2016 May / June InterConnection by NACM Connect

The InterConnection VOLUME 4

ISSUE 3

MAY/JUNE 2016

Larry O'Brien, CCE, ICCE Named Credit Executive of the Year The Robert M. Healy Credit Executive of the Year Award was presented at the NACM Midwest Annual Meeting on April 21st. This year Mr. Robert Healy himself presented the award to Larry O’Brien, CCE, ICCE. Larry has been extremely active with the Association in the past several years and is currently the Chair of the NACM Chicago/Midwest Board of Directors. Following are Mr. Healy's comments: Known for his mentorship in and out of his company, this year’s Credit Executive of the Year never passes up the opportunity to help his staff and other credit professionals enrich their knowledge. A good listener, coach, decision maker and leader, his staff acknowledges him as the biggest proponent of education that they have had in their careers. He and his staff belong to numerous credit groups, all have their CCE’s or are working on them,

staff is encouraged to travel to see customers and to work actively with the Sales Team, emphasizing the importance of the relationship between the two departments. A long-time supporter of NACM Connect, he is often participating in the educational activities of the Association, speaking at numerous conferences and annual meetings. He has led several committees and serves on the Board of Directors.

Robert Healy (right) presents the Credit Executive of the Year award to Larry O'Brien, CCE, ICCE (left)

and several have their CICP designation. His entire staff has graduated from the Graduate School of Credit and Financial Management at Dartmouth. Our winner’s

His team says they could go on and on about his qualifications for this award, and they are confident he will continue to be an excellent steward of the credit community. Help me in congratulating the recipient of the 2015 Robert M. Healy Credit Executive of the Year Award, Larry O’Brien, CCE, ICCE. ■

2016 Annual Meeting Wraps Up Year for NACM Connect The NACM/Chicago-Midwest Annual Meeting was held at the Meridian Banquet Hall in Rolling Meadows, IL on April 21st. NACM/Chicago-Midwest is the legal name of the entity that encompasses the NACM Connect family. As is tradition, at this meeting the members of NACM Connect are invited to participate in a day of education, offering both a domestic and an international credit track, followed by a networking reception where the governing Board of Directors is installed for the upcoming year. Following are the addresses given at the annual meeting by outgoing Chair, Christine Alix, CICP, The Chamberlain Group, Incoming Chair, Larry O’Brien, CCE, ICCE, and NACM Connect President and COO, Phil Lattanzio, CCE: Outgoing Chair, Christine Alix, ICCE Chairing the governing Board of NACM/ Chicago-Midwest has been one of the

great honors of my career. Through the mentorship of Bob Vodraska, who we are so honored to have with us here this afternoon, I grew up in credit through the help of the Association which gave me the tools I needed to be successful. In this year of our new elite membership initiative, I encourage all you managers and supervisors to give the gift of belonging to the Association to your staff as well. During my time as chair, your Association continued to grow and further imbed itself as the premier NACM affiliate. We acquired two additional affiliates – NACM Greater Cleveland and NACM Southern Tier based in Binghamton, NY. Your Board worked diligently to help the Association’s management make a welcoming and productive work environment for the staff. The Managers of the Association are about to embark on a one-year leadership training program emphasizing the particular

Phil Lattanzio, CCE (left) presents the Outgoing Board Chair, Christine Alix, ICCE (right) with an award.

needs of each manager. An employee fitness room was completed. These are just two of the long-term projects approved by the Board of Directors. Continued on Page 5

2015-2016

Board of Directors

Chairperson Lawrence O'Brien, CCE, ICCE Potash Corporation Vice Chairperson John Fahey, CCE Edward Don & Company Treasurer Kurt Albright Uline, Inc. Directors—Terms Ending 2017 Larry Durrant, MBA, CCE, ICCE UPM Kymmene, Inc. Brent Heizelman Mid-Kansas Cooperative Association Deborah Kelly, CCE Knaack Manufacturing Company Dawn Wallace Cook, CCE Newton Manufacturing Company Directors—Terms Ending 2018 Ed Cohen, MBA North American Corporation Larry Grogan, CCE BP Products North America Larry Lipschutz, CCE, CICP French Gerleman Patrick Nelson, MBA ACCO Erica White, CCE Ferguson Enterprises Directors—Terms Ending 2019 Rob Hanus Carhartt, Inc. Mike Hill, CCE Mitek USA, Inc. David Sperduto, CCE VP Supply Corp. Rich Weiss, CBA Jaeckle Distributors

In This Issue Upcoming Events

Features Credit Executive of the Year Announced

WEBINAR: Deductions Strategies for Protecting Profit Margins

Annual Meeting Wraps Up Fiscal Year

Institute of Credit Summer/Fall Schedule

WEBINAR: Consignments: Recent Developments and Common Pitfalls

New Designees

Great Lakes Region Roundtable Discussions Upstate NY Roundtable Discussions

NACM Gateway Region Award Winners

Midwest Region Credit Classes

Wisconsin Region Hosts Roundtables

Wisconsin Roundtable Discussions

Annual Meeting Photo Galleries

Great Lakes Region Credit Classes

Wisconsin Annual Meeting

Nebraska - Business Credit Principles

Great Lakes Region Annual Meetings

Illinois Construction Stuff and Stuff

Candidate Corner

Staffing Services Now Available in Ohio

Credit Group Meeting Calendars

Event Calendar

Educating the Sales Team of Another Form of Credit Risk: A Customer's Second Chapter 11 Filing

New Members and Representatives

2016 Scholarship Award Recipients

NACM Southwest Giveaway Winners

Gateway Region and Upstate NY Region Offices Have Moved!

Top Ten Reasons to Work in Credit Revealed

President Phillip J. Lattanzio, CCE NACM/Chicago-Midwest Secretary Kerry Jensen, CPA NACM/Chicago-Midwest Councilor Chris Alix, ICCE The Chamberlain Group

Editorial Staff

Editor Sue Daniels Senior Marketing Administrator Associate Editors Lillian Novak, CGA V.P. of Education and Marketing Margaret Krafft Marketing Coordinator

NACM Connect Mission Statement

To provide a forum to its members within the credit profession for education, networking and business resources.

Vision Statement

Striving to have the most comprehensive and leading NACM affiliate serving the commercial credit profession by consistently exceeding the members’ expectations.

Value Statement

We are committed to the highest ethical standards and recognize that our Association must take a leadership role in our profession. Through our integrity and dedication we will earn the respect of our members as we know that our success as an Association depends on their trust in us. By creating strong relationships we will attain the loyalty of our members and alliance partners. We continuously seek to build an environment for learning to enhance the knowledge and expertise of our members.

The InterConnection newsletter is published bimonthly by NACM Connect, a not-for-profit Association affiliated with the National Association of Credit Management. For membership information, visit our website at www.nacmconnect.org, call 800.935.NACM or fax us at 847.253.6685. NACM Connect Headquarters is located at 3005 Tollview Drive, Rolling Meadows, IL 60008.

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MAY/JUNE 2016

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Education Digest

Institue of Credit (IOC) 2016 Summer/Fall Schedule - Register Now Start the process of earning your professional designation and register today for the NACM Connect Institute of Credit (IOC) Quarter that begins in June/July of 2016. If you

would like more information, please contact the NACM Connect Education Department at 800.935.6226 or email Lillian Novak at lillian.novak@nacmconnect.org.

C nnect. C llaborate. Inn vate.

CBA Course Schedule Business Credit Principles

(Four-day), 5/16 - 5/19

Lincoln, NE

Basic Financial Accounting

Thursday, 6/16 - 8/18

Rolling Meadows, IL

Business Credit Principles

Monday, 8/22 - 10/31

Rolling Meadows, IL

Basic Financial Accounting

Thursday, 8/25 - 10/27

Rolling Meadows, IL

Financial Statement Analysis I

Thursday, 8/25 - 10/27

Rolling Meadows, IL

Business Credit Principles

Tuesday, 9/13 - 11/15

Dearborn, MI

Basic Financial Accounting

Tuesday, 9/13 - 11/15

Cincinnati, OH

2016

NACM CONNECT Annual Meetings May 11

Wisconsin

May 19

Indiana

May 24

Michigan

CBF Course Schedule Credit Law

Mondays, 8/25- 10/27

Rolling Meadows, IL

Institue of Credit (IOC) CBA and CBF class times are usually in the evenings. Please refer to the specific class registration form in this issue for more details on instructors, locations, fees and times.

Exam Review Class Schedule 2016 Exam Review Class Schedule

Save the Dates for the 2016 Credit Conferences!

All Exam Reviews can be done via Teleconference.

Review Class

Review Date

CBA

Thursday, June 23

CBF

Tuesday, June 21

CCE

Wednesday, June 22

2016 Exam Dates and Paperwork Deadlines Application and Paperwork Deadlines

Exam Dates

May 30, 2016

Monday, July 25, 2016

September 12, 2016

Monday, November 7, 2016

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MAY/JUNE 2016 PAGE 3

NACM Connect

2016 NACM Connect Credit Conferences

E R

T I D

R E

V E

t e v

D e h

September 14-15

Eastern Region Rochester, NY

Hosted by NACM Upstate NY

October 25-26

e at

October 19-20

Midwest Region Rolling Meadows, IL

Gateway Region Maryland Heights, MO

November 9-10

Central Region Independence, OH Hosted by NACM Great Lakes Region

Information and details at www.nacmconnect.org THE INTERCONNECTION

MAY/JUNE 2016

PAGE 4

News

Annual Meeting Wraps Up Year for NACM Connect (cont'd) Continued from page 1

Also approved was a standard rotation of the property’s HVAC units’ replacements, a new cloud-based phone system enabling all staff members system wide to be able to communicate easily and quickly by dialing extensions instead of long-distance numbers. We approved a move and new lease for our Gateway and Upstate New York offices, resulting in substantial savings for the Association. As a matter of fact, many of the improvements will go a long way in reducing overhead costs. We were also able to approve the extension of our partnership with our most important business partner, Caine & Weiner. NACM Gateway Region played host to the 119th Credit Congress in St. Louis in May of 2015. At that event, two NACM Connect members were honored with

the needs of our emerging leaders. From this grew the idea of the Elite Membership initiative which you will hear more about later. Our social media footprint expanded with the help of our new Social Media Committee. The Elite Members will continue to work with staff to further expand our presence in the social media space. Of course, while it’s easy as a Board member or Chair to tell you about all these accomplishments, but we all know none of it would have happened without the diligent leadership of Phil Lattanzio and his staff. Phil – thank you so much for making the Board and especially me look so good. You make it all happen and NACM Connect is lucky to have you. I want to close by thanking each and

Incoming Chairperson of the NACM Chicago/Midwest Board of Directors, Larry O'Brien, CCE, ICCE

last 33 years in Credit, I’m sure glad it found me. I think Credit is one of the best kept secrets when it comes to careers for new graduates. Credit is like Sales, Accounting, Law, Finance and Customer Service all rolled up into one position. Credit can take you as far as you want to go, but it is up to you. All of us in this room are very lucky that we are part of NACM Connect as it is the premier NACM affiliate in the country. The management team and the entire NACM staff have built something special over the years.

