on October 31, 2008 by in NACM

0

The Federal Trade Commission (FTC) has delayed the implementation deadline of its "Red Flags Rule" to May 1, 2009. Creditors and financial institutions were initially required to have policies for identifying, detecting and responding to patterns that could indicate identity theft by November 1, 2008. The delay is to allow affected companies to have more […]

Continue Reading

0

The International Accounting Standards Board (IASB), working jointly with the U.S. Financial Accounting Standards Board (FASB), recently published for public comment a discussion paper on financial statement presentation, marking the first step in the establishment of a somewhat elusive global standard governing the way business entities organize their financial statements. The discussion paper includes an […]

Continue Reading

NACM’s Asset Protection Group Alert

Published on September 24, 2008 by in NACM

0

Date: September 23, 2008 Company: AB Commercial Supply Address: 6521 South Vermont Avenue, Los Angeles, CA 90044 & 3000 Westwood Blvd., Los Angeles, CA 90034 Phone: 323-759-2564        Contact(s): Jason Taylor Industry of Target: General Reason(s): Unsuccessful contact made to subject; shipment delivered to residential location; unsuccessful collections attempts. ***APG requests that anyone having […]

Continue Reading

Top 10 Chapter 11 Bankruptcies Has a New #1

Published on September 24, 2008 by in NACM

0

With the failure of investment bank giant Lehman Brothers, the top 10 largest Chapter 11 bankruptcies in the history of the United States has a new—even record-holding—top spot holder, beating the previous #1, Worldcom, by over $500 billion. Analysts say the new records will be constantly set as Lehman goes through its reorganization and bankruptcy […]

Continue Reading

Payments Beyond Terms Are Increasing

Published on September 15, 2008 by in NACM

0

The seasonally adjusted Credit Manager’s Index has inched even closer to the neutral economic expansion/contraction point of 50%, creeping down 0.2% to hover at 50.7%. The manufacturing sector index slipped a full percentage point to 50.4%, as only four of its 10 components rose. The service sector index fared better, gaining half a percentage point, […]

Continue Reading

0

Concern over whether a customer is having financial problems has always been a central issue for credit managers. Their role is defined by being able to pick which companies are worth the risk. With bankruptcy filings rising, default and delinquency rates also trending upwards, its the issue of insolvency that’s getting the spotlight at the […]

Continue Reading

NACM Credit Manager’s Index for August 2008

Published on September 15, 2008 by in NACM

0

The seasonally adjusted Credit Manager’s Index has inched even closer to the neutral economicexpansion/contraction point of 50%, creeping down 0.2% to hover at 50.7%. The manufacturing sector indexslipped a full percentage point to 50.4%, as only four of its 10 components rose. The service sector indexfared better, gaining half a percentage point, rounding out at […]

Continue Reading

10

Let FCIB Help You Broaden Your Knowledge – Join the Over 1000 Credit Professionals Who Have Taken Advantage of this Amazing Program! FCIB’s International Credit and Risk Management Online Course Next Session Starts September 14th  Register Today – Become a Certified International Credit Professional (CICP) Designed with you in mind, this 13-week, in-depth course will […]

Continue Reading

NACM September Survey – Re: The Government

Published on September 2, 2008 by in NACM

0

Does your company do business with the local, state or federal government? Click here to answer. It only takes a minute! Watch for a new survey question at the beginning of each month in your eNews Weekly Update or on the NACM homepage. In appreciation for your participation, you will earn .1 roadmap point toward […]

Continue Reading

Legal Issues in Credit

Published on August 28, 2008 by in NACM

0

A company’s credit department is often one mired in legal issues and while many of them relate to reducing legal exposure and getting money when a customer goes delinquent, many others are problems that could penalize the debtor due to inadvertent unfair practices. Laws like the Fair Credit Reporting Act (FCRA), multiple antitrust statutes and […]

Continue Reading

Credit Policy and Procedures

Published on August 27, 2008 by in NACM

2

The economic outlook for the year ahead is bleak. Some analysts have forecast that the second half of 2008 will stay mired in the doldrums with annualized growth not returning to near-normal levels until sometime in 2010. Federal Reserve Board Chairman Ben Bernanke has said the U.S. inflationary picture is shrouded in uncertainty and the […]

Continue Reading

0

It’s a short story contest! Share your most memorable credit experience for a chance to win $250.Tell us about the biggest success, proudest moment or most humorous situation experienced during your career. It’s not a perfect world, either. You can tell us about an unexpected turn in what should’ve been an easy task, or even […]

Continue Reading

0

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 just above the crucial 50 value, indicating a slight degree of economic expansion. “There was little in the data to provide […]

Continue Reading

0

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 still-significant 32.2% of respondents answering “yes.” Many respondents who answered “no” indicated in their comments that they […]

Continue Reading

0

In lean economic times, states are often hard pressed to secure revenues. Regulations, fees and fines that may not have been as strictly enforced in more robust environments make their way to the surface to become key enforcements. “When budgets are tight and states are looking to increase revenue, we have seen unclaimed property enforcement […]

Continue Reading

0

For the most part, the construction industry is struggling through lean times. According to the U.S. Department of Commerce’s U.S. Census Bureau report for May, for the first five months of 2008, construction spending totaled $416.6 billion, 5.1% below the total for the same period last year. Residential construction spending continues to topple, dipping to […]

Continue Reading

0

According to NACM’s most recent monthly survey, "In your company, can a sales team overrule a decision by the credit department?" the majority of respondents noted that sales cannot overrule their department’s credit decisions, with 60.7% of participants answering "No." However, while a still sizeable 39.3% answered "Yes" to the survey question, many of these […]

Continue Reading

0

The FCIB California International Round Table that will be held at The Luxe Hotel Sunset Boulevard, located in Los Angeles, on Wednesday, September 17, 2008. FCIB Round Tables are exceptional educational and networking opportunities for the international trade professional. Please invite your colleagues, clients and friends to join us as well – it is a […]

Continue Reading

0

"The seasonally adjusted Combined Credit Manager’s Index fell 0.9% in June, setting or tying a number of unpleasant records in the process," said Daniel North, chief economist with credit insurer Euler Hermes, ACI, who evaluates and issues the report for the National Association of Credit Management (NACM). "All three indexes tied their records for the […]

