Wednesday
10:00 – 11:15 a.m.
Eye on the Hill: Legislative Updates on Credit Issues
Deborah L. Thorne
Barnes & Thornburg LLP
Nearly four years after major revisions to the Bankruptcy Code were signed by President George W. Bush, a new administration and Congress are in Washington, D.C. What revisions to the Bankruptcy Code and other business laws are on the horizon? Who are the major players and what are they lobbying for in 2009? This session will look at the latest proposals for change being promoted by NACM, and others pushing for change in business and commercial law. This class is intended to make sure that you are ready for the next changes.
Electronic Payments
Michael Williams
American Check Management
Learn to manage your customer payments electronically with speed, accuracy, safety, reliability and savings in this interactive and informative session. Find out how your company can benefit significantly using CTX with remittance information to interface with your existing lock box process or with your internal payment posting process. Minimize your labor intensive tasks such as data entry while reducing paperwork and operating costs.
Financial Statements I
George Schnupp, CCE
Anixter
In this introductory session, we will cover an overview of the balance sheet and income statement; what assets and liabilities are typically on the balance sheet; what expense entries are on the income statement; and the relationship between the two statements. We will discuss the accrual basis of accounting, typical format of most financial statements, and the various accounting conventions that make up this accrual basis.
We will also touch briefly upon financial ratios—their meaning and interpretation. This session is geared for the credit “novitiate” who is just getting started in the art of reviewing financial statements. It will provide a “comfort level’ to those who mistakenly believe that financial analysis is beyond their scope of comprehension.
11:30 a.m. – 12:45 p.m.
Country Risk in the World Economy
Byron M. Shoulton
FCIA Management Company, Inc.
This session will provide an overview of global economic crisis with specific reference to countries that are likely to see some recovery over the next 12 – 18 months. This course will also explore the major areas that remain vulnerable, and why exports will be vital for a U.S. recovery and the reasons high inflation could be a major threat for some time to come.
PCI Compliance
Vivian Van Keuren and Matt Fluegge
Fifth Third Processing Solutions
Payment Card Industry Compliance is not a one-time event. Merchants must maintain ongoing compliance with PCI Data Security Standards and continually evaluate systems and processes to ensure you are protecting your business. If Visa or MasterCard officially identifies a merchant as having suffered a suspected or confirmed data breach the following costs will be assessed:
- Forensic Audit Expense
Cost associated with the mandatory third party forensic investigation required by the card associations for suspected or confirmed breach. General costs range from $8,000 – $20,000 for Level 4 Merchants involving a single location.
- Association Fines
Association non-compliance fines are assessed depending on the size of business and circumstances that led to the breach. General fines range from $5,000 – $500,000.
There are even more expenses assessed with Compromise Recovery Costs. This session will explain what you need to do to assure that your business is meeting the standards.
Financial Statements II:
Understanding and Interpreting Green Operating Results
George Schnupp, CCE
Anixter
The analysis of financial statements consists of a mixture of steps and pieces that interrelate and affect each other. No single part of the analysis should be interpreted in isolation. The specific conclusions drawn will be affected by the original objective established at the initiation of the analytical process. Every aspect of a firm’s financial condition, operating performance and outlook affects the market value of its share. This session will bring light to the critical areas of analysis that are required in the credit risk assessment process and introduce the fundamentals of interpretation.
2:00 – 3:15 p.m.
Loan Covenants
Karen Drennan and Melody Hart
Composites One LLC
Companies who are not investment grade or who are non-rated typically have bank agreements that may include stringent covenants, cross-defaults, ratings triggers, or springing liens that can cause escalating credit issues for their vendors. Understanding and recognizing areas within bank credit agreements that can cause a credit issue with a customer and tracking/monitoring these companies performance against their bank agreements can help to ensure you can react quickly before losses are incurred.
Creditors’ Committees
Deborah L. Thorne
Barnes & Thornburg LLP
This session will help you make the decision as to whether you and your company should spend valuable resources sitting on an official creditors’ committee. What are the pros and cons? If you do decide to become a member of a committee, how can a committee be effective and protect the interests of unsecured trade creditors in light of the lack of liquidity in the market and the increasing number of liquidating Chapter 11 cases. The session will provide insight and a look at several cases where committees have been especially effective.
Cash Flow
George Schnupp, CCE
Anixter
Interpretation of the cash flow statement begins with the interrelationships that exist between the balance sheet (investment and financing decisions) and the income statement (operating decisions). The results of a company’s current investment decisions are seen in two key operating assets; inventory and accounts receivable. Their levels represent both investment decisions and operating decisions by management.
3:45 – 5:00 p.m.
Commercial Identity Theft/Application Fraud
Panel Discussion
Todd Fierstein, Jay Snyder, Norm Zusevics
Caine & Weiner, Shure, Inc.
Identity theft has become a significant topic affecting consumers and businesses alike. More and more business is being lost to fraud and bust out activities. Join us for a panel discussion as we share some of the best practices to identify and avoid commercial identity theft and fraud. We will discuss application processing, new account evaluations, and some interview skills that may help you keep your company from being a commercial fraud victim.
Issues in Deductions Roundtable Discussion
Phil Connor and Peggy Artz
IAB Solutions
In the world of deductions, many companies regardless of industry, face the same challenges and it is indeed a small world. Why face these issues alone? Be part of the dialogue as best practices are shared in a roundtable discussion of deductions management. This interactive session will allow attendees to share specific questions on the prevention and resolution of deductions and learn how your colleagues are handling these same issues. There is no better way to learn than by sharing with your fellow members!
