​An outstanding amount of money will soon be due for borrowers of commercial debt. Will Nasgovitz, the chief executive of Heartland Advisors charted and explained in a recent article: "roughly $3.3 trillion - 48% of outstanding commercial debt - will come due by 2023." This could have massive impacts on businesses throughout the country especially if the debts are not repaid.

Should a business find themselves falling behind on bank payments, they may start to ignore or attempt to delay payment of vendor bills, thus causing a trickle-down effect of non-payment.

​If you find your attempts to recoup funds are being ignored contact MCB about our mediation or investigation process and reclaim your assets.

The United States Government shutdown has left many struggling to complete investigations required to run their businesses. The federally sponsored background check site, E-Verify, is not being actively managed and has left many businesses wondering what do. Many companies voluntarily use E-Verify when hiring employees but others are required. The FBI found that they were unable to receive information related to investigations they are completing because the systems are severely limited. Other prospective business owners have even been advised: "wait until the shutdown is over."

It is common knowledge that stagnancy in business can be a business's downfall, yet many large businesses have failed because they did not meet the changing world with new ideas. Bianca Miller Cole at Forbes explains that businesses such as Blockbuster and Toys R Us refused to adapt and it is likely the main cause of their demise. She believes, "if many of these businesses had understood or considered the importance of innovation or bringing new blood into the business or board they would still be here today." 
Fortunately, not all innovative ideas have to be monumental changes. Small modifications can have large impacts and help better your business. One way you can update a standard business practice is to update the way you recover your debt. Simply calling multiple times a month may not be enough to retain the money you are owed. If you are looking to innovate your debt recovery contact Morgan, Cohen and Bach and see how our modern approach can help you.

Through accumulated credit card balance data for over 2,500 cities, Wallethub has found the most and least sustainable credit card debts for cities within the United States. Cities with the least sustainable debt rank in the 99th percentile and have the longest payoff times. Some cities, such as those who rank in the 1st percentile, fare better than others and are likely better at handling their finances.
​
Some of the cities with the least sustainable debts are:
Fairbanks, AK
Juneau, AK
Menlo Park, CA
Palo Alto, CA
Hoboken, NJ
Park City, UT

Some of the most cities with the most sustainable debts are:
Grand Junction, CO
Coral Gables, FL
Jackson, MO
Atlantic City, NJ
Allen, TX
Gainesville, TX

Fewer carriers, poor underwriting, new laws, and technology make insuring carriers in the transportation industry very interesting. In a recent interview with Insurance Business America, Kenny Planeta from Heffernan Insurance Brokers explains that the biggest issue is  "huge lawsuits with even bigger verdicts" and that "The insurance carriers are forced to keep the cases out of court and push for settlements even in cases where the truck is not at fault. This has caused poor underwriting results, which are driving increases in premiums."
Not only do attorneys attempt to take advantage of the large liability insurance coverage but tow companies will sometimes charge over-inflated tow bills hoping that insurance carriers will simply pay out.
MCB has worked with many different insurance carriers and is the industry leader in decreasing excessive tow bills. If you feel your tow bill is unjustly charged, please contact our office at (520)442-1303.

Legal disputes while sometimes imperative to reach a resolution between parties can be untimely and costly. Due to this, many companies are opting for mediation. Similarly to litigation, mediation can be beneficial when working with parties to reach a decision. However, mediation does have additional advantages. According to Netimesmagazine.co.uk, mediation is beneficial and can help a business because it is fast, cost-effective, saves relationships, legally binding, and it is convenient.

Your creditworthiness can be an important aspect of your business and can be a useful tool in securing funds from lenders. Unfortunately, some business owners don't take the necessary steps toward increasing their business credit. If you are looking to increase your business credit the following tactics recently released by US News may help:

- Establish your business as its own entity.
- Get noticed for your responsibility with money.
- Pay your debts on time.
- Limit how much debt you carry.
- Don't avoid credit entirely.
- Check your business credit report. 

A recent report released by the Federal Reserve revealed that the debt levels for businesses are at the highest levels seen in 20 years. Although standards have been in instilled following the 2008 financial crisis, the growing rate of business debt is concerning. The report shows that while the quality of lending remains, banking institutions appear to be taking more aggressive risk-taking for loans. According to CNBC, the U.S. Corporate debt level had already reached a record of $6.3 trillion, in June of this year.

​Overall, in the United States, people in most of the states manage their credit well. Most states have an average rating of fair or better, while several states average credit score ratings of good or very good.
Credit scores are a well known and frequently used indicator to gauge a person’s or company’s financial health. A good credit score typically indicates a predisposition for good financial behaviors. While a lower score shows the opposite. Although scores are calculated slightly differently depending on the credit bureau, they are mostly dependent on a series of factors, including, but not limited to, how much credit you have, your payment history, and the types credit you use. Business credit scores use similar elements in their calculations, but they also look more deeply in to your business and industry.
If you need a comprehensive credit evaluation completed on a business vendor contact Morgan, Cohen and Bach at (520)442-1303.

