Corporate Finance: Page 45

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    Modell’s Joins Sporting Goods Bankruptcy Parade

    Modell’s Sporting Goods has filed Chapter 11 bankruptcy to facilitate the liquidation of its stores after reaching an impasse with a potential buyer.The 131-year-old company cited the “extremely challenging” retail environment as it joined a parade of sporting goods retailers that have gone bankr...

    By Matthew Heller • March 12, 2020
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    Credit Quality: Downgrades Pick Up Pace

    As the coronavirus spreads across the globe, real economic effects are starting to emerge, and not just in the travel industry. For example, on Wednesday, IDC said its forecast for information technology spending this year would most likely be adjusted downward, to as low as 1% (versus the origin...

    By • March 11, 2020
  • Businessperson talking to a group of people in a meeting a the office Explore the Trendline➔
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    Trendline

    Top 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
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    Fidelity Names New CFO

    Fidelity Investments named Maggie Serravalli as chief financial officer. Serravalli, who is 56 years old, was most recently executive vice president at the company’s healthcare group.Maggie Serravalli Serravalli will oversee finance in addition to tax, treasury, human resources, real estate, gove...

    By • March 11, 2020
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    PepsiCo to Buy Rockstar Energy in $3.85B Deal

    PepsiCo has reached a deal to buy Rockstar Energy Beverages for $3.85 billion, the companies announced.PepsiCo has distributed Rockstar drinks in North America since 2009, but PepsiCo chief financial officer Hugh Johnston said that the company’s distribution contract with Rockstar restricted it f...

    By • March 11, 2020
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    Four Pillars of Successful Corporate Decision-Making

    Making smart decisions is central to the success of any organization. It is the compass through which corporate leaders can guide their business in pursuit of growth and is a key marker of what sets apart good leadership.But decision-making has always been an inherently imperfect art. There’s no ...

    By David Mellor • March 11, 2020
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    CFPB Alleges Fifth Third Bank Opened Fake Accounts

    The Consumer Financial Protection Bureau (CFPB) has filed a complaint against Fifth Third Bank, alleging the company opened bank accounts and credit card accounts for customers and charged fees without consent.In a complaint filed in the U.S. District Court for the Northern District of Illinois, ...

    By • March 10, 2020
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    Aon to Buy Willis Towers Watson

    Aon has reached an agreement to buy Willis Towers Watson for about $30 billion in an all-stock deal, the companies announced.Under the terms of the deal, Willis Towers Watson shareholders would receive 1.08 Aon shares for each Willis Towers Watson share, representing a 16.2% premium to Willis Tow...

    By • March 9, 2020
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    Pension Plan Sponsors Slashed Contributions in 2019

    Large corporate pension plan sponsors in 2019 contributed the fewest dollars to their plans since recession-plagued 2008, according to an analysis by Russell Investments.Russell began in 2005 to track a group of 20 publicly listed U.S. companies with defined benefit (DB) pension plan liabilities ...

    By • March 9, 2020
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    Albertsons Files for IPO, Shows Sales Growth

    Albertsons has filed for an initial public offering as it seeks to finance growth in the highly competitive grocery store market.The second-largest U.S. supermarket operator has been owned for the past 14 years by a group of investors led by private equity firm Cerberus Capital Management. Accord...

    By Matthew Heller • March 9, 2020
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    Popular ‘Detox Tea’ Marketer Hit Over Disclosures

    The Federal Trade Commission has agreed to settle charges with the marketers of a line of tea and skin-care products who made unsubstantiated claims that their products would help consumers lose weight and fight cancer. The FTC also said Teami also did not adequately disclose payments to social m...

    By • March 6, 2020
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    Fractional CFOs Provide Value to SMBs

    Compared with their larger rivals, small and medium-size businesses (SMBs) have a whole host of advantages. They are nimbler, can quickly launch experiments, and can more easily build strong corporate cultures. But for all the advantages that SMBs have, they also have to cope with some weaknesses...

    By • March 6, 2020
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    How to Prepare for a Remote Digital Workplace

    Faced with the potential threat of Coronavirus, household names like Amazon, Goldman Sachs, IBM, and Microsoft are among a majority of North American companies that have instituted travel restrictions or work-from-home policies. But while the concept of working from home may sound simple, the pre...

