Corporate Finance: Page 136
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Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
CFOs on the Move: Week Ending Dec. 5
Milacron has promoted Bruce Chalmers to the top finance spot. He takes over for John Francy, who is retiring at the end of the year. Chalmers joined the company in January as vice president of finance; previously, he led the finance function at MetoKote.Bruce Chalmers Cooper Tire & Rubber has...
By Joan Urdang • Dec. 5, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Pension Power for the 401(k)
Companies want their employees to retire at a reasonably young age, like 65. The employees want the same. Increasingly, neither is getting their wish.The legions of baby boomers unprepared for retirement are driving many changes in the 401(k) space, including one that could make the unloved retir...
By David McCann • Dec. 5, 2014 -
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TrendlineTop 5 stories from CFO.com
From CPA licensure changes to undergoing a digital transformation, these are the most popular stories CFOs are reading.
By CFO.com staff -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Time to Take Action on 401(k) Admin Fees
Employer sponsors of 401(k) plans may find themselves in a buyer’s market when it comes to administrative fees. If you haven’t revisited how much your plan is paying for recordkeeping services in a while, now is the time.When Joe McCusker became CFO of Wenger Corp. a year ago, one of the first th...
By David McCann • Dec. 5, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Low Prices No Tonic for Oil and Gas CFOs
Low gas prices may be a tonic for U.S. motorists, but they’re spooking energy executives. In a new survey, 45% of U.S. oil and gas CFOs said they expected low oil and gas prices to be their greatest financial challenge in the upcoming year — a 55% increase over the number expressing similar senti...
By Matthew Heller • Dec. 4, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Custom Target-Date Funds Gain Steam
Ever since the Pension Protection Act of 2006 eased restrictions on automatically enrolling employees in retirement plans, 401(k) plan sponsors have increasingly designated target-date funds as the default investments for those who don’t elect an asset allocation.This year, 86% of large and midsi...
By David McCann • Dec. 4, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Consulting Firm Automates Retirement Readiness Tracking
How high are the stakes for companies in making sure employees are prepared for a timely retirement? High enough that Buck Consultants has applied for a patent on an automated approach to keeping its clients’ employees on track toward that goal.By press time Buck had signed up two clients for its...
By David McCann • Dec. 4, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Special Report: Tuning Up the 401(k)
When I began covering employee benefits in 2008, I wondered whether employers really cared whether their workers were well prepared for retirement, as they said they did. When I asked experts, their responses were along the lines of, “The better a 401(k) plan is, the more value it has as a talent...
By David McCann • Dec. 4, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Sony Says Private Data Stolen in ‘Brazen’ Cyber Attack
The top executives at Sony Pictures Entertainment have confirmed that a “brazen” cyber attack on the Hollywood studio using a rare data-wiping virus has resulted in the theft of a large amount of confidential data, including personnel information and business documents.Cyber attackers identifying...
By Matthew Heller • Dec. 3, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Assisted Living Execs Faked Senior Residents, SEC Says
The former CFO and CEO of a company that operates assisted living centers were charged by the Securities and Exchange Commission with listing fake occupants at several senior residences to meet the terms of a lease and misrepresenting in regulatory filings that the company was in compliance with ...
By Matthew Heller • Dec. 3, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Supreme Court to Clarify Workplace Protections for Pregnant Women
The U.S. Supreme Court will hear arguments Wednesday in a case brought by a former UPS truck driver that may clarify what accommodations employers must make for pregnant women under the Pregnancy Discrimination Act.The law, enacted in 1998, provides that “women affected by pregnancy, childbirth, ...
By Matthew Heller • Dec. 3, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Who Will Profit From the Internet of Things?
The Internet of Things (IoT) has been on my mind a lot lately. There are compelling arguments that giving “everything” some small amount of processing capacity, appropriate sensors, and a network connection – making everything “smart” – will usher in a multitude of new possibilities: improved ass...
By John Parkinson • Dec. 2, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Thanksgiving Shopping Data Reflects Stronger Economy
Although the number of people who went shopping over the Thanksgiving weekend dropped 5.2% from last year, the decline actually reflects a strengthening economy, the National Retail Federation reports.In its Thanksgiving Weekend Spending Survey, the federation said overall shopper traffic fell to...
By Matthew Heller • Dec. 1, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Happy Holidays?
