Tuesday
1:30–3:00 p.m.
Slides are available after login

Looking Toward the Future

Bill Creim • Susan Duncan

The state of the economy and its effect on business and the law will be addressed by the team of Bill Creim and Susan Duncan.

Find out what is in store for credit in the next few years. Susan will help you wade through the economic, political and hysterical data in an easy to understand format to help you navigate the economic recovery.

Bill will address the emerging ramifications of the economic downturn and credit crunch. Topics covered include:

  • Impact of private equity funding replacing traditional financing.
  • Likely changes in the law including taxation, credit regulation and antitrust.
  • Outsourcing of credit and finance functions to foreign countries.
  • What will happen to the beleaguered dollar?
  • When will inflation rear its ugly head?
  • How will the 2010 elections dictate interest rate movement?

The program is filled with practical insights and information, but presented in an entertaining and often humorous manner. Come hear Bill and Susan and win your own economic credit stimulus prize.

Tuesday
3:15–4:45 p.m.
Slides are available after login

Financial Statements Analysis

Jim Menard

This program will review the financial reporting environment, overview of corporate annual reports (what’s good and what’s not), spotting issues in annual reports, and the warning flags in the footnotes.

The first step when evaluating a firm’s financial statement is to determine the borrowing needs, assess the firm’s ability to service the debt, and evaluate sources of debt repayment. In this program, we will review the primary sources of Financial Statement Analysis including the basic four Financial Statements, Auditors Reports, Financial Statement notes, Cash Flow Statements and Common Size Statements. We will analyze sample reports by looking at liquidity of short term assets, long and short-term debt paying ability, profitability, segment reporting and quality of earnings.

We will also discuss basic financial ratios vs. industry standards and examine danger signs of which credit professionals need to be aware. You will leave with a better understanding of Financial Statements and be able to develop your own screening policy for review of these statements.

Tuesday
4:45–6:00 p.m.

A Guided Walk on the Barbary Coast Trail

Shake off jetlag with a complimentary walking tour on the middle (and level!) section of San Francisco’s official trail. Your guide/story-teller is David LeSuer, Senior Credit Manager with Renesas Technology, and an expert on San Francisco’s famous characters and vivid history.

A “one-mile meander” brings history alive through stories:

  • Union Square: scandalous monument
  • Maiden Lane: notorious past plus Wright’s Guggenheim prototype
  • Chinatown: tong war, opium dens, painted balconies
  • Portsmouth Square: Yerba Buena, Pathfinder John C. Fremont, scout Kit Carson, the start of the Gold Rush
  • Barbary Coast District: tales of the long wharf, graveyard of ships, Mark Twain and Shanghai Jim Kelly

Then back to the JW Marriott in time to start the evening…

Tuesday
6:00–7:30 p.m.

Welcome Reception

The always-lively opening reception provides great networking with credit peers, speakers, and Riemer staff, fueled by beverages and snacks compliments of Riemer.

Would you enjoy going on to dinner with other Riemer Week attendees and speakers? Great! You’ll find a warm welcome from groups forming to do just that as 7:30 approaches.

Wednesday
8:30–10:00 a.m.
Slides are available after login

The Current State of Retail:

Economic & Retail Trends for 2010

Dennis Cantalupo

This comprehensive course relates macro economic factors including the impact of high unemployment rates, erosion in investment values, and a depressed real estate market to consumer behavior. The program also discusses measures that retailers are taking to survive a slow economic recovery, and to position themselves for market share gain on the other side. The session will conclude with an analysis of which retail segments have performed better than others while also addressing the continued evolution of retail into the online and digital age.

Wednesday
8:30–10:00 a.m.
Slides are available after login

The Future of Banking

An Update on Electronic Check Deposits and New Features in Banking

Mark Walker

The past several years have seen a strong shift towards electronic banking and internet-based applications. The change is so significant that the Federal Reserve has responded by reducing the number of check processing sites from 26 to 1 site as more than half of all checks are now cleared via image.

Check image processing requires additional controls not necessary in traditional paper depositing and today's discussion will provide an update on the new regulatory requirements for imaging and information security.

