Corporate Finance: Page 51

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    CFOs On the Move: Week Ending November 15

    Natalie Brown Natalie Brown was named chief financial officer at Mesirow Financial. Brown joins the company from Nuveen Investments where she spent almost 20 years, most recently as managing director, head of Nuveen Advisory Services Finance. Previously, she worked at Kraft Foods and KPMG in acco...

    By • Nov. 15, 2019
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    Berkshire Hathaway Buys New Stake in Restoration Hardware

    Berkshire Hathaway, the conglomerate led by Warren Buffet, owned 1.2 million shares in the furniture retailer RH, formerly known as Restoration Hardware, at the end of the third quarter.RH shares increased more than 5% on Friday. The company’s shares are up more than more than 40% already this ye...

    By • Nov. 15, 2019
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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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    Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
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    Gannett, New Media Shareholders Approve Merger

    Shareholders of New Media Investment Group, the parent of GateHouse Media, and Gannett voted to approve their proposed merger, the companies said after special shareholder meetings on Thursday. The combination of GateHouse Media and Gannett will create the largest media company in the United Stat...

    By • Nov. 14, 2019
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    How to Mitigate the Risk of Employee Fraud

    With losses due to fraud increasing, companies should begin to consider ways to protect against misappropriation of assets. According to a 2018 report from the Association of Certified Fraud Examiners, the typical organization loses 5% of its annual revenue to fraud. Further,  23% of cases involv...

    By • Nov. 13, 2019
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    Tesla Taps Berlin for Second Overseas Factory

    Tesla chief executive officer Elon Musk said the company would begin building cars in Berlin, including batteries, powertrains, and vehicles. The Berlin factory would be the company’s second factory outside the United States.In late October, Musk said Tesla was ahead of schedule on trial producti...

    By • Nov. 13, 2019
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    Got Milk? Not Enough as Dean Foods Files Chapter 11

    Dean Foods, America’s largest milk producer, has filed for bankruptcy protection, citing the drop in dairy sales as consumers switch to milk alternatives.The Wall Street Journal called Dean’s Chapter 11 filing “a fresh setback to a U.S. dairy industry struggling against declining U.S. milk consum...

    By Matthew Heller • Nov. 13, 2019
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    Juul to Cut 650 Jobs, Slash $1B in Costs

    E-cigarette maker Juul said it would cut 650 jobs and reduce spending by $1 billion next year as the company responds to scrutiny of the vaping industry amid a flurry of illnesses.In October, Juul said it was cutting around 500 jobs. The 650 cuts would represent about 16% of Juul’s total workforc...

    By • Nov. 12, 2019
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    Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
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    Execs Could Boost Profits by Owning Health Care

    Earlier this year, Dr. Eric Bricker, chief medical officer at AHealthcareZ, posted a video proposing that the hundreds of billions of dollars U.S. businesses spend on health care is emblematic of a curious fact: that they have enough cash not to fix the cost problem.The argument: If all S&P 5...

    By • Nov. 11, 2019
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    OpenText to Buy Carbonite for $1.42B

    Enterprise information company OpenText has agreed to buy Carbonite for $1.42 billion, or $23 per share, inclusive of Carbonite’s cash and debt, the companies said.The agreed price represents a 78% premium to Carbonite’s closing price on September 5, before media reports speculated on a possible ...

    By • Nov. 11, 2019
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    CFOs On the Move: Week Ending November 8

    Scott Javor Scott Javor will take over as chief financial officer at music streaming service provider Rhapsody International, the parent company of Napster. Javor has extensive experience advising companies on financial planning and operations, corporate development, and strategic growth. Most re...

    By • Nov. 8, 2019
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    Study: Companies Run by Billionaires Outperform

    Companies that are controlled by billionaires have significantly outperformed global market averages over the last fifteen years, according to a report from UBS and PwC.The report, which looked at 603 public companies controlled by billionaires, said the companies’ annualized gain was 17.8% over ...

    By • Nov. 8, 2019
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    New York Tech Company Charged with Selling Chinese Equipment to U.S. Military

    Seven current and former executives and employees of Aventura Technologies were arrested early Thursday after agents from the Federal Bureau of Investigation, U.S. Customs and Border Protection, the Internal Revenue Service, and other agencies raided the headquarters of the company on Long Island...

    By • Nov. 7, 2019
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    McDermott CFO Resigns After $1.9 Billion Loss

    A day after reporting a $1.9 billion quarterly loss, oilfield services company McDermott International announced Tuesday that CFO Stuart Spence had resigned from his post.Spence, an energy industry veteran, left McDermott to “pursue other opportunities,” the company said in a news release. He was...

