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Wise agents realize the importance of working capital
- Article from:
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American Agent & Broker
- Article date:
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November 1, 2002
- Author:
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Copyright informationCopyright Commerce Publishing Company Nov 2002. Provided by ProQuest LLC. (Hide copyright information)
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For The Manager
PICTURE this cartoon: A group of agents are sitting in a classroom. "Agency Management 301: Working Capital" is printed neatly on the white board. The cartoon bubbles above the agents' heads say, "Boooooring!" "You mean our legislators are finally working?" and "Boy, I'm glad I brought Golf Digest to this class."
If life were fair, healthy food would taste better and important topics would always be interesting. Discussing working capital is indeed the epitome of boring. But as so many agencies are now discovering, especially in this hard market, working capital is quite important.
What exactly is working capital? Simply put, it is a firm's investment in its net current ...