  Controversy is brewing around an Environmental Protection Agency (EPA) proposal to deregulate the sales and use of “Glider Kits” in the United States.
    Glider kits are trucks which are sold with key parts missing, usually the engine or transmission. Third party manufacturers then install older refurbished parts. Using older parts allows these rigs to sell at a cheaper rate and avoid some of the environmental regulations that newer trucks are held to.
   24 members of congress are pushing for the proposal but are receiving push back from a coalition of trade groups, manufacturers and suppliers.
    “The EPA proposal, if finalized, would have broad negative ramifications beyond allowing the sale of glider vehicles, which could undermine hundreds of thousands of jobs and billions of dollars of investment by manufacturers, suppliers, dealers and truck purchasers in the U.S. and jeopardize states’ ability to meet their clean air goals,” said the coalition.
    The coalition demands the EPA perform a regulatory impact analysis (RIA) to understand potential impacts of deregulation. 
    Only a few studies of Gliders have been conducted but one made public on Nov. 20, 2017 showed that gliders emit 43 times the amount of nitrous oxide as new trucks and emit particulate matter at 55 times the rate of new trucks.
    Deregulation “risks major impacts on air pollution and public health,” said senior attorney of the Environmental Defense Fund, Martha Roberts. “For these major decisions, it’s required, and it’s common sense, that the administration should properly weigh and share with the public the impacts that are at stake.”
    EPA officials responded in a letter saying “It is our understanding the EPA does not need to conduct a RIA for deregulatory issues and taking such a step would delay the regulatory action unnecessarily.” Performing an RIA “may adversely impact the U.S. economy by $1 billion and jeopardize 22,000 jobs.”
   If you are dealing with overinflated tow bills and need your truck and trailer released expediently, call Morgan, Cohen & Bach at (520) 442-1303.

​    After three and a half years of illegal tows, Bronx towing company, 809 Collision, has had its license removed by an administrative-law judge.
  Several motorists complained to the Department of Consumer Affairs and, after an investigation, 809 was found guilty of performing unlawful tows, inflating fees, and refusing credit card payments from victims.
    “It’s a scam,” said Johanna Paniagua, whose husband had his car towed after legally parking in a McDonald's parking lot.
    “They came out and the car was gone,” Paniagua said. “They thought it was stolen.”
Another appalling story comes from an 83-year-old driver whose was forced to pull over after experiencing engine trouble.
   “My car was obviously smoking and he was pretending he couldn’t see that,” the driver wrote. The operator refused to release the car until the driver paid him $135 cash.
    “I was basically robbed by them,” the driver said.
  If you are dealing with overinflated tow bills and need your truck and trailer released expediently, call Morgan, Cohen & Bach at (520) 442-1303.

​  Businesses all around the U.S. are facing a new problem, the appalling shortage of new truckers.
  70 percent of all cargo moved in the U.S. is moved with trucks. With our economy growing and two day shipping becoming the norm, we need more truckers to compensate for the increased production.
  Instead, researchers are seeing a shortage of drivers within the industry. We are not hiring enough truckers.
  In a study by the American Trucking Associations (ATA), America had a shortage of about 20,000 drivers in 2013. By 2018 it rose to 51,000. Models predict that by 2020 the number will shoot up to 100,000.
   “It is at crisis level,” said Thomas Balzer, president and CEO of the Ohio Trucking Association. “Walking into the local retailer and having a shelf full of product is in jeopardy.”
  Suppliers are now having to pay higher costs to ship their products because of the shortage of trucks. Already retailers have tried to pass this cost off to consumers but reluctantly  rolled the idea back after Walmart refused to raise prices.
 “We're seeing [higher freight expenses]” said Deborah Thomas, chief financial officer for Hasbro. “A lot of it is really coming in the U.S. and it's a little bit throughout Europe as well. And it's really coming from the trucking industry and higher due to the new electronic logging device rules and driver shortages.”
   The U.S. Government has also decided to get involved by lowering the barrier of entry for new truckers. The DRIVE-Safe Act, a new piece of federal legislation, seeks to lower the minimum age of interstate drivers from 21 to 18. Members of the trucking industry complain that during these three years, workers who would consider trucking choose pursue other fields who do not have age restrictions.
  If you are dealing with overinflated tow bills and need your truck and trailer released expediently, call Morgan, Cohen & Bach at (520) 442-1303.

