Human Capital: Page

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    The Loan Danger

    See this year’s 401(k) Special Report.The credit crunch has come home to roost in many unlikely places, from the student-loan market to the municipal-bond arena. Here’s another improbable victim: your human resources department. The subprime crisis and its many ripple effects are prompting more f...

    By Randy Myers • April 1, 2008
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    Setting Bonus Targets with Hindsight

    Want to create a culture that breeds higher achievers? According to Procter & Gamble CFO Clayton Daley, you might want to forget about setting performance targets for bonuses and, instead, decide what’s fair to pay after all the results are in.The company has been using an unusual, retrospect...

    By Kate Plourd • March 31, 2008
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    Overtime Pay for PwC Audit Associates?

    A class-action lawsuit charging that PricewaterhouseCoopers misclassifies auditors without CPA licenses as exempt employees who are ineligible for overtime pay can proceed, a federal court in California has ruled.The lead plaintiffs, two former PwC employees, contend that the firm should pay over...

    By • March 28, 2008
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    Vise on Worker Visas Squeezes Tighter

    American companies looking to hire nonimmigrant workers from overseas to work in specialty fields, including accounting, will have a slimmer chance of obtaining visas because of a change in the H-1B application process that takes effect April 1.Under the policy change, visas will be granted to a ...

    By Kate Plourd • March 28, 2008
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    CFOs on the Move: Week Ending March 28

    • Electronic Arts’ CFO Warren Jenson has announced he will resign from the video game publisher as it continues its hostile takeover bid for competitor Take Two Interactive Software, which makes the popular Grand Theft Auto series. Jenson, who has been with the company since 2002, said his resig...

    By Laura Cameron and Kate Plourd • March 27, 2008
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    The “Bright Star” of B-School Research: Finance

    Our Tuesday article, “Business School for Dummies?” looked at the drive at accrediting group ACCSB to move research in the direction of providing more useful lessons for the business world.Even as business schools draw fire for producing too little research of real relevance to Corporate America...

    By Roy Harris • March 27, 2008
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    Changing of the Guard at Tribune

    Tribune Co. has promoted Chandler Bigelow to CFO, effective immediately, succeeding Don Grenesko, who is retiring after 17 years in the position and 28 with the company.The change takes place while Sam Zell, who bought Tribune last year, is trying to sell the Chicago Cubs and Wrigley Field, as w...

    By Stephen Taub • March 26, 2008
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    Business School for Dummies?

    Should the research being done by America’s business schools have to offer relevant lessons for business?A task force of AACSB International, the school-accrediting organization that also goes by the moniker Association to Advance Collegiate Schools of Business, admits that it is going very slowl...

    By Roy Harris • March 25, 2008
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    The Road Less Traveled: IRO to CFO

    Like most career-minded finance executives, Spectra Energy’s Greg Ebel was always aiming for the CFO seat — even when, back in 2002, he accepted a role that seemingly directed him away from his envisioned career path.At that time, Ebel was managing director of mergers and acquisitions at Duke Ene...

    By Kate Plourd • March 24, 2008
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    The Long Arm of the Big Four

    Accounting professors might be expected to disagree with the general premise of an article CFO.com published on Wednesday; namely, that colleges prepare students more to work at public accounting firms than in corporate finance and accounting departments. But actually they agree, at least in part...

    By • March 21, 2008
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    B of A CFO’s Comp Fell Short of Target

    The chief financial officer of Bank of America made more than $5.63 million last year. But he’s not likely all that happy about it.According to the financial giant’s latest proxy, Joe L. Price received an $800,000 salary and $1.6 million in cash incentive and $1.6 million in restricted stock, for...

    By Roy Harris and Stephen Taub • March 20, 2008
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    CFOs on the Move: Week Ending March 21

    • Former Bank of America CFO Alvaro de Molina has been promoted from chief operating officer to CEO of GMAC Financial Services. The company’s current CEO will move to a position at Cerberus Capital Management, the private equity firm that holds a 51 percent state in GMAC. De Molina was with B of...

    By Kate Plourd • March 20, 2008
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    Report: Economy Roils Executive-Pay Moves

    The slowing of the U.S. economy is shaping changes in executive compensation for this year’s proxy season, according to a new report from Mercer, the human resources and compensation consulting firm. For one thing, shareholders, who are experiencing deteriorating returns, are becoming more activ...