Continue Reading

0

The Securities and Exchange Commission recently approved a one-year extension of the compliance date for smaller public companies to meet the auditor attestation requirement of Section 404(b) of the Sarbanes-Oxley Act (SOX), meaning that smaller companies will be required to start providing an attestation report in their annual reports in fiscal years ending on or […]

Continue Reading

0

Results from NACM’s most recent online survey 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 have largely gone unused. When asked "Have you dealt with a debtor going through a ‘fast-track’ bankruptcy, the provisions under […]

Continue Reading

Dealing With Difficult People

Published on June 17, 2008 by in NACM

0

In almost everyone’s life, there is one person that irks them or gets under their skin; that knows how to push their buttons. Often, this painful person can be avoided or at least contact minimized for the sake of one’s sanity. But the workplace provides a kind of conundrum. Difficult people can be on all […]

Continue Reading

0

During his presentation at NACM’s 2008 Credit Congress in Louisville, entitled "Outlook for a Global Economy—Implications of a Recession in the U.S.," Byron Shoulton, vice president and international economist with FCIA Management, Co., Inc., noted that the current economic downturn plaguing the globe may not be as short-lived as some would hope. "I think we’re […]

Continue Reading

0

The results of NACM’s first monthly survey question illustrated that preference claims for under $5,000, forbidden by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), have all but vanished since the law’s enactment. Of the responses to the survey question, "Have you received a preference claim for less than $5,000 since the […]

Continue Reading

0

The seasonally adjusted combined Credit Manager’s Index rose slightly to 50.1, barely above the critical 50 level indicating economic expansion. The increase of 0.2% was a result of the manufacturing sector falling0.8% while the service sector rose 1.2%. Five of the 10 components in the combined index fell, but six are below 50. Eight components […]

Continue Reading

0

While the Fair and Accurate Credit Transactions Act of 2003 (FACTA) doesn’t expressly include business-to-business transactions in its identity theft prevention provisions, companies whose customers include both other companies and consumers may be required to comply with FACTA’s "Red Flag" regulations. The regulations, listed in Sections 114 and 315 of the Act, require companies to […]

Continue Reading

Bankruptcy Point/Counterpoint NACM

Published on May 15, 2008 by in NACM

0

Two of NACM’s most popular legal minds went head-to-head during the recent "Bankruptcy Update: Point/Counterpoint" teleconference, where they discussed several BAPCPA protections for trade creditors, along with the most current related case law and the administrative ambiguities that accompany some creditor defenses. Bruce Nathan, Esq. of Lowenstein Sandler PC acted as the voice of the […]

Continue Reading

0

"The letter of credit (LC) is an obligation that banks have to your company if certain conditions set forth in the LC are met," said Robert Mercer, Esq. of law firm Powell Goldstein, LLP. "This is an attempt to isolate your company from the customer." Mercer, a partner at Powell Goldstein’s Atlanta office who practices […]

Continue Reading

0

The results of NACM’s April survey are in: Have you received a preference claim for less than $5,000 since the passage of the BAPCPA in 2005?Yes: 5%No: 95% Participate in the May Survey: Have you dealt with a debtor going through a “fast track” bankruptcy, the provisions under BAPCPA which allow expedited proceedings for Chapter […]

Continue Reading

Are You Viewed As a Leader?

Published on April 24, 2008 by in NACM

0

Company executives are fully aware of the impact sales has on their company’s future, but many of them might not be so aware of how close accounts receivable (A/R) relates to the organization’s sustainability and potential for growth. "It’s really important to show them how credit can affect them," said Susan Archibeque, CCE in a […]

Continue Reading

0

The House Committee on Small Business, chaired by Rep. Nydia Velázquez (D-NY), recently held a hearing on the increasing role of credit cards in the financing of small businesses. As the U.S. marketplace continues to weather a credit crunch, small businesses have found affordable financing exceedingly scarce, and have thus reached to credit cards to […]

Continue Reading

0

or the first time since the seasonally adjusted Credit Manager’s Index (CMI) was calculated in February 2002, the combined index has fallen below the crucial 50 level, indicating an economic contraction. It was the sixth decline in seven months, and a record six of 10 components fell. The service sector fell below 50 for the […]

Continue Reading

0

Over the past year, NACM has informed you that on January 1, 2011, a mandatory 3% withholding measure on the value of most contracts for goods and services sold by businesses to federal and state governments, including local political subdivisions with contracting expenditures of $100 million or more, will go into effect. NACM opposes this […]

Continue Reading

Breaking Ground on UCP600

Published on April 1, 2008 by in NACM

0

Somewhere between 11-15% of international trade uses letters of credit (LCs), representing trillions of dollars each year. As such, there has been a need for consistency in the rules and regulations that govern this form of documentary credit. The latest in a long line of these standards is Uniform Customs and Practice No. 600 (UCP600), […]

Continue Reading

0

After a number of years in the industry, it might be easy for a credit professional to overlook the credit application as something that’s more a part of the landscape than anything else. However, if an account goes bad, a haphazard credit application could make the collection process a lot more difficult. “Credit executives seem […]

Continue Reading

0

Monday, May 19, 2:00–5:00pm Industry day sessions are designed for attendees to gather and network by like industries. Please note that these are not “closed” group meetings (unless indicated) and anyone is welcome to attend any of these sessions, should the topic/speaker be of interest. 10621. Advertising/Media 10622. Agri-Business 10623. Apparel/Footwear 10624. Building/Construction 10625. Drugs/Cosmetics/Pharmaceuticals […]

Continue Reading

0

The Early Bird deadline for NACM Credit Congress is March 28, 2008. Click here for full information. The Credit Congress in Louisville marks 112 years of superior conferences designed by the National Association of Credit Management specifically for business credit and financial management professionals. In May 2008, NACM will once again present an exceptional event […]

Continue Reading

The Illusion of a Good Deal

Published on March 12, 2008 by in NACM

0

There’s no question that a lot people have a hard time wading through the confusing and overwhelming maze of data present on statements that they receive from their credit card processors. There’s a popular mental image that processors are merely robbing their customers, hitting them with a never-ending string of charges like convenience fees, access […]