November marks the traditional start of the all-important holiday shopping season, when the retail industry racks up nearly 20% of its annual sales. Are Americans in the buying mood this year? Find out by taking our quiz, which is drawn from Accenture’s 2014 U.S. Holiday Shopping Survey, conducte...
By CFO Editorial Staff • Nov. 26, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Business Travel Prices to Rise Modestly in 2015
Air, hotel and ground transportation prices for business travel will be neutral to slightly higher across all regions in 2015 amid modest global economic growth, a new survey predicts.The American Express Global Business Travel Forecast 2015 forecasts price hikes ranging from up to 6% for short-h...
By Matthew Heller • Nov. 26, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
GOP Leaders Urge SEC to Ditch Pay-Ratio Rule
Three top Republican lawmakers have made a last-ditch attempt to get the U.S. Securities and Exchange Commission to scrap a new rule that would require public companies to disclose the ratio of CEO compensation to the median compensation of their employees.The commission voted in September 2013 t...
By Matthew Heller • Nov. 25, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
SEC Encouraging Firms to ‘Tell Their Story’ in MD&A
The management discussion and analysis sections of regulatory filings continue to be the leading source of comments from U.S. Securities and Exchange Commission staff, according to a new report by Deloitte.Under the Sarbanes-Oxley Act, the SEC’s Division of Corporate Finance is required to review...
By Matthew Heller • Nov. 25, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
FASB Clarifies Guidance for Using Pushdown Accounting
The Financial Accounting Standards Board has published a new rule that seeks to clarify whether and at what threshold an acquired business or nonprofit organization can apply the pushdown accounting method.When a company is acquired, pushdown accounting allows the acquired entity to use the acqui...
By Matthew Heller • Nov. 19, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
FBI: CFO Spent Stolen Funds on Women He Met Online
Former Alotech Ltd. CFO John H.C. Black has been charged with stealing $1.2 million from the manufacturer of cast parts, much of which he allegedly spent on buying gifts for women he met on a “sugar daddy” dating website.The FBI and the U.S. Attorney for the Northern District of Ohio said Monday ...
By Matthew Heller • Nov. 18, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
FASB Weighs Delaying New Revenue Rule
Companies may get additional time to prepare for implementation of the new accounting standard on recognizing revenue from contracts with customers.The Financial Accounting Standards Board and the International Accounting Standards Board had set a Jan. 1, 2017, implementation date for companies f...
By Matthew Heller • Nov. 18, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Mobile Payment Spending to Reach $142B by 2019
Mobile payments in the U.S. will almost triple to $142 billion in five years, with Apple’s new mobile wallet fueling growth in the segment of in-person payments, according to a report from the research firm Forrester.The report acknowledges that mobile payment spending in 2019 will still only be ...
By Matthew Heller • Nov. 18, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Companies Boning Up on Revenue Recognition Rules
Most companies are familiar with the new accounting standard on recognizing revenue from contracts with customers but many have yet to assess its full impact, according to a report released Monday.The standard issued in May by the Financial Accounting Standards Board and the International Account...
By Matthew Heller • Nov. 17, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
IT Operational Spending to Grow Modestly
IT operational spending in the U.S. and Canada will increase 3% at the median next year amid “improving and sustainable — if not stellar” economic growth, but capital budgets will remain flat, according to a survey by Computer Economics.The IT research firm said in its IT Spending and Staff Outlo...
By Matthew Heller • Nov. 17, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
From Venture Capitalist to Finance Chief
On her third day on the job at Nextility, a five-year-old energy-technology firm, Joyce Ferris attended a board meeting where she resigned after three years as a director and officially became the company’s CFO — and got a gentle hazing.Joyce Ferris, CFO, Nextility Ferris “was in the hot seat” wi...
By David Katz • Nov. 14, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
CFOs on the Move: Week Ending Nov. 14
Dietary-supplement manufacturer Pharmavite has named Nitin Deshpande to the top finance spot. He joins the firm from Elizabeth Arden, where he was senior vice president of finance.Eric Hession has been promoted to finance chief at Caesars Entertainment, effective Jan. 1. He takes over from Donald...
By Joan Urdang • Nov. 14, 2014 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Calderoni Stepping Down as Cisco CFO
Frank Calderoni is stepping down as CFO of Cisco Systems on Jan. 1 after six years on the job.Frank Calderoni The networking giant announced Calderoni’s resignation as it warned that sluggish demand from emerging markets and telecom service providers would crimp its sales and profit outlook for t...
By Matthew Heller • Nov. 14, 2014
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