Our speaker will also look to the future of banking by addressing current market trends such as mobile applications, virtual lockboxes, alternative scanners, optimized routing of payments and A/R integration solutions and the benefits for companies utilizing these tools.

This program will provide you with suggestions for how to improve your funds availability, eliminate trips to the bank, increase your collection rates, streamline your cash application and save your company money on banking services.

Wednesday
10:15–11:45 a.m.
Slides are available after login

The Future of Trade with China and Taiwan

Jeff Jankowiak

China’s economy during the past 30 years has changed from a centrally planned system that was largely closed to international trade to a more market-oriented economy that has a rapidly growing private sector and is a major player in the global economy. Reforms started in the late 1970s with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, the foundation of a diversified banking system, the development of stock markets, the rapid growth of the non-state sector, and the opening to foreign trade and investment. Annual inflows of foreign direct investment rose to nearly $108 billion in 2008. China has generally implemented reforms in a gradualist or piecemeal fashion. In recent years, China has re-invigorated its support for leading state-owned enterprises in sectors it considers important to “economic security,” explicitly looking to foster globally competitive national champions.

Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. Exports, led by electronics and machinery, generate about 70% of Taiwan’s GDP growth, and have provided the primary impetus for economic development. This heavy dependence on exports makes the economy vulnerable to downturns in world demand. In 2009, Taiwan’s GDP fell by 2.5%, due primarily to a 20% year-on-year decline in exports. Taiwan’s diplomatic isolation, low birth rate, and rapidly aging population are major long-term challenges.

Our speaker has been directly involved in business dealings by companies in the U.S. with organizations in both China and Taiwan. His predictions for the future of trade with these countries will be informative and revealing.

Wednesday
10:15–11:45 a.m.
Slides are available after login

Looking Toward the Future

Bill Creim • Susan Duncan

The state of the economy and its effect on business and the law will be addressed by the team of Bill Creim and Susan Duncan.

Find out what is in store for credit in the next few years. Susan will help you wade through the economic, political and hysterical data in an easy to understand format to help you navigate the economic recovery.

Bill will address the emerging ramifications of the economic downturn and credit crunch. Topics covered include:

  • Impact of private equity funding replacing traditional financing.
  • Likely changes in the law including taxation, credit regulation and antitrust.
  • Outsourcing of credit and finance functions to foreign countries.
  • What will happen to the beleaguered dollar?
  • When will inflation rear its ugly head?
  • How will the 2010 elections dictate interest rate movement?

The program is filled with practical insights and information, but presented in an entertaining and often humorous manner. Come hear Bill and Susan and win your own economic credit stimulus prize.

Wednesday
1:30–4:45 p.m.
Slides are available after login

The Recovery—Not for the Faint of Heart

Chris Kuehl

Now that the economy is emerging from the recession of 08-09, are we all enjoying robust growth and forgetting the travails of the recent past? Not so much—for two main reasons:

  1. Even our less-affected industries and regions must repair significant damage, while those harder hit will require many years to fully rebound.
  2. At the same time, a new round of issues must be faced:
    • Inflation
    • Higher interest rates
    • Consequences of a record deficit

A flood of options now compete for support, with more to come. The post-recession recovery will be greatly affected by:

  • Success of damage repair projects
  • Effects on inflation, higher interest rates, and record deficit results

Dr. Kuehl promises to address “these and other cheery subjects.” A favorite Riemer Week speaker, his programs combine valuable information and deep insights with unexpected humor.

Wednesday
6:00–10:00 p.m.

A Taste of San Francisco

Shot of Beach Blanket Babylon: people on stage and neon lights

Long known as the best view in town, the Skyline Room on our hotel’s 21st floor presents fabulous vistas of city and bay. Our Taste of California reception and dinner there offers buffets and action stations highlighting a variety of enjoyable regional foods.

Shuttles then whisk us to the famous “Beach Blanket Babylon” (21 and older), a San Francisco institution. The nation’s longest-running musical revue (and a Riemer group favorite), it’s an ever-changing, extravagantly-costumed, totally zany musical spoof of pop culture and current events. Non-stop laughs and show-stopping numbers in a festive nightclub atmosphere.

And after the show? Consider a stroll in the city’s historic Little Italy section before taking a cab back to the hotel.

