Corporate Finance: Page 48

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    How to Prevent RPA from Messing With Internal Controls

    One of the key benefits of implementing robotic process automation (RPA) is the ability to quickly launch automated processes in limited scope while standardizing the processes as you go. But rapid deployment also presents several potential risks for Sarbanes-Oxley project management teams to ass...

    By • March 23, 2020
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    Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
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    WeWork Investors Will Take ‘Necessary Actions’ If SoftBank Bails on Bailout

    The special committee of the WeWork board of directors on Sunday said that it is “committed to take all necessary actions” if SoftBank doesn’t live up its end of the bargain in the bailout deal signed October of last year.“Not only is SoftBank obligated to consummate the tender offer as detailed ...

    By • March 23, 2020
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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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    CFOs On the Move: Week Ending March 20

    Adrianne Lee Adrianne Lee will become finance chief at Overstock on March 31. Lee joins Overstock from Hertz where she was CFO of the company’s $7 billion North American Rental Car unit. Before joining Hertz, Lee led financial planning and analysis for Best Buy’s multi-billion-dollar e-commerce b...

    By • March 20, 2020
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    Senate Floats Airline Stimulus Amid Criticism

    Senate Republicans announced a stimulus bill that would guarantee $150 billion in loans to companies struggling amid the coronavirus pandemic, including $58 billion in loans and grants to the U.S. aviation industry.Lobbyists for international airlines have said $200 billion in government support ...

    By • March 20, 2020
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    Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
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    Could Warren Buffett Bailout The Airlines?

    Warren Buffett has stepped into faltering economies to help prop up teetering companies in the past and made out pretty good by buying low in times of distress. Might the Oracle of Omaha have some interest in some suddenly very turbulent airline stocks?Buffett, whose Berkshire Hathaway is one of ...

    By • March 19, 2020
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    More Banks See Recession as Pandemic Unfolds

    Morgan Stanley and Goldman Sachs are now both forecasting a recession in 2020 driven by the coronavirus pandemic.The downturn is expected to be less severe than the 2008 financial crisis but sharper than the 2001 recession, analysts and economists at the banks said.“While the policy response will...

    By • March 19, 2020
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    5 Ways to Address Enterprise Risk Management as a Team

    C-level executives, with support from the board of directors, are responsible for establishing and promoting a healthy risk and compliance mindset among employees. But they may not grasp the full benefits of enterprise risk management (ERM) because of the siloed nature of risk management efforts ...

    By Daniel Kim • March 19, 2020
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    Insurer Fields Communicable Disease Claims

    Large commercial property insurer FM Global added communicable disease coverage as a standard element of its core product back in 2016, in a response to requests from some clients. But the coverage didn’t really strike a chord with the overall customer base, and there have been few claims.Until n...

    By • March 18, 2020
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    Oil Prices Fall to Lowest Levels in 18 Years

    Crude oil prices dropped as much as 9% on Wednesday to $24.42 a barrel, the lowest levels since June 2002, as the ongoing coronavirus pandemic hampers demand.The price of light crude oil is down 60% so far this year.At the same time, Russia and Saudi Arabia are failing to limit supply. Russia is ...

    By • March 18, 2020
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    Good Controller/Bad Controller

    Back in 2012, Ben Horowitz published an article titled “Good Product Manager/ Bad Product Manager.” We borrowed from his format as we assessed a key role in a fast-growing company’s finance organization: the controller. (See our previous column, Good CFO/Bad CFO.) Special thanks to Aman Kothari, ...

    By Adam Spiegel and Jeff Epstein • March 18, 2020
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    Apple Hit With Antitrust Violations in France

    The French Competition Authority announced it is imposing a fine of €1.1 billion ($1.2 billion) against Apple, alleging the tech giant was guilty of creating cartels and placed restrictions in contracts with wholesalers designed to limit competition and influence retail prices.“Apple and its two ...

    By • March 16, 2020
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    IEA Sees Drop in Oil Demand

    The International Energy Agency said it expects global oil demand to fall for the first time since 2009, citing the impacts of the coronavirus on the economy.The agency said demand fell worldwide by approximately 2.5% in the first quarter of 2020 and it was expected to shrink by 90,000 barrels pe...

    By • March 13, 2020
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    CFOs On the Move: Week Ending March 13

    Carol Tomé Former Home Depot CFO Carol Tomé will become chief executive officer at UPS on June 1. Tomé, who spent 18 years as the home improvement company’s CFO, is the first outside CEO hire in UPS’ 112-year history. The delivery giant’s 11 previous CEOs rose through the company ranks. Tomé star...

    By • March 13, 2020
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    Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
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    10 Key Principles for Effective Capital Deployment: Part 2

    On Thursday we published Part 1 of this two-article series, presenting five principles for effectively deploying capital. Read Part 1 here. This article contains five more such principles.First, here is a review of the first five principles from yesterday’s article:The Top Priority Is SurvivalBuy...

    By Gregory V. Milano • March 13, 2020
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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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    10 Key Principles for Effective Capital Deployment: Part 1

    This is the first of two articles addressing capital deployment.Capital deployment decisions are among the most important strategic choices facing managements and boards. However, it can be difficult to choose between investing organically or acquisitively in the business versus paying down debt,...

    By Gregory V. Milano • March 12, 2020
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    Good CFO/Bad CFO

    What distinguishes a successful finance executive from an unsuccessful one?

    By Rob Krolik and Jeff Epstein • March 12, 2020
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    U.K. Cuts Interest Rates in Response to Coronavirus

    The Bank of England cut its main interest rate by half a percentage point to 0.25% on Wednesday, its lowest level on record, as part of the government’s response to the economic fallout of the coronavirus.“Although the magnitude of the economic shock from Covid-19 is highly uncertain, activity is...

    By • 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
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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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    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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    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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    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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    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