Neil Wood, 7th June 2011 – The third World Credit Congress was held in Sydney Australia in conjunctionwith the National Convention of the Institute of Mercantile Agents Ltd from the 18^th to 21^st May, 2011.

The Hilton Sydney hotel was the selected venue, and with almost 250 delegates attending the event was an unqualified success.

International visitors and speakers on credit management, credit reporting, debt buying and collection services within the international marketplace provided for an interesting mix ahd the networking conducted during the breaks was evidently of real interest to all in attendance.

Global Credit Solutions (GCS Group) was an exhibitor to the Congress and Convention, and generated a high level of interest  with the company being able to offer the group’s services through the partner network in more than ninetry countries. (Refer photo’s)

GCS core services include credit and risk management services and supported by its unique Global Case Management System, enabling clients to generate reports as and when required, created a high level of interest, even amongst companies that could normally be considered competitors.

Mr. Luis Perez, the CEO of World Credit Congress & Exhibition 2011, along with Mr. Alan Harries, Executive Director of the Institute of Mercantile Agents provided without doubt one of the best credit management conventions seen in the Asia Pacific region and are to be complimented  for their professionalism and foresight.

Neil Wood, 7th June 2011 – Global Credit Solutions (GCS) partners representing countries across the Asia Pacific meeting flew into Sydney  Australia for the group’s 2011 regional meeting.

Designed to enable partners to discuss and determine regional issues affecting the Asia Pacific regions clients as well as any changes to markets in the areas of credit and risk management, the forum was held at the IBIS Hotel located in Darling Harbour, one of Sydney’s beautiful scenic suburbs right on the waters of Sydney harbour.

Countries attending included Bangladesh, India, Pakistan, Malaysia, Singapore, Indonesia, Hong Kong, China, Korea, Japan, New Zealand and Australia were represented by twnety delegates.

The increasing importance being placed on Know Your Customer and Due Diligence investigative reports as well as the need for detailed credit reports and quick and efficient collection action or clients being paramount in these uncertain times was a feature of the meeting.

The meeting over two days covered regional legislation, marketing, reporting expectations of clients, as well as having break out sessions  for south, east and south east Asia and Australia / New Zeland sub regions, and provided the opportunity for partners to learn whilst networking and gaining an indepth understanding of the unique issues faced by each country.

Attached are some photo’s taken during the meeting.

Olympia, Wash., June 9, 2011 — Ansonia Credit Data and Red Book Transportation have announced the launch of the most comprehensive credit report available today for the produce and transportation markets. Red Book Transportation and Ansonia, a leading provider of high-quality, low-priced business credit reports, collaborated in uniting the databases of both companies to serve as a resource for both Red Book customers and fresh produce market participants.

Produced by the 60-year-old Vance Publishing, the Red Book Transportation Brokers Rating Service helps carriers locate and qualify reputable transportation brokers. The joint offering is available exclusively through Red Book Transportation, and will be available to the company’s direct customer base and fresh produce market professionals who use the Red Book Credit Services (RBCS) online Product Market Guide. RBCS, known as “the credit Bible of the produce industry,” is a leader in credit, business and marketing information for those selling fresh produce, products and services.

“Red Book Transportation reports powered by Ansonia’s global database offering create a true go-to resource for transportation and fresh produce professionals,” Ansonia Vice President of Sales Bill Weiss said. “Through the combined expertise of Ansonia and Red Book, these professionals now have real-time, 24/7 access to Ansonia’s global database on companies of every size, industry and market segment.”

“The alliance between Red Book Credit Services and Ansonia will significantly enhance the volume and quality of credit reporting data available to those involved in the transportation and logistics of fresh produce in the United States,” RBCS Vice President and Publishing Director Don Ransdell said. “As leaders in our respective industries, this will be an effective partnership that creates new value for the fresh produce marketplace.”

