Meet the Team – Get to Know Part of our Fun Staff

May 21, 2020

Posted by & filed under Credit.

Sherri Hooker – Industry Group &
Data Contribution Coordinator
Portland, Oregon

Hello all, my name is Sherri Hooker– I was born and raised in Michigan and ended up in a long-distance relationship, moved to Oregon and married the love of my life 28 years ago. But let me tell you, when I broke the news to my parents that I decided I was moving to Oregon to become a Hooker, I think I permanently traumatized my family with that news. Lol All kidding aside, Oregon life has been amazing, and together, my husband and I raised 3 children as well as enjoying 4 adorable grandchildren.

Prior to NACM I worked at a local bank for almost 20 years and was part of a large company layoff which lead me to NACM which I now call home.… Read the rest

A Seller’s Guide to Letters of Credit

May 21, 2020

Posted by & filed under Credit.

If there’s one thing credit managers learn quickly after agreeing to extend credit, it’s how their department is going to get paid. Payment options from least to most risky include cash in advance, letter of credit (LC), documentary collection and open account. Although LCs hold less risk, American Export Training Institute President Chip Thomas, CICP, said the level of risk increases when creditors don’t know the process.

Over the course of his 22-year banking career and 43 years in international trade, Thomas said he’s seen the trials and tribulations credit managers encounter with LCs in addition to their numerous benefits. Thomas discussed what every exporter needs to know when using LCs during an FCIB webinar, where he described them as “the granddaddy of all payment methods.”… Read the rest

Experian COVID-19 U.S. Business Risk Index

May 21, 2020

Posted by & filed under COVID-19, Credit, Experian.

The COVID-19 U.S. Business Risk Index was developed by Experian Business Information Services to help businesses better understand the impact COVID-19 may have on their commercial operation based on several key factors. This methodology combines business risk, anticipated impact on business industries and real-time COVID-19 case data to help businesses better simulate various impact scenarios down to the state level to help develop enterprise strategies.

http://go.experian.com/covid-business-risk-index

… Read the rest

COVID-19 Legislative Update & Collection Provisions to Watch for Trade Creditors!

Apr 16, 2020

Posted by & filed under Collections, Coronavirus, Credit.

NACMs are partnering with our national office to watch for legislative changes related to COVID-19. NACM Commercial Services is also monitoring daily new State mandates coming out relating to creditor and collection efforts. Please be aware that certain states have restricted collection activities during the national emergency and while most are pertaining to consumer collection efforts, there are a couple of states who are restricting commercial collection efforts for debt collectors. If a member’s recently assigned claims submitted to NACM CS are affected by these mandates, any collection activity (including 10-day Demand Service) will begin upon expiration of the applicable restriction(s). We assure you we’re following this closely and will continue to enforce all collection efforts as appropriately guided by these mandates.… Read the rest

Oregon Update April 14, 2020 & Federal CARES Act

Apr 14, 2020

Posted by & filed under Oregon, Rainmakers Government Strategies.

At link and attached is the Legislative Policy and Research Office summary of the federal CARES Act.

Unemployment

Senator Boquist sent me this unemployment by sector chart which I found interesting:

Main Street America 

MSA conducted an online survey last week to assess the impact of COVID-19. More than 5,850 small businesses responded to the survey, with more than 40 percent of those operating in communities with less than 10,000 residents. Some summary findings:

  • Of the nation’s approximately 30 million small businesses, nearly 7.5 million small businesses may be at risk of closing permanently over the coming five months, and 3.5 million are at risk of closure in the next two months.
  • Approximately 35.7 million Americans employed by small businesses appear to be at risk of unemployment.
… Read the rest

Oregon Covid-19 Update

Apr 13, 2020

Posted by & filed under Rainmakers Government Strategies.

Today Situation Status Report is attached…

Though the overall numbers are increasing, our ratio of positive results still remains right around 5%.  That’s much lower than the national average (still over 19%).

I thought this was an interesting new piece:

Figure 1. Reported signs and symptoms for all confirmed COVID‐ 19 cases (n=1099)

Rapid testing is happening…

Governor Brown announced distribution of first COVID-19 rapid testing instruments in Rural Oregon. The first hospitals to receive the COVID-19 rapid testing instruments are Curry General Hospital in Curry County, Pioneer Memorial Hospital in Morrow County, and Lake District Hospital in Lake County. The point-of-care COVID-19 testing machines are capable of returning positive or negative test results in minutes.… Read the rest

Amazon Delivers on COVID Demand, but Issues Linger

Mar 26, 2020

Posted by & filed under Credit.

www.fdreports.com – www.creditntell.com

As part of our ongoing coverage of COVID-19, the following Special Analysis examines how the coronavirus has affected Amazon, its sellers, and the U.S. consumer.

  • Prioritization of essentials and medical merchandise is dragging deliveries of other more discretionary Prime orders by as much as a month.
  • The businesses of third party sellers are at risk as Amazon halts shipments of their product to its fulfillment centers until April 5th (unless it’s an essential product).
  • Origination of coronavirus in China already weighed on inventory levels and is leading to product shortages, even as Chinese production begins to return.
  • Mass retailers and grocers are better positioned to serve customers’ immediate needs, highlighting the benefit of a brick and mortar strategy.
… Read the rest