CMA Community

1. Dina Amadril
   Key Master

   Reputation:82

    

   Two News Stories in 72 hours

   An editorial Mike Mitchell co-wrote with financial strategist Richard Hastings, CCE appears in the current edition of the Los Angeles Business Journal. The editorial urges elected officials and policy makers in Sacramento and Washington to focus on restoring trade credit as part of their efforts to revive the California and National economies.
   http://creditmanagementassociation.org/wp-content/uploads/2009/07/Los-Angeles-Business-Journal-OpEd-072009.pdf

   This past Friday, Mike was invited to join the KNX Business Hour with Frank Mottek (KNX AM 1070 News Radio in Los Angeles) to offer views on how CMA's member trade creditors were being affected by current economic policy and how many companies would be affected by a potential CIT bankruptcy or failure.
   http://creditmanagementassociation.org/wp-content/uploads/2009/07/CRD001-001.mp3

   Post your feedback on these news stories.

   Dina Amadril, Director of Marketing
   Credit Management Association

   Posted 2 years ago #

2. Wil Toia
   Member

   Reputation:21

    

   Good interview and great article. I hope that someone who can really do something with this, gets it. It's not all about consumer credit. Sometimes it takes a simple suggestion or solution to start to clear up a seemingly complex situation. Not that these are simple times. If the retailer can't pay the distributor who can't pay the manufacturer then what is there to stimulate buying and who has the money to buy it anyway? Why make something that no one can pay for? It seems so scary at times. By now everyone should know someone or has heard of someone who lost their job or is plagued by some type of financial burden. Business to business credit needs healing, NOW!

   Hopefully someone's dim bulb up north gets a bright idea from this.

   Posted 2 years ago #

3. Barry Rose
   Member

   Reputation:3

    

   Good editorial. Easy to read & understand, especially for those who are not experienced in B2B trade credit. I understand why the banks want to repay the TARP loans as soon as possible, but they are doing the same thing that the government did (and is still doing!) - they are getting in too big a hurry. They need to use the money for what it was intended - loans to business - and accrue for repayment over a reasonable period of time. They let the government in when they took our money, and I understand that the prospect of bureaucrats involving themselves in a company's operations is scary. However, there's no reason why a bank can't amortize repayment over 3-5 years and pre-pay when profits allow. They need to concentrate on the bank's income center, their loan portfolio. The profit on those good loans is what will fuel repayment, while helping small & large businesses alike to recover & prosper. We have to get out of this short-term mentality regarding our economy! The recover engine needs fuel, and that fuel is money. Recovery won't come from Wall Street - Wall Street reflects what business is doing.

   Posted 2 years ago #

4. Christine
   Member

   Reputation:122

    

   I appreciate this article. Especially since we just received two IOU's from the State that our Bank will not honor. Funny that the Banks and Auto industries got bailouts, but regular trade creditors get IOUs...

   Posted 2 years ago #

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