Case Study
John Jaeger, CCE
Follet Higher Education Group
This session will walk through the financial analysis of a real company using the tools incorporated from prior presentations. Common sizing, trend analysis and ratio analysis will be performed to determine the company’s performance, in addition to reviewing the Z-score methodology as a means of confirming results.
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Thursday
8:30 – 9:45 a.m.
Electronic Agreements
Shelly DeRousse
Stahl Cowen
Companies’ uses of electronic communications have become commonplace in modern transactions. What used to be accomplished through in-person meetings and live inked signatures is now accomplished through the use of e-mail, facsimile, and Web sites and the Internet.
In an age where technology allows companies the convenience, cost-savings, and speed of electronic deal-making, it is important to know when such offers and acceptances through electronic medium become enforceable obligations. This session will provide an overview of the law of enforceability of electronic signatures and agreements.
Evaluating the Cost of Credit Terms
Panel Discussion
Mark Humrichouser, Bruce Skof, Jay Snyder
Shure, Inc.
A customer requests extended payment terms. Does it make good business sense? Just an extra 30 days might make a buyer happy, but what is the overall impact on the transaction? Join us for this panel discussion as we look at terms from a sales (customer), credit (risk) and finance (cost) perspective.
Collections in a Failing Economy—A Roundtable Discussion
Frank Dispensa
Caine & Weiner
This interactive session will include audience participation in bringing both questions and best practices in the art of collections to the floor. Experts will be on hand to discuss the impact the recession has had on collections activities. We will also be looking for participants to add their successes to the discussion.
This session is not only meant to help attendees learn how to be more efficient in collections, but will secondarily serve as a networking session in which you will have the opportunity to share timely information with other members.
10:15 – 11:30 a.m.
Electronic Record Retention
David Rownd
Thompson Coburn Fagel Haber
This session will address the practical and legal issues arising out of the creation, use and maintenance of electronic records in the credit and collections industry. Mr. Rownd’s presentation will include a discussion of the issues that have arisen as a result of the business community’s transformation from keeping records on paper to keeping records and communicating electronically, how these issues can impact a company in its collection efforts and litigation and strategies for creating company-appropriate records management policies, which can help companies avoid potential problems.
Sales and Credit
Mark Humrichouser, Jay Snyder
Shure, Inc.
A living, breathing organism, the sales and credit relationship is sometimes ugly and sometimes fun. Regardless, it is a critical relationship that must be monitored, fostered and cared for. Join us for a light and lively discussion on setting credit/sales personnel expectations, how to manage the inevitable conflict, and the importance of setting a unified front. This open discussion will look at the common challenges faced by both sides of the credit/sales equation.
Fraud
Lee Lovvorn
Equifax
This session will provide attendees with a high level overview of the marketplace trends that are driving and shaping the world of Business Fraud, and help you to understand the most common types of business fraud, understanding how each type is committed and the key characteristics of each type. The final portion of the presentation will focus on fraud prevention and detection, how to identify it and what can be done to reduce it’s impact on your business.
1: 00 p.m. – 2:15 p.m.
Check Fraud
William Aycox
Corrective Solutions
This session will discuss how free Bad Check Programs under the authority of over 200 District Attorneys nationwide help recover an additional 20 to 40% restitution after primary efforts are exhausted.
These programs have returned $250 million in restitution and helped turn bad check writers into good customers. The Program rehabilitates check writers through financial management classes taught by Ph.D. or Masters degree level instructors with a re-offending rate as low as 2% nationwide.
Attendees will learn how to partner with their District Attorney to recover bad check losses. These programs are easy and compliment primary recovery efforts.
Antitrust Laws for Credit Managers
Dale Joerling
Thompson Coburn LLP
This program will focus on how the antitrust laws pertain to you as a credit manager and a member of a trade association. Antitrust laws apply to credit terms and many other aspects of a credit manager’s responsibilities. In fact, credit managers are often the first line of defense in identifying potential antitrust problems. For these reasons, every credit manager should know what the antitrust laws require and how to comply with these regulations.
The session will provide a primer on the antitrust laws including the Sherman Antitrust Act, which prohibits price fixing, bid rigging and monopolization; Clayton Act, which restricts the use of tying arrangements, certain refusals to deal, and exclusive dealing arrangements; Robinson Patman Act, which prohibits price discrimination; and the corresponding state statutes. The program will feature real life examples of credit issues in the work place and allow ample time for attendees to ask any questions they may have related to antitrust issues.
In addition, the session will also explain how antitrust laws apply to trade associations and their members. Trade associations provide many valuable services, but because these organizations bring competitors together, these associations and their members must be aware of the antitrust regulations.
On March 4, 2009, the Federal Trade Commission issued a consent order with the National Association of Music Merchants that contains new guidelines for trade associations and their members for complying with the antitrust laws. The second portion of this session will examine FTC guidelines, and discuss steps that associations and members should take to avoid antitrust violations.
Measuring Effectiveness in Collections
Panel Discussion
Frank Dispensa, John Sick, Shane Stevenson,
Ernie Pudliner
Caine & Weiner, Andrew Corporation, McKesson,
Temperature Equipment Control
Join this panel in understanding how success in collection departments, as well as agencies is measured as our experts share tools employed to gauge the effectiveness of their operations.
Both in-house developed and purchased software packages and other tools will be assessed. Reporting collections metrics to management will also be explored.
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