About Ansonia Credit Data
Ansonia Credit Data is a leading commercial credit reporting company dedicated to providing customers with the most accurate and affordable business credit reports available so they can make the best decisions possible. Ansonia maintains a global database on companies of every size, industry and market segment, receiving more than a half billion dollars daily in new accounts receivable activity. Ansonia credit reports help businesses to improve their management of credit risk, payment practices and cash flow, and automate decision-making. For more information, please visit Ansonia Credit Data. For the latest news and announcements from Ansonia, visit the Ansonia Credit Data News Center.

About Red Book Transportation

The Red Book Transportation Brokers Rating System has been used for more than 75 years as a means of assisting carriers in locating and qualifying reputable transportation brokers. The online directory of U.S. and Canadian brokers is provided by Vance Publishing, a 60-year-old publisher of business-to-business publications focused on several vertical markets, including trucking, agriculture, livestock, hair salons and industrial manufacturing. For more information, visit Red Book Transportation.

CONTACT:
Ansonia Credit Data
Bill Weiss
Toll free: 855-ANSONIA (267-6642), Ext. 102
bweiss@ansoniacreditdata.com

Red Book Transportation
Don Ransdell
913-438-0790
dransdell@redbooktrucking.com

The inaugural convention of the Australian Chambers of Business Alliance comprising each state and territory of Australia was held June 1- 3, 2011 at the Gold Coast Convention Centre attracting more than 1100 delegates.

Titled “today, tomorrow & beyond” the convention brought together leading speakers from Australia and around the world, culminating with a presentation by Steve Woznia,co founder of Apple Computer, Inc.

GE were the platinum sponsors and hosted Steve Wozniak (refer photo of him being interviewed for Sky Business News), PWC and HR Advance were Gold sponsors with exhibitors including a range of government and private sector companies.

One of these was the leading Australian receivables management company, the ARMS Global group who along with Global Credit Solutions provided delegates with a background on the credit and risk management services they were able to offer.

The ARMS Group is an Australian partner of Global Credit Solutions (GCS Group) with offices in each State of Australia offering a national service in credit reporting, credit management consulting, debt collection aswell as specialist investigation services in the areas of fraud, due diligence, KYC, KYE, brand protection and anti counterfeit action.

As the GCS partner in Australia the company is able to offer its services to the global marketplace through the network of GCS partners operating in more than ninety countries.

When interviewed after the convention, David Cains, CEO of the ARMS Global group stated “ This convention is one of the largest gatherings of senior business and government management seen in Australia for a long time. To achieve the numbers in the after affects of the global financial crisis is a remarkable effort and the organisers are to be completed on one of the best planned and run conventions I have participated in”.

Neil Wood, Group Managing Director for GCS Group, attended the convention commenting that “Not only is this one of the largest gathering of business people in Australia, but the level of enthusiasm and interest in the exhibitors stands has been very high, and will lead to new business being generated for most”.

- by Neil Wood, 6th June 2011

The United Arab Emirates may be coming out a winner of the Middle Eastern unrest as it welcomes bankers and investors burnt in Bahrain and north Africa.

But lingering weakness in its banking sector is a reminder that the Gulf state still nurses its own wounds from its 2008-9 financial and real estate crisis.

Local banks’ liquidity and capital levels are gradually improving, as are levels of provisioning for bad loans, analysts say.

Nonetheless, UAE banks First Gulf Bank, Emirates NBD and the National Bank of Abu Dhabi have all recently reported first-quarter results that missed expectations, in part due to greater than expected provisions for loan losses.

For the majority of the country’s banks, their exposure to bad debts in real estate is compounded by loan growth that, although gradually recovering, is restrained by the still-soft economy and banks’ tightening lending standards.

Loan growth in 2010 was 4.4 per cent and is expected to remain the “softest” in the region, says Jaap Meijer, a banking analyst with Alembic HC.

According to Raj Madha, a banking analyst with Rasmala Investment Bank: “We [the UAE] obviously have a number of troubled areas, particularly real estate, that haven’t worked their way out, and real estate is a very big part of the bank credit market.”

