Nov 21, 2019

Posted by & filed under Credit.

People make a total of about 35,000 decisions—in a single day. The process of decision-making has become a more natural, passive activity over time, with decisions like what socks to wear and how long to microwave leftovers barely fazing people as decisions. Decisions with grander consequences weigh more on individuals, from what car best fits a specific set of needs to how much credit a customer should be extended.

With so many decisions in one day, each choice begins to lay heavy on a person. Without realizing it, the overwhelming nature of these decisions contribute to a phenomenon known as “decision fatigue.” The breakout session “Understanding Decision Fatigue (and What to Do About It)” at the 2019 Western Credit Conference in Portland, Oregon, tackled this issue, breaking down what decision fatigue is, how it affects creditors in the workplace and how best to overcome it.… Read the rest

Nov 21, 2019

Posted by & filed under Credit.

The raffle drawing to win a trip to Mexico has come to an end. The drew the winner at the Western Region Conference and the winner did not have to be present to win. We had over 80 peopled entries into the raffle and the winner was Rick Weisman from Graybar in Portland, Oregon.

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Nov 21, 2019

Posted by & filed under Credit.

The foundation has had an amazing year fund-raising for scholarships. In September we had the 2019 NACM Commercial Services Golf scramble held at the beautiful Coeur d’ Alene Resort Golf Course in Idaho. At this event between raffles, baskets, sponsors we were able to raise $3528 for scholarships. This is a yearly event so look for details on the next one coming in 2020.

Just last month we had the Western Credit Conference and we had an amazing time. As you may have seen we have been raffling off a trip to Mexico this past year and pulled the winner at the conference. We also had a collection of raffle baskets. In addition, the hotel gave us a commission on each hotel room and signature drink purchased at the hotel.… Read the rest

Nov 21, 2019

Posted by & filed under Credit.

Knowledge is of the highest priority in construction credit. Gathering information, knowing where a creditor stands within the project’s supply chain and how to get paid are only some of the important aspects of having a successful relationship with customers, a customer’s customer and so on. The information needed depends on a number of factors, including but not limited to where a creditor stands within the supply chain and the type of project. But, one of the biggest questions isn’t knowing what information to have, it’s how to obtain it and use it as an advantage when it comes time for a creditor to be paid.

The best time for a construction creditor to gather information about a project is at the beginning, whether it’s setting up a new customer on a first-time order or a years-long customer making an order on the second of the month.… Read the rest

Sep 19, 2019

Posted by & filed under Business Credit Journal, Credit.

Written By: Jason B. Binford, Partner, Foley & Lardner LLP

Over the course of the credit manager’s career, they will likely have opportunities to serve as a member of an official committee of unsecured creditors in a bankruptcy case. Any creditor representative presented with such an opportunity should carefully weigh the pros and cons. Committees are important parties in interest in Chapter 11 bankruptcies, and members of a committee are given a front-row opportunity to steer the course of the case. In addition, costs directly related to the committee – including paying counsel retained by the committee – are borne by the bankruptcy estate. However, committee participation may give rise to complicated conflicts of interest, requires an understanding of fiduciary duties, and can involve a fairly significant time commitment.… Read the rest

Sep 19, 2019

Posted by & filed under President's Message.

How quickly it turns to Fall and with the change in weather comes a full calendar of events for credit professionals. I trust you’ve seen the invitations to the Western Credit Conference coming to Portland, October 23-25. These opportunities to invest in yourself and your career shouldn’t be passed up. The planned programs are applicable to every credit position. Professional development is vital to your success! For those members needing CEU points to keep your certifications current, this is your opportunity. We hope you’ll consider joining others at the conference. Registrations are plentiful and it’s going to be a full house.

NACM CS has a full Accreditation program on the calendar for 2020. Now is the time to plan ahead and get your approvals to attend a class working toward your credit designation.… Read the rest