Serving credit professionals everywhere...since 1899
Monthly news & updates
August 2020
Welcome Message from our President & CEO, Jon Flora
Upcoming Events
See what's happening this month...and beyond
Industry Groups

NOTE: All Group meetings are being conducted online until the Coronavirus subsides.


Puget Sound

Thursday, 8/13
11:30 Floor -- ONLINE

Tuesday, 8/18
11:30 a.m. HVAC -- ONLINE

Wednesday, 8/19
11:00 Tacoma Construction -- ONLINE
1:00 Food -- ONLINE

Thursday, 8/20
11:00 Eastside Construction -- ONLINE
1:00 Wholesale Electric -- ONLINE

Alaska

Wednesday, 8/19
1:00 (AKDT) Alaska Suppliers -- ONLINE


Hawaii

Tuesday, 8/18
11:30 (HST) Hawaii Hospitality -- ONLINE

Tuesday, 8/21
11:30 (HST) Hawaii Building -- ONLINE

Education and Events

Efficiency Requirements:
The New Normal of Accepting Payments - Contactless Payments
July 14 @ 9:00 a.m.

Monthly Webinar: Bankruptcy Lawa for Businesses
July 23 @ 12:00 p.m.

Microsoft Office Training
Multiple dates; see below

Conferences

Las Vegas - Online through August

A PERFECT MATCH

The tools you need at the right price,
with service from NACM BCS:

  • Credit Reports
  • Portfolio Scoring
  • Alerts

Call us today at 800-423-5710
Covid Updates from region
Click the links below for the latest Covid news

Washington

  • As the Governor is making continual changes to the COVID rules, here's a list to the full list of current directives: COVID Guidance

Alaska


Hawaii:

New Tools for the Future
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Scholarships & Internships
NACM BCS will soon be launching a new scholarship/internship program for college students pursuing careers in finance. The mission of the program is to encourage the next generation to consider credit as a profession or certainly make it part of their future career.

NACM BCS is targeting selected college Juniors and Seniors for an investment in scholarship dollars. To make this work, we need some member companies to step up with paid internships. Given COVID, we're aiming for an inaugural group during the Spring Term in 2021.

Although we will focus on Washington, Alaska and Hawaii, we have a unique ability to have relationships with colleges and universities just about anywhere. If you have branches in other states, we will consider them. So don't limit your thinking by geography.

If your company is interested in participating, please drop a line to our President, Jon Flora, at: jonf@nacmbcs.org.
New Lien Services
In response to several requests, we have established a new subsidiary to handle your lien needs. We have invested in BCS Lien Services in order to bring you help when it's proving to be a struggle to get paid. Our rates are reasonable and having it come from our association gives you comfort in knowing NACM BCS is behind it. For more information, please contact Paul Krause at 206-728-6324 or drop an email at:

Do you have a bankrupt customer?
Sometimes when a company gets in trouble, receivership is an excellent option for giving the business a hope for the future. NACM BCS has partnered with Restructure Inc., a court-appointed receiver, to help guide an entity to a better option than just folding their tent and giving up. Backed with excellent legal counsel, Restructure Inc. can also work through the process to help you get paid. For more information on receivership services, please drop an email to:

Re-thinking Customer Engagement
The pandemic is causing us to look for new ways to enhance our business and our customer service. Comcast Business recently posted this article that is quite helpful. Although it certainly is written to promote their business, we saw good ideas that you might find useful.

Small Business Pulse Survey
The Census Bureau recently conducted a survey that offers a snapshot on how the Coronavirus pandemic has affected small businesses across our nation. More than 215,000 small businesses participated between April 26 and June 29. The interactive results can be seen by clicking below.

Education
There is no cost to attend, but registration is required. Login information will be sent upon completed registration
Presenter: Michelle Herman, Consultant
Los Angeles, CA

Cut through the smoke and mirrors of Robotic Process Automation and Artificial Intelligence – what they mean, how they could help your business, why they are essential to implement today, and what happens if you don’t.