Slow loan growth is not all bad. Emirates NBD saw loans shrink 1 per cent quarter on quarter – helping it get its loan-to-deposit ratio down to a slightly more sensible 92 per cent from 99 per cent in December.

And the high levels of non-performing loans suggest the underwriting standards of the boom years may have fuelled growth, but not necessarily all that sustainably. Analysts say that writing down bad loans and deleveraging could take years and will keep banks growing at a pace slightly slower than that of the rest of the economy.

But beyond that – when banks try to shift from recovery back to growth – they will need to see lending grow.

For now, what the market does see is increased public spending.

“Oil prices are through the roof and that will find it’s way through the economy,” said Mr Meijer at Alembic HC.

Mr Meijer predicts 6 per cent loan growth at UAE banks for 2011, weighted towards Abu Dhabi banks with greater exposure to the emirate’s ambitious plans to diversify away from reliance on oil and gas income.

Yet from that perspective, the near-term prospects for UAE banks pale in comparison to their Qatari counterparts.

There, Mr Meijer expects 19 per cent loan growth as Doha ramps up for the World Cup – a public works project that, unlike many in the region, cannot be cancelled or downsized.

By Sarah Mishkin

© Copyright The Financial Times Ltd 2011.

Welcome to the Stellar Journal. Every month our goal is to try and write or pick up a few articles on subjects that will be of interest to a wide range of individuals in the finance, credit, and insurance fields.

This Month’s Topics Include:

	START WITH $10,000 AND RETIRE A MILLIONAIRE
	TEN DUMB THINGS TO DO IN A RECESSION
	WORKMANS COMPENSATION POLICIES – THE INSIDE SCOOP
	DEBT COLLECTION ISSUES ON BOTH SIDES OF THE FENCE
	WHY THE MIDDLE AGED ARE MISSING OUT ON NEW JOBS
	EVEN WITH TOO MUCH DEBT, YOU STILL HAVE OPTIONS
	CREATING THE FINANCIALLY SMART DIVORCE
	BRAZIL’S DEBT COLLECTION INDUSTRY – IT’S NO CARNIVAL

START WITH $10,000 AND RETIRE A MILLIONAIRE

All it takes is money and time; it always does. But what this really means is you have to save money over time, and that’s where so many of us struggle. Reaching age 65 with $1 million saved requires strong discipline and sustained effort. You need to recognize the importance of starting early and putting money away regularly. But even if you don’t have as much time, you still have options other than a last-ditch Hail Mary pass.

>Read more

TEN DUMB THINGS TO DO IN A RECESSION

The big bad "R" word makes people do strange things. Buck the trend and don’t be dumb with your money now. No-one, I repeat no-one, is bulletproof in a recession. People lose money and people lose their jobs. Here’s what you shouldn’t be doing:

>Read more

WORKMANS COMPENSATION POLICIES – THE INSIDE SCOOP

Workmans Compensation Policies may often contain loopholes and ambiguities in the policy language that may ultimately allow insurance carriers to maneuver out of their obligations to an injured party. In this interview, Dennis Cassidy, CPCU, CIC, will share his expertise on how you can make sure that your employees and company are firmly protected.

>Read more

DEBT COLLECTION ISSUES ON BOTH SIDES OF THE FENCE

I would like to welcome all of you to participate in my discussion group, "Debt Collection Issues on Both Sides of the Fence" on Linkedin. Recent discussions have included:
"Cultural Innovation – Who’s Making a Difference?" and "The Check’s in the Mail". Your thoughts and comments are all welcome.

WHY THE MIDDLE AGED ARE MISSING OUT ON NEW JOBS

Like many other things in the stutter-step economic recovery, the job market is finally recovering, but progress is uneven and some people are being left out. The latest jobs report, for example, shows that the economy created 216,000 jobs in March, for a total of about 1.9 million new jobs since employment levels bottomed out at the end of 2009.

