Commercial Collections: Business Finance Booster Shot

Submitted by: Joel Walsh

If commercial collections is not part of your B2B business plan, you re losing money. Get your cash flowing again with these commercial collection secrets.

Commercial Collections: Fixture of the New B2B Culture

If you re in the business-to-business field, or even if you re a consumer products business that works through third-party distribution channels, you probably know what it s like to check your mail anxiously each day, sifting through all the bills for that payment that was supposed to have been in months ago.

It wasn t supposed to be like this. If you were a good, honest businessperson who dealt with other good, honest businesspeople, commercial collections wasn t supposed to be part of your vocabulary.

Back in the good old days, an invoice or purchase order that had an established company listed in the bill to field was almost as good as a cashier s check. Nowadays, if you re in the business of serving other businesses you may find that your cash flow is less reliable than a small-time bookie s.

[youtube]http://www.youtube.com/watch?v=ZDvlJQ_ERC8[/youtube]

Commercial Collections: A Personal Story

This past April I finally got the $2,000 a client owed me for work done in December, after spending almost as much money s worth of my time reminding them to pay.

No, this wasn t one of those hand-shake deals we had a 5-page contract specifying net-30 payment terms. Nor was this some guy with a lemonade stand. It was the media division of one of the largest retailers in the United States.

The worst part was, I trusted this client based on my experience working with them a few years before. I actually spent the money on Christmas presents, fully expecting the payment to come in before my credit card statement.

Avoiding Outstanding Invoices

Of course, you can nip this problem in the bud by cultivating strong relationships with clients who pay on time. But those clients are getting few and far between and, as I found, the good can go pretty bad pretty fast.

Worse, it seems that the larger the business, the less likely they are to pay on time. Net 10 days might as well be a foreign language in Fortune 500 land. The long-standing advice given to B2B businesses and self-employed people is that the money is in big corporations. But good luck getting it from them before your rent is due.

What I Should Have Done

Looking back on my experience with the deadbeat corporate client, my biggest mistake was doing it all myself, with writing the letters and making the phone calls. With an hourly rate of about $75, I ended up spending the time equivalent of a large chunk of my $2000 fee.

I should have gone to a collection agency. I just didn t know then that were collection agencies that would take on small business debts and run the whole process for you for as little as $20 per debt.

Of course, I also didn t know that going to a collection agency didn t necessarily mean putting an account in collections. Many collection agencies are in fact refashioning themselves as accounts receivable management specialists; they ll even manage your invoicing from end-to-end if you want. The client may not even realizing that the person on the phone is from an outside agency and not your own personal assistant.

When I think of all the value of the time I spent collecting that last $2,000, I could kick myself for not handing it over to a collection agency. But, I can always look forward to putting this knowledge into practice the next time I have a client who s slow in paying.

About the Author: Joel Walsh suggests you start here to learn more about commercial collections:

collection-agency-information.com?%20commercial%20collections

[Web publication requirement: create live link for the URL/web address using “commercial collections” as visible link text/anchor text.]

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Category:July 14, 2010

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Amended USA Freedom Act draws questions from civil liberties groups

Sunday, May 11, 2014

The USA Freedom Act, introduced in to the US House of Representatives as HR 3361 and to the US Senate as S. 1599, on Thursday passed out of House Permanent Select Committee on Intelligence and on to the House floor. Foreign Policy reported the bill was “the most aggressive NSA reform bill under consideration in Congress”, however, after amendment, the bill has been questioned for extending the Patriot Act and the reduction of reform to Section 702 of the Foreign Intelligence Surveillance Act.

The USA Freedom Act had the stated goal of ending the bulk collection of Americans’ metadata, ending the secret laws created by the FISA court, and introducing a “Special Advocate” to represent public and privacy matters before the FISA court.

In May 2014, the US House Judiciary Committee posted a “Manager’s Amendment” on its website. Title VII of the Amendment read “Section 102(b)(1) of the USA Patriot Improvement and Reauthorization Act of 2005 (50 U.S.C. 1805 note) is amended by striking ‘June 1, 2015’ and inserting ‘December 31, 2017′”, extending the USA PATRIOT Act through the end of 2017. A number of organizations have taken stances against the Patriot Act, for example, the American Library Association became so concerned it urged its members to defend free speech and protect patrons’ privacy against the Act.

According to Deputy Attorney General James Cole, even if the Freedom Act becomes law, the NSA could continue its bulk collection of American’s phone records. He explained that “it’s going to depend on how the [FISA] court interprets any number of the provisions” contained within the legislation. Jennifer Granick, Director of Civil Liberties at Stanford Law School, stated:

The Administration and the intelligence community believe they can do whatever they want, regardless of the laws Congress passes, so long they can convince one of the judges appointed to the secretive Foreign Intelligence Surveillance Court (FISC) to agree. This isn’t the rule of law. This is a coup d’etat.