2016-2017 Board of Directors (front row) Phil Lattanzio, CCE; Larry Grogan, CCE; Larry O'Brien, CCE, ICCE; Denise Moller, CCE, ICCE; Brent Heizelman, Debbie Kelly, CCE; Chris Alix, ICCE; Larry Lipschutz, CCE, ICCE; Erica White, CCE (back row) Kerry Jensen, CPA; Mike Hill, CCE; Patrick Nelson, MBA; Rich Weiss, CBA; Rob Hanus, Kurt Albright, Larry Durrant, CCE, ICCE.

National awards, Jay Snyder with the O.D. Glaus Credit Executive of Distinction and Cheryl Pinson, a Gateway member, with Instructor of the Year. It also announced that Jay Snyder would become ChairmanElect of NACM National, which is indeed an honor for Jay and for our affiliate. During this fiscal year the Board expanded by one member when Patrick Nelson was named to a new board position to focus on

every one of the members, my Board, and the NACM Connect staff; and, I wish Larry O’Brien great success in his Chairmanship year. Incoming Chair, Larry O’Brien, CCE, ICCE How many of you picked Credit as a career when you were in school? I definitely did not think about Credit when I was in school, but as I look back on the

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NACM Connect offers so much for its members. I am a firm believer that we all need to be lifelong learners. If you don’t continue to expand your knowledge, you will soon be left behind. NACM Connect offers us a first class education with a wide variety of educational offerings whether you need to brush up on a specific skill set or you are ready to embark on the path to obtain a professional designation. Education breeds confidence and with confidence, success is never far behind. There are those who will say that education just isn’t in the budget and that it is too expensive. My response to that is: “If you think education is expensive, try ignorance”. How many times have we attended an educational session, seminar or credit group and learned just one thing that eventually saved our company thousands or even millions of dollars? It MAY/JUNE 2016 PAGE 5

News Continued from page 5

is up to us to remind our management of these instances and you will begin to see a more open mind about spending money for education. I believe it is up to each of us as individuals to take the extra step and use what we learn to make each of our companies successful. NACM can offer you the skills to shine at your company. Nobody is going to invite you into the corporate suite; it is up to you to show management that you can add value to your company. Offer your assistance by qualifying vendors before your company makes major purchases; let your superiors know that your financial analysis skills can be used to evaluate the financial health of a proposed acquisition; offer to help with credit mitigation techniques when negotiating contracts. Pretty soon Credit will be looked upon as the go-to department to get things done or the value added department of the company. NACM Connect offers a wide variety of Credit Groups in a number of industries. Perhaps your industry is not represented by one of our Credit Groups, and if so, I urge you to seek out NACM staff to explore opportunities to start a new group. Think about the company you work for and your Credit Department. What can NACM Connect offer your firm? How about effective collections services? Or a first class employment service, whether that is for temporary or permanent placements?

Does your company need a more efficient solution for Domestic or International Credit Reports? NACM Connect saved my company thousands of dollars while offering more flexibility with their credit report solutions.

Chairperson, Christine Alix, for her leadership and guidance over the past year. Christine you are such a fine example to follow and I only hope I can lead with the same expertise that you exhibited this past year.

In addition to the services that your association offers donâ&#x20AC;&#x2122;t forget about all of the third party vendors associated with NACM Connect that can help your department work smarter, not harder. NACM has third party vendors that can help with collections, credit card services, check guaranty, ACH services, deduction management, tax management, analyzing financial statements and automating the Credit evaluation process and the list goes on. I urge you to reach out to the NACM Connect team to get you started.

I am so proud to be part of this fine organization and looking forward to serving you as your Chairperson for the 2016-2017 fiscal year. I look forward to working with the very capable incoming Board of Directors and I assure you that we will do our best, but we will need the same commitment from each of you. Please get involved. Support your association by taking a class, sign up for a webinar, attend the Credit Conference in October, recruit a new member, get a quote for Credit reports, seek out our third party vendors for Credit solutions or join a Credit group.

Your association is trying to reach everyone who works in Credit. Over the last couple of years the association has put a lot of time and effort to encourage young Credit professionals to become involved and to have a voice in this association. This past year the association rolled out a new program called Emerging Leaders. I am excited about this program and a little later you will meet these new leaders and you will soon see for yourself that our future is in good and capable hands. When I evaluate a business in my job, one of the key criteria I look for is to see if the company consistently reinvests in itself. With the guidance of Phil Lattanzio and Kerry Jensen, your association has done that over the years and plans to continue that practice in the future. Currently we are completing a roll out of new phone systems, upgrading the HVAC system and have plans to put in a new parking lot all to insure a safe and efficient workplace for all employees and tenants.

2016-2017 Elite Members and Elite Membership Committee (l. to r.) Patrick Nelson, MBA, ACCO USA; Chan Bun, Klein Tools; Melissa Rivera, Berlin Packaging; Erica White, CCE, Ferguson Enterprises; Brendon Misik, Potash Corporation; Martine Dyer, CBA, ACCO USA.

I want to thank our outgoing

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I want to thank all of you for taking time out of your busy schedules to attend this meeting. It shows your commitment to this organization and is a fine example of why this organization is so strong. I believe that NACM Connect has a very bright future and with your help we will continue to grow together. Thank you. President & COO, Phil Lattanzio, CCE This past year has been an outstanding year both in terms of growth and the reinvestment within the Association. We are optimistic that this trend will continue into the new fiscal year. I would like to thank Chris Alix and the rest of the Board of Directors for their Leadership. I would also like to thank the membership, group members, committee volunteers, instructors, vendor partners and the NACM Connect staff. We have continued to make membership growth a priority. NACM Connect is the largest of the NACM affiliates, and we continue to grow. We achieved a net gain of 16 members during the 2015-2016 fiscal year, a time when most Associations across the board are losing members. We also continue to enjoy a 90% retention rate. We are financially strong, and have exceeded both the consolidated and operating budgets, our cash flow continues MAY/JUNE 2016

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news

This year we placed seven names in nomination for national awards and three of those nominees are finalists. Last year the Robert L. Vodraska Scholarship Foundation awarded 16 scholarships totaling $6,800. For use this coming year, 18 scholarships in the amount of $6,400 were awarded going to members in all eight states.

Phil Lattanzio, CCE the President and COO of NACM Connect presents the State of the Association address.

to improve, and we are poised to be in a position for growth and investment.

We continue to reinvest in technology while reducing cost. All employees were converted to a cloud-based phone system, a new payroll system, and a new IT service provider. Our internet band width was increased from 10 Mg to 50 Mg. at the Rolling Meadows headquarters.

Education for our members is a priority. Sixty-two students went through CAP and ACAP classes in our region and 41 people earned their CBA designation, 4 their CBF, 8 CCE’s and 8 CCRA’s.

NACM continues to be the NACM Leader in Industry Credit Groups, administering 92 groups in all regions. Two new groups were added this year. All of our Group Services Staff have been recertified for their Credit Group Administrator designation.

We began a webinar series this year, and next week we will be testing a video conferencing educational experience.

We continue to provide a full menu of Credit Reporting options to meet the

Seven annual meetings that include an educational program are scheduled. Two enormously successful Legal Symposiums were held in St. Louis and Chicago, bringing together top credit attorneys from around the country. We held three successful conferences last fall and this year will add one more to that count. Last year Credit Congress was held in St. Louis, MO. Our members were awarded two National awards at that Congress… Jay Snyder, CCE, ICCE was the O.D. Glaus Award recipient and Cheryl Pinson, CCE was named Instructor of the year.

“

There are those who say that education isn’t in the budget and that it's too expensive. My response to that is, “If you think education is expensive, try ignorance”.

needs of the membership. Our Credit Report Solutions team has had an exceptional year, increasing revenue by 34% over last year. There has been a marked increase in members signing up for new subscription contracts or new deposit accounts.

Experian ran a similar contest. Again, NACM Connect came in #1 and our team took first, second and fourth place. Our staffing services operation continues to assist our members in finding employment and filling positions. Midwest Business Staffing placed a total of 23 people in temporary, temp to hire and direct hire positions. They enhanced the candidate experience in applying for positions by improving the on-line application process, and building a new website. This year we are opening a staffing division in the state of Ohio. I am very optimistic for the upcoming fiscal year. Our goal this year is to continue our growth in terms of both revenue and membership while providing our members with exceptional products and services. I am looking forward to working with our new Chair, Larry O’Brien, and his Board. I’m excited to get the Elite Membership program off the ground as well as working with our established members, business partners and my staff. In closing, I would like to challenge each of the following groups: Staff – Think outside of the box. Elite Members – Lead us to bring the Association to the next generation. Board of Directors - Think strategically to make NACM Connect the best Association we can be. Membership – Be active and further your career. Thank you. It is an honor and privilege to be the President of NACM Connect. ■

D&B held a nationwide contest this year and NACM Connect came in #1 for most new contracts sold. Additionally, members of our Credit Solution team came in first, second and third individually for the most contracts sold.

