CMA Daily News

Collection Reflection - Poem

I think that I will never know,
What makes these customers
pay so slow
The salesman said
“Their credit’s great,”
We rush the order and begin to wait,
The due date comes and then It goes
That’s when we hear
“the Tale of Woes.”
The checkbook’s lost, the boss is ill,
Our dog Betsy, ate your bill
‘Our bookkeeper just got out of jail,
we used your check
to make the bail”.
“we had a fire and then a flood.”
“We’ll need a P.O.D.
signed in blood”
Next time I hear,
“Oh they’re as good as gold”
I’ll quickly put them on
CREDIT HOLD!

Contributed by Judy Bedner, Credit Manager, Western Nonwovens, Inc.

Managing Credit for Profitability

Nanette Rodarte, Credit Manager with Pacific Earth Resources (Pacific Sod) has been interviewed and published in the Jan/Fed 2007 issue of TPI Turf News.

Pacific Sod has been a member of CMA for many years, and Nanette regulary attends the Western States Landscapers and Nursery Group meetings.

Click here to download Nanettes' advice on Managing Credit For Profitability.

"Years ago a very smart lady, Beth Rogers, told me, 'I had to give the customer the opportunity to go bad', when extending credit and I have never forgotten those words" Nanette Rodarte

Congratulations to Nanette for implementing a successful operation at Pacific Earth Resources and for sharing your credit secrets with us.

CMA Members' Yellow/Red Sales Idea Published

Louise McCracken from Foxhollow was the subject of the published Case Study in "What's Working in Credit and Collections" January Issue.

Here is her message to Cheryl Hammond and a link to the published Case Study which is invaluable to all members.

Congratulations Louise, CMA is proud to have you as a member!

"Hi Cheryl…

        Thought you would like to see this.  It is related to credit and collections.  Probably something you can post on the CMA web site or mention it in a newsletter or something like that…

        I filled out a questionnaire from a monthly publication we subscribe to called “What’s working in Credit & Collections.”  One of the editors responded and conducted an interview in relation to the monthly yellow/red alert schedule I distribute every month.  This was before the Holidays and I forgot all about it.

        Received the January issue of the publication yesterday and found myself published.  Copy of the article is attached.  Does that mean I am entitled to bragging rights?  LOL just kidding.  I am so jazzed, had to share the information.

        Is it possible to post this article on the web site so the Sales Force has an opportunity to gain some insight and perspective with the “nuts and bolts” in Accounts Receivable?  Please advise.

Kindest Regards,

Louise E. McCracken
Foxhollow
Sr. Accounts Receivable Specialist
Redwood City, California, USA"

In The (Red): The Business Bankruptcy Blog

From: J. Michael Kelly
Cooley Godward Kronish LLP

I wanted to let you know that my partner, Bob Eisenbach, launched a new blog a few months ago called In The (Red): The Business Bankruptcy Blog, that might be of interest to CMA members and others. The blog, found at www.businessbankruptcyblog.com, is written as a way for credit managers, CFOs, in-house counsel, and others to stay informed about business bankruptcy issues and evelopments.

Note from CMA: We have taken a Look at In The (Red) - and there is very valuable information for CMA Members in there. Click through and take a look.

Demetria is "Back on Track" after the Conference

Email from Demetria Tolefree from Chronicle Books. Demetria won a scholarship to the 19th Annual NACM Western Region Credit Conference.

"Thank you so much for this opportunity, it was an absolute a great time. I enjoyed the variety of classes offered and I felt that I was able to choose what was best for me. This is a wonderful event and it did inspire me to do some alternative thinking in the way I can interact in future credit conferences. Just as I'd imagined, I'm back on track!"