Human Capital: Page 100

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    CSI Pennsylvania

    Some Villanova University undergraduate students are learning first-hand how accounting skills can help take a bite out of crime.Every six months, Pennsylvania’s Delaware County District Attorney’s office accepts an accounting student from the university’s business school into its cooperative wor...

    By Kate Plourd • March 1, 2008
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    Closing Remarks

    At the end of the day, a CFO is only as good as the people around him. Those are the words of wisdom Dennis Powell, the retiring CFO of Cisco Systems Inc., has to offer — not just to his successor, Frank Calderoni, but to finance chiefs everywhere.The best finance teams should “think strategicall...

    By Kate Plourd • March 1, 2008
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    Charles Schwab’s Joseph Martinetto

    Forgive Joe Martinetto if he sleeps soundly these days. Despite volatility in the markets and chaos in the financial-services sector, The Charles Schwab Corp. has remained fairly insulated from the turmoil. A conservative risk profile saved the company exposure to subprime-mortgage risk in its co...

    By Lori Calabro • March 1, 2008
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    How Not to Control Workers’ Comp Costs

    Two years ago, the Department of Labor amassed $13.3 million worth of inaccurate payments for federal employees in workers’ compensation — and since then, it has done little to stop such discrepancies from happening again, according to the Government Accountability Office.In a recent report, the ...

    By Sarah Johnson • Feb. 29, 2008
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    Why Is CFO Turnover So High?

    For large-company finance chiefs considering job switches, the good news is that a lot of CFO positions are opening up. The bad news is that those who land one of them might not have it for long.In 2007 almost a quarter of the CFO posts at Fortune 1,000 companies — 234 of them, to be precise — we...

    By • Feb. 29, 2008
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    Survey: Tech CFOs Favor Shareholder Say on Pay

    CFOs, the ultimate team players, might not always agree with company policies they’re responsible for executing. Here, maybe, is a case in point: fewer than a third (31 percent) of 100 leading U.S. technology companies allow shareholders to vote on their executive-compensation plans, their CFOs s...

    By • Feb. 29, 2008
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    Everything Must Go

    For a company that runs casinos, bingo halls and online gaming sites, the UK’s Rank Group doesn’t like taking gambles. According to finance director Peter Gill, the company’s decision this week to offload its £700m (€917m) pension scheme—the largest ever “pension buyout” in the UK—gives members o...

    By Tim Burke • Feb. 29, 2008
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    Look Homeward, CFOs

    Since the ’90s, the trend for many Asian workers was to move out of their homemarket and grow their careers through international experience.Many countries have felt the sting of this brain drain. Some even sent millionsof people overseas to study and train in an attempt to feed their growingecon...

    By Mike Chambers • Feb. 29, 2008
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    Investors, Directors Face Off over Exec Pay

    The majority of both company directors and institutional investors believe Corporate America’s image has been shattered by the way companies pay their executives. But that’s about all they agree on. Their views on the topic differ markedly when it comes to changing the system, according to a new ...

    By Sarah Johnson • Feb. 28, 2008
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    CFOs on the Move: Week Ending February 29

    • Office Depot announced CFO Patricia McKay is resigning from the office supplier Tuesday, just before the company filed its annual report, which revealed a formal investigation by the Securities and Exchange Commission. Charles Brown, McKay’s predecessor and president of Office Depot’s internat...

    By Kate Plourd and Laura Cameron • Feb. 28, 2008
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    Jim Marsh, CEO, Cable & Wireless

    There’s a long list of troubled companies, ranging from bankrupt airlines tosluggish car companies, that have asked former CFOs tolead them out of financial dead ends. One of them is Cable & Wireless— the UK-based telecommunications company with extensive Asian operations— which two years ago...

    By Don Durfee • Feb. 27, 2008
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    Unhappy Trifecta for Office Depot

    In separate communications on Tuesday, Office Depot first announced that CFO Patricia McKay will leave the company on March 1, and then filed its 2007 annual report in which it revealed that the Securities and Exchange Commission is conducting a formal securities-fraud investigation of the compa...

    By Alan Rappeport • Feb. 26, 2008
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    NYC Pensions to Companies: Reveal Political Payouts

    Acting on behalf of New York City’s Pension Funds, William C. Thompson, Jr., the city’s comptroller, is asking ten of America’s biggest companies to disclose their political contributions in a report submitted to their audit committees.Thompson submitted the resolution to: Halliburton Corp.; Duke...