Cynthia Wong of Human Rights Watch (HRW) expressed concern that “the bill does not address needed reforms to surveillance programs that affect millions of people outside US borders.” This being a key problem that plagues US surveillance activities according to HRW.

Mike Rogers, a defender of the NSA’s surveillance practices and the chairman of the House Intelligence Committee, called the proposed amendments a “huge improvement”. On the other hand, USA Freedom Act co-author and Senate Committee on the Judiciary Chairman Patrick Leahy commented that he “remain concerned that the legislation approved today does not include some of the important reforms related to national security letters, a strong special advocate at the FISA Court, and greater transparency. I will continue to push for those reforms when the Senate Judiciary Committee considers the USA FREEDOM Act this summer.”

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Surgeons reattach boy’s three severed limbs

Tuesday, March 29, 2005A team of Australian surgeons yesterday reattached both hands and one foot to 10-year-old Perth boy, Terry Vo, after a brick wall which collapsed during a game of basketball fell on him, severing the limbs. The wall gave way while Terry performed a slam-dunk, during a game at a friend’s birthday party.

The boy was today awake and smiling, still in some pain but in good spirits and expected to make a full recovery, according to plastic surgeon, Mr Robert Love.

“What we have is parts that are very much alive so the reattached limbs are certainly pink, well perfused and are indeed moving,” Mr Love told reporters today.

“The fact that he is moving his fingers, and of course when he wakes up he will move both fingers and toes, is not a surprise,” Mr Love had said yesterday.

“The question is more the sensory return that he will get in the hand itself and the fine movements he will have in the fingers and the toes, and that will come with time, hopefully. We will assess that over the next 18 months to two years.

“I’m sure that he’ll enjoy a game of basketball in the future.”

The weight and force of the collapse, and the sharp brick edges, resulted in the three limbs being cut through about 7cm above the wrists and ankle.

Terry’s father Tan said of his only child, the injuries were terrible, “I was scared to look at him, a horrible thing.”

The hands and foot were placed in an ice-filled Esky and rushed to hospital with the boy, where three teams of medical experts were assembled, and he was given a blood transfusion after experiencing massive blood loss. Eight hours of complex micro-surgery on Saturday night were followed by a further two hours of skin grafts yesterday.

“What he will lose because it was such a large zone of traumatised skin and muscle and so on, he will lose some of the skin so he’ll certainly require lots of further surgery regardless of whether the skin survives,” said Mr Love said today.

The boy was kept unconscious under anaesthetic between the two procedures. In an interview yesterday, Mr Love explained why:

“He could have actually been woken up the next day. Because we were intending to take him back to theatre for a second look, to look at the traumatised skin flaps, to close more of his wounds and to do split skin grafting, it was felt the best thing to do would be to keep him stable and to keep him anaesthetised.”

Professor Wayne Morrison, director of the respected Bernard O’Brien Institute of Microsurgery and head of plastic and hand surgery at Melbourne’s St Vincent’s Hospital, said he believed the operation to be a world first.

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Who Is Your Replacement?

Who Is Your Replacement?

by

Dave Osh

A while ago I called X and suggested him to start looking for his replacement. Aren t you happy with my performance? asked X. Do you plan to fire me? I heard his worried voice. Not at all I replied. I want to promote you. How can you be promoted you if you have not groomed your replacement?

Who is YOUR successor? If you don t have one, you have probably been in the same position for long time. Your chances to get a promotion are better if you have a successor.

How strong should your successor be? The answer is that he/she should be stronger than you!

[youtube]http://www.youtube.com/watch?v=XRT-AjlvB-g[/youtube]

It is a tough dilemma. Isn t it? After all, it s human nature for us to be afraid that a successful, professional, highly skilled and competent successor will put us in his/her shadow or pass us up altogether. Right?

Wrong!

When we grow into a management position we are no longer individual professionals who are only as good as their technical skills. Leaders are as good as their teams. The stronger their team, the more successful the leaders are.

If we dare to groom a better and stronger successor, it will reflect positively upon us. We will be perceived as confident, successful and brave. A sharp successor will push us out of our comfort zone. He/she will challenge us and reinforce our personal growth.

