Human Capital: Page 120

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    Manpower’s Michael Van Handel

    Manpower was very much an issue at the World Economic Forum in January, where delegates from around the world pointed to a variety of demographic factors that will challenge businesses to find the skilled workers they need. Among those holding forth on the topic were executives from the company t...

    By Scott Leibs • March 1, 2007
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    For CFOs, Few Gold Watches

    The career-life expectancy of the top finance spot at large public companies continues to decline. In the past few months, several high-profile CFOs left after short stints in top finance positions, including Sallie Krawcheck, who spent just more than two years as CFO of Citigroup, and Alvaro de ...

    By Joseph McCafferty • March 1, 2007
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    Star Search

    It’s 7:30 A.M. on a Saturday and Ananda Baron is juggling a cup of coffee and a bagel, trying to down a quick breakfast before a long day of interviews. One of 25 MBA students invited to PG&E Corp.’s San Francisco headquarters for second-round interviews, Baron has been cruising a crowded con...

    By Alix Stuart • March 1, 2007
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    Being Here

    The pace of work is accelerating. Competitive pressures come from all over the globe; investors grow ever more demanding; cell phones and the Internet keep everyone connected and on alert, 24/7. People are constantly busy and anxious about the future; they have little time to think. No wonder mor...

    By Edward Teach • March 1, 2007
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    Support Our Ex-Troops

    They have an unwritten yet clearly understood commandment in the military. It’s a rule that soldiers in combat live, and sometimes die, by. It is, like love of flag and country, inviolate: Never leave a buddy behind.Understand this concept and you understand Jimmy Norris. The new CFO of the Veter...

    By John Goff • March 1, 2007
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    AOL Taps Kumar as New CFO

    AOL named Nisha Kumar its new Chief Financial Officer. She replaces Stephen Swad, who last week said he would leave to take a job with a private-equity firm, according to an internal memo cited by several news reports.Kumar comes to AOL from its parent, Time Warner Inc., where she held senior pos...

    By Stephen Taub • Feb. 28, 2007
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    Pediatrix Blames Ex-Exec for Options Mess

    Pediatrix Medical Group said on Wednesday that it will restate prior financial statements due to “documented instances of intentional backdating” by a former executive that occurred in the granting of stock options prior to 2001. The company, which provides newborn, maternal-fetal, and pediatric ...

    By Stephen Taub • Feb. 28, 2007
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    Autodesk Restates, Blames Option Grants

    Autodesk Inc. said it will restate its previously-issued financial statements by between $38 million and $45 million to correct errors related to accounting for stock-based compensation expense over the 18-year period ended 2006. About $23 million to $26 million will apply to the income statement...

    By Stephen Taub • Feb. 28, 2007
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    Ex-McAfee Attorney Indicted

    McAfee Inc.’s former general counsel was indicted for fraudulently backdating stock option grants in 2000 and 2002. Kent Roberts was charged in a seven count criminal indictment with devising a scheme to defraud by granting himself and others valuable in-the-money stock options. The charge also a...

    By Stephen Taub • Feb. 28, 2007
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    Operation Match: Richer 401(k) Benefits

    The gold standard for employer matches to employee 401(k) contributions has moved steadily upward toward the 100 percent mark over the last five years, according to a recent study by Mercer Human Resource Consulting. The portion of 401(k) plans with a match rate of 100 percent has risen from 26 p...

    By David Katz • Feb. 27, 2007
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    KB Home Faces DoJ Probe

    KB Home late Friday said that the Department of Justice is looking into its past stock option practices. The homebuilder stressed in a press release that the company itself is not a target of the investigation.In January, KB said the Securities and Exchange Commission upped its probe of the stock...

    By Stephen Taub • Feb. 26, 2007
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    Keane Faces SEC Probe as It Goes Private

    The Securities and Exchange Commission has requested documents from Keane, Inc., related to the company’s stock option granting practices. The business process and IT services company said it intends to cooperate with the regulator’s inquiry.Earlier this month, rival Caritor agreed to acquire Kea...

    By Stephen Taub • Feb. 26, 2007
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    Survey: CFO Turnover Will Soar in 2007

    Turnover among finance chiefs will reach a record high in 2007, according to a report by executive services firm Tatum.A January 2007 survey of 163 Tatum consultants, each with at least a dozen years of C-suite level experience, found that 93 percent expect even more finance chiefs to step down t...