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MAY/JUNE 2016 PAGE 7

News

Congratulations to our Newest Designees CBF Designees Peter Cobb, CBF Gerdau Shared Services

CBA Designees

Sarah Montefusco, CBA Polyone Jessica Perdomo, CBA Optimas Glenda Peterson, CBA Anixter

Kim Kronin, CBA Dicor Group

See the 2016 Professional Designation class schedule on the website at http://www.nacmmidwest.org/chicago/ education.htm. Exam reviews can be done via phone conference. For more information please contact Lillian Novak, Vice President of Education, at 847.483.6478 or email lillian.novak@ nacmconnect.org. â&#x2013;

Nadine Ullmer, CBA North American Corporation

Joy Banks, CBA Hajoca Cheryl Calcagno, CBA Elkay Wanda Geske, CBA Grainger

Yazmin Yepez, CBA Mitsubishi Electric Automation Douglas Grimwood, CBA Kellwood Shared Services

NACM Connect Welcomes New Staff Member NACM Connect is welcoming Jim O'Brien as the new Staffing/Membership Consultant for the NACM Great Lakes Region. "Growing out of a sales background, my first instinct is to learn everything I can about my clients, their needs, frustrations, challenges and aspirations. This foundation has served me well, enabling me to formulate effective strategies while building strong business relationships. The challenges and strategies may be different, but the end result is the same, making a measurable difference in my clients business future.

NACM has a rich history as a leader in the business services and credit market, but I am most proud of our people and their total commitment to the success and support of our customers. As a new member of our team I am looking forward to working with both new and existing accounts." Jim can be reached at 937.402.2131 or by email at jim.obrien@nacmconnect.org. â&#x2013;

As a staffing and membership specialist for NACM Great Lakes / Midwest Business Staffing, I am proud to lead a company relentlessly focused on our clients success.

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NACM connect

2016 NACM Gateway Region Award Winners Announced At the April 7th NACM Gateway Region Annual Meeting, two members were recognized for their contributions to the affiliate. Kevin Stinner, CCE, was presented with the Credit Excellence Award for his work on the Advisory Board, Education Committee, speaking and helping to start a new industry credit group in the region. This year he will also be a speaker at the 120th Credit Congress in Las Vegas. Additionally, the Gateway Region Member of the Year Award was bestowed upon Delilah Morkisz for her work on the Advisory Board and the Gateway Region Activities Committee. Please help us in congratulating both winners. â&#x2013;

Kevin Stinner, CCE, (center) was presented with the 2016 Credit Excellence Award.

Delilah Morkisz (center) was the recipient of the 2016 Gateway Region Member of the Year award.

NACM Midwest - Wisconsin Hosts Roundtable Discussions in Madison NACM Midwest-Wisconsin peridocially hosts Roundtable Discussion meetings in various areas around the state with topics of interest to credit professionals. These meetings are typically held as a breakfast or lunch session at a local restaurant. Some Madison, Wisconsinarea credit professionals gathered in late April to have a moderated discussion on,"The 5-minute Credit Decision... how to make credit decisions under pressure". Watch for more Roundtable discussions meetings coming soon to other areas of NACM Midwest - Wisconsin. If you have questions about upcoming events visit the website at www.nacmconnect.org, or contact Frank Schetski at 414.232.4565 or frank.schetski@nacmconnect.org. â&#x2013; THE INTERCONNECTION

MAY/JUNE 2016 PAGE 9

News

Gateway Annual Meeting Photo Gallery

April 7

See the complete photo gallery on Facebook at www.facebook.com/ConnectNACM

April 12 Upstate New York Annual Meeting Photo Gallery

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news

April 14

Midwest /Nebraska Annual Meeting Photo Gallery

See the complete photo gallery on Facebook at www.facebook.com/ConnectNACM

Midwest/Illinois Annual Meeting Photo Gallery

April 21

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NACM midwest - wisconsin Get speakers, schedules and details at www.nacmmidwest.org

NACM Midwest-Wisconsin Annual Meeting

C nnect. C llaborate. Inn vate.

May 11

2016

Holiday Inn Pewaukee Pewaukee, WI

Registration Form - All payments must be made one week prior to the meeting. I would like to attend:

qEducational Sessions $179 members, $358 non-members

qNetworking Event

(Two coupons per person are valid).

Free to all members (Open bar)

Meeting Location:

qNACM Midwest - Wisconsin Annual Meeting Holiday Inn Pewaukee Event Center N14 W24140 Tower Pl, Pewaukee, WI 53072

Name___________________________________________________________________________________________________________________ (Please print your name as you would like it to appear on your name badge.)

Designation(s) ___________________________________________________________________________________________________________ Company Name __________________________________________________________________________________________________________ Address_________________________________________________________________________________________________________________ City ____________________________________ State _________ Mobile Phone _____________________________

Zip____________________ Phone _________________________________

Do you accept text messages?

qYes qNo

Fax _______________________________

NACM MIDWEST Illinois

Nebraska

Wisconsin

NATIONAL ASSOCIATION OF CREDIT MANAGEMENT An NACM Connect Company

Cancellation Policy: Cancellations must be received in writing, via fax, email or mail no later than one week prior to the meeting date to qualify for a full refund. Cancellations received later than one week prior to the meeting date DO NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. If you have any questions, please email info@nacmconnect.org.

Our Sponsors tm

Email this form to registration@nacmconnect.org or fax to 847.253.6241. You will be invoiced shortly.

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PAGE 12

NACM great lakes region Get speakers, schedules and details at www.nacmgreatlakesregion.com

NACM Great Lakes Region Annual Meetings

C nnect. C llaborate. Inn vate.

May 19

Sheraton City Centre Indianapolis, IN

2016

May 24

The Highlands Grand Rapids, MI

Registration Form - All payments must be made one week prior to the meeting. I would like to attend:

qEducational Sessions $189 members, $378 non-members

qNetworking Event

(Two coupons per person are valid).

Meeting Location: (Choose one)

qIndiana Annual Meeting qMichigan Annual Meeting

Free to all members (Open bar)

Sheraton City Centre 31 W Ohio Street Indianapolis, IN 46204

The Highlands Event Center 2715 Leonard Street NW Grand Rapids, MI 49504

Name___________________________________________________________________________________________________________________ (Please print your name as you would like it to appear on your name badge.)

Zip____________________ Phone _________________________________

Do you accept text messages?

qYes qNo

Fax _______________________________

Email ___________________________________________________________________________________________________________________ q I am using _______ coupon(s) for this event. q Checkâ&#x20AC;&#x201D;Payable to NACM Connect and mail to: 3005 Tollview Drive, Rolling Meadows, IL 60008 q Credit Cardâ&#x20AC;&#x201D;Pay by phone upon receipt of invoice: 1-800-935-6226. q Please invoice me. Cancellation Policy: Cancellations must be received in writing, via fax, email or mail no later than one week prior to the meeting date to qualify for a full refund. Cancellations received later than one week prior to the meeting date DO NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. If you have any questions, please email info@nacmconnect.org.

Our Sponsors tm

Email this form to registration@nacmconnect.org or fax to 847.253.6241. You will be invoiced shortly.

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MAY/JUNE 2016 PAGE 13

NACM connect

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MAY/JUNE 2016

PAGE 14

News

Illinois Construction Stuff and Stuff By Norm Cowie, CCE

As soon as I heard my customer closed his doors and filed bankruptcy, I beat my chest in anger, threatened the remaining hairs on my head with extinction and liened the heck out of all of his jobs. I’m funny that way. See, you’re allowed to file liens without violating the automatic stay. You just can’t foreclose until you receive the judge’s permission. Several of the jobs cleared readily. Once the owners received our liens, they are permitted to make direct payment to us to clear them. So these funds never went through the bankruptcy. But one poo-poo head (this is my mature nomenclature for the opponent’s attorney – as opposed to the absolute respect I have for our own attorney) contacted me telling me he represented the owner for one of the liens we filed for roughly $10,000. He went on to allege (another attorney word that suggests that while they aren’t sure of a particular fact they’re going to assume it is so because it helps their case) that his client didn’t know us and that my customer wasn’t even a subcontractor on any of their projects. He went on to suggest he might challenge the validity of our lien. I, of course, responded with, ‘bring it on!’ Though not precisely in those words.

alleging the amount due is due and unpaid, their answer was one word, ‘Denied.’ Le gasp!! In the meantime, I had done some research. The first thing I found was a partial waiver of lien we’d issued for $96k about six months before. I double-checked, and we had never issued a final waiver. This discovery was solid gold. This meant that somewhere at some time we had appeared (as we should) on a contractor’s sworn statement. This threw water on his argument that our lien was a surprise to the owner. But I found more. The material we provided was specialty light fixtures. Before ordering over 100k of custom light fixtures, the owner ’s engineer/architect generally requires manufacturer drawings to make sure the color, wattage, size, etc. conforms with what the job requires. Then they sign off on the spec sheets and they are sent to the manufacturer when releasing the fixtures for production. This protects both the owner and the manufacturer from mistakes that could have been easily avoided. And what I found was a submittal sheet … on our letterhead … showing our name and address, the subcontractor’s name and the project name. It was signed and dated by the owner’s architect.

Then he proceeded to ignore my phone calls and emails. So I sicced my attorney on him. After some more fruitless attempts, we went to the Court to get permission to foreclose. Of course this was easy because the trustee’s poo-poo head pretty much lived up to his nickname and fought us every step of the way. But after some effort, we were able to lift the stay and file foreclosure.

Boo ya!

Soon after, we received the owner’s Answer to Complaint from a new poo-poo head saying the owner was ‘without sufficient knowledge’ and demanding ‘strict proof’ (as opposed to lenient proof) of everything in our complaint. Oh, wait, they admitted the owner owned the land. Oh, oh, and one other gem. The answer to the part of our complaint

We noticed a sudden change in the tone of their correspondence, and now they wanted to start taking settlement. Their tone turned self-pitying. “Oh, we paid the subcontractor (who all of a sudden they recognized) in full. We were wronged. We’re a non-profit. Pity us.”

That’s what we call strict proof. So I sent all of this to my attorney along with an offer to go to the job site, a library at a religious organization, and point out our fixtures for them which were keeping them from reading in the dark.

