It's Getting Much Harder to Receive
Finance departments are feeling a sharp credit pinch as more customers put off paying their bills.
Last month, former IBM and Chrysler Corp. finance chief Jerry York warned CFOs to watch their receivables "like a hawk."
His advice at this year's CFO Rising conference accentuated his dire prediction that the U.S. economy is entering a long and dark recession. "In a contracting economy, receivables become a concern," he said.
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