September 3 @ 12:00 PM - 1:00 PM
According to a survey by McKinsey, 80% of organizations have already implemented Artificial Intelligence (AI) in some form or are piloting it. These implementations are also starting to radically transform the credit department.

Unfortunately, most of the conversation around automation has centered around concerns over potential job loss.

Join Michelle Herman, a 25+ year veteran in the credit industry as she debunks the job-loss myth, shared real-world success stories of AI in the credit department, and helps you understand how you can prepare for the digital transformation regardless of where your company is in the process.

Key-takeaways:

Understand the fundamentals of AI and RPA in non-nerdy terms:
  • Visualize how the credit team could play a more strategic role in the finance department
  • Watch how AI and virtual assistants could fundamentally transform a credit analyst’s role
  • Learn about the tools available to prepare for AI adoption in your company
The Credit Roundtable Returns!

"I've just lost my job. Now what?"
You've just been told you're no longer needed. Layoff, furlough, termination. After the initial panic, now what do you do? If you're like most people, the clock starts ticking right away so you need to get started searching for your next role. 

Join Jon Flora and his guest, Thea Dudley, for some tips on how to manage your life after a job loss and how to look for your next position.
Summer School continues
Thanks to popular interest, Microsoft Office 365 training continues this month with Excel and OneNote offerings.

Stay up on the latest tools that make you and your office efficient. For more information, click on the link below to our Event Calendar.

Online Conferences
Regional Business News
Why did it take more than 2 months to stop the largest fraud in Washington state history?
Revelations last week that this spring’s $576 million unemployment fraud, the largest in state history, started much earlier than previously acknowledged have spurred a storm of new questions over the handling of the crime.

The Seattle Kraken has made monster sales
Hockey cards, T-shirts and even libations. There’s been no slowing the Seattle Kraken down when it comes to getting fans to part with their money in the name of all types of merchandise.

Construction helps drive local economy in tourism's absence
Driving the local construction industry are big construction, architectural and engineering companies, and big local spenders like the U.S. Department of Defense, the state government and the City and County of Honolulu.

Construction is the only major Hawai‘i industry doing all right.

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Alaska's tech industry booms
Despite the widespread economic uncertainty in 2020 due to the COVID-19 pandemic, Alaska continues to redefine itself and set new trends as an emerging tech hub, with 38% growth in year-over-year digital entrepreneurship.

Holland America sells 4 cruise ships, will sail only 2 from Seattle when cruising resumes
Seattle-based (and NACM BCS member) Holland America Line has sold four cruise ships as part of parent company Carnival‘s downsizing in the wake of a disastrous downturn for the industry during the pandemic.

Only two Holland America ships — the larger Eurodam and Oosterdam — will sail from Seattle when cruising resumes, down from three last year.

The High Cost of California Electricity Is Increasing Poverty

New restrictions on natural gas will increase electricity costs, making the problem worse.
California has the highest poverty rate of any state in America. 18.1% of the state’s residents are living in poverty. A growing element of this problem is the cost of electricity; rising electricity prices disproportionately impact lower- and middle-income families who lack the disposable income to absorb the extra costs.

Restrictions on natural gas use will result in even-larger energy bills for California residents and further exacerbate the state’s poverty problem. And Washington is considering this same model.

Out of state company will take over some RavnAir service after bankruptcy auction
Alaska’s largest rural air carrier will be broken up and its airplanes, ground equipment and licenses sold to different companies, some outside Alaska.

A Southern California firm, FLOAT Shuttle, has bought six of RavnAir Group’s largest planes and its Part 121 operating certificates, which would allow it to resume regional air service in rural Alaska.

Careers and Employment
Looking for a job or trying to fill a position in your company?
Take advantage of the Job Center at nacmbcs.org. You will find current listings as well the opportunity to post your openings. It's a free service that comes with membership in NACM BCS.

Maintaining your company culture while working remotely
Even if your business made a smooth transition to a near 100-percent telework environment, or is in the process of doing so, there is more to managing your business during COVID-19 than distributing laptops, cameras and holding client-focused Zoom meetings.

Accountingweb.com, a publication for CPAs, offers some insights to this issue that impacts every company. Click below.

