In the last ten days, various committees of the Washington State Senate have been considering Senate Bill 6482 which seeks to modify current lien law.

The bill has been moved out of the Rules Committee aiming for an ultimate vote by the Washington State Senate. It is clear that none of the business association testimony was heeded. None of the proposed changes are acceptable for the commercial credit profession.

A summary of the proposed legislation can be found here.

NACM was in Olympia again on Thursday, February 11, 2016 and met with the prime sponsor of the bill, Sen. Mike Hewitt of Walla Walla and his staff attorney. The bottom-line is that his interest is in “protecting consumers.” … Read the rest

Written by: Laurie R. Hager, Sussman Shank LLP
Republished from Sussman Shank’s newsletter.

This article is based on a scenario that I encounter as a litigator all too often. “You,” for purposes of this article, have entered into a long-term contract with Company, Inc., an Oregon corporation. The contract may be a credit agreement, a supply agreement, a commercial lease agreement, or another agreement under which Company, Inc. has various ongoing obligations.

At some point during the term of the contract, the Oregon Secretary of State administratively dissolves Company, Inc. for failure to renew when required, or Company, Inc. dissolves itself.

Immediately on the dissolution, Company, Inc. is legally authorized to wind up its affairs and liquidate its assets.… Read the rest

NACM Oregon and NACM Inland Northwest will merge this week! And we’re changing the company name to NACM Northwest! The Associations received the approval of the Boards and the membership over the last two months. We plan to provide the same first-rate products, services, and exceptional customer service. Please talk with your Account Executive or call me if you’d like more information.

Member Events & Education – Please take a look at the calendar published in this edition. We will offer the 10-week Business Credit Principles class, beginning in April. We also will offer the Financial Analysis class this Fall. Please call Shawna Kelly (917-230-1202) with any questions. We hope you’ll join us!

Mark your calendar for the 2016 Credit Congress, which will be held in Las Vegas, June 12-16, 2016.… Read the rest

No matter the industry, a company’s culture is vital to its image and perhaps more importantly, its survival.  Upper managers and department managers alike must constantly work hard to create an atmosphere that makes people never want to go on another job interview, or perhaps, in extreme cases, get a tattoo of the company logo on their body. Below are some timeless approaches to creating a business culture that “rocks,” as author and past Credit Congress keynote speaker, Jim Knight, put it.

Celebrate heritage, but focus on culture—today’s behaviors

A company’s culture shapes so much of their performance now and in the future. However, it is critical to focus on today’s behaviors, not yesterday’s habits.

Be like U2—everyone singing off the same sheet of music

Staff at every level of a company or department—no matter if they are the president or maintenance staff—needs to have a shared mindset.… Read the rest

Certainly, the primary goal in any business endeavor is to get customers to increase their orders. But this increase can also be a warning sign and another technique for spotting business credit fraud. In most credit fraud situations, the operator ultimately wants to order as much as possible. The window of opportunity for heavy ordering is often just a few months. Thus, there comes a time in almost every credit fraud when ordering increases drastically. It is simply greed. If they’re going to take the business down, they can’t resist doing it on a big scale. The results are orders that are out of proportion to the size of the business.

Again, like all fraud indicators, a credit analyst can only make use of the indicator in the context of other factors.… Read the rest

Last chance to send in your NACM National Honors and Awards!
Please submit nominations through NACM Oregon. For questions and submissions please contact Brett Hanft, CBA: 503-520-5451 or hanft@lumber.com… Read the rest