Jamilex Gotay, editorial associate

Associations, like the National Association of Credit Management (NACM), play a pivotal role in fostering professional development by serving as hubs for networking, knowledge exchange, and collective growth. In the modern landscape, the role of association members has evolved significantly. Active involvement, from volunteering on committees to spearheading initiatives, not only benefits a professional’s own growth but also drives innovation and adaptability within the association itself. As a result, associations and their dynamic members have become powerful engines of professional development, capable of shaping industries and catalyzing positive change.

Educational Opportunities and Career Advancement

NACM’s Knowledge Center offers a vast array of educational opportunities that can make credit professionals an expert in their field.… Read the rest

Executive Summary
U.S. Economic and Regulatory Highlights

• Inflation eased in October to 3.2%, down from 3.7% in both September and August. The decrease was driven across most sectors of the economy:
  – Rent inflation declined to 6.7% in October, the seventh consecutive monthly decline. (Source: Bureau of Labor Statistics)
  – Food inflation declined to 3.3%, the lowest level since June 2021. (Source: Bureau of Labor Statistics)
  – October energy prices were 4.5% below a year ago. (Source: Bureau of Labor Statistics)
• Core inflation, which excludes food and energy, declined to 4.0% in October, the lowest since September 2021. (Source: Bureau of Labor Statistics)
• Producer price inflation was 1.3% in October, easing from 2.2% in September. (Source: Bureau of Labor Statistics)
• October retail sales decreased 0.1% from September, the first monthly decline since March.

Written By: Curtis A. Welch, Sussman Shank LLP

In May 2001, the Washington legislature amended RCW 18.27.040 by increasing the registration bond amount for general contractors to $12,000. Laws of 2001, ch. 159, sec. 3. That bond amount has remained the same since that time, as has the $6,000 bond amount for specialty contractors.
As many practitioners have experienced, those amounts have not been nearly enough to compensate claimants for their losses.

The Washington legislature addressed this matter this past legislative session, passing HB 1534, which was signed into law by Governor Inslee on May 1, 2023. Among other amendments, the new law amends RCW 18.27.040(1) by increasing the bond amount for general contractors to $30,000 and increasing the bond amount for specialty contractors to $15,000.… Read the rest

Jamilex Gotay, editorial associate, NACM

Thought leaders are the catalysts for change, influencing the trajectory of projects and initiatives in the workplace. The journey toward becoming a thought leader isn’t just about personal development; it’s a transformative force that drives success, enriches workplace culture and propels organizations toward new heights of achievement.

By joining one or several of NACM’s Thought Leadership Groups, credit professionals can learn to have a greater impact on their companies and give input on strategic business decisions. These groups can lead to lifelong mentorship opportunities to establish yourself or emerge as a credit leader. NACM’s monthly Thought Leadership Groups cover the following topics:
Performance Metrics: drive confident, data-backed credit decisions and measure performance.… Read the rest

Kendall Payton, editorial associate, NACM

Business leaders should invest in training for employees of all levels in all departments. For the quickly changing profession of trade credit management, proper training is even more crucial. Designations allow new credit professionals to establish themselves as credible in the industry while helping experienced credit managers advance their careers to the next level.

Through NACM’s Professional Certification Program, credit managers can earn a combination of any six certifications—CBA, CCRA, CBF, CCE, CICP and ICCE. But what exactly is the value behind those letters?

Designations signify a level of intelligence and integrity, said Scott Chase, CCE, CICP, global director of credit at Gibson Brands, Inc.… Read the rest

Congratulations to these members on their new CBA & CBF designations. Are you interested in education and getting a designation? Check out this guide on the certification program. If you have any questions, contact Shawna Axness.

CBA:
• Billy Rose, CBA – Zarsky Lumber Company LLC
• Marcela Rolon, CBA – RCP Block & Brick Inc
• Justin Lee, CBA – Canfor Wood Products Marketing Ltd
• Madisyn Beyer, CBA – Helena Agri-Enterprises LLC

CCE:
• Alex McEntee, CCE – Pendleton Woolen Mills Inc