Celebrating 120 Years 1899-2019

News, Information and Commentary July 2019

July 4th at Kenai, Alaska

A few thoughts from Jon Flora, President & CEO

Recognized as "Top 100 Best Places to Work" Throughout this year, we are recognizing our 120 th anniversary of serving the commercial credit profession. We have prospered through multiple wars, economic events, and all kinds of business changes.  One thing that has remained consistent is that our members have always come first.   That's as true today as it was in 1899.

The key part of our success and the ability to focus on you has been the quality of our staff. The people that work at NACM Business Credit Services come to work every day with a desire to help our members in any way possible. Today, the average length of service is over 23 years.  Last week, we learned that NACM BCS is one of the Top 100 companies to work for in the greater Puget Sound area . The Puget Sound Business Journal annually conducts an independent survey of employees at companies of all sizes. (There are nearly 100,000 companies in the Seattle-Tacoma-Bellevue metro area.) We fall in the smallest category by headcount and won’t know until late August how we ranked among the group. Whether we end up first or last, being included in this prestigious recognition during our 120 th year is special for our people, organization and the entire credit profession. I hope you share in our pride and enthusiasm. I want to thank everyone on our crew for their commitment to our association and profession. While this public acknowledgement of our organization is great news, the reality is that our employees tend to be a humble bunch. Yes, we are excited about this recognition from the region's premier business journal. A bigger story, however, is our active involvement in the community. NACM staff regularly give back through volunteering, financial support, and leadership to a wide variety of charitable organizations in and around where we live. Considering we are just 18 people, we cover a lot of territory when it comes to serving important causes.  Service above self is more than just a tag line. It’s real at NACM BCS. And, we especially love our dogs. A partial list follows of the organizations we support.  Those with an asterisk have also been sponsored by NACM Business Credit Services as a way to recognize employee and member involvement. The diversity of causes is especially notable as it speaks to the range of commitments and core beliefs of our people. If you would like to know more about any of these organizations, drop me a note and I will be glad to connect you with the right people. Thanks for being part of our important work for the credit profession and for being active in our communities. Have a great summer!

NACM IN THE COMMUNITY

In addition to the serving the members of NACM Business Credit Services, our staff gives back to the communities in which live. Through volunteering, charitable gifts, or both, our people believe in contributing to the health of the cities and towns where we live and work. Here's a sample of some of the organizations we support: Auburn Valley Humane Society - Federal Way, WA ArtsWest - West Seattle, WA * Best Buddies - Washington statewide * Crohn's & Colitis Foundation - Washington Dreamcatchers - National Everett Gospel Mission - Everett, WA * Food Bank of Alaska - Anchorage, AK Foss Waterway Seaport - Tacoma, WA * Hawaii Food Bank - Honolulu, HI * Special Olympics - Washington statewide Northwest Center - Greater Puget Sound area * Northwest Harvest - Washington, Alaska Northwest Seaport Maritime Heritage Center - Seattle, WA * Pa'ani Challenge Girls Wrestling Tournament & College/Career Fair - Honolulu, HI Seattle Gospel Mission - Seattle, WA University of Washington - Seattle, WA * Vashon Chorale - Vashon Island, WA Vashon Island Pet Protectors - Vashon Island, WA Washington State University - Pullman, WA Whitworth University - Spokane, WA Yakima Valley Pet Rescue and Adoption Center - Yakima, WA 

EDUCATION & MEMBER NEWS

Stop by a Starbucks to visit with the Prez! Starbucks 1144 Elliott Ave W. Seattle, WA July 11, 3:30 p.m. Lincoln Plaza 2505 S. 38th Street Tacoma, WA July 18, 2:00 p.m.

Coffee with the Prez Continues this month Do you have something you'd like to ask our association President? Maybe you have an idea to share about how to improve your organization. Or, is there something bothering you about NACM? Whatever is on your mind, our president, Jon Flora, would like to hear from you and other members. This month, he'll be on the Seattle waterfront between downtown and Ballard, and Tacoma. Check out the dates to the left for the dates and times. Bring your ideas, comments and questions! See you soon!

Presenter: Tracy Bullock President, Bullock Training & Development Phoenix, Arizona Time: 12:00 - 1:00 PDT 11:00 - 12:00 AST 10:00 - 11:00 HST 1:00 - 2:00 MDT Cost: $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.

ONLINE WEBINAR: July 25, 2019 Managing Multi Generations & Conflict in the Workplace Each generation has a different view of how to do things. This session will address Generational Communication. our presenter will talk about recognizing the differences and how to think about adjusting to the various styles and backgrounds of each generation. In this webinar, Tracy Bullock will discuss a topic that is coming up more often as Boomers begin planning their retirement strategy and helping to craft a succession plan for their employer. Tracy is a S enior Executive with extensive domestic and global experience in Strategy Design, Organizational Training & Development, and Sales Management with a Fortune 50 company. She has extensive experience leading multiple functions/departments with top U.S. and global customers, collaborating on breakthrough results.  REGISTER TODAY

Click here for the entire 2019 webinar and education schedule

THE CREDIT ROUNDTABLE PODCAST Episode #6 Artificial Intelligence What is it and how do I use it? Click here for all episodes

The Credit Roundtable - Episode 6  "Artificial Intelligence - What is it and how do I use it in my credit operation?" As more of our members examine the possible use of automation in their credit operation, the more calls we receive seeking our help. Episode #6 of our new podcast begins next week featuring a conversation with Bill Weiss and Diana Crowe of High Radius, one of the select providers of A.I. products with which we are aligned. Our conversation offers an introduction to this new products and will help you think about what's next for your company. 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. Join us for this latest episode.

Save the Date: September 12th Early Bird Registration ends 7/15 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.

