What’s Going on Today in Finance?
Today’s roundup includes why Wall Street is confident in a new deal between SABMiller and Anheuser-Busch after SAB board claims (for the third time) $104 billion takeover is inadequate. Also Monsanto, an agricultural company, cuts nearly 12% of its workforce (2,600 jobs) to combat the slumping commodity market. An accounting fraud case where top OCZ Technological Group executives have been charged due to failure of preventing miscalculation of sales accounts. And, Fifth Third Bancorp pays $85 million for waiting to long to report defective mortgage loans. Get the specifics on all these stories and more, right here in the CFO roundup…
SABMiller Spurns Anheuser-Busch for Third Time
While SABMiller said AB InBev’s revised $104 billion offer is inadequate, Wall Street appears optimistic a deal will eventually be done.
Should Microcap Companies Go Private?
By staying public, small companies could actually be destroying shareholder value, not boosting it.
>> Mark Kwilosz
Business Satisfied (But Not content) with Transaction Bankers
Twenty-three percent of finance executives are renegotiating banking contracts and 25% are actively seeking new banking partners, says AFP.
>> Vincent Ryan
Four Steps for Assessing Product Profitability
Collaboration, coupled with a commitment to a disciplined process, can lead to better product decisions.
>> Matt Freeman
Everything the Finance Exec Needs to Know About Cyber Security
Many CFOs are being called upon to help promote cybersecurity and identify threats.
Monsanto to Cut 2,600 Jobs in Restructuring
The company says “focus and discipline” are key to its efforts to reorganize amid a third straight year of sagging agricultural commodity prices.
Top OCZ Execs Charged With Accounting Fraud
Former CFO Arthur Knapp agrees to pay $130,000 to settle charges he failed to prevent the misclassification of sales discounts.
Fifth Third Settles Fraud Charges for $85M
The Cincinnati bank was accused of waiting too long to report that more than 1,400 mortgage loans were defective, resulting in federal insurance losses.
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