Written By: Scott Blakeley, Esq.

As inflation reaches a 40-year high, the Federal Reserve has made combatting inflation a top priority. Multiple interest rate increases are intended to tame inflation. However, companies of all sizes are facing financial challenges as the result of inflation and the attendant high-interest rates, including inflated costs for raw material and increased borrowing costs. The Fed estimates the interest rate will rise at least another percentage or more before they evaluate the impact of the hikes.

In light of inflation and increased interest rates, customers, whether national accounts to small and mid-sized, are pressing credit teams for trade concessions, whether in the form of cash givebacks, terms pushback and change in payment form.… Read the rest

The fall season has been packed with member interactions, activities, festivities, and planning! What a great experience getting back out with our member companies, visiting with credit individuals, and enjoying the personal interaction. I’ve missed the in-person opportunities and am inspired by getting to work around those who bring a passion for occupational excellence to their chosen profession. You all are Rock Stars! Associations are the cornerstone for personal and professional growth, and naturally, a credit professional looks to NACM Commercial Services as the industry’s leading expert in all things credit related. Knowledge is the key to a brighter future and NACM CS has provided a magnitude of opportunities to sharpen credit skills in 2022. I hope you’ve taken advantage of some of the offerings this year.… Read the rest

Jamilex Gotay, editorial associate, NACM National

As inflation continues to wreak havoc on the global economy, the labor market is showing signs of cooling. According to the latest Job Openings and Labor Turnover Survey (JOLTS), the count of job openings plummeted by 1.1 million vacancies in August, the sharpest drop since 2020. The unemployment rate fell 3.5% in September, hitting a 50-year low, according to Wells Fargo.

“The JOLTS plunge will come as welcome news to the FOMC,” per Wells Fargo. “Fed Chair Powell has frequently cited the high number of openings relative to the number of unemployed workers as indicative of a labor market that is too tight. August’s plunge in openings is a sign that tighter monetary policy is starting to slow hiring, and possibly the inflation pressures stemming from rapid wage growth.… Read the rest

In October, NACM CS celebrated a robust and prosperous relationship with Experian while attending the annual Experian Partner Advisory Council meeting. Our expertise in credit solutions was highlighted among those who attended. We collaborated on future Experian initiatives, heard from industry experts, and provided insights in the markets we serve. Experian has been a good partner to NACM CS members, and we look forward to sharing our expertise with all of you in the coming year.

CBA
Kim Jones, CBA – CECO Inc.

CBF
Natalie Gondry, CBF – Ferguson Enterprises LLC
Jessica Howard, CBF – with Peterson CAT
Blayke Johnson, CBF – Helena Agri-Enterprises LLC

The Western Credit Conference in San Diego was a long time coming after our original plans in 2020 had to be cancelled. Thank you to all the sponsor and members for attending. We had people attend from all over CA, OR, MT, CO, WA, and UT. We had the best time hanging out with some fun, sun, sand, and of course education.

Next years conference will be in Salt Lake City, Utah. Look forward for more information coming on that in 2023.… Read the rest

The NACM Commercial Services Foundation is an organization promoting educational resources to the credit industry. Fundraisers such as this tournament allow us to offer educational scholarships to employees within your company and others looking for business credit education. We appreciate all our sponsors of this event and those who come out and Golf. It is always a beautiful location and time at the The Coeur d’Alene Resort Golf Course.