Click above for a welcome and introduction to the month ahead |
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Upcoming Events
See what's happening this month...and beyond
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Industry Groups
NOTE: All Group meetings are being conducted online until the Coronavirus subsides. Hawaii Hospitality is on hiatus throughout COVID-19.
Puget Sound
Thursday, 11/12
11:30 Floor
Tuesday, 11/17
11:30 HVAC
Wednesday, 11/18
11:00 Tacoma Construction
1:00 Food
Thursday, 11/19
11:00 Eastside Construction
1:00 Wiring
Alaska
Wednesday, 11/18
1:00 (AKDT) Alaska Suppliers
Hawaii
Friday, 11/20
11:30 (HST) Hawaii Building
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Education and Events
Monthly Webinar (Free)
The Sales & Credit Relationship
November 5 - 12:00-1:00
Alaska Economic Review - Online (Free)
Neal Fried, Alaska State Economist
December 8 - 12:00 (11:00 AKT)
Conferences
Western Credit Conference - ONLINE
October 14 - December 16
Holidays
Veterans Day, November 11th
Thanksgiving, November 26th
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Over the last 121 years, NACM BCS has learned a lot about how to navigate economic challenges.
The best lesson is: Don't forget to pull credit reports. Even when business is good, knowing what's up with your customers is critically important.
Right now, business is good for many of our members and customers - especially in construction-related fields. And, when business is good, we often see companies get comfortable and stop pulling credit reports on customers. What happens next is that calls for help with Collections rise exponentially.
If ever there was a time to follow best practices, now it that time! We are seeing members reducing their credit report use while the calls to our Collections are on the upswing.
We are always happy to help you any way we can. And one of those ways is to remind you to follow best practices, so:
Keep yourself out of trouble. Pull those credit reports!!
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Get on top of delinquencies |
In addition to regular use of credit reports, history tells us that the sooner you deal with A/R issues, the better off your company will be.
Just as we've noted about trends in credit report use, we are also seeing a trend of letting delinquencies linger. The longer those past due bills are allowed to lanquish, the harder it will be to get paid.
There's as easy solution. Turn your A/R over to us for Collections and we can help get you paid soon.
Please call us at 800-423-5710
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Presenter: Neal Fried, Economist
Labor & Workforce Development
State of Alaska
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Alaska Economic Review
December 8 - 12:00 PT / 11:00 AKT
This complimentary presentation is available to all members and customers in all 50 states.
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The Seattle/Tacoma area has been the gateway to Alaska since 1899 and remains so today. Labor and Workforce Development Economist for the State of Alaska, Neal Fried, is the resident expert on everything when it comes to the economy of our 49th state, and how it relates to the Lower 48 and Hawaii. The challenges of recent years ranging from low oil prices to the impact of COVID on their tourism industry will be a featured part of his remarks. Neal will take a look a back at the past few years and give you his thoughts about the future of the state based on his decades of experience studying data for one of the most unique economies in the USA.
Neal has been a regular participant in our Anchorage educational programs for a number of years. This year, we are pleased to welcome him online. And, new this year, we are pleased to welcome all members from Alaska, the Lower 48 and Hawaii. Many of you have a professional and personal interest in Alaska, and Neal is the one with the clearest crystal ball about the future.
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Did you miss the most recent Monthly Webinar? Or our podcasts? |
If you have missed previous presentations, here's your chance for a re-do. Just click on the link below and you can watch or listen to several recent presentations. Best of all, they're all FREE! Just click below.
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The NACM Western Credit Conference is going virtual!
Through December 16
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Our colleagues at NACM Commercial Services are hosting this year's WCC in a virtual format. We believe that this approach will help many of our members participate during this odd year. There's an excellent line-up of programs, so take a look and take advantage of early registration for the best deal!
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Southwest Business & Construction Credit Conference
April 15, 2021
Phoenix
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Save the date. More details to follow. |
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Moss Adams CPA is the accounting firm that annually reviews the financial condition of NACM Business Credit Services. They often offer helpful information about current events that we share with you. |
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Stocks Rally Post-Election as Investors Digest Potential Policy Outcomes |
In the weeks preceding the US presidential election, the stock market was pricing in the potential for large fiscal spending. The anticipation of democrats winning control of Congress and the presidency, caused longer-term treasury bond yields to move higher and there was rotation from growth and technology stocks to more cyclical reflation plays.
However, post-election, that trade reversed course.
Stocks are mostly up across the board, and Wall Street seems to be pricing in the prospects of a divided government with a republican-controlled Senate. Click below for more.
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Is it insane to start a new business during Coronavirus? |
Americans are starting new businesses at the fastest rate in more than a decade, according to government data, seizing on pent-up demand and new opportunities after the pandemic shut down and reshaped the economy.
Check out the Wall Street Journal's look at what's happening.
