Celebrating 120 Years
News, Information and Commentary
May 2019
Opening day of boating season - Seattle
A few thoughts from
Jon Flora, President & CEO
Does NACM education actually help?
Having spent the first 22 years of my career in private higher education, I have an over-developed need to question the real value of educational programs. This trait is exacerbated by being the son of school teacher who was (and, at 97, remains) an interested observer of modern education. 

Here at your association, we always ask the question: Is it worth a member’s time and money to participate in our programs? You and your company have limited resources. We have to be good stewards of them.
In January, one of our Hawaii Credit Forum speakers was John McCarthy, Deputy Chief of Police for the Honolulu Police Department. He did an excellent Check and Credit Card Fraud presentation. How do I know it was excellent? The attendees told me so. More importantly, I have proof.

Over the last few weeks, our association has experienced check fraud. It’s been significant with more than $50,000 in counterfeit checks. Relax. It doesn’t impact you. Its what FDIC insurance is all.

My first reaction could have been panic followed by a lot of colorful, longshoreman language. I’ll admit to some of the latter, but panic was never part of the equation. I recognized that I had just had a presentation on the subject. I had learned what to do, who to call, and how to handle it. I even reached out to Chief McCarthy for further advice. (Think about it. How often do you get to ask Hawaii 5-0 for help?!) Our experience will now become part of his presentation as he seeks to teach others. We'll probably do the same.

We are working hard on programs like this that will be of benefit to you. And, as you’ve seen, we’re trying new ways to deliver those presentations to fit today’s lifestyle. The topics are important; however, equally valuable is being introduced to the people doing the presentations. When you get a few months down the road and have need to reference something you learned, we can connect you with past speakers who always are glad to help further. NACM Business Credit Services is about education and relationships; and we definitely have both for you.

New this month, we've added a link in our Trends section to the National Debt Clock . Click on it to see what the current national debt levels are in real time . While not intended to cause hearts to skip a beat, it will give you pause to think about the Federal Government's financial commitments and how they impact you.

You'll also find a review of Legislative activities in our heritage territory. Most notably, take a look at the new taxes the Washington legislature passed.

Also, be sure to read the piece under Tax Planning . New W4 forms are coming to a payroll office near you and they are expected to be a challenge. You and your company will want to cozy up to your CPA.

Which brings us to this month’s NACM National Credit Congress. I look forward to seeing many of you in Aurora, Colorado, May 19-22. This is always the biggest educational and networking opportunity of the year. Following our long tradition, we will be kicking off the big show with our exclusive member and customer party on Sunday night, May 19 th. You will get to mix it up with fun instruction in Mixology. Learn how to make a custom cocktail tailored just to you! And maybe win a prize for your creation. Join us for the best way to kick off Congress.

Have a great, and educational month.
Member Focus: Essential Baking Co.
Seattle Business Magazine takes a look at NACM member Essential Baking Company in this Made in Washington feature . Click below to read the article.

ONLINE WEBINAR: May 23, 2019

When it’s time for your performance review, how do you communicate the successes of your credit department to your boss? During the rest of the year, how do you communicate with other departments within your company about what you're doing in credit? What are the key metrics you should be using? Our expert can help you learn what information many companies use to report their performance upwards (hint: DSO and DDSO are two of them)

Join us in welcoming Robert Schutz, long-time credit professional for the next webinar in our series.

$30 MEMBERS (per call-in line)
$79 NON-MEMBERS (per call-in line)

We encourage staffs to gather together for our webinars. Use one registration for as many people as you gather in your conference room.
12:00 - 1:00 PDT
11:00 - 12:00 AST
10:00 - 11:00 HST
1:00 - 2:00 MDT
The Credit Roundtable

The Credit Roundtable - Episode 4
Trends in Collections
Episode #4 of our new podcast begins this week featuring a discussion with Paul Krause, Collections Manager for NACM BCS. We touch on coming changes and trends impacting the Collections process.

