Giving Credit, Where Due --Dickeson

Let me suggest what one of the primary problems is—call it "Chasing Receivables." It's extending credit beyond that 30-day policy in the hope that a little more credit will enable the customer to pay the invoices. That's a fatal mistake that leads inevitably into quicksand. I'd even go so far as to venture that 25 percent or more of the bankruptcies of printing companies in the past quarter century has been due to chasing receivables.