Continue Reading

Loose Lips…

Published on March 11, 2008 by in NACM

0

Section 548, the fraudulent transfer portion of the Bankruptcy Code, is placing more emphasis on the importance of what is said. The law firm of Powell Goldstein, LLP highlighted two recent bankruptcy cases where loose lips from defendants came back to bite them. In the recent bankruptcy hearing for Teligent Inc. in New York, the […]

Continue Reading

Statistical Tools for Managing Accounts

Published on March 4, 2008 by in NACM

0

With the current economic environment and a surge in defaults and bankruptcies, there has been greater emphasis on being able to ascertain the risks of customers. The recent NACM teleconference, "Statistical Tools for Managing Accounts," presented by Prof. Jack Williams, JD, CIRA, CDBV of Georgia State University praised the value of using various types of […]

Continue Reading

Business Credit Compensation Survey

Published on March 3, 2008 by in NACM

0

NACM and FCIB are conducting a Business Credit Compensation Survey. A free copy of the report is available to those who participate in the survey. Click here to participate.

Continue Reading

0

The seasonally adjusted Credit Manager’s Index (CMI) remained unchanged in February, breaking a streak of five consecutive declines. A rise of 1.5% in the manufacturing index was offset by a decline of 1.6% in the service index. However, the dollar collections component in manufacturing distorted the totals, soaring 10.2%, the second highest jump ever. “Without […]

Continue Reading

0

FCIB’s California International Business DayMarch 6, 2008 — 7:30am – 11:30am – Click here to RegisterSVB Silicon Valley Bank – Santa Clara, California FCIB is pleased to announce its International Business Day in California, sponsored by SVB Silicon Valley Bank.  Mark your calendars and plan to attend this educational and networking event! This Business Day […]

Continue Reading

0

The Securities and Exchange Commission (SEC) unanimously proposed a one-year extension of the auditor attestation requirement of Section 404(b) of the Sarbanes-Oxley Act (SOX) for small businesses, allowing the commission to undertake and complete a cost-benefit study of the requirements effects on smaller firms. SEC Chairman Christopher Cox previously announced the extension in testimony before […]

Continue Reading

PCAOB Adopts New Auditing Standard

Published on February 11, 2008 by in NACM

0

In light of the Financial Accounting Standards Board’s (FASB) issuance of Statement of Financial Accounting Standards No. 154, Accounting Changes and Errors Corrections, the Public Company Accounting Oversight Board (PCAOB) has adopted the Auditing Standard No. 6, Evaluating Consistency of Financial Statements, as well as an accompanying set of amendments. "Auditing Standard No. 6 will […]

Continue Reading

0

The seasonally adjusted Credit Manager’s Index (CMI) fell for the fifth consecutive month in January, slipping 1.0 point to a record low of 51.4. The previous record had been set last month at 52.4. “Five of the index’s 10 components fell, and both the manufacturing and service indexes declined, indicating that the weakness was widespread […]

Continue Reading

0

This year’s Credit Congress will not only offer attendees an opportunity to network, grow and improve as credit professionals, but it will also give them the opportunity to delve into one of the nation’s most culturally rich, and often overlooked, cities. Often called either "the southernmost northern city" or "the northernmost southern city," Louisville offers […]

Continue Reading

Master of the Matrix, Master of the Cs

Published on February 1, 2008 by in NACM

0

The entry level NACM teleconference, "The Art of Credit Management," presented by Eddy Sumar, MBA, CCE, CICE, of ERS Consulting Services, was aimed at providing the groundwork for success for credit department members. In it, he discussed his theory of the 18 basic "Cs" of credit, the credit matrix and creating a fundamental checklist that […]

Continue Reading

0

On January 24th and 25th, attorneys Bruce Nathan, Esq., Lowenstein Sandler PC, and Wanda Borges, Esq., Borges & Associates LLC, hosted the first of three sessions in NACM’s 2008 Legal Workshop series. The two attorneys are familiar faces in the association’s educational programs, and teamed up to speak in-depth about credit applications and guaranties and […]

Continue Reading

NACM Resource Library

Published on January 22, 2008 by in NACM

0

The quickest and easiest way to research the most current information on business credit topics is now a benefit of membership! (Formerly a subscription service, now available to members of record.) Access this site using the same username (your e-mail address) and password as you currently use for all other services on the NACM-National and […]

Continue Reading

0

When Congress returns to session later this month, one of the pieces of business to finish is the reconciling of the House and Senate versions of the 2007 Farm Bill. Unfortunately, with the two versions suffering from some very fundamental differences, the outlook for a successful conference seems farfetched. "With all that has gone into […]

Continue Reading

NACM Credit Managers Index December 2007

Published on January 2, 2008 by in NACM

0

The seasonally adjusted Credit Manager’s Index (CMI) fell for the fourth consecutive month in December. The index lost 0.7%, and dropped to a record low of 52.4%. Six of the 10 components fell, including a 4% drop in dollar collections. Daniel North, chief economist with credit insurer Euler Hermes ACI, said, “While the manufacturing index […]

Continue Reading

0

Nearly One-Third of Americans Plan to Spend Less This Holiday Season; Americans Show Signs of Financial Discipline in the New YearVolatile economic conditions and fear of a looming recession are weighing on the minds of Americans as they descend on shopping malls and online shopping sites this holiday season. The majority of American workers (71%) […]

Continue Reading

Hidden Gold for Trade Creditors

Published on December 6, 2007 by in NACM

0

When dealing with an insolvent or bankrupt debtor, creditors will do everything in their power to reclaim the money they were owed. Whether securing transactions prior to sale or using specific legal defenses in the courtroom, every credit manager can get hit by a debtor who won’t or can’t pay, so it’s best to have […]

Continue Reading

0

An amendment to bankruptcy Rule 3007, which went into effect on December 1st along with several other new amendments, takes away some of the frustration and anxiety for creditors seeking to collect on debts, especially those involved in large bankruptcy proceedings. Historically, in massive Chapter 11 cases, Omnibus Objections to Claims, allowed under Rule 3007, […]