THE INTERCONNECTION

Um, no. I directed my attorney to push for full payment, but in a moment of weakness told him I’d be willing to take 90%, but not a penny less. The rest of the story is pretty humdrum. They sent payment to our attorney, who non-suited our foreclosure and filed our release of lien. But this should demonstrate the importance of when you lien a job, start collecting evidence that the owner should know who you are. Have you submitted waivers? Did you ship directly to the job site in your own marked trucks? Do you have any correspondence directly with the owner or with the general contractor? Were any of the POD’s signed by the owner or owner’s agent? Were any waivers submitted directly to the GC/owner or the title company? Did you bicycle up and down the sidewalk in front of their building? These, in themselves won’t prove anything, but when you can convince a judge that not only shouldn’t the owner have accepted a waiver saying the material was ‘taken from paid stock,’ they should have known exactly who you are. And made sure you were paid. ■ Norm www.normcowie.com Norman Cowie, CCE is Director of Credit for Paramont-EO, Inc. Besides his regular column for InterConnection, he has written articles appearing in the Chicago Tribune, Cynic Magazine, Business Credit and the Herald News. He also has seven published humor/fantasy novels, some through traditional publishers Echelon Press, Quake Books and Draumr Publishing, although more recently he has transitioned over to Indie publishing. Norm can be reached at norm.cowie@ paramont-eo.com, or feel free to visit him at www.normcowie.com which features past NACM articles.

MAY/JUNE 2016 PAGE 15

Staffing News

CA CONDI RN DA ER TE

Candidate Corner CREDIT AND COLLECTIONS CANDIDATE

Results-oriented professional ready to give 100% • Managed a portfolio with 2,500 accounts; including Canadian accounts • Contacted, on a daily basis, over 90 customers with past due accounts • Handled proof of claims and dealt with preferences for accounts filing bankruptcy • Processed Letters of Credit and liens • Performed VLOOKUP searches in Microsoft Excel

ACCOUNTS RECEIVABLE CANDIDATE

Enthusiastic and reliable cash applications specialist • Processed up to 700 checks and 1000 invoices a day • Advanced AS/400 skills • Researched and resolved deductions • Prepared financial reports • Bilingual fluency in both English and Spanish

on seeking talent or job opportunities with Midwest Business Staffing contact Leslie Harrison at leslie.harrison@ nacmconnect.org or Paula Carruth at paula.carruth@nacmconnect. o r g . Yo u c a n a l s o c a l l t h e m a t 847.483.6434 or visit the website at www.nacmmidweststaffing.com. ■

Both of these candidates are available for immediate placement. If you have a vacancy or just want more information An NACM Connect Company

NACM Connect members are encouraged to consider Caine & Weiner as their collection agency source. This is important to the association as it provides funding for our essential member services including: EDUCATION • WORKSHOPS • PUBLICATIONS CREDIT CONFERENCES • NETWORK EVENTS Contact Jim McGee Assistant Vice President, Client Services, Caine & Weiner Phone: 847.407.2348 jim.mcgee@caine-weiner.com

THE INTERCONNECTION

MAY/JUNE 2016

PAGE 16

Staffing News

Credit Department Staffing Services Now Available in Ohio Midwest Business Staffing, a recognized leader in recruiting and placing (business-to-business) commercial credit, collections, accounts receivable and deductions professionals is now offering its services to NACM Connect member companies in Ohio. Employers and job seekers in Ohio can now take advantage of the specialized placement services available exclusively to member companies. Midwest Business Staffing currently serves Illinois, Wisconsin and Missouri and will now be available in Ohio. Director of Staffing, Leslie Harrison says, "The market for staffing services in Ohio is booming, and the demand for quality Credit Professionals and

service is increasing. We're looking forward to being the top provider to all credit departments in Ohio." Harrison and her lead recruiter, Paula Carruth, are experienced in supplying Credit department clients with quality staff and matching job seekers with opportunities. “After evaluating the different membership regions we determined that Ohio was the best option for expanding our staffing services. The decision could not have been easier as the growth opportunities are clearly evident” says Harrison. “Our staff is ready to hit the ground running to bring the best service and solutions to credit

departments in the area and those seeking employment." Midwest Business Staffing is the NACM's largest, full-service staffing a g e n c y. T h e y o f f e r t e m p o r a r y, temporary-to-hire, and direct placement positions targeted to credit and finance department recruiting and staffing solutions. If you want more information on seeking talent or job opportunities with Midwest Business Staffing contact Leslie Harrison at leslie.harrison@ nacmconnect.org or Paula Carruth at paula.carruth@nacmconnect. o r g . Yo u c a n a l s o c a l l t h e m a t 847.483.6434 or visit the website at www.nacmmidweststaffing.com. ■

Midwest Business Staffing Exhibits at Community College Job Fair NACM Connect member companies and their credit departments are growing and staffing needs are on the rise. In order to keep up with the demand for credit professionals, recruiting at local career fairs is crucial to help member companies acheive workforce goals by providing

candidates that meet the unique needs of the credit industry. Midwest Business Staffing recently participated in a local community college career fair. This particpation allows them to recruit new talent, but also to raises

THE INTERCONNECTION

awarenesss and visibility for careers in the credit industry. Recruitment at the Career Fair was for temporary and fulltime positions within member company credit departments. Contact Midwest Business Staffing to assist with your recruiting or placement needs. ■

MAY/JUNE 2016 PAGE 17

Credit Group Meeting Calendar NACM Gateway Region Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

May 6

Central IL Electrical Credit Group

Engrained Brewing Co., Springfield, IL

May17

Midwest Regional Food Suppliers Credit Group

NACM Gateway Office, Creve Coeur, MO

May 18

Electrical Distributors Credit Group

Bartolino's, St. Louis, MO

May 20

Refrigeration & Warm/Cool Air Suppliers Credit Group

Bartolino's, St. Louis, MO

June 3

Mid Missouri Construction Credit Group

Bartolino's, St. Louis, MO

June 17

Refrigeration & Warm/Cool Air Suppliers Credit Group

Bartolino's, St. Louis, MO

June 21

Midwest Regional Food Suppliers Credit Group

NACM Gateway Office, Creve Coeur, MO

June 22

Electrical Distributors Credit Group

Bartolino's, St. Louis, MO

NACM Midwest-Nebraska Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

May 18

Omaha Builders Credit Group

Enterprise Center, Omaha, NE

June 15

Omaha Builders Credit Group

Teleconference

NACM Upstate New York Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

May 10

Western NY Food & Beverage Supply Credit Group

llio DePaolo's Restaurant, Blasdell, NY

May 12

Rochester Plumbing & HVAC Credit Group

Humphrey House, Rochester, NY

May 13

Buffalo Building & Construction Credit Group

Eagle House, Williamsville, NY

May 17

Central New York Building Credit Group

Spaghetti Warehouse, Syracuse, NY

May 18

CNY - Albany Food and Beverage Supply Credit Group

Conference Call

May 19

Rochester Building Credit Group

Cerame's Restaurant, Rochester, NY

May 20

Benchmarking Credit Group

Cerame's Restaurant, Rochester, NY

May 24

Buffalo Plumbing & Electric Credit Group

Eagle House, Williamsville, NY

May 25

CNY Benchmarking Credit Group Credit Group

Spaghetti Warehouse, Syracuse, NY

June 9

Rochester Plumbing & HVAC Credit Group

Humphrey House, Rochester, NY

June 10

Buffalo Building & Construction Credit Group

Eagle House, Williamsville, NY

June 14

Western NY Food & Beverage Supply Credit Group

llio DePaolo's Restaurant, Blasdell, NY

June 15

CNY - Albany Food and Beverage Supply Credit Group

Conference Call

June 16

Rochester Building Credit Group

Cerame's Restaurant, Rochester, NY

June 20

Albany Building Credit Group

Scarboroughs, Latham, NY

June 21

Central New York Building Credit Group

Spaghetti Warehouse, Syracuse, NY

June 28

Buffalo Plumbing & Electric Credit Group

Eagle House, Williamsville, NY

THE INTERCONNECTION

MAY/JUNE 2016

PAGE 18

Credit Group Meeting calendar NACM Midwest Illinois Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

May 10

Masonry Credit Group

Ditka's, Oakbrook Terrace, IL

Electrical Distributors Credit Group

Ditka's, Oakbrook Terrace, IL

May 12

Northern Illinois Heating Wholesalers Credit Group

Greek Islands, Lombard, IL

May 17

Metal Distributors Credit Group

Ditka's, Oakbrook Terrace, IL

May 18

Institutional Credit Group

Ditka's, Oakbrook Terrace, IL

May 19

Ad Media Credit Group

WBBM AM, Chicago, IL

WISCA Credit Group

Devon, Oakbrook Terrace, IL

May 26

Basic Material Credit Group

Ditka's, Oakbrook Terrace, IL

June 9

Northern Illinois Heating Wholesalers Credit Group

Devon, Oak Brook Terrace, IL

Building Suppliers Credit Group

Weber Grill, Lombard, IL

June 15

Floor Covering & Wall Tile Credit Group

NACM Midwest, Rolling Meadows, IL

June 16

WISCA Credit Group

Parker's, Downers Grove, IL

Ad Media Credit Group

WGN America, Chicago, IL

June 17

Electrical Distributors Credit Group

Arlington Park Racetrack, Arlington Heights, IL

June 21

Metal Distributors Credit Group

Greek Islands, Lombard, IL

June 23

Basic Material Credit Group

Devon, Oak Brook Terrace, IL

June 23

WI Benchmarking (Central) Credit Group

Rupp's Downtown, Sheboygan, WI

NACM Connect National Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

May 12

National Packaged Products Credit Group

Conference Call

National Waterway Carriers Credit Group

DoubleTree Hotel, New Orleans, LA, 2-day

National Circuit Board Suppliers Credit Group

Holiday Inn, Atlanta, GA, 2-day

May 16

National Firearms and Ammunition Credit Group

Embassy Suites, Dallas, TX, 2-day

May 17

National Home Centers Credit Group

Sheraton City Centre, Indianapolis IN, 2-day

May 19

National Consumer Products Credit Group

Sheraton City Centre, Indianapolis IN, 2-day

National Manufactured Housing Credit Group

Bahia Mar, Fort Lauderdale, FL

National Underground Utilities Credit Group

The Hotel of South Beach, Miami Beach, FL, 2-day

National Construction, Architectural, Auto Credit Group

Conference Call

National Electrical Manufacturers Credit Group

Embassy Suites, Philadelphia, PA, 2-day

National Paper Packaging Credit Group

Hampton Inn & Suites, Baltimore, MD, 2-day

June 13

National Metal Buildings Credit Group

Credit Congress, Las Vegas, NV

June 16

National Metal Producers Credit Group

Crowne Plaza Chicago O'Hare, Rosemont, IL, 2-day

National Steel Mill Credit Group

Fairmont Le Chateau Frontenac, Quebec City, Canada, 2-day

June 20

National Coated Paper & Film Credit Group

Hampton Inn Downtown/North Loop, Chicago, IL, 2-day

June 23

National Metal Recyclers Credit Group

Hilton Garden Inn Downtown Indianapolis, Indianapolis, IN

National Leisure Living Credit Group

Flamingo Hotel, Las Vegas, NV, 2-day

June 9

THE INTERCONNECTION

MAY/JUNE 2016 PAGE 19

Credit Group Meeting Calendar NACM Great Lakes Region Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

