Local Member Making a National Difference

Jul 11, 2017

Posted by & filed under Credit.

While attending Credit Congress last month it was exciting to learn our local member, Sheryl A. Rasmusson, CCE was voted as the 2018 Chair-Elect to the NACM National Board of Directors. What an honor for Sheryl to be voted to serve the position in 2018 with the intent for her to be the National Board Chair in 2019. One can’t help but be motivated when spending some time listening to Sheryl’s vision and strong values for NACM. I am honored to share a little of her vision for NACM and a bit about her employer and strong supporter, Kilgore Tec Products.

1.      What made you want to serve on the NACM National Board of Directors?

After serving on the local board of directors I wanted to know all the details of the organization and how NACM National worked with NACM Affiliates.… Read the rest

Company Changes Require Strong Relationships

Jul 11, 2017

Posted by & filed under Business Credit Journal, Leadership.

Business relationships are important in any department, but perhaps more so for credit professionals, who come into contact with just about every other team in a company. Those relationships may become stressed when changes occur in a company, such as when a merger and acquisition (M&A) or joint venture (JV) is pursued. It is up to the credit professional to determine if his or her business relationships, and even career, will become strained … or strengthened.

Mergers, acquisitions, and joint ventures present a new set of challenges for the credit professional. The lead organization will likely be assigned the credit and collections responsibilities of the new partner company. This will require the credit team to employ its best negotiating skills, as well as patience and persistence.… Read the rest

Economic Outlook 2017

May 9, 2017

Posted by & filed under Business Credit Journal, Economics.

By Dr. Chris Kuehl, PhD
Managing Director – Armada Corporate Intelligence

Thus it began – at least formally. What kind of economic growth does the Trump administration seek and how has that changed over that first 100 days? What kind of shape is the economy as he has settled in – as compared to what other Presidents before him faced? What are the chances his goals will be met and what are the factors that will make accomplishing these goals tough and perhaps even impossible? In the most general terms he inherits an economy that has clearly started to recover from the grinding recession that started in 2008 and it is in far better shape than when Obama took control.… Read the rest

President’s Message – Scholarships Available for Northwest Members

May 16, 2017

Posted by & filed under Credit.

The NACM Northwest Foundation Board is doing an outstanding job at creating support for credit professionals through scholarship opportunities for NACM members. Why not take part in upcoming educational opportunities? The Foundation has funds available to assist you financially.

The Foundation program opens its scholarship application dates twice a year for credit conferences. All other scholarships for educational classes are open year-round. Here’s the application to apply!

The Western Region Credit Conference (WRCC) this fall is October 12 – 14th in San Diego, CA, and looks to be an outstanding program. You will find initial details on the conference posted in this blog. The open dates for the 2017 WRCC applications are June 15 – July 15, 2017.… Read the rest

The Chapter 11 Vendor Game Changer: Section 503(b)(9) Claims

May 9, 2017

Posted by & filed under Bankruptcy, Business Credit Journal, Credit, David Conaway.

Recent Article on the Nuts and Bolts of Section 503(b)(9) Claims in Chapter 11 Cases.

David Conaway, Partner – Shumaker, Loop & Kendrick, LLP

The so-called 20-day administrative priority claim (set forth in Section 503(b)(9) of the Bankruptcy Code) is perhaps the best remedy available to vendor creditors in Chapter 11 cases.

In 2005, Congress amended the U.S. Bankruptcy Code and added Chapter 15 (cross-border insolvency), and the game-changing Section 503(b)(9) claim, which functionally eclipsed the reclamation claim. At its essence, Section 503(b)(9) claims allow vendors to convert a portion of their pre-petition claims (arising from goods delivered within 20 days prior to filing) from near valueless general unsecured claims to administrative priority claims, which are generally paid in Chapter 11 cases.… Read the rest

Managing Responsibilities in a High-Performance World

May 10, 2017

Posted by & filed under Business Credit Journal.

Whether managing 30 accounts or 1,000, credit professionals can often feel that there are just not enough hours in the day to get everything done. Setting goals to maintain performance is nothing new for any profession, but given the demanding pace, those in credit must establish realistic goals to prevent falling behind from setting unrealistic ones.
The following objectives are important to keep in mind to ensure that the credit profession continues to add exceptional value to the business world.

Set Priorities

Credit professionals can plan their work every day, but the business world can often move in the opposite direction, at odds with strategic planning. Unforeseen and urgent credit opportunities often dictate what requires immediate attention, but tools are available to assist in accomplishing daily tasks and assigning priorities.… Read the rest

Evaluating Commodities, Business Cycles Vital to Good Credit Decisions

May 10, 2017

Posted by & filed under Business Credit Journal.

Credit professionals in industries that involve commodities should keep a close eye on a variety of factors—from the cost per bushel of corn to the value of the U.S. dollar to worldwide weather patterns—in order to secure themselves against the constantly fluctuating nature of these products.

This year, for instance, thanks to lower prices for many commodities, including corn and soy beans, Kevin Stinner, CCE, CCRA, credit manager with Crop Production Services, of Flora, IL, said he expects to see a sharp rise in bankruptcies among his customers. And as loans from traditional banks have not been as plentiful as they once were, more farmers will likely be asking for lines of credit

At about $3.50 per bushel in early 2017, corn is down roughly 50% of what it was three or four years ago he said.… Read the rest