Continue Reading

0

Columbia, Maryland: December 3, 2007—The seasonally adjusted Credit Manager’s Index (CMI) fell for the third consecutive month in November, losing 0.7% as both service and manufacturing sector indexes declined. Although the drop was relatively small, all six unfavorable factors components fell, leaving five below the 50 level, indicating economic contraction. “This is the first time […]

Continue Reading

NACM Credit Managers Index November 2007

Published on December 4, 2007 by in NACM

0

The seasonally adjusted Credit Manager’s Index (CMI) fell for the third consecutive month in November, losing 0.7% as both service and manufacturing sector indexes declined. Although the drop was relatively small, all six unfavorable factors components fell, leaving five below the 50 level, indicating economic contraction. “This is the first time that there has ever […]

Continue Reading

0

The NACM Scholarship Foundation welcomes applications for partial financial scholarships toward designated educational programs. The Foundation is pleased to introduce two categories of scholarships acknowledging two esteemed facets of the credit community. They are: The Credit Management Studies Scholarship (CMSS) or Empowerment Scholarship The Executive Endowment Scholarship (EES) or Enrichment Scholarship To review the eligibility […]

Continue Reading

Year End Special – NACM Bookstore

Published on November 27, 2007 by in NACM

0

98th Edition of the Manual of Credit and Commercial LawsYear End Special – $50.00 Written by experts in the field and published by the most reliable source — it’s the one tool you can’t do without. As important as ever before, this exclusive resource will help you meet the challenges of credit granting in today’s […]

Continue Reading

NACM Members Save When They Ship DHL

Published on November 12, 2007 by in NACM

0

DHL Express allows NACM members to save up to 25% on the full suite of DHL shipping services. You can choose from: DHL Next Day DHL 2nd Day DHL Ground International Document Service Worldwide Priority Express Import Express  Send three shipments by 12/31/07 and receive a $25 savings certificate for your DHL Express invoice.*CALL  1-800-MEMBERS […]

Continue Reading

Preliminary Trade Creditor Remedies

Published on November 8, 2007 by in NACM

0

With uncertainty hovering over the economic health of the nation, there has been no shortage of troubled industries. Most notably, the automotive and subprime mortgage lending industries, which are bound to have an impact on the consumer level, have taken center stage for the ailing state of the economy. "All of this is being affected […]

Continue Reading

Using Staff Evaluations to Motivate

Published on October 24, 2007 by in NACM

0

Managers are faced with the task of making sure that members of their department are operating at the highest level possible. A pay raise isn’t always the answer, though that probably never hurts, while not all employees are on the fast track to a management position. One of the most influential tools can be periodic […]

Continue Reading

0

Securities and Exchange Commission (SEC) Chairman Christopher Cox recently announced the formation of the commission’s Office of Interactive Disclosure. The office’s goal will be to direct the SEC’s global effort to enhance and expand interactive financial data filing. The commission appointed David Blaszkowsky, an 11-year veteran of McGraw-Hill, as director of the office. Blaszkowsky will […]

Continue Reading

0

According to Robert Mercer of Powell Goldstein, the process for a company trying to protect itself from preference and fraudulent transfer exposure can be a tightrope walk. There must be balance between what makes the most business sense for the grantor’s firm, while not destroying that firm’s access to powerful tools like the ordinary course […]

Continue Reading

NACM Credit Managers Index September 2007

Published on October 4, 2007 by in NACM

0

The seasonally adjusted Credit Manager’s Index (CMI) fell 0.3 points in September to 54.8. Dan North, chief economist with credit insurer Euler Hermes ACI pointed out that while the loss was small, it was definitive as seven of the 10 components fell. “The data showed mixed conditions since small gains in the service sector were […]

Continue Reading

0

“You’ve got to look for the numbers,” said Dubos Masson, Ph.D, CTP. “You’ve got to be aware that there are problems.” Credit and financial managers use financial statements on a regular basis, operating under the belief that past financial performance tends to be a good indicator of future financial performance. However, as Masson indicated in […]

Continue Reading

Adding Value Through Good Customer Visits

Published on September 21, 2007 by in NACM

0

“As credit people we don’t ever look at our roles at making the customer experience a little better,” said Susan Delloiacono, CCE, director of credit for Brother International Corp. “We kind of just stay in our own silo and we forget about the touch point we have with the customers.” However, as Delloiacono discussed in […]

Continue Reading

NACM Credit Managers Index August 2007

Published on September 4, 2007 by in NACM

0

The seasonally adjusted Credit Manager’s Index (CMI) crept up .2% in August even though six of 10 components fell. The manufacturing sector rose 0.4 points, but the service sector slipped 0.1. “The data in the survey doesn’t provide a compelling picture of current business conditions, which is backed by comments from the survey respondents,” commented […]

Continue Reading

Adding Value Through Good Customer Visits

Published on September 4, 2007 by in NACM

0

“As credit people we don’t ever look at our roles at making the customer experience a little better,” said Susan Delloiacono, CCE, director of credit for Brother International Corp. “We kind of just stay in our own silo and we forget about the touch point we have with the customers.” However, as Delloiacono discussed in […]

Continue Reading

The Importance of Credit Applications

Published on August 22, 2007 by in NACM

0

When starting to do business with a customer, it’s in any selling company’s best interest to be in control of the situation. For this reason, it’s important for a company to have their own well-constructed credit application and to take the time to create a form that allows them to dictate the terms of the […]

Continue Reading

ECOA and FACTA – Old Tools, New Laws

Published on August 16, 2007 by in NACM

0

Wanda Borges, Esq. of Borges & Associates, LLC recently offered credit professionals legal tips for mitigating the sometimes cumbersome regulations imposed by recently passed or updated laws like the Equal Credit Opportunity Act (ECOA) and the Fair and Accurate Credit Transactions Act of 2003 (FACTA). Borges’ presentation, "Old Tools, New Laws," was part of NACM’s […]

Continue Reading

0

Credit professionals and other company officials may not spend much time considering what to do with their unclaimed property. However, there are legal responsibilities for the accounting and reporting of this company asset that could result in significant civil and even criminal penalties if not met. NACM recently held an educational teleconference by Valerie Jundt, […]