You can listen on your computer or download to your phone and listen later on the bus, in your car, or anywhere else that’s convenient for your busy life. Give it a try!
Save the Date: September 12th
In observance of our 120th anniversary, plan to attend our new Northwest Commercial Credit Conference on September 12th. It will be an all-day event with excellent programs, including two top-rated speakers from the recent Hawaii Credit Forum.

NC3 be held at the conveniently located Airport Hilton Hotel right across the street from Seattle Tacoma International Airport.

Stay tuned for details coming soon.
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National Credit Congress
NACM invites you to retreat into the beauty and serenity of Aurora, Colorado for our 123rd Credit Congress & Exposition.

May 19-22, 2019

Immerse yourself in the conference while relaxing in the picturesque and rustic-chic atmosphere of the brand new Gaylord Rockies!

Best of all, we have our traditional member party on Sunday night that is always the best way to kick off the conference. Details will be coming soon

May 15-17; Las Vegas
The goal of CreditScape is to provide an opportunity for credit practitioners at all levels of experience and expertise to come together to solve problems and provide solutions for the real-world issues they face at work. The conference is of benefit to credit managers across the nation. Click below for more:

Credit Research Foundation Forum & Expo returns to Seattle

August 12-14
CRF is widely recognized as the foremost educational and research organization dedicated to the credit, accounts receivable and financial management community. The foundation provides access to education, research, best practices and dynamic solution sets.

The August Forum & Expo is their largest program of the year. And it will be in Seattle this year !

Topics Include:
·      Robotic Process Automation – How, where and strategic advantages
·      Blockchain/Cryptocurrency – Use in supporting contract needs
·      Payment Process Update – For A/R and A/P
·      Chapter 22s – Implications of flawed feasibility assessments
·      Credit & Other Insurance Applications – Peer discussion on use and utility
·      Customer Deductions – The new dynamics & what to know about supplier agreements
·      Economic Update – The latest update from the Federal Reserve
·      The CRF Open Forum - Real-time solutions to your pressing inquiries

To register, just click below and we'll look forward to seeing you there!

Save the Date: September 12th
NC3 is the place to be...on September 12th.

Save the date. Details coming soon.

Is his advice any good?
Many NACM members follow the advice of radio talk show host, Dave Ramsey, passionate advocate for leading a debt free life. Money Magazine looks into him and the results some Millennials are having by following his model. Click below for the story:

Seattle Times sells printing operation to fund news

NACM-member The Seattle Times is selling its Bothell printing facility and will combine efforts with its Kent facility. The money is needed as The Times deals with extreme declines in print revenue that are plaguing the entire newsgathering industry. The company now has more than 40,000 digital subscribers, more than most nonnational papers. Click below for more:


Sales of existing homes were weaker than expected in March. But behind the headline numbers, an even more disconcerting dynamic is playing out. Both the high end and the low end of the market are struggling, for completely different factors.

CNBC looks at the reasons why:


The analysis by the UK's National Cyber Security Centre (NCSC) found 123456 was the most widely-used password on breached accounts.

The British Broadcasting Company (BBC) reviews the most common and easy-to-hack passwords being used by millions. Are you one of them?


Protecting your Internet
accounts gets easier
Protecting your online accounts has become a major part of our personal and professional lives.

The New York Times takes a look at the two step option to protect you and your information. And, they explain why the majority of us don't use it. Click below to read the story re-printed by The Seattle Times:


The Alaska fishing fleet - mostly based in Seattle - could catch 85 percent more salmon this year (nearly a hundred million more) if state forecasts hold true.
That’s good news for fishermen in many Gulf of Alaska regions who in 2018 suffered some of the worst catches in 50 years.


Consumer spending surged in March, adding to the sense the economy is on strong footing, while core inflation weakened.

Read more from MARKETWATCH

State revenue is exceeding forecasts for the current year. Personal income growth leads the nation.

Read more from the State's Economic and Revenue Forecast Council

UHERO, the economic forecasting organization of the University of Hawaii, has been seeing consistent decline in Hawaii's economy. While construction remains strong, tourism and labor are down. Click below for the latest from our 50th state.


