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Our Subscribers Say...
I think Credit Today is fantastic. You cover many practical topics in the credit field that I use regularly. Just one recent example—a conversation on the ListServ about preferential payments—gave me tips that I used in an actual case. The specific information I picked up from this one discussion saved me $10,000, enough to cover my membership for many years!
- Steve Savino
Manager of Credit & Collections, ASSA Abloy Americas Division, New Haven, CT
Credit Today's Resource Directory and their online e-mail forum (ListServ) provide information on almost any credit-related topic you can think of. It is a great way to exchange information with other credit professionals. As the saying goes, "You don't know what you don't know."
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Credit Manager, Big Lots Stores, Inc., Wholesale Division
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David Dungan, Director of Credit
Justin Brands, Inc. (A Berkshire Hathaway company)
Fort Worth, Texas
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Corporate Credit Manager-World Wide
Thales Navigation, Inc.
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D. Mark Constantine
Corporate Credit Mgr
Fulton Paper Company
"I love Credit Today and read every issue cover to cover. For me, the greatest perk of a subscription is ListServ. I believe Credit Today's ListServ members may be the most knowledgeable Credit brain trust in existence today. I have saved and categorized hundreds of contributions on a wide variety of topics which I refer to often. It's an easy and cost effective way to network and learn."
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Kimberly-Clark Customer Financial Services |
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Kaulkin Ginsberg Q109 Survey Shows Improved Performance from Debt Collection Firms, but Continued Job Losses
June 1, 2009
NEWS RELEASE
For Immediate Release # # # June 1, 2009: Rockville, MD -- Companies in the accounts receivable management (ARM) industry reported a relative improvement in their performance in the first quarter of 2009, according to Kaulkin Ginsberg's Credit & Debt Collection Industry Confidence Survey. However, this improvement may be short-lived, as early signs show a drop-off in Q2 performance. Economic strain is also evident in higher-than-anticipated Q1 job losses at ARM firms. "The improvement in performance in the first quarter was most likely due to tax refund season," said Dimitri Michaud, Kaulkin Ginsberg Consumer Finance Analyst and author of the report. "It will be interesting to see if the improvement continues in the second quarter." When asked to rate their Q1 debt collection performance, over 46 percent of accounts receivable management firms reported "strong" or "very strong" collections -- an increase from the 29.7 percent reporting the same level of performance in fourth quarter of '08. As a sign of the economic times, however, this improvement is still below levels reported earlier in 2008, and in the first month of second quarter, fewer ARM firms (38.6 percent) reported this level of performance. Michaud added that although debt collection agencies have a lot of work -- over 63 percent of ARM firms surveyed reported "moderate" to "significant" increases in new business, or "placements," in first quarter -- consumers in the current market have very little cash to settle debts. Soaring unemployment in the U.S. is impacting collectors' ability to recover debt, and the ARM industry is not immune to job cuts. Overall, more than 28 percent of companies reported layoffs in the first quarter of 2009, representing a higher rate than was anticipated in the fourth quarter survey. In the fourth quarter, 26.6 percent of ARM companies anticipated that they would need to lay off workers at the start of the year. The complete report is available for download on insideARM.com at:
http://www.insidearm.com/go/credit-debt-collection-confidence-survey-q1-2009-free-report. Contact
Dimitri Michaud, Analyst
Kaulkin Ginsberg
240-499-3840 About Kaulkin Ginsberg
Kaulkin Ginsberg is the leading boardroom-level advisor to the Accounts Receivable Management Industry (ARM). Credit and collection professionals, owners, and investors worldwide rely on us for the insight, access and information needed to make well-informed decisions. Value-add consulting and M&A services cover almost every stage of a company's lifecycle, from strategic analysis to growth and exit strategies. Our media division is the leader in providing timely news and perspective on the recovery of debt in all industries. For nearly twenty years we have anticipated trends and evolved with the industry. For more information, please visit www.kaulkin.com.
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Outlook 2012
This month's survey explores...
- What the top problems are facing credit execs currently, and
- What the top improvement initiatives are.
Click here to participate!
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