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Alaska Airlines sees strong Hawaii bookings as consumers hunt 'work from anywhere' deals |
NACM BCS member, Alaska Airlines, which resumed flights to Hawaii this month, said it's seen strong recent bookings to the islands as pandemic-weary consumers seek trips to enjoy "work from anywhere" arrangements with employers. Read more about our hometown airline below:
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NAIOP study examines how retail, office buildings will become part of the 'last mile' |
Current changes in real estate use are spawning opportunities for underused assets, large and small, and with demand for warehouse and fulfillment space continuing to grow, the possibilities are endless.
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President Trump signs permit authorizing rail project to connect Alaska to lower 48 |
The permit is crucial to a proposed $17-billion freight rail project which would run through northwest Canada and connect into the existing Alaska Railroad system, transporting energy, minerals, and other commodities to global markets through ports in Southcentral Alaska.
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Northwest Seaport Alliance, Port of Bellingham land federal grants for improvements |
The Northwest Seaport Alliance is getting a $10.7 million federal government grant to complete major infrastructure upgrades at Terminal 5 at the south end of the Seattle Harbor as part of long overdue modernization efforts.
The Port of Bellingham is also receiving funding for major terminal improvements.
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Salt Lake City to lose its two daily print newspapers |
In the span of just two days, Salt Lake City learned that it would join the list of U.S. cities without a daily newspaper after both of its major papers said they would stop printing a daily edition at the end of the year.
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Bartell sale follows larger M&A trend among family-owned businesses |
The surprising sale of one of Seattle's oldest and most highly regarded local companies has sent shockwaves through the community.
The acquisition of the 130-year old family-owned Bartell's by Rite Aid is, in fact, a sign of these challenging COVID times. Beyond business changing, there is also concern that, depending on the election outcome, capital gains rates could increase which would have a significant impact on family owned enterprises.
Read more from the Puget Sound Business Journal.
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Q&A: George Bartell on selling an icon and Seattle’s challenges |
Stories about the loss of Seattle icons seems constant lately. The recent $95 million sale of Bartell Drugs to Rite Aid, stands out for several reasons.
That’s mostly because a humble retailer became a landmark through a combination of endurance, character and resisting consolidation for 130 years.
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Hospitality - Special Section |
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Up to 65% of Hawaii restaurants could close for good, industry leader warns |
If financial conditions for Hawaii restaurants do not improve significantly over the next six months, as many as 65% of them could close for good.
That estimate comes from a recent survey by the Hawaii Restaurant Association, which represents the roughly 3,600 restaurants across the state.
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Furloughed employees at Four Seasons Oahu to keep medical benefits through November |
Honolulu City Council member Kym Pine said today that the Hong Kong-based owner of NACM BCS member Four Seasons Resort Oahu at Ko Olina will extend employee health coverage through November.
Pine, who represents West Oahu, had sought clarity on the status of the resort’s 800 nonunion employees, who have been furloughed with full medical benefits since March.
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2020’s tumult is crushing Seattle’s restaurant scene |
The narrative changed abruptly Feb. 29, when news broke of the first reported COVID-19 death in the United States, at a nursing home in a Seattle suburb. Suddenly, the city was on the front lines of a pandemic that would send into free fall a restaurant economy that had been shaped by remarkable prosperity.
Since this article originally appeared two weeks ago, one of the restaurants mentioned announced its closure at the end of the months
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Anchorage military ordered to avoid bars and restaurants |
Personnel stationed at a military base in Alaska's largest city were ordered to avoid bars and interior dining at restaurants amid rising coronavirus cases on and off the base.
Joint Base Elmendorf-Richardson placed the restrictions on airmen and soldiers in Anchorage.
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Port of Seattle urges strict Covid-19 safety plans before Alaska cruises resume |
The Port of Seattle says it is eager to restart Alaska cruise operations in 2021 given the industry's importance to the Puget Sound region economy, but warns the cruise lines must have plans and agree to cover costs if they're hit by Covid-19 outbreaks.
Skagway Mayor Andrew Cremata wrote: " "It is paramount that the no sail order be lifted well in advance of the 2021 season. Indeed, the loss of the 2020 season represents $160 million in lost revenue for Skagway and 17 months without any real commerce."
Read more below:
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Alaska biggest loser per capita without cruise business |
A Federal Maritime Commission report concludes that Alaska may be suffering the biggest per capita impact of any US state from the loss of cruise business.
Teh study examined the economic impact of COVID-19 on the cruise industry in Alaska, Washington and Oregon. The report covers 16 Alaska ports as well as Seattle and Oregon's Astoria.
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Unemployment drops to 6.9% |
The United States added 638,000 jobs last month and the unemployment rate declined to 6.9%. For the sixth consecutive month, the U.S. has realized gains in employment. Since the March low points, the nation has added back about 11 million jobs that have been lost.
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Are you trying to fill a position? Use our Job Center! |
Take advantage of the Job Center at nacmbcs.org. If you're having trouble filling a position in your company, use this opportunity to reach a lot of people!
It's easy to post an opening. Just fill out the form. After that, the most viewed part of our website will get attention to your needs.
Best of all, it's a free service that comes with membership in NACM BCS.
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NACM Business Credit Services
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Serving commercial credit professionals.
Since 1899
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