Continue Reading

NACM Credit Managers Index July 2007

Published on August 2, 2007 by in NACM

0
Cmi

The seasonally adjusted Credit Manager’s Index (CMI) fell 1.2% in July, the first decline in four months. While the drop-off was not dramatic, it was widespread as eight of the 10 components fell. “The housing market was once again a major drag on the respondents’ businesses,” said Dan North, chief economist with credit insurer Euler […]

Continue Reading

0

Knowing the law can help creditors enhance their chances of getting paid or overcoming a preference demand from a bankrupt customer. Important legal tips and advice on the subject were provided to attendees of an NACM educational teleconference July 16, 2007 entitled, "Bankruptcy — The Nuts and Bolts for Credit Professionals," presented by Robert Mercer, […]

Continue Reading

0

The efforts of NACM to repeal a 3% withholding tax on the value of most government contracts where recognized recently by Rep. Kendrick Meek (D-FL). Meek, along with Wally Herger (R-CA), sponsored H.R. 1023, the Withholding Tax Relief Act of 2007, which, if enacted, would repeal this withholding tax scheduled to go into effect Jan. […]

Continue Reading

NACM Credit Managers Index June 2007

Published on July 10, 2007 by in NACM

1
Cmi

The seasonally adjusted Credit Manager’s Index (CMI) rose a modest 0.5% in June as a 1.1% increase in the manufacturing sector offset a 0.2% decrease in the service sector. Results throughout the survey showed mostly small changes from the previous month. “The decimated housing market once again weighed heavily on suppliers of building materials in […]

Continue Reading

NACM Credit Congress Photos

Published on July 6, 2007 by in NACM

0

Pictures from the NACM Credit Congress are now available on the NACM website. Click here to access the pictures.

Continue Reading

California Unclaimed Property Update

Published on July 3, 2007 by in NACM

0

An injunction was recently issued against the state of California forbidding it to collect any unclaimed property funds until stronger controls and due diligence procedures are implemented. A preliminary injunction was ordered on June 1st and has since sent major waves through the world of unclaimed property. California had fallen far behind in putting data […]

Continue Reading

0

APG requests that anyone having information on this entity contact us. The results of this inquiry will be released as soon as it is completed. DATE: June 26, 2007 COMPANY: Middle Neck Road Company ADDRESS: 21777 Ventura Blvd., Ste. 212 Woodland Hills, CA 91364 NUMBERS: 818-992-4665 818-712-0006 (FAX) CONTACT: Bart Zena, President INDUSTRY OF TARGET: […]

Continue Reading

Credit Congress Hits the Jackpot

Published on June 26, 2007 by in NACM

0

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. For example, Sam Smith, Regional Finance Manager for Crescent Electric in East Dubuque, IL and first-time Congress attendee, said that it turned out better than he expected […]

Continue Reading

0

Preliminary information released by the Administrative Office of the United States Courts suggests that in the wake of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), the amount of work per case has risen significantly for bankruptcy courts. While filings have decreased sharply since the Act’s passage, each case seems to cost […]

Continue Reading

Credit Managers Index for May 2007

Published on June 5, 2007 by in NACM

0
Cmi

The seasonally adjusted Credit Manager’s Index (CMI) crept up 0.1% in May as a decline in the manufacturing sector of 0.7% was offset by a gain in the service sector of 0.9%. The report showed mostly small changes in the 10 components, with the number of increases and decreases evenly split. “The 0.1% increase for […]

Continue Reading

0

Credit professionals who use or may consider using commercial letters of credit (LCs) in their sales should mark July 1, 2007 on their calendars. That is when the new UCP600 (Uniform Customs & Practice for Documentary Credit) rules for LCs take effect, replacing the UCP500 which has been in effect since 1994. Buddy Baker, vice […]

Continue Reading

0

Letters of credit may be a good credit enhancement for credit professionals to consider in their sales—especially those involving buyers in foreign countries. For those wanting to learn more about letters of credit (LCs), NACM provided a timely audio teleconference on the topic entitled, “Letters of Credit as a Credit Enhancement.” Presenting the May 23, […]

Continue Reading

Tips Offered for Snagging Deadbeats

Published on May 16, 2007 by in NACM

0

For those creditors who have been in the unfortunate position of having a debtor suddenly disappear from the scene, an NACM audio teleconference on May 9, 2007 offered advice on how to relocate the creditor and his or her assets. The teleconference entitled, "Tips for Tracking down Deadbeats," was presented by Bruce Dubinsky, president of […]

Continue Reading

0
Delta

Delta Airlines is expected to emerge from Chapter 11 bankruptcy April 30 and re-list on the New York Stock Exchange on May 3. The third-largest U.S. airline, as measured by passenger traffic, filed for bankruptcy Sept. 15, 2005, having been financially devastated by a spike in jet fuel prices and growing competition from lower-cost, low-fare […]

Continue Reading

0
Stats

Attendees of an NACM audio teleconference, April 25, 2007 got an opportunity to learn about key statistical concepts and tools that can provide a way to analyze and manage the financial accounts of companies. The teleconference, “Statistical Tools for Managing Accounts,” was presented by Jack Williams, a professor at Georgia State University College of Law, […]

Continue Reading

0
Cmi

The seasonally adjusted Credit Manager’s Index (CMI) rose 1.6% in April, recouping last month’s losses as eight of the 10 components of the Index rose. The increase was driven by gains in the sales component and in both collections components. Click here to download full report. “While overall the report was positive, there was a […]

Continue Reading

Bankruptcy Law Update Provided by Experts

Published on April 17, 2007 by in NACM

0
Bankruptcy

Two experts in bankruptcy law provided attendees of an NACM audio teleconference with updates to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. BAPCPA was a major amendment to the federal bankruptcy law that, while making major changes to consumer bankruptcy provisions, also made changes relevant to commercial creditors of insolvent debtors. The […]

Continue Reading

Good Treasury Management Can Reduce DSO

Published on April 11, 2007 by in NACM

0
Profits

Credit professionals can help reduce Day Sales Outstanding (DSO) not only by setting credit terms that are appropriate to the creditworthiness of customers, but also by good treasury management practices. Advice and information about the topic was provided during an NACM audio teleconference, March 28, 2007. Madeline Sprague, CTP, of JPMorgan Chase, presented the teleconference […]

