Magazine article Business Credit

Open Accounts

Magazine article Business Credit

Open Accounts

Article excerpt


President Paul J. Mignini, Jr., CAE, the National Accreditation Committee and the NACM National Education Department are pleased to announce the Credit Business Associates (CBA), Credit Business Fellows (CBF) and Certified Credit Executives (CCE) who successfully passed their designation examinations on May 20, 1999 at NACM's annual Credit Congress in San Francisco.We applaud their determination and hard work in the pursuit of their goals. Congratulations and best wishes for continued success in your careers.

CRA Recipients

Carmeline R. Cesario Pitney Bowes Credit Corp. Rosemount, IL

Tawnya Garwood Jerry's Home Improvement Center Eugene, OR

Delores L. Fitzpatrick Food Services of America Kent,WA

Daum M.Janz GE Capital Trans Leasing Deerfield, IL

Rhonda Reiners Sprint Publishing &Advertising Overland Park, KS

Andrea L Szubay Hexcel Corp. Pleasanton, CA

Lucy T Ward Flexsteel Industries, Inc. Dubuque, IA

CBF Recipient

Edward R. Switala MC Machinery Systems, Inc. Wood Dale, IL 60191

CCE Recipient

Thomas Killeen CIBA Vision Canada, Inc. Mississauga, ON

Chapter 12 Extension Passes; Sent to White House for Signature

By a voice vote on October 5, 1999, the House of Representatives approved the extension of the Chapter 12 bill that was adopted by the Senate on October 1, 1999. The bill has now been approved for a nine-month extension for all family farming bankruptcy filings.

The bill, S. 1606, was signed by President Clinton on October 9, 1999 and will extend the Chapter 12 provisions until July 1, 2000. There are some suggestions among Capitol Hill staff that a permanent extension of Chapter 12 may be offered when the Senate completes its work on the bankruptcy bill. The action on the bankruptcy bill now appears unlikely until after the first of the year.

Affiliates Elect New Officers

The National Association of Credit Management's Rhode Island and Southeastern New England affiliates recently elected new officers and executive committee members.

The new officers include President Laurence King, Battenfeld of America; First Vice President Louis Tager, Express Cars & Credit; Second Vice President Lisa Reid, Mulligan Construction Co.; Treasurer Robert Crellin, Kenney Manufacturing Co.; Secretary Arlene Siravo,American Ring;Assistant Treasurer and Secretary Marsha Anderson, the Quill Co.; and Councilor Earl Branch, Hollingsworth &Vose Co.

The Executive Committee Members include Irene Barlow, Earl Branch, Judith Cadigan-Parisi, Grover Lackey, James Rego, Martin Uffer and Stanley Zuba.

The association also named the recipient of its Howard S. Almy Memorial Award and Credit Executive of the Year-Lou Tager.

Congratulations and best wishes to Lou and all of the newly elected officers.

Creditek Takes Equity Partner

Creditek, LLC (formerly operating as Creditek Corporation) announced that they have taken an equity partner, Parthenon Capital. The partnership will enable Creditek to expand, both nationally and internationally.

"While Creditek has the lead in the receivables outsource business, we foresee that our market opportunities will be even greater by having a partner with experience in fast growth business environments. We need a partner who can help us expand our core business nationally and internationally, and assist by acquiring other companies when it makes sense," explained Creditek CEO John H. Metzger.

Metzger searched for the right partner with demonstrated experience in helping mid-sized companies grow into major entities.This partnership will also give Creditek access to the international consulting services of Parthenon's sister company,The Parthenon Group.

"We believe that the Creditek/ Parthenon Capital partnership will enhance Creditek's ability to grow from the strong base it has already established," said Ernest Jacquet, managing partner of Parthenon Capital. …

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