Trade horror movie of 2010?
“Here’s a start for your horror movie,” Roger Cunningham, president and owner of United Risk Consultants tells me as we begin to talk about political risks for exporters in North Texas. He tells me that we are seeing ”unprecedented” worldwide insolvencies in 2009 that are continuing into 2010. This means that companies are in a lot of financial trouble.
Some may ask, ‘how does this impact me? I have great relationships with my buyers.” Contracts signed three years ago under the best of intentions are now facing extraordinary uncertainties. Buyers are unable to follow through.
Are you doing business with Greece, Iceland, Ireland, Italy, Portugal or Spain? Many executives are beginning to worry about the enormous debts of these and other governments around the world. Will they be able to support their own obligations, much less support their business communities in a time of need?
“Political Risk includes military wars, but in my experience, many people don’t think about trade wars which happen much more often,” Roger tells me. “The cancellation of an import or an export permit can certainly stop payment on an order; not to mention any and all future orders.”
An example is the provision in the Stimulus Act of 2009 that prohibits Canadian, and other foreign-owned businesses, from competing for U.S. government projects. It also prohibits U.S. companies that source a percentage of their products from foreign-owned companies. Buying Canadian lumber? Chinese steel? You are likely out of the game for these procurement opportunities. Selling to these same companies? Many governments are retaliating, making it much less attractive for foreign-owned businesses to buy U.S.-made products.
Global Commerce can be a risky business if you’re not prepared and the Dallas Regional Chamber’s International Business Council wants to help you prepare. The fourth installment of the Navigating Global Risk Series will host a panel of experts to discuss ways to not be fooled this April fool’s day. “Insuring” You Get Paid in Global Commerce will be held Thursday, April 1, 2010.
The April 1 seminar focuses on banking, public and private sector insurance tools for risk management and discusses building these tools into an international sales contract. Confirmed panelists include Roger Cunningham, president and owner of United Risk Consultants and Kelly Kemp, business development officer at the Export-Import Bank of the United States. Other speakers will represent legal, corporate experience and the banking sector.
CPE- Accounting and MCLE (pending) continuing education credits are available for this course, with no course prerequisites.
The April 1 event will be held at the Westin Galleria Dallas. Prices for each seminar are $45 for Chamber members and $55 general admission. International Business Council members receive an additional discount.
Visit www.dallaschamber.org/global for more information or contact Kelle Marsalis at (214) 712-1901 or kmarsalis@dallaschamber.org to register.
Dallas Regional Chamber Announces Finalists for the International Business Achievement Award in the Small to Mid-Size Business Category
The Dallas Regional Chamber today announces its finalists in the Small to Mid-Size Business Category for the International Business Achievement Awards. 2009 finalists are:
- Berry Appleman & Leiden LLP
- Cressman Tubular
- Design Duncan Miller Ullman
- HRsmart
- RBC Life Sciences
- Stewart Systems
The nominees submitted extensive applications and were vetted through a judges panel of business executives in the North Texas region. The recipient will be announced at the 14th Annual International Business Achievement Awards Luncheon and Expo December 11, 2009.
This celebratory luncheon program will feature the Award recipients from the Small to Mid-Size Business category, Large Corporate category and the Individual category. The 2009 recipients will include:
- Large Corporate: Fluor Corporation, Award accepted by Alan Boeckmann, Chairman and CEO
- Individual: The Chiapas Project, Award accepted by Lucy Billingsley, Founder
- Small to Mid-Size: To be announced December 11, 2009
The Luncheon program will feature a fireside chat titled “Celebrating the Tradition of Success” led by longtime CBS Radio/KRLD Business Analyst, David Johnson.
To learn more about the International Business Achievement Award – Small to Mid-Size Business Category, visit www.dallaschamber.org/global. Register online.
Dallas Regional Chamber Honors Local Companies and Organizations
Nine Dallas area companies and organizations were honored at the Dallas Regional Chamber’s Momentum Awards held last night at the W Dallas Victory Hotel.
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Foreign Currency Fluctuation and Risk Management – How Does THAT Impact MY Business?
Every time I listen to KERA, I hear something about how China or OPEC or other countries are considering investing more in the Euro and purchasing fewer U.S. Dollars. As we all have heard, China now holds about $800 billion of our $1.58 trillion deficit. It can be quite confusing to navigate all of these related issues and may lead some North Texas business executives asking themselves “how does this affect my company?”.
The answer is a lot, especially if you are competing in the global marketplace (even if you aren’t doing international business, you are likely going to be impacted).