Thursday
8:30–11:45 a.m.

Moving Back into the Front Seat

When Credit Risk Management Means Revenue and Liquidity

Dawson Beattie • Stephen Elson • Frank Pelly • Wes Takeuchi

Accounts receivable. They’ve been viewed by some in the organization as a liability. Yet open account terms are one element which has kept the global economy from slipping in a recession, and are now a prime resource generating the green buds of growth. That confidence Bernanke speaks about is Credit; Do we have enough confidence in our customers’ ability to pay to extend them credit? Without it, customers’ balance sheets can get small quickly.

Company credit executives are again at the solution forefront. With limited balance sheet resources, chief executives and their finance teams are looking for ways to maximize their working capital resources to facilitate revenue growth and liquidity. In other words, turn into an asset the very payment terms which some have viewed as a liability to be managed.

Credit executives can empower their companies to succeed. Risk management solutions that mitigate financial loss can be readily partnered with revenue goals and liquidity tools to deliver company growth. In addition to companies’ own balance sheets, resources are available from commercial banks, capital markets, and insurers. Markets have changed. For credit executives the good news is that it can be for the better. Functional knowledge of these products and how they integrate is power, and a requirement for “herding the cats” to deliver success. Each of the product solutions mitigates risk of financial loss, but business objectives ultimately determine which product or combination of products is the best solution.

A Working Capital Partner for credit teams and their executives must be able to coordinate, structure, and implement all three across geographic boundaries to deliver a Client’s business goals.

What’s a Credit Team’s message to the Chief Executives in this economy?

“Slide over and let us help with the driving.”

Thursday
1:30–4:45 p.m.

Making the Most of the New Global Economy

Chris Kuehl

On the other side of the downturn, what is the overall trend in trade? Which areas will emerge first? Which areas will emerge in better shape?

The recession of 08-09 was shared universally, but not equally. For example:

  • Asia has boomed again and Brazil and other parts of the developing world show signs of real progress
  • Europe is saddled with what to do about the PIIGS, and the U.S. slogs through a slow rebound

New global pressures abound: cautious credit markets, anemic GDP growth, stimulus plans, deficit spending, regulatory responses, other policy shifts, threats of inflation, etc. Which of these will significantly affect the different economies? How will they be changed yet again?

And is this the year of the dragon or only China’s brief moment before they, too, succumb to new global pressures?

A favorite Riemer Week speaker tackles these intriguing questions with his trademark combination of valuable information, deep insight, and unexpected humor.

Thursday
1:30–4:30 p.m.
Slides are available after login

M.M.S.C.A. Retail Action Group Panel

The Benefits of Communication & Collaboration

Jessica Butler

There are true benefits to be realized by both retailers and vendor organizations if they focus on communication and collaboration. Whether it is with other departments within their own organization or with their trading partners, there is an opportunity for everyone involved to look at the way they are currently working together and identify opportunities to improve the process.

In addressing internal communication, we can look at the AP/buyer relationships within the retail organization and the AR/sales relationships within vendor companies. There are similarities in how timely communication and collaboration is critical for successful and efficient business management and how poor communication and the challenges of sharing of information can cause problems “downstream.” We can examine challenges that companies face (everyone can see that they have similar problems within their companies regardless of whether they are a retailer or a vendor) as well as share success stories about what companies have done to improve their internal communication. Together, we will talk about strategies companies can try to improve their current processes and the long term benefits of success.

We can then talk about communication and collaboration between trading partners. We can discuss the importance of knowing the best way to communicate with your retail trading partners (i.e., timing, method) as well as methods to help understand individual retailer communication requirements. We will look at the pros and cons of face-to-face key customer meetings and develop a blueprint for success.

Thursday
5:45–9:45 p.m.

San Francisco Sights & Chinatown Dinner

Classic cable cars (well, the motorized ones you’ve seen on TV) pick us up at the hotel for a fun, informative tour of famous sights and historic neighborhoods including:

  • Ghirardelli Square
  • Marina District
  • Palace of Fine Arts
  • Fort Point
  • Presidio
  • Pacific Heights
  • North Beach
  • Nob Hill

Plus a photo op near the Golden Gate Bridge.