    By Helen Shaw • Feb. 26, 2007
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    Citi Names Amex’s Crittenden CFO

    Citigroup named Gary Crittenden Chief Financial Officer, effective March 12, 2007. He was formerly executive vice president and CFO and head of Global Network Services at the American Express Co.American Express, which said it was informed by Crittenden on Friday of his decision to leave, quickly...

    By Stephen Taub • Feb. 26, 2007
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    “How’m I Doing?”

    What you think about performance reviews may depend on which side of the desk you sit. When Salary.com surveyed 2,000 employees and 330 human-resources professionals, it found that while two-thirds of companies believe their performance reviews are effective, only 39 percent of employees agree.On...

    By Laura DeMars • Feb. 23, 2007
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    Back Home, Ex-Troops in Benefits Battle

    The shoddy treatment of soldiers at a Walter Reed outpatient facility was detailed in a series of articles published this week by the Washington Post. The revelations, while disturbing, were hardly surprising to longtime watchers of the military health-care system. Indeed, veterans service organi...

    By John Goff • Feb. 22, 2007
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    Board: No Fraud Brewing at Peet’s

    An internal review of options granting practices at Peet’s Coffee and Tea Inc. may leave executives with a bitter after taste, but nothing more. A special board committee charged with examining the coffeehouse chain’s granting practices said on Thursday that while errors were made, no intentional...

    By Marie Leone • Feb. 22, 2007
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    CFOs on the Move: Week Ending February 23

    • Judy Lewent will retire as executive vice president and chief financial officer of Merck & Co. in July. She has spent 17 of her 27 years with the pharmaceutical company as the finance chief. She was once considered a strong candidate for becoming CEO. Lewent joined Merck in 1980 after servi...

    By Sarah Johnson • Feb. 22, 2007
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    The Incredible Bouncing Boss

    Company bosses are being fired in record numbers nowadays. In some ways this is not the disaster for them that being axed is for the rest of humanity, as the chances are they have been paid well enough to have saved plenty of money. Indeed, many of them will collect a large “golden parachute” pay...

    By Economist Staff • Feb. 22, 2007
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    Making Accounting Cool

    When it comes to names, India has no qualms about being different. Take, for example, the recent decision by the council of the Institute of Chartered Accountancy of India (ICAI) to up the profile of its accountants by adding the prefix CA to the names of all licensed CPAs, following the example ...

    By Jennifer Lee • Feb. 22, 2007
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    Declaration of Dependence

    Managing finance in a global organization has never been easy. Time zones, distance, and technology all make it hard for a CFO in Houston to keep tabs on happenings in far-off Hyderabad. Often, overseas finance departments have to fend for themselves. That may be changing. A new study by the Econ...

    By M. Mahanama • Feb. 22, 2007
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    Tiger, Lance, and You

    Tiger Woods has one. So does Roger Federer. And Lance Armstrong. People in virtually all walks of life, from sports to the performing arts to education, now have private coaches to guide them toward their full potential. Lately CFOs have joined the party as they, or their companies, realize that...

    By Theresa Sullivan Barger • Feb. 21, 2007
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    Is There a Doctor in the Company?

    U.S. health care spending is expected to double to $4.1 trillion over the next decade, up from $2.1 trillion in 2006, according to a government report released on Wednesday. That means by 2016, nearly 20 cents of every dollar spent will go toward hospital stays, prescription drugs, and other heal...

    By Marie Leone • Feb. 21, 2007
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    A ”Frank” Look at Executive Pay?

    Rep. Barney Frank (D-Mass.) plans to introduce legislation as early as next week that would give shareholders the right to cast a non-binding vote on executive pay packages.Frank previously has said that executive compensation is one of his top priorities this year, his first as chairman of the H...

    By Sarah Johnson • Feb. 21, 2007
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    Bonus Payouts Nixed by Fannie Board

    Fannie Mae is withholding at least 36 bonuses from current and former officials, which in the aggregate are worth $44.4 million. According to a February 20 regulatory filing, the board of directors announced that Fannie Mae will not make bonus payouts under the mortgage lender’s long-term incenti...

    By Marie Leone • Feb. 21, 2007