Continue Reading

NACM Credit Managers Index March 2007

Published on April 5, 2007 by in NACM

0
Piggy_banks

The seasonally adjusted Credit Manager’s Index (CMI) fell in March for the seventh time in eight months, losing 1.6%. The decline was driven by the dollar collections component, which fell a record 7.8%, but the weakness was widespread. "Even without the drag of the dollar collections component, the combined index would have fallen, as a […]

Continue Reading

0
98edition

The Manual of Credit & Commercial Laws, 98th Edition Written by experts in the field and published by the most reliable source—it’s the one tool you can’t do without. New information:• Reclamation and Other Return of Goods Remedies• Compliance Issues and Regulations Updates:• Mechanics’ Lien Laws• Construction Bonds on Public Projects• Prompt Pay Statutes• Limitations […]

Continue Reading

Facilitate More Productive Meetings

Published on March 28, 2007 by in NACM

0
Meeting

Credit professionals can gain valuable knowledge and information from well-run meetings whether they be industry trade groups, or just brain-storming sessions with other business professionals. In order to get maximum benefit from a meeting, certain care, planning and executing the meeting should be taken in order to reduce the chances of it degenerating into a […]

Continue Reading

0
Audit_books

Credit managers should view their credit decisions in the larger context of the overall U.S. and global economies. Economic trends may affect how generous or tight their credit decisions are. Credit and other business professionals must rely upon economic forecasts to determine what to expect from the economy weeks or months into the future. The […]

Continue Reading

The Aging Business Credit Workforce

Published on March 15, 2007 by in NACM

0
Aging_force

Recently, Federal Reserve Vice Chairman Donald Kohn testified before the U.S. Senate Special Committee on Aging. "The share of the adult population that is aged 62 and older, now at about 19%, is projected to rise to more than 22% by 2015," said Kohn. "The rising share of older individuals has important implications for the […]

Continue Reading

0
Target

The certification process required under the Sarbanes-Oxley Act of 2002 (SOX) has ramifications for credit departments, even though the act doesn’t specifically single out credit professionals. Scott Blakeley, Esq., of Blakeley and Blakeley LLP, pointed out that some public companies are requiring sub-certifications related to SOX that sometimes filter down to credit departments. CEOs and […]

Continue Reading

0
Communication

For credit professionals, danger could be lurking in a casual conversation at an after-meeting get-together at a local tavern, or it could be present in a remark made at an industry credit trade group. The danger comes in the form of engaging in a communication with a competitor that could be construed as a violation […]

Continue Reading

0
Economics

The seasonally adjusted Credit Manager’s Index (CMI) crept 0.6% lower in February. It was the sixth decline in seven months, and five of the Index’s 10 components fell. Much of the fall was driven by sharp decreases in the new credit applications component of all three indexes. “Indeed, without the slide in new credit applications, […]

Continue Reading

0
Facilitate

Facilitation Skills If you’ve ever sat through boring, unproductive meetings, you know that facilitation is an art! Learn how to manage and organize group activities and meetings to make the best use of time and resources while achieving the group’s desired outcome. You’ll gain valuable tips for how to run effective meetings, increase participation, handle […]

Continue Reading

0
Financial_explain

One of the important skills business credit professionals must master is how to understand financial statements. Another valuable skill is to know what types of financial indicators can be used to gain valuable insight about a company’s financial status as presented in its financial statements. Attendees of an NACM teleconference on Feb. 21 got an […]

Continue Reading

0
Fcib_1

Global economic trends and threats were the main topic of the FCIB New York International Roundtable Conference that took place on February 21, 2007. The event drew attendees from several states on the eastern half of the country and professionals from a diverse collection of industries including chemicals, foods, electronics, credit insurance, financial services and […]

Continue Reading

Antitrust Issues for the Credit Professional

Published on February 22, 2007 by in NACM

0
Antitrust_law

While the laws governing antitrust practices have been around decades, issues as to what constitutes a violation of these statutes still come up on a regular basis for business credit professionals. The Robinson Patman Act of 1936, The Clayton Act of 1914 and even the Sherman Antitrust Act of 1890 still beguile creditors today about […]

Continue Reading

How to Better Prepare Against Preferences

Published on February 21, 2007 by in NACM

0
Defend_company

Preferences can be a daunting challenge for creditors but Bruce Nathan, Esq., of Lowenstein Sandler PC of New York, presented information on how to better defend against them. The information was disseminated during an NACM teleconference Feb. 12, 2007 entitled, "Preferences: Defenses That Can Reduce Exposure and Case Law Update." Nathan, a private attorney and […]

Continue Reading

Spotting Fraudulent Financial Statements

Published on February 13, 2007 by in NACM

0
Fraud

Evaluating a company’s financial statements can help credit professionals determine the creditworthiness of current or potential customers. However, sometimes fraud is committed within the highest company levels to deliberately alter these financial statements. That is why credit professionals need to be better educated at spotting distorted financial information on a company’s financial statement. This was […]

Continue Reading

NACM Credit Manager’s Index January 2007

Published on February 9, 2007 by in NACM

0
East_coast

The seasonally adjusted Credit Manager’s Index (CMI) rose 2.5% from 54.7 in December to 57.2 in January, erasing all losses from the previous four months. All 10 of the combined index components rose, indicating economic expansion — none are currently below the 50 level. “The service sector led the way in January, rising 3.4%, while […]

Continue Reading

Reducing Your Exposure

Published on February 8, 2007 by in NACM

0
Exposure

When a creditor gets hit with a preference claim, there may be a number of thoughts that occur to the credit manager responsible for dealing with it. These could range from paralyzing terror, accompanied by blood-curdling screams, to moderate displeasure, accompanied by an exasperated sigh and a resignation to payment. While the former option might […]

Continue Reading

0
Construction

Credit managers of businesses, especially suppliers, involved in construction projects learned a lot of valuable advice from James D. Fullerton, Esq. about how to structure contracts and credit applications during a recent NACM teleconference. As an attorney and President of the law firm of Fullerton & Knowles, PC, licensed in Virginia, Maryland and the District […]