May 10

Electrical/Industrial Trade Credit Group

Pietro's, Grand Rapids, MI

Michiana Credit Association Credit Group

Luccheses, Elkhart, IN

May 11

West Michigan Heating Plumbing Wholesalers Credit Group

Brann's, Wyoming, MI

May 12

Indiana Wholesale Floor Covering Credit Group

Conference Call

Michiana Building & Industrial Suppliers Credit Group

Conference Call

Indiana Electrical Suppliers Credit Group

NACM GLR - Indiana Office, Indianapolis, IN

Automotive Suppliers Credit Group

Conference Call

Lumber & Building Materials Credit Group

Pietro's, Grand Rapids, MI

Michigan Electrical Supply Credit Group

Mojave Cantina, Clawson, MI

Indianapolis Building Trade Suppliers Credit Group

NACM GLR - Indiana Office, Indianapolis, IN

May 19

Cincinnati Dayton Wholesale Electric Credit Group

Century Inn, Cincinnati, OH

May 20

Fort Wayne Building Materials Credit Group

Don Hall's Gas House Restaurant, Fort Wayne, IN

May 25

Metal Service Center Credit Group

Antonio's, Canton, MI

Plumbing & Heating Wholesalers Credit Group

NACM GLR - Indiana Office, Indianapolis, IN

Cleveland/ Akron/ Canton Food Suppliers Credit Group

Papa Joe's/Iacomini's, Akron, OH

Cincinnati Construction Suppliers Credit Group

Romano's Macaroni Grill, Cincinnati, OH

June 8

West Michigan Heating Plumbing Wholesalers Credit Group

Brann's, Wyoming, MI

June 9

Michiana Building & Industrial Suppliers Credit Group

Conference Call

June 14

Electrical/Industrial Trade Credit Group

TGI Fridays, Kalamazoo, MI

June 15

Michigan Electrical Supply Credit Group

Mojave Cantina, Clawson, MI

Indianapolis Building Trade Suppliers Credit Group

NACM GLR - Indiana Office, Indianapolis, IN

June 16

Cincinnati Dayton Wholesale Electric Credit Group

Century Inn, Cincinnati, OH

June 17

Fort Wayne Building Materials Credit Group

Don Hall's Gas House Restaurant, Fort Wayne, IN

June 21

Indiana Electrical Suppliers Credit Group

NACM GLR - Indiana Office, Indianapolis, IN

Automotive Suppliers Credit Group

Conference Call

Metal Service Center Credit Group

Antonio's, Canton, MI

Plumbing & Heating Wholesalers Credit Group

NACM GLR - Indiana Office, Indianapolis, IN

Cleveland/ Akron/ Canton Food Suppliers Credit Group

Papa Joe's/Iacomini's, Akron, OH

Cincinnati Construction Suppliers Credit Group

Romano's Macaroni Grill, Cincinnati, OH

May 17

May 18

June 22

THE INTERCONNECTION

MAY/JUNE 2016

PAGE 20

Event Calendar DATE

EVENT

LOCATION

TIME

PRESENTER / INSTRUCTOR(S)

May 3

NACM Great Lakes Region - Indiana Credit 103

Mid City Supply Co. Inc.Elkhart, IN

9 a.m. – 4 p.m

Jim Montague, CCE

May 11

NACM Midwest - Wisconsin Annual Meeting

Holiday Inn Pewaukee Event Center Pewaukee, WI

9 a.m. – 5 p.m

Various

May 12

NACM Connect Webinar The Bottom Line: Deduction Strategies for Protecting Profit Margins

________________________

10 a.m. - 11:15 a.m.

Diana Crowe

NACM Great Lakes Region - Michigan Credit 103

AK Steel Corp-Dearborn Works Dearborn, MI

9 a.m. – 4 p.m

Jan Spalding, CCE, CICP

NACM Great Lakes Region - Ohio Credit 102

NACM Great Lakes Region Office Dayton, OH

9 a.m. – 4 p.m

Tom Muter, CCE

CFDD Lincoln - Nebraska Chapter Business Meeting

Pizza Ranch

12 p.m.

______________

May 13

NACM Great Lakes Region - Indiana Credit 102

Roche Diagnostics Indianapolis, IN

9 a.m. – 4 p.m

Judy Wagner, CCE MBA

May 16-19

NACM Midwest - Nebraska Business Credit Principles (Four-Day)

Purina - Lincoln Operations Office Lincoln, NE

8 a.m. – 5 p.m.

John Jaeger, CCE

May 18

NACM Upstate New York Buffalo Lunch Roundtable Discussion

Original Pancake House Williamsville, NY

9 a.m. - 10:30 a.m.

TBA

May 19

NACM Upstate New York Rochester Lunch Roundtable Discussion

International House of Pancakes Rochester, NY

9 a.m. - 10:30 a.m.

TBA

NACM Great Lakes Region - Indiana Annual Meeting

Sheraton City Centre Indianapolis, IN

9 a.m. – 5 p.m

Various

May 24

NACM Great Lakes Region - Michigan Annual Meeting

The Highlands Event Center Grand Rapids, MI

9 a.m. – 5 p.m

Various

May 25

NACM Great Lakes Region - Michigan Credit 103

The Highlands Golf Club Grand Rapids, MI

9 a.m. – 4 p.m

Curt Johnson, CCE

NACM Midwest - Wisconsin Fox Valley Roundtable Discussion

Perkins Restaurant Appleton, WI

8:15-10 a.m.

Frank Schetski

NACM Great Lakes Region - Ohio Credit 101

Lakeside Terrace Community Ctr. Streetsboro, OH

9 a.m. – 4 p.m

Bonnie R. Grant, CCE

NACM Midwest - Illinois Credit 101

NACM Midwest Rolling Meadows, IL

9 a.m. – 4 p.m

Rich Bellis

NACM Connect Webinar The Bottom Line: Deduction Strategies for Protecting Profit Margins

________________________

10 a.m. - 11 a.m.

Thomas Fawkes Brian Jackiw

June 15

NACM Upstate New York Buffalo Lunch Roundtable Discussion

Original Pancake House Williamsville, NY

9 a.m. - 10:30 a.m.

TBA

June 16

NACM Upstate New York Rochester Lunch Roundtable Discussion

International House of Pancakes Rochester, NY

9 a.m. - 10:30 a.m.

TBA

NACM Midwest - Illinois Basic Financial Accounting Class Begins

NACM Midwest Rolling Meadows, IL

5:30 p.m. – 8:30 p.m

Tom Wuich, CCE

June 21

NACM Connect CBF Exam Review

NACM Midwest Rolling Meadows, IL

5 p.m. – 8 p.m

John Jaeger, CCE

June 22

NACM Connect CCE Exam Review

NACM Midwest Rolling Meadows, IL

5 p.m. – 8 p.m

John Jaeger, CCE

June 23

NACM Connect CBA Exam Review

NACM Midwest Rolling Meadows, IL

5 p.m. – 8 p.m

John Jaeger, CCE

NACM Great Lakes Region - Ohio Credit 103

NACM Great Lakes Region Office Dayton, OH

9 a.m. – 4 p.m

Tom Muter, CCE

June 24

NACM Great Lakes Region - Indiana Credit 103

Roche Diagnostics Indianapolis, IN

9 a.m. – 4 p.m

Judy Wagner, CCE MBA

June 30

NACM Great Lakes Region - Ohio Lunch Roundtable Discussion

TGI Friday's Brooklyn, OH

11:30 a.m. – 1:30 p.m

Darren Green

June 8

THE INTERCONNECTION

MAY/JUNE 2016 PAGE 21

nacm connect

SHARED SERVICES OR OUTSOURCE: How can I be sure we are maximizing the full potential of that decision?

