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Nov 01 2012
CreditWise Published by NACM Business Credit Services and ICEL
November 2012

In This Issue
- NACM Canons of Business Credit Ethics
- Politics Can Affect Credit
- Collecting on a Debt Against a Foreign Government
- ICEL Recap: Demanding More from Yourself
- ICEL Spotlight: Erik Wright, CBF, Spectrum Engineers, Inc.

Looking Ahead

Nov 5 - Professional Designation Exams More Info

Nov 8 - ICEL "Overcoming Adversity" Speaker: Enid Green Mickelsen More info

Nov 28 - Mechanics' Lien Seminar - Instructor: Dana Farmer, Esq. More info

Dec 5 - Construction Bond Seminar: When and How to Use Construction Bonds to get paid. Instructor: Dana Farmer, Esq. More info

Dec 13 - ICEL Christmas Program - ICEL has chosen to support Candy Cane Corner again this year. Your donations of new unwrapped items for these families is appreciated. Cash donations are also welcome.
Candy Cane Corner 2012 Wish List

The CreditWise Newsletter invites NACM members to submit articles for upcoming issues. The articles should be based in business and credit management. Articles containing 350 words or more that are published are eligible for NACM Roadmap and CCE Recertification points.

Articles may be submitted to Georgette by email at

Business Bloopers!


The Customer is Always Right

One afternoon a customer came into my office to discuss his account. I pulled up the account records and advised him that he was almost ninety days past due. He argued that that wasn't possible. To prove him wrong and make sure I was in control, I printed out an aging of his account. After I handed over the evidence he acknowledged my posture with a humbled, "I guess I am in trouble." I was gloating as I proved that I was right and he was wrong and I almost readied myself to do the happy dance upon hearing his humbled words. But then he said that one of the delivery addresses was not familiar. So I printed out a copy of the invoices and delivery tickets just to prove again that I was right and he was wrong. With an all knowing attitude, I told him who had ordered the materials, but he said the person's name wasn't familiar to him. Just then the clouds parted, sunshine came blasting in and I finally noticed that I had pulled up the wrong account. I immediately leaned over the desk and politely acquired the copies of the aging, invoices and tickets. I leaned back, looked him straight in the eyes and professed my deepest apology as I admitted my mistake. When I pulled up the correct account, he was indeed current. I advised him that he had just been billed the week before and gave him the amount due. He gladly wrote out his check and as I shook his hand, I again apologized for my haste and my mistake. Just goes to show us that we are people and we need to treat our customers as people too!

**We'd love to hear your bloopers as well! Please email any business related bloopers, embarrassing experiences, silly mistakes, etc. to mmickelsen@genevarock.com

Why should I submit potential members to NACM?"

Help gain information on your customers. As a member, their information could help build the database on your customers. It's not just a one-way street. more Info



NACM Canons of Business Credit Ethics

by DeAnna Leahy, CCE, Sunroc Corporation

In our industry credit group meetings, each of us follows along as the Anti-Trust Compliance and Anti-Defamation Statements are read and then we quickly move on to the names submitted for discussion by each of the group members. I sometimes wonder how often members take the time to read and contemplate the information contained on the page entitled Canon of Business Credit Ethics that is located between the Anti-Trust Statement and the individual credit reports. I believe that it would be beneficial for each of us to review these canons on a regular basis.

The Canons of Business Credit Ethics evolve over time but the essence remains the maintenance of high ethical standards. You may remember . . . Read full article

ICEL Meeting
"Overcoing Adversity" Speaker Enid Greene Mickelsen, former Congresswoman and television and radio commentator, will discuss how to manage crisis in both the public and private spheres. She will also discuss how to move forward in life after a crisis.

We hope you will join us.
Thursday, November 8, 2012.
11:45 am - 1:15 pm at the Red Lion Hotel, 161 West 600 South, SLC
$16 Members
$26 Guests
Lunch included

Politics Can Affect Credit

by Wayne Olsen, Geneva Rock Products, Inc.

With the elections on our minds, have you ever wondered how politics affects the world of credit? If you haven't, you should.

Regardless of your political persuasion, the people who govern us have an impact on our daily lives. This is true and applicable to our careers and how we conduct business. When it comes to politics and government, I want to quote Dr Seuss; "Sometimes the questions are complicated and the answers are simple."

To demonstrate the significance of the influence of politics on our business take a small piece of the puzzle and look at the evolution of the Mechanics' Lien laws . . . Read full article

ICEL Chair Message
Collecting on a Debt Against a Foreign Government

by Shanna Smith, CCE, Easton Technical Products

We know how to enforce a judgment for debt owed to us in the United States. But, what happens if you sell to a foreign government? Granted, this is a narrow niche but yes there are remedies.

Just like governmental agencies in the United States, a foreign government, subdivision or agency is ordinarily immune from lawsuits. The exception to sovereign immunity that is most important for the credit manager is the commercial activity exception found at 28 U.S.C. 1605(a)(2). That section provides a way to sue the foreign government or agency in a U.S. federal court. Read full article

ICEL Meeting Recap:
Demanding More of Yourself

by Melissa Mickelsen, CBA, Geneva Rock Products, Inc.

Dawn Meehan, a former Survivor television show contestant, spoke to ICEL in October. Dawn's presentation was enthusiastic and energetic and provided fascinating insight, especially for the Survivor TV show fans in the group.

Dawn began by sharing interesting information about the show itself and also her time on camera. She related her experiences trying out for Survivor, the process involved in actually getting to the island, and some of her adventures while filming. She told the group about . . .
read full article

ICEL Spotlight:
Erik Wright, CBF, Spectrum Engineers, Inc.

by Susan Archibeque, CCE, Nicholas & Company

Erik S. Wright, CBF, is currently the Controller, Credit and Accounts Receivable Manager at Spectrum Engineers, Inc. He has been with Spectrum Engineers since 2005. Prior to Spectrum Engineers, Eric was the Director of Collections for UCN/InContact; Credit & Accounts Receivable Call Center Operations at AT&T; and Bilingual Collections Supervisor at AT&T. Combined, Erik has 18 consecutive years in credit, 9 years in consumer credit and 9 years in business credit.

Erik obtained his CBA in 2007 and the CBF in 2008. He attended Weber State University majoring in Spanish and minoring in Latin American Studies. He also attended New York University studying Credit Analysis and Risk Management programs in 2000. In addition Erik has taken various accounting courses at the University of Utah and Salt Lake Community College. Erik is working toward his CCE certification.

Eric is married with three children ages 8, 14, and 16. His hobbies include running, motorcycles, backpacking/camping, telemark skiing, canyoneering, and hanging with his family. He also coaches youth lacrosse and has been a Scout Master for the past six years which keeps him busy and allows him to enjoy the great outdoors.

Please welcome Erik as a new member of ICEL and come to the ICEL meeting and get to know him in person.