Set Your Sights on UALITY

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August

Baker-Hamilton Div.. California Hardware Co. - Aug 17. nrerchandise show, The Showplace, San Francisco.

Humboldt Hoo-Hoo Club - Aug. 22, golf tournanrent' place to be announced.

Caiifornia Hardware Clo. - Aug. 24, show, Convention Center, Pasadena. Ca.

Salt Lake Hardware Co. - Aug. 24-25, show. Salt Palace. Salt Lake City, Ut.

September

Yakima Hardware Co. - Sept 7, annual fall dealer market, Yakima Convention Center. Yakima. Wa.

International Hardware Trades Fair - Sept. 7-12, Olympia Hall, London, England.

Forest Products Research Society - Sept. 9-11, national conference, Fairmont Hotel, New Orleans, La.

International Order of Hoo'Hoo - Sept. 10-14, annual convention, Colony Square Hotel, Atlanta, Ga.

Phoenix Hoo-Hoo - Sept. 12-13, annual club golf tournament, Pinetop, Az.

Western Wood Products Assn. - Sept. l3-16' lall nleeting, Registry Resort, Scottsdale, Az.

(--alifornia Retail Hardware Association - Sept. l4-16, managemenl conference, Doubletree Inn, Monterey. Ca.

Mountain States Lumber Dealers Assn. - Sept. l4-17' annual convention. Snowmass. Co.

California Building Material Dealers Assn. - Sept. l927. Rio convention. Rio Sheraton Hotel, Rio de Janeiro' Brazil.

Dubs Ltd. - Sept. 19, Redwood Empire Lumbermen's Invitational, Santa Rosa Golf and Country Club, Santa Rosa, Ca.

Townley Hardware Co. and Denver Sentry -WholesalerSept: 20-21, annual dealer market, Currigan Hall, Denver, Co.

Jensen-Byrd Co. - Sept. 2l-22, fall merchandise market' company showrooms, Spokane, Wa.

Los Angetis Hoo-Hoo Club - Sept 26, installation of officers, place to be announced.

Palmer (1. Lewis Co. - Sept. 28, 8th annual customer product buying show, Distribution Center Warehouse. Auburn. Wa.

Ceramic Tile Distributors of America - Sept. 28-Oct. 1' second annual convention, Century Plaza Hotel, Los Angeles, Ca.

October

Lumber Association of Southern CaliforniaOct. | ' Seconcl Growth dinner nreeting, Hyatt House Hotel, City of Commerce, Ca.

Ace Hardware Corp.Oct. I l-14, fall convention and exhibit, Currigan Hall, Denver, Co.

National Hardware ConventionOct. l2-15, Caesars Palace, Las Vegas, Nv.

American Plywood AssociationOct. l3-14' fall industry meeting, Disney World, Orlando. Fl.

Humboldf Hoo-Hoo ClubOct. 17, election night' place to be announced.

Manager's Recognition ConferenceOct. 2l-22' San Luis Bay Inn, Avila Beach, Ca.

Hardwood Plywood Manufacturers AssociationOct. 2224, annual fall convention, The Pointe, Phoenix, Az. Hoo-Hoo-Ette Club No. 8Oct. 25, fall fashion show, Pleasanton Hotel, Pleasanton, Ca.

Accts. Receivable & Recession Survival

Staying on top of accounts receivable is the most implrtant step a businessman can take to stay liquid and thus minimiz_e.problems caused by recession, advises Selwin E. Price, Alexander Grant-& Co. certihed oublic accounting firm.

'-'The key to surviving in a recession is preserving cTh," he says. "Although a company cm and shouti take every step possible, such as controlling inventories. cutting overhead, defening cash payments, ind maximizing.tax advantages, collecting on accounts receivable ls th€. most important of all of these steps. Companies should monitor accounts receivable reeularly.

The longer you wait on accounts reciivabie, the less vou stand to collect, he says. Statistics show that for every dolfar that's 30 days past due, only 97Q is collected; 9b days past due, 9Og; t20 aays, 8Ol; six monrhs, 67Q; one year,45Q; two years, 23Q; and three years, l2l. . Price gives these tips for.speeding up billings and keeprng accounts recetvable under control:

(l) Process your high-dollar invoices first, so you'll stand to collect the largest amounts of money at the earliest possible moment. Then go on to your smaller accounts.

(2) Bill for each shipment you make, rather than wait for another job or the end of the month to consolidate all of .your shipments. Billing for each shipment may add to bookkeeping costs, but these are less than the cost of money currently.

(3) If you are working on a long-term project, ask for a deposit or progress billing as you go along so you'll have a continuing stream of money coming in instead of waiting for a lump-sum payment.

(4) Time your billing to correspond with your customer's payment dates so you're not late and waiting until the next payment date rolls around.

(5) If you're not paid within your payment terms, send a letter, note or Mailgram to the laggard customer. If this {9esn't produce results, telephone them. Nothrng coerces like the human voice.

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(6) Consider charging interest on past due accounts. You can make this i part of your original terms. In the case of already consummated deals that are past due, you may be able to get the customer to agree to paying interest. Ask for interest of two points over the current prime rate.

(7) How tough you can get with a customer in pressing for payment depends on how unique your product or service is. If you are the sole supplier, you can curtail or cut off further shipments to force payment.

(8) If all else fails, turn the delinquent account over to an attorney or a collection agency. Getting something still beats getting nothing.

I 'M HAPPY to introduce in this column Don I Mccann. the new LMA president, who will be writing for you occasionally from here on in.

Don has a wealth of experience to guide the associ' ation in the coming year. A native of Modesto, Ca., he has been in the lumber business in this state since he left the U.S. Army's 584th Engineer Construction group after a two year stint. He was first employed by Work Lumber & Mill, Monterey, Ca., then Hayward Lumber. Watsonville, as assistant store manager. In 1953 he'became planing mill manager and buyer for the lumber yard with the Piedmont Lumber Co.

Later he broadened his scope of experience as a sales rep of Western Door and Sash and as -regional sales rei for Macklanburg Duncan, responsible for 18 counties in Ca. With this background in management and sales, he started his own business, M & S Building Supply, Monterey, Ca., in 1962. He has been owner and-nianager of that operation since then.

After completing Modesto schools, Don entered Monterey Peninsula Junior College where he was stu' dent body president and an award winner in track and agriculture. He graduated with a degree in agriculture.

He has served as president of the Monterey Peninsula 20-30 Club and worked with the Boy Scouts of America. In LMA. he has been a member of the board of directors. the executive committee. the insurance trust, and various committees. He was chairman of the recent convention at Coronado. Ca. His wife, Katherine, supports his interest in LMA.

We are winding down the last part of the second year in the new two-session legislature. The deadline for the introduction of bills has passed, and thankfully some of those bills that would have added additional restrictions on housing, OSHA, and the state lien laws did not make it.

There are several bills in the Ca. legislature that we must keep a close eye on to make sure they do not get out of committee. Several areas such as agricultural land use. health care costs. consumer affairs, health insurance, air pollution fines, employee benefits, labor use, land use planning, natural resources.and taxation are in bills thai couldliave grave impact if passed. We must keep constant pressures on Sacramento to keep these from reaching the Governor's desk.

SB 16?5 which passed the Senate is a bill we need' Called the Robber Check Bill it states that the name and address printed on the check, a valid California driver's license and other identification normally required shall be suflicient to establish the identity of the drawer of a bad check. If we can get this bill signed into law it will improve the cash flow of many businesses.