THE INTERCONNECTION

MAY/JUNE 2016

PAGE 22

News

Educating the Sales Team of Another Form of Credit Risk: A Customer's Second Chapter 11 Filing By Scott Blakeley, Esq. The sale’s team’s mission is to bring in business, whether new relationships or expanding existing relationships. Notwithstanding the sale’s team’s focus of bringing in the business, many suppliers are reconsidering the commission terms of the sale’s team. An emerging trend is to have the sale’s team’s commissions subject to a claw back should the customer fail to pay undisputed invoices. The reasoning for the claw back is that the sale’s team can be a source of information to assist the credit team with evaluating credit risk that the credit team may otherwise not have access. But the credit team must educate the sale’s team of credit risk they may not appreciate, including a customer’s second chapter 11. Recent Chapter 22 examples include the Fresh & Easy market chain, the Orange County Register newspaper chain, and the A&P market chain (Chapter 33). Supplier credit risk with a Chapter 22 is highlighted where a debtor negotiates with key suppliers in the first Chapter 11 that in exchange for early payment of 503(b)(9)(20 day) claims, the supplier continues to provide product on normal terms for the duration of the chapter 11 and after the debtor emerges from Chapter 11. What are key takeaways the credit team can educate the sale’s team as to the unique credit risk of a customer emerging from chapter 11 and refiling? Chapter 11 Exit Strategy: Sale Of Assets Or Operating Plan—But Does It Make a Difference As To Supplier Credit Risk For A Second Chapter 11? A debtor’s exit strategy from chapter 11 can be through a sale of substantially all of the assets or an operating plan. The debtor may elect to sell all of its assets to a newly formed company, and that company may later be forced to file chapter 11, as was the setting for Fresh & Easy’s second Chapter 11 filing. The trend of some company’s willingness to file a second Chapter 11 raises new questions–and poses new risks–regarding a supplier’s strategy (credit team and sale’s team collaboration) of credit sales to a company that is in Chapter 11, as well as one that has emerged from Chapter 11. Whether a sale of assets or an operating plan, the sale’s team must appreciate the supplier credit risk with each form of a debtor’s exit strategy from Chapter 11.

the debtor’s projections of being cash flow can be missed, forcing the debtor to consider a second Chapter 11 to get the benefit of the automatic stay. With a proposed operating Chapter 11 disclosure statement and plan, it’s common for a debtor to submit a hundred-plus pages of projections prepared by its accountants, and declarations detailing the debtor is new and improved. These pleadings are often supported by the creditors’ committee and the bank group, underscoring that the debtor’s plan obligations to suppliers will be met. The bankruptcy court is to rule the plan of reorganization is “feasible”, which means the debtor is capable of meeting its debts. But a confirmed Chapter 11 plan, even supported with detailed projections showing profitability, does not guarantee payment of a supplier’s pre-Chapter 11 debts, nor credit sales to the reorganized debtor. A S e c o n d Ta k e a w a y : A S e c o n d Chapter 11 Filing Generally Stands The Bankruptcy Code does not expressly bar a company from filing a second Chapter 11, unlike an individual who files a Chapter 7 liquidation and obtains a discharge. Notwithstanding the Bankruptcy Code’s absence of a bar on Chapter 22, bankruptcy courts that first faced whether a business that filed a second Chapter 11 are eligible often dismissed the case, forcing the reorganized debtor to liquidate its assets under the confirmed plan or convert to Chapter 7 liquidation. These courts were concerned that allowing a debtor to undermine the provisions of a confirmed plan could result in suppliers cutting off the financially strapped debtor, especially those that had furnished goods on open account during the Chapter 11. These courts noted a second Chapter 11 plan that is confirmed could wipe out the priority supplier claims in the first plan, and the potential loss of priority status in the second case could dissuade suppliers from providing postpetition terms.

A First Takeaway For The Sale’s Team: The Confirmed Chapter 11 Plan Does Not Guarantee Payment On Future Credit Sales

The modern trend of bankruptcy courts, however, is to permit a company to file a second Chapter 11. These courts reason that creditors benefit more from a second Chapter 11, than liquidation alternatives under Chapter 7 or state law. Usually the two Chapter 11 filings are for different purposes, with the first Chapter 11 filing intended to reach a consensual plan of reorganization, while the second Chapter 11 filing is a liquidation.

A key tenet for the sale’s team is that even if a bankruptcy court confirms a Chapter 11 plan,

A T h i r d Ta k e a w a y : R i s k s P o s e d To The Supplier

THE INTERCONNECTION

As recent press reports indicate, even if a debtor confirms a Chapter 11 plan, there is no guarantee the business will not revert to financial straits and file a second Chapter 11. For debtors and suppliers to cooperate in Chapter 11, Congress created balances between the parties. This is done, in part, by granting suppliers that sell post-bankruptcy on credit a higher priority of payment than prepetition unsecured creditors, should a debtor fail to pay. A second Chapter 11 strips the supplier of this priority. Likewise, the filing of a second Chapter 11 poses special risks to suppliers offered under the first Chapter 11 plan that allowed suppliers a more favorable payment on their unsecured claims for supplying the debtor on credit after the plan is confirmed. A second Chapter 11 filing treats these postconfirmation credit sales as the same priority as other unsecured creditors. As a reminder to the sale’s team, while the supplier may seek stricter provisions in a Chapter 11 plan governing the liquidation of the debtor in the event of a post-confirmation failure, a second filing wipes away any stricter provisions. Thus, the issue is managing credit risk with continued sales. Balancing the interests of credit and sales can be a challenge with a customer that may be a source of substantial sales—even if recently emerged from Chapter 11. Given the number of companies that emerge from Chapter 11, only to refile, the sale’s team must respect the credit team’s evaluation of whether credit should be extended, both during and after the first Chapter 11. The credit team must educate the sale’s team of the unique credit risk with a Chapter 11 debtor, especially if their commissions are at risk if the debtor files a second time. ■

Scott Blakely is a partner at Blakeley & Blakeley LLP, where he advises companies regarding bankruptcy, creditors’ rights and commercial law. He was selected as one of the 50 most influential people in commercial credit by Credit Today. He is a contributing editor for American Bankruptcy Institute’s Manual of Reclamation Laws and author of A History of Bankruptcy Preference Law, published by ABI. Scott has published dozens of articles in the area of creditors’ rights, commercial law, and bankruptcy and speaks frequently to credit industry groups regarding these topics throughout the country. He received the Credit Ambassador Award in 2013 from the NACM of Oregon.

MAY/JUNE 2016 PAGE 23

Membership news

NACM Connect New Members and Representatives New Members

John Brennan, CCE Ortho Clinical Diagnostics

Martine Dyer, CBA ACCO USA

John Hisel Talan Products, Inc.

Dino Romano BC Technical

Marc Wolf TriMark Marlinn Corporation

Jason Woods Carlton Technologies

Mary Higgins Wacker Neuson Corporation

Charlene Mauck Don Stevens, LLC.

Eric Wennerstrom XCED Aviation

Amy McDowell EPI Printers, Inc.

New Representatives

Linda Burbank French Gerleman

Constantine Marinis BASF Admixtures, Inc.

Kevin Halek Imperial Pools

Tammy Louis BASF Admixtures, Inc.

Melissa Rivera Berlin Packaging

Louis Carso BP Products North America, Inc.

Chad Nicoletti MFS Supply LLC

Brian Atteberry BSH Home Appliances Corporation

Keith Halcomb National Lime and Stone Co.

Jen Sheehy CB Manufcturing & Sales Co.

Michele Donnelly NGK SPARK PLGS (U.S.A.), INC.

Michelle Studer HD Supply - Construction & Industrial

Terri Tubbs Herman Miller Inc. Deb Upah Iowa Premium Beef, LLC Tae Kim Nichia America Corporation Jere Hood NiSource Jeff Clark Paychex Darren Smith Select Sound Service Sandy Tymoski The Brain Lumber Co. Dawn Arnold Toba Inc. DBA The Thompson Company Janet Henseleit Vulcraft - Division of Nucor Lloyd Gerber Weiss - Rohlig USA, LLC Tom Scrupss Wilbur-Ellis

Congratulations to the 2016 Robert L. Vodraska Scholarship Award Recipients Michelle Baur Paychex

Michaela Johnson Lozier Corporation

Wanda McPhillips, CCE, CICP GLR Board / Faculty

Nedra Ware-Hood School Health Corp.

Susan Causby UPM Raflatac (North Carolina)

Clare Jones Northwest Electrical Supply

Susan Mielke Brook Electrical

Alexander Weed American Railcar Leasing

Myra Grotjahn-Kingstad, CCE Walter US

Penny Jones Dicksons Gifts

Cheryl Modzel Rochester Lumber

Natalie Woods Medela

Dan Hartmann, CBA LeFarge

Anitra Howard Scholle IPN Packaging Inc.

Jeff Pilarchik Mirabito Energy

Ana Hermosillo Klein Tools

Robin Jakubowski Learning Resources

Lenore Varey Fellowes

THE INTERCONNECTION

MAY/JUNE 2016

PAGE 24

news

NACM Southwest Collections Monthly Giveaway Winners Congratulations to the February and March winners of the NACM Southwest Collections and NACM Connect Monthly Giveaways. The winners for the Great Lakes Region

are listed below. The May giveaway is a $50 Old Navy gift card and the prize for claims placed in June is a $50 gift card to The Cheesecake Factory. Each claim you place with NACM

February Winners

Southwest Collections during these months will be eligible for one entry into the drawings. Please support this important partner! ■

March Winners

$50 Banana Republic Gift Card

$50 Chili's Gift Card

Great Lakes Region Howard Minnick, Asons

Great Lakes Region Kathy Conover, Aaron Yorks A/C Inc.

June Giveaway

May Giveaway

Gateway and Upstate New York Regional Offices Move to New Locations Both the NACM Gateway Region and the NACM Upstate New York Region offices have moved recently. Please note the new addresses: • NACM Gateway Region 12101 Woodcrest Executive Drive, Suite 145 Creve Coeur, MO 63141 • NACM Upstate New York 5500 Main Street. Suite 309 Williamsville, NY 14221

New NACM Upstate New York Region Offices. New NACM Gateway Region Offices.

THE INTERCONNECTION

MAY/JUNE 2016 PAGE 25

NACM Connect

UCC Services

Securing Your Tomorrow ®

Minimize your risk and stress when extending credit. Through the cost-effective UCC process, we can help secure your equipment, inventory and receivables – and prevent loss when the unexpected happens. “How can I reduce my risk when extending credit?” A UCC filing elevates your status to a secured creditor and protects you in the event that your customer defaults or files for bankruptcy.

UCC FILING SERVICES Our UCC Services Group experts provide assistance in the preparation, filing and maintenance of UCC Financing Statements.

UCC MONITORING SERVICES UCC monitoring service is a simple and effective method of tracking your current UCC filings to eliminate accidental lapses.

CORPORATE MONITORING We offer a corporate monitoring option that will alert you of changes to a registered entity.

BANKRUPTCY MONITORING We offer a bankruptcy monitoring option that will alert you if your customer files for bankruptcy protection.