​    Representatives from all sectors of the trucking industry joined members of the California Air Resources Board to express their opposition to new fuel economy rollbacks.
    After Scott Pruitt, head of the Environmental Protection Agency, decided to remove Obama era fuel economy requirements, California and 13 other states decided to create their own fuel economy standards in line with the old regulations. This puts trucking right in the middle, with two sets of rules truckers have to abide by depending on the state they travel through.
   “Complying with regulations costs money,” said James Burrell, assistant vice president of American Honda’s advanced powertrain group. “Complying with two sets of regulations costs even more money. Those costs are inevitably reflected in the prices manufacturers charge for their products.”
    So at the 2018 ACT Expo green transport conference in Long Beach, California, last week, trucking companies such as UPS, Honda, Cummins, and many more declared their support of California’s stricter fuel economy regulations.
    “We have invested millions and we continue to invest” in clean technologies aimed at meeting these standards, said Steve Gilligan, vice president of product marketing for Navistar.
  If you are dealing with overinflated tow bills and need your truck and trailer released expediently, call Morgan, Cohen & Bach at (520) 442-1303.

​   When considering how to maximize how much you are being paid, many people focus on some obvious changes. Work ethic, results, and experience are big factors but one most people don’t consider is location. 
    Most salaries are based on what else everyone around you is making. If you are in a small town, it will be harder to make the same amount of money as if you were in a major metropolitan area. 
    In a new study from howmuch.com, researchers show us which cities we should think about moving to if we want to make the most for our work.
    Major cities like San Francisco, Boston, and Seattle are high in the list of high wage payers. 
    For more info on everyday statistics you can visit www.howmuch.com

​   Daimler Trucks is recalling 7,128 heavy duty trucks due to an electrical system defect that increases the likelihood of their trucks catching fire.
     Affected models are the Western Star 4700, 4900,5700, and 6900 model years 2017 - 2019.
    According to a National Highway Traffic and Safety Administration report “a potential exists for contract between the power stud and bulkhead resulting in potential arcing” increasing the risk of fire.
   Daimler will be notifying owners and dealers on May 21st and offers to inspect the pass-through power stud for clearance to the bulkhead and make necessary repairs for free.
     If you have questions for Daimler you can contact their North American customer service line at 1-800-547-0712.

   How much does it cost to own a home? Well as every real estate agent has said “It's all about location location location.” A recent study from HowMuch.net, a cost information website, shows us how expensive homes are depending on which state you live in.
   Hawaii has the most expensive real estate with an expected yearly salary of $153,000 to afford the average house. On the other hand West Virginia has the cheapest real estate with an expected yearly salary of $38,000 to afford the average house.
   Homes on the east coast are surprisingly more affordable especially considering that there is much more land for development in the west. The most affordable housing being around the middle of the US leaning east.
     You can review more studies at...
https://howmuch.net/ 

    Cargo theft is a substantial problem. Roadscholar.com estimates that in 2016 there was almost $173 million lost because of cargo theft in the United States and Canada.
    Wayne Hummel, a cargo and auto theft investigator or the Insurance Bureau of Canada (IBC), gave advice for how to prevent this theft.
    “Any loaded trailer with cargo in it that’s sitting is at risk,” Hummel said. “My suggestion to anybody with a load, don’t leave it sitting. If you have to leave it sitting, have some kind of security on it, especially if it’s an expensive load.”
     Thieves have many different strategies to steal cargo ranging from a simple grab while the truck is parked in a trucking yard to setting up fraudulent companies that gain possession of the cargo.
   Some companies are combating the theft by keeping their trucks on the move at all times. Drivers trade off cargo at rest stops so they can take breaks while not allowing cargo to stay in one place too long.
    Hummel recommends that if your cargo is stolen to immediately report it. The IBC and law enforcement were able to recover half of all reported theft claims. ​

     Three European cargo ships are being fit with strange new sails. Rotor sails, unlike traditional sails which catch wind to generate thrust, use large smooth columns which the wind rotates generating thrust.
It’s expected that these rotor sails will save almost $200,000 per ship every year.
    “The ability to harness the wind as an additional power source to enable a reduction in fuel consumption is a natural next step for the maritime transport industry,” said Tuomas Riski, who took the old concept of rotor sails and updated it with modern technology.
    The sails cost between 1-2 million euros meaning the sails should pay for themselves in a few years.

     To read more about these sails and their future check out the link below.

https://www.forbes.com/sites/oliversmith/2018/03/12/norsepower-why-european-ships-are-switching-back-to-sails/#496fead126a0 ​

   Huawei, A Chinese tech company is taking large strides to create and implement new 5G networks.
    The company is trying to beat American competitors to market to establish themselves as the first company to offer 5G services.
    While you might be happy to see your internet speeds increase, US intelligence officials are wary of prospect.
     “We’re deeply concerned about the risks of allowing any company or entity that is beholden to foreign governments that don’t share our values to gain positions of power inside our telecommunications networks,” said FBI Director Chris Wray. “That provides the capacity to exert pressure or control over our telecommunications infrastructure. It provides the capacity to maliciously modify or steal information. And it provides the capacity to conduct undetected espionage.”
     In response ZTE, a company working closely with Huawei, promised to follow “all applicable laws and regulations of the United States.”

     To read more you can follow the link below.

https://smallbiztrends.com/2018/03/china-vs-usa-in-5g.html ​