Years ago, as the Financial Controller of an American listed company, my technical skills were below the benchmark. My adaptive skills compensated for my technical skills. One day, I was interviewing candidates for a position of Accounting Manager. Amar was my first choice. He was a confidant and energetic CPA from a Big Four firm with superior technical, commercial and management skills. I hesitated. This guy was better than me especially considering his youth and work experience.

I hired Amar and my job changed over night. He took over the group accounting. He interacted professionally with our holding company, managed his team well and worked with me on innovative projects. I had a real trailblazer on my team. I never felt threatened even though I knew, as well as anybody else, that Amar was better at the job than me. Our team performance was incredible. In a year we did a corporate split, merger and acquisition. The Chairman and the CEO told me that he felt very comfortable in these endeavors because of the strong finance team. Shortly afterwards, I was promoted to CFO. Amar replaced me as the Financial Controller. A year later, I left the company for an international assignment and Amar replaced me as the CFO. It was a wonderful feeling to leave the legacy of a strong and capable successor. It was not then nor will it be the last time I groom my replacement. It is a proven way to scale the corporate pinnacle.

So who is your successor?

Original article

by Dave Osh who is a forward thinking leader who has steered his way to the corporate pinnacle. His

Thought Leadership blog

is a wealth of stories, ideas, experiences, values, traits and skills which every manager who seeks a breakthrough towards international enterprise leadership needs.

Article Source:

ArticleRich.com

Big Brown victorious in Kentucky Derby, runner-up Eight Belles breaks down

Saturday, May 3, 2008

In a dominating performance, Big Brown triumphed in the 2008 Kentucky Derby. Jockey Kent Desormeaux gave Big Brown a stalking ride, even as he was 4-wide along the backstretch. Once they reached the top of the stretch, Big Brown grabbed the lead and won going away, 4 3/4 lengths away from filly Eight Belles. Desormeaux wins his third Kentucky Derby, while trainer Richard Dutrow savored his victory after having bragged about how well his horse is for the Derby.

There was no possible way Eight Belles could be saved… that’s an injury that’s very painful.

Shortly after the race finished, Eight Belles collapsed on the backstretch, shattering her two front ankles. She was euthanized minutes later. Veterinarian Larry Bramlage conceded that “there was no possible way Eight Belles could be saved… that’s an injury that’s very painful.” The moment was bittersweet for trainer Larry Jones, who sent Eight Belle’s stablemate Proud Spell to victory in the Kentucky Oaks.

Sent off 2-1 as the post-time favorite, Big Brown paid $6.80 to win. The $2 exacta (20-5) paid $141.60. The $1 trifecta (20-5-16) paid a healthy $1,722.80 with 13-1 shot Denis of Cork, and the $1 superfecta (20-5-16-2) paid a very respectable $29,368.90 with 37-1 shot Tale of Ekati.

Big Brown is being pointed to run in the Preakness Stakes on May 17. However, few horses from this year’s Kentucky Derby are looking to follow, opting instead to run in the Belmont Stakes on June 7.

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Cricket: Australia vs India 3rd test – Day 2

Thursday, January 17, 2008

Thursday was the second day of play in the third test between Australia and India at the WACA, Perth, Australia.

India resumed their first innings at 6/297. Australia took the remaining four wickets before the lunch break. Mahendra Singh Dhoni (19) and Irfan Pathan (28) both fell lbw in successive overs. India reached 330 all out with the loss of Anil Kumble for one run and R. P. Singh for a duck.

Australia struggled early on as Irfan Pathan dismissed both Australian openers for less than ten runs each and Michael Hussey was caught behind without scoring. At lunch, Australia were 3/22. The next session, Australia played well, despite losing Ricky Ponting (20) and Michael Clarke (23), coming to the tea break with a score of 5/148. However, in the last session of the day India took five wickets, sending Australia all out with a score of 212 after fifty overs. Andrew Symonds was Australia’s top scorer with 66 runs, while Adam Gilchrist made 55. R. P. Singh took four wickets for India.

In reply, India are 1/52 at stumps having lost Wasim Jaffer for 11 runs just before the close of play.

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Proper Ways For Keeping Butterfly Koi

Submitted by: Burt Cotton

Are you wondering what a butterfly koi is? You try to ask the Japanese or Chinese people because they can surely give you an elaborate answer. Obviously, koi is unfamiliar term for most of you but if you will translate it into layman s term, koi simply means carp.

Butterfly koi is a kind of fish. The features are closely related to the goldfish that you have in your aquarium. The style of breeding and ornamentation are almost the same as goldfish.

Butterfly koi originated from Japan and has been distributed worldwide. Many people became interested with butterfly koi because it features different colors that seem so attractive and appealing to the eyes. Colors vary from white, green, blue, black, and red.

