Chair Jeff Butterfield has called for the 2020 NACM Commercial Services Foundation Annual Meeting to be held on Wednesday, June 24, 2020 at 5:30 p.m. via Zoom. All lifetime individual, lifetime corporate, and current annual members are invited to attend. We also welcome and encourage anyone interested in the operations and purpose of the foundation to attend and get involved.
During 2019, the NACM Commercial Services Foundation awarded over $17,000 in scholarships and certification support. We look forward to an equally successful 2020!
At the Annual Meeting, reports regarding the financial condition of the foundation, results of 2019 operations, scholarship reports, election of board members, and the election of officers will occur.
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
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
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.
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
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.
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
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