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Dallas Regional Chamber launches new Navigating Global Risk Series
As I am wrapping up my participation in this week’s CoreNet Global Summit in Brussels, I would like to take a moment to share some thoughts discussed and announce a related initiative my team is preparing to launch.
European economists discussed the economy and its recovery at length this week. The “V” curve recovery model was dismissed (think curves on a graph) as well as the “L” and even the “W” models. A new model was proposed by Deutsche Bank chief economist, Norbert Walker. The “triple- U” recovery with multiple ups and downs over the next several years. While he suggested that western economies would be recovering for a while, he thought that several Asian economies were (or are already) tremendously important to the economic recovery and in fact would be able to begin their departures from policies of monetary stimulation as early as this year or early 2010.
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Dallas Regional Chamber Staff in China working to attract business investments to Dallas
The Dallas Regional Chamber is on the prowl in the international marketplace. Turns out, as many of us already know, that the work ahead of us is significant.
How many of our readers have heard of Xiamen, China? Not many I’m afraid.
Most people in Asia know of the United States of course. They have heard of New York, Los Angeles, maybe San Diego, San Francisco or Chicago if they have family here. But ask them about Texas and there is a vague look of recollection on their face. Ask about Dallas and they ask, is that near New York City?
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International Business Achievement Awards Small to Mid-Size Award Application Deadline TOMORROW
The Dallas Regional Chamber’s International Business Council announces that its highly sought after International Business Achievement Award’s Small to Mid-Size Award application deadline is tomorrow, September 15th. The Award will be presented at the 14th Annual International Business Achievement Awards (IBAA) Luncheon and Expo to a small to mid-sized business whose global successes and outstanding civic involvement have raised the international profile of the DFW metroplex and contributed to the economic growth of the North Texas region.
The application is available on the International Business Council’s website. To be eligible, the applicant must: 1) be located in the 12 county DFW Metropolitan Statistical Area, 2) have less than $150 million in annual sales, 3) show growth in international business development, 4) have a distinctive method of achieving growth and continued success and 5) show active involvement in civic affairs through business development or professional activities. Applicants need not be Chamber members.
The Awards provide the Small to Mid-Size Award finalists and winner with both local and international visibility. Award winners will receive numerous benefits such as IBAA exhibit space, a feature story on the Chamber’s website, a company video profile shown at the Luncheon and linked on the Chamber website, recognition in the event marketing and press materials as well as in Chamber publications, and participation in a panel discussion with all the winners and moderator, David Johnson of CBS News, in front of an audience of 500+.
The 14th Annual International Business Achievement Awards: “Celebrating the Tradition of Success” will be on December 11, 2009 from 10:30 AM to 2:00 PM. The event is open to the general public; the cost to attend is $85 for Chamber members, and $125 for general admission. Sponsorship opportunities are available. For more information please contact Saadia Ahmed at sahmed@dallaschamber.org or 214-712-1901.
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Fluor Corporation Recipient of Dallas Regional Chamber’s Annual International Award
The Dallas Regional Chamber’s international staff knew without a doubt that it was time to recognize Fluor Corporation for the contributions that they have made to the Dallas area since their relocation to the Dallas metro area in 2005/2006.
The Fluor Corporation relocation to Las Colinas is indicative of the strengths of the DFW region. Fluor relocated from Southern California. Fluor selected the Dallas region primarily because of its accessibility to global clients, the East-coast financial markets and Washington, D.C. This is a common theme among relocating firms. For this reason, the Chamber celebrates the international business successes of the companies that call DFW home.
Alan Boeckmann, Fluor’s Chairman and CEO, joined the Chamber’s board shortly after his arrival in Las Colinas. Mr. Boeckmann has been a strong contributor, participating in a number of the Chamber’s activities. In 2008, he was a member of the judge’s panel selecting the finalists and recipient of the Small to Mid-Size Company Award for the 13th Annual International Business Achievement Award.
Fluor Corporation and its more than 42,000 employees design, build and maintain many of the world’s most complex and challenging projects. While based in DFW, Fluor provides world class expertise in the fields of engineering, construction, commissioning, operations, maintenance and project management to some 1,000 projects around the globe.
Fluor is a FORTUNE 200 company that believes good corporate citizenship begins in the communities where their employees live and work. Since 1952, the company and the Fluor Foundation have donated more than $138 million and countless hours of service to educational institutions and community organization around the world.
Please join the Chamber in congratulating Fluor Corporation for their accomplishments and contributions to the North Texas economy and community. We look forward to the Awards presentation and hearing from Mr. Boeckmann directly about the success of the Fluor Corporation on December 11, 2009 at the Fairmont Hotel. For information about the event, please visit www.dallaschamber.org/global.
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