    By Matthew Heller • Nov. 6, 2019
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    Papa John’s CFO to Depart Amid Executive Shakeup

    The chief financial officer of Papa John’s International, Joe Smith, is leaving the company as part of a shakeup in the top ranks under new chief executive officer Rob Lynch.Smith will leave the company next year after nearly 20 years at the company. He was promoted to CFO from senior vice presid...

    By • Nov. 6, 2019
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    Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
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    OPEC Cuts Demand Forecasts

    OPEC cut its outlook for global oil demand for the medium-term and long-term citing a “challenging” 12 months for energy markets. The group said it forecast global oil demand of 104.8 million barrels per day by 2024 and 110.6 million barrels per day by 2040.“Signs of stress have appeared in the g...

    By • Nov. 5, 2019
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    U.S. Economic Indicators for Next 12 Months Point Down

    The outlook for the U.S. economy has significantly deteriorated since July, judging by the results of the latest quarterly business conditions survey from the National Association of Business Economics.In the poll of 101 NABE member business economists, 69% of the panelists said they expected rea...

    By • Nov. 5, 2019
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    Companies Move to Limit Employees’ Health Costs

    Health care costs will top $13,000 per employee this year, according to Mercer’s annual National Survey of Employer-Sponsored Health Plans.The average total health benefit cost per employee grew 3.0% to reach $13,046, following a rise of 3.6% in 2018. This is the eighth consecutive year of health...

    By • Nov. 4, 2019
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    Google to Buy Fitbit for $2.1B

    Google parent company Alphabet reached a deal to buy wearable fitness device-maker Fitbit for $7.35 per share, or about $2.1 billion in cash, the companies said.Fitbit shares jumped 16% on the news. Shares of Alphabet were up 0.8%. Reuters reported Alphabet had made an offer for Fitbit Monday.Fit...

    By • Nov. 1, 2019
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    Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
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    Why an Investor Soured on Softbank

    “If you meet the Buddha on the road, kill him.”This old Buddhist saying suggests that we need to be able to destroy our most cherished beliefs. We can grow only if we are able to reassess our belief system. To do this we need to detach ourselves from our beliefs and examine them, and if we are wr...

    By • Nov. 1, 2019
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    Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
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    CFOs On the Move: Week Ending November 1

    Stephen Ma Stephen Ma will become finance chief of Nissan on December 1. Ma has been with the car manufacturer since 1996 and is currently corporate vice president, global controller, accounting. Ma was CFO of DongFeng Motor, the Chinese business of Nissan, from 2012 to 2018. He will replace Hiro...

    By • Nov. 1, 2019
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    Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
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    The Two Faces of Private Equity

    The story of private equity is really two stories. One is about PE firms investing in and enhancing the value of their portfolio companies. The other is about slashing expenses to the bone in the quest for a bottom line that may appeal to certain gullible potential acquirers.Both are abundantly t...

    By • Oct. 31, 2019
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    Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
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    EA’s Strong Quarter Overshadowed By ‘Battlefield’ Pushout

    Electronic Arts turned in an unexpectedly strong second quarter with revenue and earnings beating expectations. But analysts’ enthusiasm was limited by the company’s unexpected decision to push the next title in its “Battlefield” franchise out a year to 2022, leaving questions about growth in 202...

    By • Oct. 30, 2019
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    Why Procurement Savings Get Lost in Translation

    It’s a frustrating scenario at many companies: The procurement chief announces major savings from a new initiative, but the gains never make it to the bottom line.The problem is pretty obvious: two accounting systems that don’t mesh.David Schannon Procurement departments calculate savings based o...

    By • Oct. 30, 2019
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    Murray Energy Files for Chapter 11

    Robert Murray, Founder and CEO, Murray Energy Murray Energy, which was the largest privately held coal company in the United States, has filed for Chapter 11 bankruptcy protection in the Southern District of Ohio.The company said it has entered into a restructuring agreement with an ad hoc lender...

    By • Oct. 29, 2019
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    Want to Go “Lean”? First, Understand What It Means

    Lean systems are widely misunderstood. Although the term was introduced many years ago to describe an operations philosophy, it has since been summarized, misused, and generalized. It’s become a ubiquitous buzzword — one that Fortune 100 companies and small independent entrepreneurs alike gravita...

    By • Oct. 29, 2019