    By • March 19, 2008
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    The Rap on Accounting Education

    CFOs are already on record with their views on the personal traits of young people entering the accounting workforce today: too often lacking in drive and determination, gripped by a hunger for constant praise, and disturbingly prone to job-hopping at the first wisp of unhappiness.But some senior...

    By • March 19, 2008
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    The Pendulum Swings

    In 2005, while running a financial-software company, Charles Morris became convinced that credit markets were heading for a crash. He found a publisher who was willing to take a gamble and began tracing the roots of the yet-to-unfold crisis. However up to date it may seem, this book is no rush jo...

    By Economist Staff • March 18, 2008
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    CFO Promoted to Help Rescue SocGen

    Societe Generale, which was rocked in January by a $7 billion trading scandal, promoted CFO Frederic Oudea to deputy chief executive, alongside existing deputy chiefs Philippe Citerne and Didier Alix. Oudea, who had been CFO since January 2003, will help implement the bank’s strategic plan for 2...

    By Stephen Taub • March 17, 2008
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    Accounting May Stall GM, Ford VEBAs

    When U.S. District Judge Robert Cleland earlier this month gave preliminary approval to a plan by General Motors Corp. to set up a voluntary employees beneficiary association, known as a VEBA trust, to fund retiree health care, he told lawyers for GM and the UAW: “It is an extraordinary feat, it ...

    By Stephen Taub • March 17, 2008
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    National Century CFO, Four Others Guilty of Fraud

    A federal jury has found two top finance executives and three others guilty on all counts of conspiracy, fraud, and money laundering at National Century Financial Enterprises.The verdicts ended a six-week trial after less than two days of deliberation. A 27-count indictment had laid out the defen...

    By Stephen Taub • March 14, 2008
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    Finance Execs Get Top Board Pay

    Corporate boards value finance experts over all other members, judging by a new survey from the National Association of Corporate Directors.Audit-committee members and chairs are paid more than their fellow board members, according to the NACD’s latest annual Director Compensation Survey. Among t...

    By Stephen Taub • March 14, 2008
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    The Seven-Month Itch

    WellPoint Inc. said Jamie Miller has resigned as chief accounting officer and controller of the health insurance giant, effective April 4, in order to take the same positions at an even bigger company: General Electric. GE, however, had not announced the appointment by press time. Miller had bee...

    By Stephen Taub • March 13, 2008
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    CFOs on the Move: Week Ending March 14

    • Former BMW CFO Stefan Krause has been named to succeed Anthony di Iorio, who is retiring as chief financial officer of Deutsche Bank. Krause, who will start October 1, also was appointed to the bank’s management board, effective April 1. He served as CFO at BMW from 2002 to September 2007. •...

    By Kate Plourd and Laura Cameron • March 13, 2008
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    CFO Drives to Deutsche Bank

    Stefan Krause has been named to succeed the retiring Anthony di Iorio as chief financial officer of Deutsche Bank, effective October 1. He also was appointed to the bank’s management board, effective April 1. Krause will move over from BMW, where he was CFO from May 2002 until September 2007, af...

    By Stephen Taub • March 13, 2008
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    What CFO Made $5B Less than His Boss?

    Blackstone Group CFO Michael A. Puglisi made nearly $160 million last year, likely making him one of the highest paid finance executives at a publicly-traded company.After deducting stock awards that haven’t yet vested, his total gains worked out to $57 million. However, like all of the other nam...

    By Stephen Taub • March 12, 2008
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    Culture Club

    Over the past 20 years, Fons Trompenaars has sent out some 100,000 questionnaires to corporate professionals around the world.The resulting data—which looks at work habits, attitudes and other cultural issues—forms the basis of his work at consultancy Trompenaars Hampden-Turner. While he spends t...

    By Jason Karaian • March 10, 2008
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    Survey: Finance Women See No Progress in Pay Parity

    Almost 100 percent of the respondents to a survey of women in finance believe that women are being paid less than men for comparable work.The figure, 96 percent of the 259 members of the Financial Women’s Association who took part in the survey, is identical to that reported by the FWA in 1998. T...

    By David Katz • March 7, 2008