    By • March 6, 2020
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    CFOs On the Move: Week Ending March 6

    Kimberly Ross Kimberly Ross is joining office-sharing startup WeWork as finance chief. Ross, most recently chief financial officer of Baker Hughes, will start on March 16. She previously held CFO roles at Avon Products and Koninklijke Ahold, which is now Ahold Delhaize. Ross currently sits on the...

    By • March 6, 2020
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    Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
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    House Report Says Wells Fargo Continues to ‘Abuse’ Customers

    Wells Fargo isn’t complying with the various financial settlements it agreed to over the last few years in the fake accounts scandal, the United States House Committee on Financial Services said in a report on Wednesday.The report, released a week ahead of Wells Fargo CEO Charles Scharf’s testimo...

    By • March 5, 2020
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    Thermo Fisher to Buy Qiagen in $11.5B Deal

    U.S. laboratory equipment maker Thermo Fisher Scientific has reached an agreement to buy genetic testing supply company Qiagen in an $11.5 billion deal.At 39 euros per share (about $43.42), the cash offer represents a premium of approximately 23% to the closing price of Qiagen on March 2, the com...

    By • March 4, 2020
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    Making the CFO the Chief Profitability Officer

    The following is a transcript from “Profit Levers,” a podcast on managing profitable growth presented by Jonathan Byrnes, a professsor at MIT and the founding partner of Profit Isle. You can also listen to the podcast through the player below.“Who’s Managing Profitability?”This was the title of m...

    By • March 4, 2020
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    Robinhood Outage Extends Into Second Day

    The free stock-trading app Robinhood was down on Monday as a “system-wide outage” locked users out of their accounts during a historic market rally. On Tuesday, technical issues continued.The company said the problem began around 9:30 a.m. Eastern on March 2 and was resolved around 2:00 a.m. on M...

    By • March 3, 2020
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    CFOs Should Not Leave Workforce Analytics Solely to HR

    With access to reams of financial data and the analytic tools to turn the information into insight, CFOs are certainly no strangers to the power of big data.But finance chiefs may be less up to speed on workforce data, covering employee performance, compensation, demographics, career history, ben...

    By • March 2, 2020
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    Coronavirus in the Supply Chain

    To anyone who doubts that the United States is entrenched in the global interdependence of trade, it is with great regret and apprehension that I introduce you to the coronavirus.  The human cost, to date, of COVID-19 has been sizable. In my opinion, that should be the primary concern. As much as...

    By Chuck Franzetta • March 2, 2020
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    Gilead to Buy Forty Seven for $4.9B

    Gilead Sciences has agreed to buy drugmaker Forty Seven for $4.9 billion in cash, the companies announced Monday.Gilead will pay $95.50 per share, which represents a premium of 64.7% to the stock’s Friday closing price of $58. Forty Seven shares were up another 1.4% Monday morning ahead of the ma...

    By • March 2, 2020
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    Delta CFO to Depart

    Paul Jacobson The chief financial officer of Delta Airlines, Paul Jacobson, is retiring after more than two decades with the airline.Jacobson joined the company in 1997 as a financial analyst and was named CFO in 2012. He is expected to leave later this year. Jacobson will remain with the company...

    By • Feb. 28, 2020
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    CFOs On the Move: Week Ending February 28

    Rick Paschal TaylorMade Golf Company appointed Rick Paschal as finance chief. Before joining TaylorMade, Paschal spent three years as CFO for sports equipment company Varsity Brands. Prior to that, Paschal served more than seven years at fashion company Coach in several executive financial and op...

    By • Feb. 28, 2020
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    Steven Seagal Fined for Touting Cryptocurrency

    Faded Hollywood action star Steven Seagal has agreed to pay $314,000 to settle charges from the Securities and Exchange Commission that he violated anti-touting provisions of federal securities laws.The SEC said Seagal, whose films included “Above the Law”and “Out for Justice,” did not disclose p...

    By • Feb. 27, 2020
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    FanDuel Employees, Founders Sue Over Getting Nothing in Merger

    Former employees and founders of online sports betting company FanDuel are suing Shamrock Capital Advisors and KKR & Co. alleging they colluded to undervalue the company’s shares before a merger with Paddy Power Betfair in 2018.The plaintiffs include more than 100 former employees, cofounder ...

    By • Feb. 26, 2020
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    U.K. Regulator Leaked Personal Data

    The U.K. Financial Conduct Authority (FCA) said it released the personal information of about 1,600 people who had made a complaint about the regulator.The FCA said it mistakenly published the personal data, including names, addresses, and phone numbers, in a document on its website in response t...

    By • Feb. 25, 2020