Our last stop is the largest Chinatown outside of Asia. A local guide leads us on a short walking tour and offers a brief visit to pick up just-baked (free!) samples at a fortune cookie “factory.” Finally, we enjoy an authentic Cantonese dinner at tables with lazy susans offering non-stop dishes. (P.S. Use of chopsticks is not mandatory, and American food is also available.)

Friday
8:30–10:00 a.m.

Focus on BRICs—Brazil, Russia, India, China—and Their Future

Scott Anderson, Ph.D

Since they are developing rapidly, by 2050 the combined economies of the BRICs could eclipse the combined economies of the current richest countries of the world. The four countries, combined, currently account for more than a quarter of the world’s land area and more than 40% of the world’s population. There is no argument that the BRICs could organize themselves into an economic bloc, or a formal trading association, as the European Union has done. However, there are some indications that the “four BRIC countries have been seeking to form a ‘political club’ or ‘alliance,’” thereby converting “their growing economic power into greater geopolitical clout.”

The speaker will provide a description of the economic, political and social conditions in each of the countries and share his opinion on the impact of the BRICs progress on trade with the U.S.

Friday
8:30–10:00 a.m.

Resale Tax Certificates

The State of California Explains Their Requirements

It’s 2010 and state tax audits are on the rise. The outcome for many will be penalties, interest, and back taxes. Will you have the appropriate documentation if your company is scheduled for a sales tax audit? Are you confused about the difference between a Sales Tax Permit, a Resale Tax Certificate and a Sales Tax Exemption Certificate? Do you know how to obtain the required forms and how long to keep them?

Each state has its own laws governing taxable sales. Today we will be joined by a representative from the California Board of Equalization who will demystify the Sales and Use Tax Laws in the State of California. He will review commonly encountered tax concepts including the Revenue & Taxation Code, regulations, court decisions and interpretations of the law.

The California tax law presumes that all sales of tangible personal property are taxable unless otherwise specifically exempted and that claimed exemptions MUST be supported by documentation. The taxpayer is responsible for maintaining and providing documentation for potential examination so our program will focus on what to obtain and how to obtain it.

Resale Tax Certificates will be closely examined and the speaker will answer questions from the California perspective regarding the required elements of a certificate, circumstances when a purchase order may be used in lieu of a Resale Certificate, how to verify a seller’s permit number submitted on a resale certificate and define the penalties for improper use of a Resale Certificate. He will review how often resale tax certificates have to be validated and by whom, how rental goods, promotional items, delivery charges and foreign commerce are taxed and review the requirements for retaining these documents.

Finally our speaker will discuss the audit process including how companies are selected for audits and what you can do to be proactive about discovering your potential liabilities and how to fix those leaks before you receive an audit notice. He will discuss services that are available to businesses to assist with tax questions.

This is a wonderful opportunity to ask your specific tax questions and remain anonymous. Submit your questions in advance of the program or bring them for the Q & A session.

Friday
10:15–11:45 a.m.
Slides are available after login

Legal Issues for Credit Managers—A Question & Answer Session

Richard Macias

A unique opportunity for a credit law “town hall.” Bring your specific questions to our attorney, Richard Macias, a specialist in the field of credit law. Questions and case studies from attendees will be compiled in advance of the program, as well as questions accepted during the presentation. Topics covered will likely include: guidelines for credit refusal, anti-trust situations, security options, protecting your company from sales tax audits, status of the Red Flag Rules and updates and interesting legal rulings affecting the credit field.

Friday
10:15–11:45 a.m.
Slides are available after login

The Realities of Outsourcing and Keys to Success

Jessica Butler

Almost everyone is talking about Outsourcing these days. Is it right for your company? Can it really succeed? Understand the factors you should consider when deciding whether or not to outsource. Learn the dos and don’ts of outsourcing by hearing case studies of what others have done.

Friday
2:00–8:00 pm.

An Afternoon in Napa Valley Wine Country

Join us for an afternoon tour of the Napa countryside and wineries. Our motorcoach will take us directly from our hotel over the Golden Gate Bridge and into Wine Country. We will make two stops for private tours and wine tastings at Napa Valley Wineries. We will finish our evening with dinner in the region before we are returned to the hotel. More details to follow.