Trade Credit Insurer Predicts Significant Increase In U.S. Business Failures
(ContentDesk) July 26, 2006 -- After a substantial increase in 2005 and a decline in 2006, the number of business insolvencies in the US is predicted to climb once again in 2007, according to global trade credit insurer Euler Hermes. Worldwide, the Index predicts that business failures will increase by 3% in 2007 on the heels of a global economic slowdown.
(Note: To view charts related to the Business Failures Index, please request the full version of the release.) The Global Business Failure Index created by Euler Hermes to compare business failures by country, going beyond the national definitions and taking into account the size of the respective global economies predicts an 8% increase in US corporate insolvencies for 2007. The Index has fluctuated quite a bit in the past two years, showing a 14% increase in 2005 and a 5% decrease for 2006. The 2005 hike was caused by an increased number of businesses insolvencies in advance of the new bankruptcy laws, which took effect on November 17, 2005.
However, the revamped bankruptcy code has caused a notable decrease in the number of corporate insolvencies for 2006, with the Index predicting a slight decrease in the number of businesses that will declare bankruptcy. Dan North, Euler Hermes ACI Chief Economist, offered his view on the macroeconomic factors that can affect business failures: The US economy turned in a very strong performance in the first quarter as real Gross Domestic Product grew at a 5.6% annualized rate. However, GDP growth is expected to slow during the rest of the year as a result of three factors. First, the housing market which has supported the US economy over the past few years is cooling off, providing less equity to finance consumer activity and reducing demand for household goods and services. Second, high energy prices, particularly for gasoline, are putting a drag on consumer activity.
Third, and perhaps most importantly, the Federal Reserve may have tightened monetary policy too far as reflected in the inverted yield curve, a strong indicator of a future slowdown. The effects of Fed tightening take a year or more to be felt, meaning that the US economy will be experiencing a drag from rising interest rates for at least another 12 months. These three pressures on the US economy will certainly put pressure on business failures throughout the next year. In the face of the changing domestic and global economic climate, recognizing and managing future risks becomes a priority for the nations business leaders. The predicted rise in business failures highlights the important role that trade credit insurance can play within the business environment, said Euler Hermes ACI Vice President of Marketing Keith Sherman. A Euler Hermes ACI credit insurance program provides a valuable extension to a companys credit management practices a second pair of objective eyes when approving buyers, as well as an early warning system should things begin to decline so that exposure can be effectively managed, he said.
And, ultimately, should an unexpected loss occur, the trade credit insurance policy provides indemnification, thus protecting the policyholders revenue and bottom line. Euler Hermes ACI utilizes a proprietary database that monitors the credit worthiness of more than 40 million companies worldwide; this provides advance warning for policyholders and allows losses to be minimized in the event of a large corporate insolvency. Further analysis of the Global Business Failure Index is available in the Euler Hermes Insolvency Outlook publication, which is available upon request. Euler Hermes ACI is the US subsidiary of the Euler Hermes Group and the oldest and largest provider of trade credit insurance in North America. For more information about Euler Hermes ACI products and services, visit www.eulerhermes.com/usa.Euler Hermes is the worldwide leader in credit insurance and one of the leaders in bonding and guarantees. With 5,400 employees in 43 countries, Euler Hermes offers a complete range of services for the management of customer receivables.
The group posted a 2 billion euro turnover in 2005. The North American subsidiary (Euler Hermes ACI) is headquartered in Owings Mills, MD. For more information visit www.eulerhermes.com/usa. Euler Hermes, a subsidiary of AGF and a member of Allianz, is listed on Euronext Paris. Standard & Poors rates the group and its principal credit insurance subsidiaries AA-.Press Contact:Rick OstopowiczEuler Hermes ACI Public Relations and Communications SpecialistPhone: (410) 753-0652.
How a Missing Signature Killed the Dreams of the Donald Jenkins' Family - Are You Making the Same Mistake?
The headline and accompanying article were only 3 sentences long:"Tragedy Strikes Local Family - Donald Jenkins was killed yesterday evening in a single car accident when the vehicle he was driving hit a patch of ice and lost control striking a concrete bridge support. He is survived by his wife and three children."Can two sentences sum up the life of Don Jenkins?No way. You see I knew Don Jenkins and I bet you have friends just like him. A great guy, a loving husband and a caring father. Heck, you might be just like him yourself.
Let me take a moment to share with you the story behind the story:The accident occurred on a Friday evening in early December. I had just talked with Don earlier that afternoon and he was on top of the world. So many things were going right for him, he joked, it just wasn't fair for anyone else. He and his wife Marianne had been married for 24 years and she had given him three terrific kids. The oldest, Sarah, had announced at Thanksgiving that she was...
How a Missing Signature Killed the Dreams of the Donald Jenkins' Family - Are You Making the Same Mistake?
Auto insurance > How a Missing Signature Killed the Dreams of the Donald Jenkins' Family - Are You Making the Same Mistake?
Command Line Tool to Send Rich Email From absolutePDF
(ContentDesk) March 9, 2006 -- Now the power of sending emails from command line, on any Windows system, is in the hands of any user, from the system administrator to the web designer.absolutePDF just released a new version of absoluteTools-Sendmail CMD, one of the most powerful command line tools to send email. With an unique auto-harvesting feature, sending rich text emails is really easy and accessible to everybody: just create locally an HTML page for the email body, with all the images and css files needed, and the command line will automatically gather all local referenced images and css files and embed them in the email.The ability to directly interact with the ISP's SMTP server, enhanced now by the SMTP authentication capability built into the tool, makes it perfect for a large number of tasks: sending alerts from monitoring systems, creating rich text newsletters, making advertising mass mailings for opted-in users, etc.The command line tool comes with a sample to get you started...
Command Line Tool to Send Rich Email From absolutePDF
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10 More Steps to Internet Success
This article will teach you the basics of starting your first internet business. You'll be introduced to some very useful products and services. You can also use this as a checklist to help stay focused and make it easier to set up and improve your internet business.
1) ?Find a Market' - Find a market before you decide on a product. If you pick a product first then find out later there isn't a market for it, you will have wasted a lot of time and money. So be sure to look for the market first.
Also try to find an area that inspires or excites you. If you find your passion then it'll be easier to stay motivated when building your business. Use Google to search different keywords. Try searching with Yahoo to see what else is selling. Check eBay for all their different categories.
And use ClickBank to look for interesting markets. When you locate a market and find out what people want, all you'll have to do is sell it to them. After your first internet project...
10 More Steps to Internet Success
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InsureMe Announces New Insurance Resource Center
DENVER (ContentDesk) May 24, 2006 -- InsureMe, the leading online insurance shopping service, has announced the rollout of its Insurance Resource Center, which contains numerous articles on the topics of auto, home, life and health insurance. The InsureMe Insurance Resource Center was designed to educate consumers about insurance, as well as provide them with relevant shopping information and tips for saving money on coverage. 
At InsureMe, were committed to helping people find the right insurance, said Affiliate manager, James Omdahl, and that means providing them with the information they need to make good purchasing decisions and save money. In addition to general insurance information and tips, the Insurance Resource Center contains a comprehensive collection of articles to help consumers find insurance information as it pertains to their state. Insurance laws and policies...
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