With guidance from our experienced and knowledgeable team, your company can successfully navigate through the complexities of UCC filing. For more information: Call 800-826-5256 or email SecureYourTomorrow@ncscredit.com THE INTERCONNECTION

MAY/JUNE 2016

PAGE 26

News

2016 Top Ten Reasons to Work in Credit Revealed at Annual Meetings It's here! After collecting hundreds of entries from NACM Connect members across all eight states, the 10 best and funniest reasons were selected for the this year's "TopTen" tee shirt. Every attendee at the 2016 NACM Connect Annual meetings will receive this limited edition shirt, sponsored by Dun & Bradstreet.

4. Every salesperson becomes your best friend when they need an order released. 5. Your job is safe....NO body else wants YOUR job!!! 6. You do precision work, based on unreliable data, provided by those of questionable knowledge.

If you haven't already, be sure to attend your local Annual meeting to take advantage of the educational opportunities, connecting with other credit professionals and of course, to get your "Top Ten reasons to Work in Credit" tee shirt!

7. Because “Miracle Worker” isn’t an official job title. 8. Because “Credit” is easier to spell than Obstetrician. 2. You get to hear people’s life story, whether you want to or not.

This 2016 Top Ten reasons to work in Credit are:

9. Working in credit is like a box of chocolates...you never know what you’re going to get.

3. Kredit is King.

1. You get to hear the most creative excuses for not being able to pay the bills.

10. 5 C’s: Credit Hold, Collection, Claims, Conflict, CASH IN ADVANCE! ■

Caine & Weiner Monthly Giveaway Winners Congratulations to the February and March winners of the Caine & Weiner and NACM Connect Monthly Giveaways. The winners for each region are listed

below. The May giveaway is a $50 Old Navy gift card and the prize for claims placed in June is a $50 gift card to The Cheesecake Factory. Each claim you

February Winners

$50 Banana Republic Gift Card Omaha Brian Chambers, Sysco Lincoln Wisconsin Kate Cantrall, Waukesha Bearing Co. Gateway Region Kristine Derigne, RSI Kitchen & Bath Upstate New York Mike Tanea, Admar Supply Midwest Diane Smith, Cortz in the Swim

May Giveaway

THE INTERCONNECTION

place with Caine & Weiner during these months will be eligible for one entry into the drawings. Please support this important partner! ■

March Winners

$50 Chili's Gift Card Omaha Wisconsin Gateway Region Upstate New York Midwest

Kathleen Reynolds, Dultmeier Sales Dawn Combs, Uline Staci Cima, Crescent Parts & Equipment Darren Evans, Ivoclar Vivadent Tammy Zeko, VCNA Prairie Material

June Giveaway

MAY/JUNE 2016 PAGE 27

NACM Connect

Deduction Strategies for Protecting Profit Margins Thursday, May 12, 2016 10 am - 11:15 am CT About the Webinar

In today’s business environment, companies are focused more than ever on profits and protecting their bottom line. Effective deduction strategy can either enhance or detract from your company’s current and future revenue. In this webinar, we’ll review strategies and techniques to minimize the negative effect of deductions and finding balance in our approach with our customers. We’ll also review deduction categories, applicable strategies for each group, and obstacles that prevent us from being successful. During this 75-minute webinar you will: • Learn the importance of developing measurements and strategies for dealing with deductions • Hear proactive approaches to reducing future deductions • Get tips for overcoming the greatest barrier to successful deduction management

About the Presenter

WEBINAR

The Bottom Line:

Diana Crowe Since joining IAB in 1995, Diana Crowe has served in many capacities, both in operations and corporate. She presently serves as Manager of Business Development. Diana holds a B.S. degree in Management. Along with her education, she has extensive experience in accounts receivable, including credit management, collections, and deduction experience in a multitude of industries. In addition to her operational experience, Diana has a strong background in training and Human Resources. She served as Corporate Trainer at IAB and also served as an online instructor for a Deduction Management Course offered through the Credit Research Foundation. Along with being a regular presenter at IAB’s annual meetings, she has provided on-site training in a wide variety of subjects for IAB’s clients and various trade groups.

WEBINAR REGISTRATION

Participation points are available for this webinar.

Date Thursday, May 12, 2016

Time (Note your time zone) 11 a.m. — 12:15 p.m. ET 10 a.m. — 11:15 a.m. CT 8 a.m. — 9:15 a.m. PT

Cost (per connection) $99 - Member, $198 - Nonmember (Only one coupon will be accepted)

Name_______________________________________________________________ Member #____________________________________________ Company___________________________________________Address________________________________________________________________ City____________________________________________ State _________________________ Zip_________________________________________ Phone ________________________ Fax _________________________ Email _______________________________________________________ Mobile __________________________________________________________________________ Do you accept text messages?

qYes qNo

All payments must be made prior to receiving link for the webinar. qCheck—Payable to NACM Connect and mail to: 3005 Tollview Drive, Rolling Meadows, IL 60008 qCredit card—Pay by phone upon receipt of invoice: 1-800-935-6226. qPlease invoice me. qI’m using a coupon for this event. Cancellation Policy: Cancellations must be received in writing, via fax, email or mail, no later than two weeks prior to the event date to qualify for a full refund. Cancellations received later than two weeks prior to the event date do NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. If you have any questions, please email info@nacmconnect.org.

Email this form to registration@nacmconnect.org or fax to 847.253.6241. You will be invoiced shortly. THE INTERCONNECTION

MAY/JUNE 2016

PAGE 28

NACM Connect

Wednesday, June 8, 2016 10 am - 11 am CT About the Webinar

WEBINAR

Consignments: Recent Developments and Common Pitfalls

Disputes regarding the validity and enforcement of consignments have become front and center in several recent high-profile bankruptcy cases, including The Sports Authority and Hancock Fabrics. In these cases, Chapter 11 debtors have taken aggressive positions against consignors, using various provisions of the Uniform Commercial Code to invalidate or subordinate the rights of consignment vendors, thereby depriving those vendors of the very rights they bargained for in the first place. During this 60-minute webinar, Thomas Fawkes and Brian Jackiw, Partners with the law firm of Goldstein & McClintock LLLP, will discuss these recent developments in consignment law, and will analyze the common mistakes that consignors make when negotiating their supply agreements and perfecting their consignment rights. Thomas and Brian will also provide participants with guidance on how to properly perfect consignment interests under relevant state laws, and on how to stave off attempts by debtors or competing creditors to prime their consignment rights.

About the Presenters Thomas Fawkes

Tom is a partner with the law firm of Goldstein & McClintock LLLP in its Chicago office. Tom focuses his practice on bankruptcy, creditors’ rights and financial restructuring matters, representing official committees, unsecured and secured creditors, debtors, financial institutions, post-confirmation trustees and asset purchasers in chapter 11 and 7 bankruptcy cases, out-of-court restructurings, and liquidation proceedings throughout the United States. Tom also assists his clients in structuring commercial transactions with a view towards mitigating risk of future bankruptcy and insolvency losses.

Brian Jackiw

Brian is a Partner with the law firm of Goldstein & McClintock in its Chicago office. Brian is experienced in bankruptcy and commercial litigation, having represented plaintiffs and defendants in avoidance actions, complex bankruptcy claim disputes, breach of fiduciary duty actions and bankruptcy fraud litigation. Beyond litigation in the bankruptcy courts, Brian has experience in general collection and commercial law litigation. Brian has also spent significant time advocating on behalf of general unsecured creditors through his representation of official committees of unsecured creditors.

REGISTRATION

Participation points are available for this webinar.

Date Wednesday, June 8, 2016

Time (Note your time zone) 11 a.m. — 12 p.m. ET 10 a.m. — 11 a.m. CT 8 a.m. — 9 a.m. PT

Cost (per connection) $99 - Member, $198 - Nonmember (Only one coupon will be accepted)

qYes qNo

Email this form to registration@nacmconnect.org or fax to 847.253.6241. You will be invoiced shortly. THE INTERCONNECTION

MAY/JUNE 2016 PAGE 29

NACM great lakes Region

“Each roundtable permits me to interact with local credit managers and learn. I find this process to be invigorating, having new perspectives on common problems”.

–Richard Steele Kellwood Company, LLC

2016 NACM Great Lakes Region

May Roundtable Discussion

NACM CREDIT REPORTING Moderator: Jim Kelly, NACM Connect

Come and share your ideas and suggestions while networking with other NACM Connect members to find solutions to your credit reporting

issues and challenges

Getting calls from companies you never heard of selling credit reports?

Looking for more cost-effective credit report solutions?

Looking for information regarding credit reports and trends?

Using just one credit reporting agency for your credit reports?

Do you have situations where you can’t find any credit information on a company?

Looking for a one-stop shop for your credit report needs?

Wednesday, May 4 12:00 p.m. - 2:00 p.m.

Location: NACM Great Lakes Region Office 41 White Allen Ave. Dayton, OH 45405

CEU points and CCE recertification points are available for this meeting.

Cost per Meeting

$30 members, $60 non-members. One coupon per person is valid. Lunch included. Name ___________________________________________________________ Company __________________________________________ Please write your name as you would like it to appear on your name badge.

Address____________________________________ City _______________________________________ State ________ Zip_____________ Phone______________________________________ Fax ______________________________Mobile ________________________________ Email______________________________________________________________________ Do you accept text messaging? qYes qNo

q q q q

Check enclosed—(payable to NACM Connect) mail to: 3005 Tollview Drive, Rolling Meadows, IL 60008 Credit card—Pay by phone upon receipt of invoice: 1.800.935.6226 Please invoice me. Coupon—Limit one coupon per member.

Indiana - Michigan - Ohio

All payments must be received one week prior to meeting start date. Cancellation Policy: Cancellations must be received in writing via fax, email or mail no later than one week prior to the meeting date to qualify for a full refund. Cancellations received later than one week prior to the meeting date DO NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. If you have any questions, please email info@nacmconnect.org.

Email this form to registration@nacmconnect.org or fax to 847.253.6241. You will be invoiced shortly. THE INTERCONNECTION

MAY/JUNE 2016

PAGE 30

NACM Upstate NY

Each roundtable permits me to interact with local credit managers and learn. I find this process to be invigorating, having new perspectives on common problems.