    By David Katz • Feb. 25, 2008
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    Sovereign CFO Agrees to Leave Amid Subprime Woes

    A month after Sovereign Bancorp Inc. took at $1.6 billion pre-tax hit blamed on market instability related to the subprime mortgage mess, the company has announced it is replacing its CFO, Mark McCollom. Sovereign said that McCollom’s departure was “without cause,” but that he and the company wer...

    By Kate Plourd • Feb. 22, 2008
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    CFOs on the Move: Week Ending February 22

    • Bruce Nolop, who served eight years as CFO of Pitney Bowes, has left his position as the company reorganizes it senior management. Nolop will be replaced by Michael Monahan, who recently served as executive vice president and president of PB’s Mailstream Solutions and Services Americas. Nolop ...

    By Kate Plourd and Laura Cameron • Feb. 21, 2008
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    Operations Exec Replaces Pitney Bowes CFO

    Bruce Nolop, who has been finance chief at Pitney Bowes for eight years, will depart on March 1, amid a senior management shake-up at the mail technology company. He is leaving to “pursue a senior executive position outside of the company,” according to a recent announcement from Pitney Bowes. T...

    By Kate Plourd • Feb. 21, 2008
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    Justices’ ERISA Ruling Puts Firms on Spot

    The U.S. Supreme Court has given an employee the right to sue his former company for not properly administering his 401(k) account.The justices’ unanimous ruling on Wednesday, stoking the fears of many employers, seems sure to broaden the reach of the Employee Retirement Income Security Act (ERIS...

    By Sarah Johnson • Feb. 20, 2008
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    Big Company, Big Benefits

    As the Democratic presidential candidates prepare to spar Thursday night over healthcare, the U.S. Chamber of Commerce today released its annual study of employee benefits, showing that once again healthcare is by far the most expensive benefit companies offer. As a percentage of payroll, payment...

    By Tim Reason • Feb. 20, 2008
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    Exec Pay Outpaces Corporate Revenue, Study Says

    The 20.5 percent growth of compensation packages for the highest ranking corporate executive at U.S. public companies sharply exceeded the 2.8-percent rise in corporate revenues, according to research from a salary data provider. The research said that, in contrast, over the past 11 years revenue...

    By Sarah Johnson • Feb. 19, 2008
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    Gone Sailing: FPL Group’s CFO Changes Tack

    Answering the siren call of the sea, Moray Dewhurst will be departing as CFO of FPL Group for an “extended ocean sailing venture” with his family, according to the company.“We are all sorry that Moray has decided to leave but we understand his longstanding personal interest in sailing,” said Lew ...

    By Alan Rappeport • Feb. 19, 2008
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    Amid Restatement, Diebold’s CFO Loses Bonuses

    Kevin Krakora, CFO of Diebold Inc., won’t be collecting the bonus compensation that he once expected. The finance chief, who is currently working on restating company results and revising its revenue recognition policy, did not receive his 2007 cash bonus. He will not earn stock awards under Dieb...

    By Sarah Johnson • Feb. 19, 2008
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    GAO’s Walker Walks

    David Walker, comptroller general of the U.S. Government Accountability Office, is leaving the agency after nearly a decade to work in the private sector.Walker will end his tenure without ever having been able to give an audit opinion on the federal government’s financial results. Last December ...

    By Sarah Johnson • Feb. 15, 2008
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    CFOs on the Move: Week Ending February 15

    • After 11 years with Cisco Systems, CFO and executive vice president Dennis Powell will retire, effective February 15. Powell, who served as CFO of the San Jose, Calif.-based company, will be succeeded by current senior vice president of customer solutions finance Frank Calderoni. • Dollar Thri...

    By Eila Rana and Kate Plourd • Feb. 14, 2008
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    GM’s New Sales Pitch: Buy Our Buyout

    General Motors plans to offer buyouts to all of its 74,000 union employees.The pact was announced on the same day that it reported a $38.7-billion loss for 2007, the largest annual loss ever for an automotive company, according to the Associated Press.The deal hammered out with the United Auto Wo...

    By Stephen Taub • Feb. 12, 2008
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    CFOs on the Move: Week Ending February 8

    • The CFO of Leiner Health Products was fired from his position a year after one of the drug maker’s plants became the center of a Food and Drug Administration investigation into its manufacturing practices. The company did not give a reason for the firing of CFO Kevin McDonnell, who will receive...

    By Eila Rana and Kate Plourd • Feb. 7, 2008