Continue Reading

B2B Credit Card Transactions Explained

Published on January 16, 2007 by in NACM

0

How credit card processing charges are levied and how a business can reduce their costs in processing credit card transactions were some of the topics discussed during a recent NACM teleconference. "The Evolution of Credit Cards in B2B Transactions," was the title of the session conducted by Robert Day, Fifth Third Bank Processing Solutions Officer […]

Continue Reading

Credit Card Use in Business Transactions

Published on January 8, 2007 by in NACM

0

While many of us use credit cards in our daily lives for purchases at grocery stores, gas stations and other consumer venues, a number of businesses have begun to use and accept credit cards for payment. Over the past several years, business credit card use has ballooned and a number of companies are making the […]

Continue Reading

0

The seasonally adjusted Credit Manager’s Index (CMI) fell for the fifth consecutive month in December, and now stands at its lowest level since April 2003. "The Index fell 0.5% as seven of the 10 components declined," said Dan North, Chief Economist with credit insurer Euler Hermes ACI. "Four of the components are now under the […]

Continue Reading

House Passes Ex-Im Extension

Published on December 28, 2006 by in NACM

0

The House of Representatives recently passed a bill authorizing the extension of the Export-Import (Ex-Im) Bank’s charter for another five years. It also provides for the restoration of a Small Business Division to operate within the bank. In a release, the House Small Business Committee said “the legislation also includes provisions… to give the restored […]

Continue Reading

0

Rather than a standard presentation, an NACM Teleconference held on December 7th took the form of a question-and-answer session with Lowenstein Sandler PC Partner Bruce Nathan, Esq. Nathan took both extemporaneous questions and ones that had been submitted earlier that dealt with bankruptcy and other issues pertaining to creditors’ rights. Nathan likened the format to […]

Continue Reading

Collecting On Your Delinquent Account

Published on December 22, 2006 by in NACM

0

“What we’re finding is much fewer of our customers that fail to pay… go running to the bankruptcy court,” said Scott Blakeley, Esq. in a recent NACM Teleconference titled “Collecting on Your Delinquent Account: Litigation Strategy for the Credit Professional.” Blakeley noted that after the October 17, 2005 passage of the Bankruptcy Abuse Prevention and […]

Continue Reading

Registered E-Mails Not Ready For Lien Law

Published on December 19, 2006 by in NACM

0

Electronic documents are becoming more widely used in business. Technology now allows for the legally binding electronic signatures on various documents. There is even technology available which allows e-mails to be sent and documented in such a way that they serve the same purpose as certified letters. However, such technology would not be suitable with […]

Continue Reading

0

NACM is pleased to announce that a national Scholarship Foundation has been established. Funds have been raised from generous donations from the NACM community, as well as from Silent Auctions and other special functions. These funds will afford many people the opportunity to continue investing in the future of our profession. NACM encourages members and […]

Continue Reading

How To Get Paid On DOD Contracts

Published on December 12, 2006 by in NACM

0

NACM’s Government Business Group (GBG) presented a teleconference aimed at helping credit professionals navigate the contract payment system of the Department of Defense (DOD). The teleconference, held December 6, was entitled, "Columbus Centralized Customer Service Directorate." The Columbus office of the Defense Finance and Accounting Service (DFAS) is the main center through which DOD contract […]

Continue Reading

Advice Offered On Selling Into Latin America

Published on December 11, 2006 by in NACM

0

Attendees of the successful FCIB Global Conference held in Coral Gables, FL, from Nov. 12-14, were able to acquire a lot of information and share in the knowledge of featured speakers and panelists. In one session at the conference entitled, “Analyzing Latin American Financial Statements – Evaluation and Interpretation,” useful information was provided for credit […]

Continue Reading

Credit Managers Index for November 2006

Published on December 6, 2006 by in NACM

0

The seasonally adjusted Credit Manager’s Index (CMI) fell for the fourth consecutive month in November. “While the decline was small at 0.1 percent, the CMI continues to indicate an economy slowly weakening under the weight of monetary tightening by the Fed and a decimated housing market,” noted Dan North, Chief Economist with credit Insurer Euler […]

Continue Reading

Book Sale from NACM Bookstore

Published on December 6, 2006 by in NACM

0

Here’s a great opportunity to purchase books for staff or associates and give them as thoughtful gifts. And now is the perfect time to purchase titles you’ve been wanting for your own library, too! Check out these great deals—and go to the online bookstore to view other titles available at reduced prices. Place your order […]

Continue Reading

0

Credit professionals face delinquent accounts on a regular basis. But before a company begins to take action in order to remedy the delinquent account, it’s important to know when to consider an account delinquent. Technically, a delinquent account is one that fails to pay by the agreed-on date. However, these terms may be flexible depending […]

Continue Reading

New Congress Set To Tackle Issues

Published on December 4, 2006 by in NACM

0

In a recent memo, NACM Washington Representative Jim Wise discussed the new Congress and what business professionals can expect to see in the coming term. Within the next month, it appears as though little will happen in Congress. “The lame duck session, which begins on December 5, will apparently be a very brief session,” said […]

Continue Reading

0

Bruce Nathan, Esq., Partner, Lowenstein Sandler PC, New York, NY, offered advice to credit professionals on how to better position themselves with customers who are facing financial insolvency. Nathan presented his valuable business credit insights during an NACM teleconference Nov. 29, entitled, “Dealing With A Troubled Company: No Need to Cry the Blues.” Nathan pointed […]

Continue Reading

0

Litigation Strategy for the Credit Professional Date: Monday, December 11, 2006 3:00 – 4:00pm eastern Cost: $59.95 per line Presenter: Scott Blakeley , Esq. Scott Blakeley will discuss the following items in dealing with a delinquent account: • When is an account "delinquent"?• What are the potential sources of collection, from shareholders, to promoters, to […]

Continue Reading

0

NACM is pleased to announce that a national Scholarship Foundation has been established. Funds have been raised from generous donations from the NACM community, as well as from Silent Auctions and other special functions. These funds will afford many people the opportunity to continue investing in the future of our profession. NACM encourages members and […]

