Woodworth & Frisella

This week’s Blawg Review has been posted over at Ambivilent Imbroglio. Nice Job!

Much to my relief I got a call today from my client from New Orleans. He was calling from Tuscon Arizona and working in a branch office. He was talking faster than the speed of light and that made me wonder if it was the ongoing Adrenalin rush from what he has been going through for the last two weeks.

He started out by saying he was a “coward” because he high-tailed it out of town. “Coward” isn’t exactly the word I would use. In retrospect he was closer to brilliant. With the benefit of hindsight it’s hard to imagine anyone opting to stay.

He spent the first night with family in Baton Rouge and watched the trees bend in 100 MPH winds.

I don’t know how or when he made it to Arizona, but he said that he had been treated well by just about everyone. He is fully insured, and suggested that all those years of paying premiums has paid off. That’s the odd way we all look at insurance I guess, but even so I found it funny.

His auto carrier for his brand new car has given him replacement coverage for 40 days and said to simply call if he needs it to go on longer. His mortgage company has suspended payment for 90 days and said to call if he needs the suspension to be extended. His homeowner insurance company has forwarded him a check for $2000 for temporary living expenses.

OTOH one of his co-workers is getting evicted for non-payment of rent. Apparently the landlord thinks he can rent the place for twice the amount now, if he can get her out. I can’t imagine that they could find a judge to act on that request.

They think they will be back up and running in NO by October. That would be truly amazing if it happens.

With the exception of the eviction all of that is very good news.

Meanwhile we continue to collect clothes and supplies for the victims. I’ve learned that two families have come to stay at the local convention center – not the 500 people I recommended here. I hope to encourage my Rotary Chapter to aid some people with local ties. Watch for updates.

This week my article in Boston Women’s Business was published.

I also made Blawg Review (Carnival of Blawgs) for my article on Women and John Roberts.

We’ve been busy busy busy so blogging is down a bit. I hope to return to it soon.

Rumors abound that the local Convention Center operated by the DOD will be used to house victims of Katrina.

The hotel has 235 rooms, which are empty most of the time. The Center is owned by the Federal Government and operated under taxpayer subsidy. I belong to the gym there and can attest that it is attractive, up to date and generally vacant.

The town of Southbridge does not need another 500 unemployed people, so the next question becomes what do the people do, once transplanted to Massachusetts?

Southbridge borders Connecticut, and is close to the home of Foxwoods and Mohegan Sun Casinos.

These Casinos are operated under a special federal dispensation which could be made available to a survivors of Katrina. Many of the displaced people made their living working in Casino’s in the Gulf Coast. They bring an expertise that could be easily utilized. The project would alleviate unemployment in the local area and would pay for itself in short order. We need a donation of some Federal land, some local cooperation and we would be off and running.

There is no time like the present.

Disaster, particularly natural disaster is often a boon to my business. Obviously it’s a boon that most people in my business would happily forgo.

Business in the affected areas has been halted for the foreseeable future. This includes Florida, Louisiana, Mississippi and Alabama. Transactions with those business which are to date not paid, will probably not get paid any time soon. Accounts receivable balances, and DSO for those doing business with the affected area will rise.

We can expect a trickle down effect throughout the economy. If a business that owes you money is doing business with a company destroyed by the hurricane, your rate of recovery will slow.

This is the time to make sure your receivable is on the top of the pile for payment. You can find suggestions for accomplishing that here.

As mercenary as it sounds, you won’t do the affected businesses and their employees any good by going out of business because you can’t collect what is owed to you. The time to get on top of your unpaid receivables is now.

09-02-2005 02:03:35PM – Permalink – Post Reply – Read Comments [0]
Our Missing Commercial Debt Collection Client

Still no word on my New Orleans based client Newton & Associates (link not working). That’s not to say I expected any word. I called their Denver Office yesterday and was told they were “okay” and “trying to get a generator”. That didn’t make any sense to me given what is going on in New Orleans, but I didn’t press the issue. We will protect their interests until they emerge.