What are your thoughts?

Which financial ratio is the most important to you in analyzing financial statements? Working Capital RatioQuick Ratio Gross Margin PercentageProfit Margin PercentageInventory Turnover Rate We credit professionals are finding that in these tough times it...

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What are your thoughts?

How much can a company save per year when letting an employee work from home? $3,000$6,500$7,500$9,000$11,000 According to current data compiled and published by the marketing firm, Review42, $11,000 is how much companies can save annually for each employee that...

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What are your thoughts?

Are Americans’ Credit Card Balances: • Increasing • Decreasing • Staying about the same According to current data from the Federal Reserve) revolving credit debt has declined for the third month in a row. Specifically, revolving credit debt dropped to $995 billion in...

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What are your thoughts?

Which sectors are on target to surge during this pandemic? Light Consumer ManufacturingHeavy Equipment ManufacturingAgricultureGamblingRetail Alcohol Beverage To say the COVID-19 pandemic and its ensuing lockdown have caused a considerable hole in the world’s...

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What are your thoughts?

Off the top of your head, how much do you think the U.S. National Debt is?  ​ $6 trillion$10 trillion$15 trillion$19 trillion$26 trillion Answer: As of May 2020, the National Debt reached a whopping $25.75 trillion! Given that the national debt has...

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When the Going Gets Tough….

In these trying and emotional times, when our lives have been horribly disrupted by health and financial challenges, we still need to get up every day and do things to retain some semblance of normalcy. Some of what we do may be new and refreshing, and other...

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Dear Crabby — I’m Bored!

Dear Crabby, As the credit manager at a small tools manufacturing and distribution company of 50 employees, we’ve been closed since April 1st and it looks like we’re going to be closed for the rest of May. Fortunately, during this time our company has continued to pay...

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What Are Your Thoughts?

 How long will it take for the U.S. economy to recover from the Corona virus shutdown?  6 months1 year2 years5 yearsAnyone’s guess If you ask 100 economists when the U.S. economy will recover, you may very well get 100 opinions. With unemployment numbers...

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Your Health Is Our Utmost Concern

For the month of March 2020, I was planning on sending out our regular newsletter but in view of the Coronavirus pandemic, I thought it would be more appropriate to address this issue with some thoughts and ideas for your consideration. The first thing I...

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CMI Trivia Quiz

Which President held the position as a credit reporter during his lifetime? John Quincy Adams Abraham Lincoln Ulysses S. Grant Grover Cleveland William McKinley Jimmy Carter    Answer: You’ll be very surprised to learn that Abraham Lincoln, Ulysses S. Grant, Grover...

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Can We Talk?

It’s so nice to have customers you feel are good as gold. They’re the ones who’ve been with you for years — maybe even generations. They order on a regular basis, in large amounts, and always pay on time. They’ve contributed to your company’s long-term success and...

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CMI Trivia Quiz

In which country or kingdom was the concept of debits and credits formally established? China India England Persia Venice Egypt    Answer: Both India and Venice The concept of debits and credits as a financial transaction classification system was first used and...

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CMI’s Trivia Quiz

As recognized by the United Nations, there are currently 180 currencies across the world. Among all these currencies, how many countries do you think call their currency the "dollar?" 8 20 32 44 51 Answer: 20 The “Dollar" (symbol: $) is the name of 20 currencies,...

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CMI’s Trivia Quiz

Among all of the well-known credit cards today, which one was the first to be introduced as a dining and entertainment credit card?  American Express  Mastercard  Discover  Visa  JCB  Diners Answer: Diners    According to historian Jonathan Kenoyer, the concept...

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The CMI Spirit – Adam Carliss

CMI is delighted to spotlight Adam Carliss for our September newsletter. Please read through his interview which conveys his passion for CMI, the collection business, and his zest for life. Q-1: What was the initial opportunity that brought you to CMI and into this...

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My Credit Self Esteem Is Taking a Hit

Dear Crabby, I’ve been the person in charge of credit at my company (over 200 employees) for the past two years, and I’m the third credit professional in the last eight years to have this position. I found out that the turnover was rather high (they left on their own)...

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CMI’s Credit & Collection Trivia Quiz

In terms of developing a credit scoring model, which benchmarking approach do you think would work best? Process benchmarking Financial benchmarking Functional benchmarking Best-in-class benchmarking Operational benchmarking Before we give you our answer, let’s take a...

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Sweating the White Lies

Dear Crabby, I work at a mid-size company of about 150 employees and I’m part of a team of four collectors. I’ve been working at my company for over fifteen years and I have the title, Senior Collector. Over the past few months I’ve noticed that I’m getting more...

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CMI’s Credit & Collection Trivia Quiz

How many different kinds of bank letters of credit are there? •   3 •   4 •   5 •   6 •  More than 6    Answer: More than 6 A letter of credit (LC), also known as a documentary credit, bankers commercial credit, or letter of undertaking (LoU), is a payment...

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