In the case of factoring, the primary association is IFA, the International Factoring Association ( www.factoring.org), where he served as an officer until April 2012 and periodically publishes articles on factoring and financing trends.

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He estimates that Expedia will post a profit margin of 21.9% in 2011, factoring increased spending to strengthen its position in international markets, vs. 22.7% in 2010.

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