With the National Debt now at its highest level in history ($28 trillion), we thought it would be helpful to give a quick lesson on what the debt is and how it impacts you.

Just click below to read more from The Balance
Washington Legislature
The State Legislature finished the 2019 session passing a $52.4 billion two-year budget. With revenue forecasts showing record levels of tax revenue already coming in the door, additional taxes were passed totaling more than $25 billon over the next 10 years. Payroll ($8.9 billion), Property ($8.6 billion), Business ($3 billion) and Real Estate ($1.8 billion) taxes were the top four categories.

Of the bills closely followed by NACM BCS, here are the results

House Bill 1602 - Passed and signed by the Governor
Dealing with "consumer debt". NACM initially opposed. Thanks to testimony from our Collections Manager, Paul Krause, and other professionals, the bill was heavily modified in our favor.

House Bill 1066 - Passed and signed
I t will require debt collection complaints to be filed with the court prior to summons and complaint. NACM BCS opposed this measure because it drives up costs for debtor and creditor.

Senate Bill 5795 - Passed and signed
The bill increases contractor bond requirements, NACM supported .

Capital Gains Tax - Failed
This proposed tax, already voted down multiple times by voters, was a big part of the Governor's $52.8 billion budget proposal. Believing it is unconstitutional as an income tax, NACM opposed.

For summaries of the session, click below:

Hawaii Legislature
The Hawaii Legislature wrapped up its session passing 200 bills out of 3,000 proposed. Click below for a summary of the highpoints:

Alaska Legislature

They are still in session. News from yesterday involves potential changes to the Permanent Fund formula. Read more below:

NACM BCS is a proud member of the Association of Washington Business which helps represent the interests of our region's business community.
IRS is changing payroll withholding...
and it will be a doozy. It's time to cozy up with your CPA.
You finally finished your taxes and are learning – for better or worse – the ins and outs of the new Federal tax law.

But wait, the law isn’t done with you. There’s another complication coming out later this year: The Internal Revenue Service is changing how you adjust your paycheck withholdings, and early indicators show it won’t be easy.

Retirement: Don't make this "huge mistake" with your 401K opportunity
"Hey, here's some free money, do you want to take it?" That's what you company is saying when it offers to match your contribution to your retirement fund. CNBC looks at why you're crazy to not take advantage of the offer.

Stay up to date
Whether you are trying to hire or looking for the next stop on your career path, this is our most active link. And, it changes all the time. Be a frequent visitor and don't forget to send us your job postings. It's a FREE benefit of membership.

The scary cost of college in the future and how to prepare for it
Think college is expensive now? Then new parents will probably want to take a seat for this news.

CNBC takes a look at the intimidating numbers to help you prepare.

Industry Trade Groups
Puget Sound Area

May 9

11:30 a.m. Floor - Duke's Chowder House

May 14

11:30 a.m. Transportation - Duke's Chowder House

May 15

11:30 a.m. Tacoma Construction - Johnny's Dock
11:30 a.m. Food - Duke's Chowder House

May 16

11:30 a.m. Wiring - Duke's Chowderhouse
11:30 a.m. Eastside Construction - 13 Coins, Bellevue

May 21

11:30 a.m. HVAC - Duke's Chowderhouse


May 15

12:00 p.m. Alaska Suppliers and Food - Elim Café


May 14

11:30 a.m. Hawaii Hospitality - Hilton Waikiki Beach Hotel

May 15

11:30 a.m. Hawaii Food - Waikiki Yacht Club

May 17

11:30 a.m. Hawaii Construction - Waikiki Yacht Club

May 27 - Memorial Day

Upcoming Professional Programs
Remembering. Memorial Day 5.27.19
Serving the credit profession from the heart of the Pacific Northwest
Since 1899
NACM Business Credit Services | 800-423-5710
P.O. Box 3665 - Seattle, WA 98124 | www.nacmbcs.org

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