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Article: WEST COAST FACTORS MEAN BUSINESS BOOM.
- Article from:
- WWD
- Article date:
- September 20, 2004
CopyrightCOPYRIGHT 2004 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Ross Tucker
LOS ANGELES -- As the factoring industry continues to consolidate, competitive pressure is reaching a boiling point, and nowhere is this more evident than here, according to three West Coast-based factors during a recent WWD roundtable.
The factoring firms, companies that handle suppliers' receivables for a fee, said new businesses, soaring import levels and the West Coast's position as the gateway into the U.S. market have created a boom in business.
The pace of growth has been frenetic in recent years. "Evidence of that would be the port of Los Angeles, which has gone from operating from 9 to 5, to being open 24 hours a ...