The DoJ, asked for names based on its earlier count, identified 53 former CFOs in all; CFO.com adds another 10 from its files.
Kate Plourd, CFO.com | US
August 3, 2007
Due to the misdeeds of the CFO's listed companies hiring/promoting practices are becoming more draconian than ever. Companies scouring candidates and employees background for misdemeanor driving incidents or less than perfect personal credit, regardless of the relevancy to the position be filled or their job. With layoffs and mergers, highly knowledgeable executives and employees, who are not likely to do such misdeeds are laid off. Their search for employment can, according to some estimates, expect to take 16 months or longer to find new employment, thus stressing their personal finances and in turn they become an ancillary casuality of others misdeeds. Add to that the probability that most of the convicted CFO's listed either had exemplary backgrounds before their misdeeds or were not subjected to such draconian privacy invasion in the hiring or promotion process and ancillary casualties are piling up. Counting as its vicitms executives and employees who are trying to make a living in today's volatile job market who would never think of doing the misdeeds they are indirectly being penalized for.
Posted by ROD FERRARA | August 23, 2007 03:59 pm© CFO Publishing Corporation 2009. All rights reserved.