Early Bird Registration

Do you need a scholarship for N C3 ? Ten full registration scholarships are available for NC3 from our Business Credit Foundation. To apply, check our guidelines and apply for an award by clicking the button below! Deadline for application is July 15th.

Apply for a Scholarship

Build your network and stay current on our activities through social media. Just click below.

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CONFERENCES & SEMINARS

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! REGISTER FOR CRF

Save the Date: September 12th NC3 is the place to be...on September 12th. Save the date. Register today. Sponsorships available. Inquire within.

Western Credit & CFDD National Conference - October 23-25 The Western Credit Conference returns to Portland this Fall. Click below for more information and to register. REGISTER NOW

BUSINESS NEWS

APPLE PLANS TO MAKE SEATTLE KEY ENGINEERING HUB Apple plans to add 2,000 software and hardware jobs in Seattle within the next five years, starting with 200 additional jobs this year, company officials said. The company is leasing 635,000 sq. ft. of new office space. Seattle Times NORDSTROM CLOSING ANCHORAGE STORE On Wednesday the Seattle-based company announced that it would be shuttering its Anchorage store in September. A Nordstrom Rack store will remain. It punches a 97,000-square-foot hole in downtown Anchorage’s already-struggling retail core. Read more: Anchorage Daily News WENATCHEE TRUCKING COMPANY STRUGGLES IN SEARCH FOR DRIVERS Semi trucks are still the spine of nearly all retail and commerce in America, delivering 71.5 percent of the nation’s freight. But thousands of companies, including Wenatchee-based Midland, are now struggling to find enough people to pilot them. Read more about the struggle to recruit from the: Wenatchee World THE PUGET SOUND ECONOMY BY THE NUMBERS Here's a look at the Puget Sound economy in 20 charts including leading economic indicators. So far, so good. Read on: Seattle Times AUTOMAKERS FACE "PROFIT DESERT" - EVs, SELF-DRIVING The auto industry’s profit party is winding down, imperiling jobs, plants and products in a scramble to embrace electrified and self-driving vehicles. Read on: Detroit News HAWAII ARRIVALS UP; SPENDING DOWN May marked the seventh month in a row that more visitors came to Hawaii than the previous year while creating less economic benefit. Arrivals have been growing since February 2017, but tourism spending has been falling every month since November. Seattle Times McMENAMIN'S NEW TACOMA OFFERING IS A HIT The famous and quirky Portland-based hospitality company opened the McMenamin's Elks Temple location in downtown Tacoma in April. Their restoration of one of the city's beautiful landmark buildings has been a major success. The multiple food offerings caught one writer's interest. Read more: Seattle Dining

TRENDS

US LONG TERM MORTGAGE RATES FALL TO 3.73% U.S. long-term mortgage rates fell this week. It was the seventh decline in the past nine weeks for the key 30-year, fixed-rate loan, which reached its lowest level since November 2016. Read more from: The Associated Press TRUCKERS SOUND ALARM AS SHIPPING SOFTENS This year has been rocky for the $800 billion trucking industry. After a raucous 2018, 2019 has seen retailers and manufacturers moving less, according to the Cass Freight Index. Freight rates have dipped year over year for six months straight. Loads on the spot market, in which retailers and manufacturers buy trucking capacity as they need it rather than through a contract, have fallen by a chilling 62.6% in May year over year. Read more: Business Insider GIANT CRANES SHOW WHY THE NEXT FIGHT IN TRADE WAR COULD BE SO DAMAGING The pictured towering Chinese cranes being delivered to the Port of Tacoma are the only models that can reach far enough and high enough to handle the world’s largest seagoing cargo carriers. Along with dealing a fresh blow to China’s economy, new tariffs would mean cost increases for vital port modernization projects around the United States damaging local economies and imperiling U.S. hopes of keeping pace with foreign rivals. Read more from the Washington Post via the Seattle Times US HOMEBUILDER CONFIDENCE FALLS FOR FIRST TIME US homebuilder confidence unexpectedly fell in June for the first time this year due to concerns over trade and rising construction costs. Financial Times

Visit the National Debt Clock (Real Time)

CAREER PLANNING

Looking for a job? Needing to fill a job? 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 Job Center

EVENTS & EDUCATION CALENDAR

Industry Trade Groups

Puget Sound Area July 11 11:30 a.m. Floor - Duke's Chowder House July 16 11:30 a.m. HVAC - Duke's Chowder House July 17 11:30 a.m. Tacoma Construction - Johnny's Dock 11:30 a.m. Food - Duke's Chowder House July 18 11:30 a.m. Wiring - Duke's Chowderhouse 11:30 a.m. Eastside Construction - 13 Coins, Bellevue Anchorage July 17 12:00 p.m. Alaska Suppliers and Food - Crowley Fuels Honolulu July 16 11:30 a.m. Hawaii Hospitality - Hilton Waikiki Beach Hotel July 18 11:30 a.m. Hawaii Building - IHOP (Location change for this month only due to the LA to Honolulu Transpac Yacht Race)

Coffee with the Prez

Stop by a Starbucks to visit with our President.   July 11, 3:30 p.m. 1144 Elliott Ave W. Seattle, WA July 18, 2:00 p.m . Lincoln Plaza 2505 S. 38th Street Tacoma, WA

Upcoming Professional Programs

2019 Meetings, Seminars & Conferences   August 12-14, 2019 - Credit Research Foundation Forum & Expo - Click here Seattle, WA September 12, 2019 - NC3 - Northwest Commercial Credit Conference - Click here Seattle, WA October 23-25, 2019 - Western Credit Conference - Click Here Portland, OR 2020 June 14-17, 2020 - NACM National Credit Congress Las Vegas

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 All Rights Reserved