Aside form butterfly koi, there are other varieties of koi that can be bought from pet shops and aquarium stores. These are distinguished by coloration, patterning and escalation. The breeders also develop distinct versions of koi. These are koi with large scales and some do not have scale at all.

Keeping a butterfly koi is not as complicated as you think. However, it is not the same as taking care of the typical fishes that swims in your ponds or in your aquariums. It takes a little effort from you if you want to sustain the growth of your Butterfly koi.

[youtube]http://www.youtube.com/watch?v=UY-_q6svBs8[/youtube]

Like the common carps these are also known for being resilient. Butterfly koi can just be placed anywhere or in any types of containers. These can be kept from small container to larger ponds.

Here are some tips for you to consider for keeping Butterfly koi:

Traditional indoor aquarium is not preferable.

Since it is a cold water fish, Butterfly koi desires water that is more than a meter in depth. During harsh winters, it can be placed in ponds but make sure that it is not to deep also because it can freeze underwater.

Keep an open space.

It is a great idea that you should keep an open space to the area where you place Butterfly Koi so that they can have a proper place for breathing.

Put a horse trough heater if possible.

This is helpful for considering the cold weather during winter season. Although Butterfly koi is a cold water fish, too much cold can be lethal for them.

Consider the bright color of the fish. It can be disadvantageous for the predators.

String nets above the surface of the pond can help.

This is an effective way of preventing the Butterfly Koi from being exposed to unnecessary particles that could fall to their habitat. Wires will do if you do not have string nets.

The pond must have a pump and filtration system.

These are used to keep the pond clean and a safe place to live in for the Butterfly Koi. Clear water is also needed for their growth.

Some people believe that Butterfly Koi is a good luck for your business. This is also the reason why most of them keep it as their pet. Aside from the luck that it can bring you, it can also cause you peace of mind and therapeutic feeling by simply watching them swimming in ponds. Try having Butterfly Koi in your place.

About the Author: Burt Cotton

about-koi.com

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Murderer of road accident victim sentenced to death

Saturday, April 23, 2011

Yao Jiaxin, a 21-year-old student at the Xi’an Conservatory of Music, was sentenced to death on Friday. Yao, from Xi’an in China’s Shaanxi province, was convicted of homicide after stabbing a cyclist to death.

On the night of October 20, 2010, Yao ran into 26-year-old cyclist and mother of a two-year-old, Zhang Miao, while driving his car. After he saw her writing down his vehicle’s license plate number following the accident, he feared she would report him, and proceeded to murder her by stabbing her six times. Prior to her murder, Zhang had suffered only minor injuries in the accident, according to police.

On October 23, after being accused of murdering her, Yao went to the local police station with his parents and confessed to the crime. He said he killed Zhang because she had seen his license plate number, and he feared that the “peasant woman would be hard to deal with.”

During a three-hour trial on March 23, 2011, Yao’s lawyer pleaded for a lenient sentence, saying it was a “crime of passion.” Yao tearfully described how he had been forced to play the piano, leading him to thoughts of suicide. But prosecutors and judges said Yao did not deserve leniency, as he had not attempted to help the woman after the accident but instead murdered her.

Public passions were raised and some thought Yao would get off through the influence of his family. The case triggered a public debate over the death penalty.

“The motive is extremely despicable … the measures are extremely cruel … and the consequence is extremely serious,” said the court in its judgment.

[edit]

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del Bosque to quit Spanish team management after contract expiry

Thursday, July 7, 2016

On Monday, Vicente del Bosque announced that he drop out from his post as a manager of the Spanish national football team. His contact is to expire at the end of July.

File photo of Vincente del Bosque. Image: Steindy.

del Bosque said, “I will continue my duties until my contract runs out on 31 July and then I’m leaving. My decision is irreversible”. In UEFA Euro 2016, Spain lost 2–0 in the Last 16 knockout stage against Italy.

In his eight years of management, Vicente del Bosque became the most decorated Spanish coach winning the FIFA World Cup 2010 in South Africa and defending the European Championship in 2012. Before del Bosque’s tenure, the 2008 Euro trophy was spain’s first major trophy in the last 44 years which Spain won under Luis Aragonés, Bosque’s predecessor.

del Bosque is to become a Royal Spanish Football Federation member. He has more than a 75% win record with 87 wins in 114 matches. 70 players including Jordi Alba, Sergio Busquets, Gerard Piqué, Álvaro Morata, and goalkeeper David de Gea debuted for Spain under del Bosque.

Before Bosque, Helmut Schön was the only manager to have won both FIFA World Cup and EURO Championship.

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