Continue Reading

110th Congress May Be Beneficial To Business

Published on November 15, 2006 by in NACM

0

The Nov. 7 election swept the Democrats in power in the U.S. House of Representatives and, it appears, in the U.S. Senate. The business community has historically viewed Democrats with some trepidation regarding their business policies. However, Jim Wise, Managing Partner with PACE-Capstone Companies, which has represented NACM before the federal government for the last […]

Continue Reading

Collection Law Overview—How To Avoid Traps

Published on November 14, 2006 by in NACM

0

Two staff attorneys from two NACM affiliates teamed up to provide valuable information about important laws that regulate the collections process. D. Park Smith, Esq. of NACM Southwest and Scott Lee, Esq., CCE, of NACM Business Credit Services, conducted a free teleconference to NACM members on November 7.   The attorneys, although not offering specific […]

Continue Reading

0

Attendees of a presentation sponsored by the Credit Research Foundation (CRF) received a great deal of information about the value of performance measures including how they work, which ones work best and what a company stands to gain from effective measurement. CRF Vice President Lyle Wallis, CCE gave the presentation. Wallis noted that there are […]

Continue Reading

Spotting Financial Reporting Distortions

Published on November 10, 2006 by in NACM

0

Sometimes the picture presented by a company’s financial reports offers a skewed view of what’s actually going on. Attendees of the Oct. 30 NACM teleconference were given some information on common distortions—both legal and illegal—that are sometimes presented in financial reports to disguise the true financial picture of the company. Dubos J. Masson, CTP, Cert […]

Continue Reading

NACM Credit Manager’s Index October 2006

Published on November 2, 2006 by in NACM

0

The seasonally adjusted Credit Manager’s Index (CMI) fell 1.8% points in October, reflecting a widespread deterioration as eight of the 10 components fell. While all but one component remain above the 50% level indicating economic expansion, it was the third consecutive drop for the combined index. “In addition, the drop was led by a sharp […]

Continue Reading

0

Columbia, Maryland: November 1, 2006 — The seasonally adjusted Credit Manager’s Index (CMI) fell 1.8% points in October, reflecting a widespread deterioration as eight of the 10 components fell. While all but one component remain above the 50% level indicating economic expansion, it was the third consecutive drop for the combined index. “In addition, the […]

Continue Reading

Metrics Matter

Published on October 30, 2006 by in NACM

0

If you don’t measure it, you can’t improve it. That’s an old adage, one that is certainly true for our ever-changing profession. But have your measurements kept up with the changes in your role, or the challenges faced by your business? Sure, we all track the normal measurements having to do with DSO, percent current […]

Continue Reading

0

Do you feel like you have been to every seminar on every relevant topic that has been offered?Are you at a plateau in your career?Do you need a mental challenge?Do you need new contacts within your profession? It’s never too late to take your education and career to the next level! NACM’s Graduate School of […]

Continue Reading

Steps To Get Through Busy Days

Published on October 25, 2006 by in NACM

0

Credit professionals, like most other working people, have a difficult time balancing the demands of work and family. Those who attended NACM’s Time Management teleconference on Oct. 12 got an opportunity to explore ways to prioritize daily schedules so that the most important tasks get done first. Abby Marks-Beal, an expert in time management, presented […]

Continue Reading

0

Date: Monday,October 30, 2006 3:00 – 4:00pm eastern Cost: $59.95 per line This teleconference will discuss the basics of how financial accounting statements might not always be providing a full and accurate picture of a company’s financial health. The problems in analyzing financial statement range from legitimate adjustments within GAAP guidelines to more “creative accounting” […]

Continue Reading

NACM Teleconference: Old Laws, New Tools

Published on October 19, 2006 by in NACM

0

Date: Wednesday, October 25, 2006 3:00 – 4:00pm eastern Cost: $59.95 per line Credit executives deal with specific legal issues that impact them on a day-to-day basis. This program has been designed to cover some of those more prevalent legal issues, both old and new. This session will also refresh the credit executive on many […]

Continue Reading

Tips Given For Managing Letters Of Credit

Published on October 17, 2006 by in NACM

0

Continue Reading

0

Before recessing for the mid-term elections, Congress enacted the “Credit Rating Agency Reform Act Of 2006,” S. 3850. The law is the culmination of reform efforts over the regulation of credit rating agencies. Sen. Richard C. Shelby, (R-AL), introduced the bill September 6th, and less than a month later it was enacted. President George Bush […]

Continue Reading

0

One of the keys to your success as a manager is having the right people on your team to support you. A group of talented and motivated individuals can mean the difference between achieving expectations and exceeding them. As a result, it’s critical to invest time and effort into retaining your best employees. Fred Getz, […]

Continue Reading

0

Is your to-do list longer than your life? If so, know you are not alone! The biggest challenge we face in getting these things done is FIRST knowing what is really important to us and THEN having the ability to organize and prioritize our activities. This teleconference was developed to help busy professionals rise to […]

Continue Reading

Credit Managers Index for September 2006

Published on October 3, 2006 by in NACM

0

The seasonally adjusted Credit Manager’s Index (CMI) took another small step down in September. The Index fell from 57.3 to 57.1 as six of the 10 components for the combined sectors fell. “However, all 10 components still remain above 50, indicating economic expansion,” said Dan North, Chief Economist with credit insurer Euler Hermes ACI. “The […]

Continue Reading

0

Exporters who utilize letters of credit (LCs) for their overseas sales should be aware of changes in the regulations that pertain to them. Those that attended a teleconference September 29, hosted by FCIB, got the opportunity to learn of some of the major changes likely to take place in how letters of credit are processed. […]

Continue Reading

Business Check Conversions Now Allowed

Published on September 29, 2006 by in NACM

0

Rudet Fountain, National Sales Manager for American Check Management (ACM) recently informed NACM of recent changes in the management of electronic transfer of funds that allows check conversions for business checks. These changes were implemented on September 15 by NACHA, known as The Electronics Payment Association. NACHA, according to its website, is a non-profit association […]

Continue Reading

0

Those who attended an NACM teleconference September 20th learned some valuable information on how to steer clear of possible violations of anti-trust laws. The teleconference entitled, "Navigating the Antitrust Rules: Myths To Dispel And Realities To Understand," was presented by Wanda Borges, Esq., of Borges and Associates, LLC, who is an advisor to NACM on […]

Continue Reading