–Richard Steele Kellwood Company, LLC

Eastern/Western New York

2016 Roundtable Discussion Series Moderator(s) to be announced.

Managing Deductions q q

Buffalo - August 17th q Rochester - August 18th q

May 18th - Buffalo May 19th - Rochester

Best Practices Opening New Accounts

q q

Ways to Reduce DSO Buffalo - October 19th q Rochester - October 20th q

June 15th - Buffalo June 16th - Rochester

Using Collection Agencies

q q

Is 60 days the new 30 days

Technology in the Credit World Buffalo - November 16th q Rochester - November 17th q

July 20th - Buffalo July 21st - Rochester

Please select each meeting you plan to attend. All meetings are from 9 – 10:30 a.m. Buffalo Location:

Original Pancake House 5479 Main St. Williamsville, NY 14221

Rochester Location:

International House of Pancakes 556 Jefferson Road Rochester, NY 14623

Cost per Meeting

$25 members, $50 non-members, one coupon per person is valid. Breakfast Included. CEU points and CCE recertification points are available for this meeting.

Name ___________________________________________________________ Company _________________________________________ Please write your name as you would like it to appear on your name badge.

Address____________________________________ City ______________________________________ State ________ Zip____________ Phone_____________________________________ Fax ______________________________Mobile ________________________________ Email______________________________________________________________________ Do you accept text messaging? qYes qNo

q q q q

Email this form to registration@nacmconnect.org or fax to 847.253.6241. You will receive an invoice shortly. THE INTERCONNECTION

MAY/JUNE 2016 PAGE 31

NACM midwest

Credit 101, Credit 102 & Credit 103 2016 REGISTRATION FORM Location: NACM Midwest

3005 Tollview Drive

Rolling Meadows, IL

Time: All classes are from 9 a.m. – 4 p.m. (Continental breakfast served at 8:30 a.m.) Cost: Members $230 (per class)

Non-Members $460 (per class)

Please register me for:

CREDIT 101

CREDIT 102

CREDIT 103

q June 8

q July 13

q August 3

q October 5

q November 9

q December 7

Name__________________________________________________________________________________________Designation(s) _______________ Please print name as you would like it to appear on your name badge.

Company Name ______________________________________________________Address________________________________________________ City ________________________________________________________________________ State ______________

Zip______________________

Phone ________________________________________________________ Fax ________________________________________________________ E-mail _____________________________________________________________________________________________________________________ Mobile ____________________________________________________________________________ Do you accept text messages?

qYes qNo

PAYMENT METHODS Online registration is available on www.nacmmidwest.org/chicago

All payments must be received one week prior to event date. q q q q

Check enclosed—(payable to NACM Connect) mail to: 3005 Tollview Drive, Rolling Meadows, IL 60008 Credit card—Pay by phone upon receipt of invoice: 1.800.935.6226 I will be using _____ coupon(s). Please invoice me.

Please Note:

• • • •

“No Shows” will be responsible for full amount Maximum two coupons will be accepted Classes subject to cancellation based on enrollment 0.6 CEUs available

Cancellation Policy: Cancellations must be received in writing (via fax email or mail) no later than one week prior to the class date to qualify for a full refund. Cancellations received later than one week prior to the class date do not qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. If you have any questions, email info@nacmconnect.org.

Email this form to registration@nacmconnect.org. You will be invoiced shortly. THE INTERCONNECTION

MAY/JUNE 2016

PAGE 32

NACM Midwest - Wisconsin

Each roundtable permits me to interact with local credit managers and learn. I find this process to be invigorating, having new perspectives on common problems.

–Richard Steele Kellwood Company, LLC

2016 Wisconsin

May Roundtable Discussions

The 5-Minute Credit Decision...

How To Make Credit Decisions Under Pressure Facilitator: Frank Schetski (NACM Connect)

Fox Valley

Wednesday, May 25

8:15 a.m. - 10:00 a.m (breakfast)

Location: Perkins Restaurant 3030 East College Avenue (Hwy 441 at East College Avenue exit)

(Appleton, WI 54915)

CEU points and CCE recertification points are available for this meeting.

Cost per Meeting

$25 members, $50 non-members, one coupon per person. Name ___________________________________________________________ Company __________________________________________ Please write your name as you would like it to appear on your name badge.

Online registration is available on www.nacmmidwest.org/milwaukee q q q q

Email this form to registration@nacmconnect.org. You will be invoiced shortly. THE INTERCONNECTION

MAY/JUNE 2016 PAGE 33

NACM great lakes region

Credit 101, Credit 102, & Credit 103 Time: All classes are from 9 a.m. – 4 p.m.

(Continental breakfast at 8:30 a.m., lunch included with full day classes)

Cost: Members $189 (per class)

Non-Members $378 (per class)

2016 REGISTRATION FORM Please register me for:

CREDIT 101

CREDIT 102

CREDIT 103

Mid City Supply Co. Inc., 940 Industrial Pkwy. Elkhart, IN 46516 (Conference Room)

--------------------------

qMay 3, 2016

Indianapolis, IN:

Roche Diagnostics 9115 Hague Road, Building H3 Indianapolis, IN 46256

--------------------------

qMay 13, 2016

qJune 24, 2016

Detroit, MI:

AK Steel Corp-Dearborn Works 14661 Rotunda Dr., Lobby A Dearborn, MI 48121

Elkhart, IN:

--------------------------

qSeptember 28, 2016 qOctober 26, 2016

qMay 12, 2016 qNovember 10, 2016 qMay 25, 2016 qNovember 30, 2016

Cleveland, OH:

Lakeside Terrace Community Center 9140 Sandpiper Dr. Streetsboro, OH 44241

qJune 8, 2016

qJuly 13, 2016

qAugust 3, 2016

Columbus, OH:

Star Leasing 4080 Business Park Dr. Columbus, OH 43204

qAugust 9, 2016

qSeptember 13, 2016

qOctober 11, 2016

qMay 12, 2016

qJune 23, 2016

Grand Rapids, MI:

Dayton, OH:

The Highlands Golf Club 2715 Leonard St. NW Grand Rapids, MI 49504

qSeptember 15, 2016 --------------------------

NACM Great Lakes Region Office 41 White Allen Ave. Dayton, OH 45405

--------------------------

qOctober 13, 2016 --------------------------

Name__________________________________________________________________________________________Designation(s) _______________ Please print name as you would like it to appear on your name badge.

Zip______________________

qYes qNo

PAYMENT METHODS All payments must be received one week prior to event date. q q q q

Please Note:

• • • •

Payment must be received one week prior to class start date “No Shows” will be responsible for full amount Classes subject to cancellation based on enrollment 0.6 CEUs available

Cancellation Policy: Cancellations must be received in writing (via fax email or mail) no later than one week prior to the class date to qualify for a full refund. Cancellations received later than one week prior to the class date do not qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. A 20% surcharge applies to late registrations and rebooking. If you have any questions, email info@nacmconnect.org.

Email this form to registration@nacmconnect.org. You will receive an invoice shortly. Online registration is available at www.nacmgreatlakesregion.com

THE INTERCONNECTION

MAY/JUNE 2016

PAGE 34

NACM Midwest - nebraska

Business Credit Principles Business Credit Principles provides a fundamental understanding of business credit procedures and policy. This class will also give students information about credit investigation and evaluation along with an overview of legal issues affecting the extension of commercial credit.

The following topics will be covered: • • • • • • • • •

Credit in the business world Credit in the company Organizing the credit department The legal environment of credit Credit policy and procedures Terms and conditions of sale Negotiable instruments The legal forms of business The uniform commercial code

Instructor John Jaeger, CCE

• • • • • • • • • • •

Credit investigations Know your customer Making credit decisions International trade Financing and business insurance Business credit fraud Credit availability decisions Customer visits The credit-sales partnership Out-of-court settlements Bankruptcy code proceedings

NACM Connect Institute of Credit

Four-Day Certification Course

REGISTRATION DEADLINE: MAY 6, 2015 Dates Monday, May 16—Thursday, May 19 Time 8 a.m. – 5 p.m.

Location Purina - Lincoln Operations Office 5500 North Cotner Blvd Lincoln, NE 68507

(Off Cornhusker Highway in northeast Lincoln under the large grain elevator)

Cost $450, member (plus $80 textbook fee) Only two coupons per person are valid.

$900, non-member (plus $160 textbook fee)

Hotel Accommodations Please contact Frank Schetski (NACM Connect) at frank.schetski@nacmconnect.org for nearby hotel and rate information. Name_______________________________________________________________ Member #_______________________________ Please write your name as you would like it to appear on your name badge.

Company_____________________________________________________________________________________________________ Address______________________________________________________________________________________________________ City____________________________________________ State _________________________ Zip ____________________________ Phone ___________________________________________

Fax ______________________________________________________

Mobile ___________________________________________________________

Do you accept text messages?

Yes q

No q

E-mail _______________________________________________________________________________________________________

q q q q

Check enclosed—payable to NACM Connect) mail to: 3005 Tollview Drive, Rolling Meadows, IL 60008 Credit card—Pay by phone upon receipt of invoice: 1.800.935.6226 Please invoice me. I am using ___ coupon(s) for this event.

All payments must be received one week prior to class start date.

NACM MIDWEST Illinois

Nebraska

Wisconsin

NATIONAL ASSOCIATION OF CREDIT MANAGEMENT An NACM Connect Company

Cancellation Policy: Cancellations must be received in writing, via fax e-mail or mail, no later than two weeks prior to the event date to qualify for a full refund. Cancellations received later than two weeks prior to the event date do NOT qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. If you have any questions, please email info@nacmconnect.org.

Email this form to registration@nacmconnect.org or fax to 847.253.6241. You will be invoiced shortly. THE INTERCONNECTION

MAY/JUNE 2016 PAGE 35

NACM Gateway Region | NACM Great Lakes Region | NACM Midwest | NACM Upstate New York

The InterConnection

800.935.NACM

Stay Connected

In June 2016, NACM will host the 120th Credit Congress & Expo at the magnificent Caesars Palace Las Vegas. Come be a part of this grand tradition of education, professional development and camaraderie among business credit professionals from around the world. Visit creditcongress.nacm.org for registration and program details.