>Read more

EVEN WITH TOO MUCH DEBT, YOU STILL HAVE OPTIONS

If you feel like you’re in over your head with personal debt, you’re not alone. Millions of Americans have become overextended, many as a result of easy credit and the recessions. Credit cards, medical bills, personal loans, and raising interest rates do not make a good financial mix.

>Read more

CREATING THE FINANCIALLY SMART DIVORCE

Whether your divorce is amicable or bitterly contested, one fact is true in every case. With divorce, comes change, social change, emotional change and financial change. The man or woman who is informed will be better prepared for those changes and will cope better with this difficult situation.

>Read more

BRAZIL’S DEBT COLLECTION INDUSTRY – IT’S NO CARNIVAL

Octávio Jose Aronis is one of the leading figures in Brazil’s debt collection industry. In this interview, Mr. Aronis shares his insights on the present and future of Brazil’s debt collection industry.
 

>Read more

We’re constantly amazed at some of the collection practices we’re advised about, and the fact that no action seems to be taken.

All to often it seems lawyers, on behalf of debtors, are the only ones out there taking real action against rogue collectors. Should we not be policing our industry more affectively ourselves, before we find it over-policed, by various legislative and regulatory bodies worldwide? History suggests they may be more stringent than is sensible, if creditors hope to have a fair chance of recovering their debts.

We are a global company with headquarters in Australia & Partner offices in over 90 countries. We pride ourselves on our name, our reputation & the knowledge that all our people are compliant with the strictest regulations.

Others seem to ignore the culture change that has occurred, and we believe they do so at their peril. Not only because of action from regulators and debtors, but because we are seeing clients all over the world distance themselves from those who don’t value these standards.

Being at or near the top of Google search, we are constantly contacted by debtor complaints, who have experienced the most appalling actions from (a) collection company/s with a name similar to ours. So much so that we are now forwarding all such complaints to the FTC & relevant international regulators. However, it is sad to read these days of alleged harassment, calls to work, friends and relatives and the taking of funds from bank accounts without authority, and this is coupled with little or no contact information from the companies, other than correspondence by email which goes unanswered.

We are, I am confident fully compliant, but the bad apples affect us all and we should be taking collective action against it.

Times are not changing – they HAVE changed. It’s time everyone took an interest in compliance & the changing culture within our industry. Most importantly, we must create a culture where all our peers are encouraged to take similar action.

Michael N Collyer | General Manager, Global Credit Solutions

GCS partners from more than sixty countries came together in Vancouver Canada September 15-17, 2010 to review the past years results, discuss and reach decisions on ways to continue to expand upon and improve the group’s core services of credit and risk management strategies.

There were many highlights during the conference including the warm hospitality of our host partners CEO Peter Sorrentino and Administration Director Heidi Roszmann, and their wonderful city which all delegates were able to enjoy during the evening social gatherings which included a dinner cruise of Vancouver harbour one night voted one of the most spectacular times by all attending.

The conference saw the appointment of Mr. Sam Omukoko from Metropol East Africa Limited as the GCS African Regional Director, with Sam joining the regional director’s advisory board.

Wednesday September 15, saw the GLOBAL CREDIT, COLLECTIONS & RISK MANAGEMENT SEMINAR jointly hosted by GCS Group and our Canadian partner and host General Credit Services Inc. Opened by Don Fast, Deputy Minister Economic Development for the Province of British Colombia, more than 120 delegates listened to speakers Helmut Pastrick, Chief Economist Central Credit Union, Tiki Patel, COO of Aktiv Kapital, Stuart Bergman, Director of Economics Analysis and Forecasting Export Development Canada.

The panel included internationally renowned GCS speakers from the Caribbean, New Zealand, Kenya, Ukraine, Australia and the United Kingdom, with the event chaired by an amusing and respected person in the form of Kevin Terrell from GCS Spain. The event provided a forum for Canadian business people to stay abreast of current events in the fields of credit, collections and risk management.