Career Advice: You quit, burned a bridge and now need a reference
Everyone makes mistakes, has occasional employment issues, or is facing some kind of COVID challenge. Learn from others.

This Q & A might be helpful.

In memorium
Anna Bope
Retired from H.D. Fowler Co.
We were saddened to learn of the passing in early July of our long-time member and friend, Anna Bope CCE. A credit executive with H.D. Fowler, she served nine years as an NACM BCS Board Director and was Chair from 1997 to 1998. She received our association’s highest honor as “Credit Executive of the Year” in 1999. Anna was also active on our Orchid Auction Committee, the fund-raising activity that set the basis for today’s Business Credit Foundation and raised funds for our scholarship awards program. She was also active in our legislative outreach efforts attending hearings in our State Capital that ultimately helped pass critical credit-related legislation that we all benefit from today.

Anna was an active member of the Seattle CFDD chapter for more than 23 years. She served on its Board and in all leadership positions culminating with her service as Chapter President in 1988-89. Anna received the chapter’s highest honors of “Distinguished Member of the Year” (1990) and as “Honorary Member” (1997). Her CFDD service also included involvement at the National level serving on the Construction Practices Committee and lead Industry Days for the construction industry.

Anna dedicated nearly her entire professional career to the success of educating NACM and CFDD members mentoring many of our members who are now veterans in the own right.

We extend our condolences to her family and loved ones. We also take this opportunity to salute her for her great works on behalf of our profession and our association.  
Chuck Monson
Retired President, NACM Inland Northwest


Just as we were about to send this, we received word of the passing of Chuck Munson, retired president of NACM Inland Northwest. He passed away on Monday, July 27th. He not only served as the affiliate leader but also shared many years of leadership through his service on the NACM Affiliate Council, including service as Council Chair.

Chuck also served as the Chair of our NACM BCS Board during his employment with PACCAR in Bellevue, WA.

When Chuck was diagnosed with liver cancer in April, it was too advanced to treat. Although he spent some time in the hospital, Chuck died at home in Spokane, under the care of hospice.

We offer our condolences to Chuck's family. If you would like to join us, you may send expressions of sympathy to his wife, Doris, and family at:

Doris Monson & Family
4521 East 56th Avenue
Spokane, WA 99223

Making the best of out a pandemic
Light hearted thoughts from your association staff
Our NACM BCS staff continues to try find something to do to smile or break the monotony of this long nightmare. Here's the latest of what we're doing to get through this COVID thing. We invite you to just us in trying some of these!

Pick berries. Blackberries are in season in the northwest. Grab a bucket, pull off to the side of the road, and pick enough for a pie. Or a blackberry cocktail. The berries are everywhere.

Float a river in an inner tube. One of our team members decided to jump in the Yakima River for the first time in many years. He seems to have forgotten he was in high school the last time he did this and that the river is fed by snowfall in the Cascades.

Have a baby. This one is a little drastic but it does cause a focus on something other than COVID.

Go fly a kite. It's actually really fun. All you need is an open space or beach with a breeze. Plus, you can sing a song from Mary Poppins.

Place a bet in the office baby pool. When a colleague decides to go the drastic route, the rest of the group has to be supportive by placing bets on when the little cherub will arrive. It's a great teambuilder.

Drop a crab trap. If you're in the Puget Sound area, it's crabbing season and there's nothing better than a fresh Dungeness Crab. Of course, you can go to a market but pulling one of the water is a great experience.

Buy a house. Not quite as drastic as having a baby, one of our people decided it was time to buy a house, pack up and move. They are so many better things to do than moving...but to each his own.

Re-side a house. Analogous to "paint the ceiling beige", quarantining apparently convinced one of our folks that it was time to get new siding for their home. This suggests that some of us may be getting desperate.

Go whale watching. You can always tell when the fish are running: the J-pod of Orcas shows up! Viewing them is best done in a boat to or from a fine place like The Tides Tavern in Gig Harbor, WA.

Celebrate winning the Baby Pool. This hasn't happened yet but someone will be very happy soon.