Human Capital: Page 124

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    Applied Micro Files Delayed Financials

    Applied Micro Circuits has wrapped up its internal investigation of past options-granting practices and has completed its overdue regulatory filings.The maker of microprocessors, storage products, and other network equipment announced last September that it would restate its financials back to 19...

    By Stephen Taub • Jan. 10, 2007
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    Exec Comp: The SEC’s Side of the Story

    When the Securities and Exchange Commission issued an amendment to its new executive-compensation disclosure rules late on the Friday before Christmas, a number of politicians and journalists smelled a rat.Indeed, it looked to some as if the SEC was reporting the amendment in the dead of night — ...

    By David Katz • Jan. 10, 2007
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    Cangemi to Head Up FEI

    Michael P. Cangemi has been named president and chief executive officer of Financial Executives International, effective January 15.He succeeds Colleen Cunningham, who held the position since March 2003 and announced last August that she was leaving FEI to spend more time with her family. Cunning...

    By Stephen Taub • Jan. 8, 2007
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    Employees Losing Confidence in Managers

    Only 49 percent of U.S. workers have trust and confidence in the performance of their companies’ senior managers, according to a new report from Watson Wyatt Worldwide.The consultancy surveyed 12,205 full-time U.S. workers across all job levels and major industries. The results represent a dip fr...

    By Stephen Taub • Jan. 4, 2007
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    The SEC Stirs the Pot on Executive Comp

    Before the Securities and Exchange Commission announced an amendment to its new executive compensation rules at 5:15 PM on the Friday before Christmas Eve, it left Barney Frank out of the loop.That might have been a big mistake. Frank, a Massachusetts Democrat who assumed chairmanship of the powe...

    By Cheryl Rosen • Jan. 4, 2007
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    CFOs on the Move: Week Ending January 5

    • Frank Forward, who has served as interim chief financial officer of BJ’s Wholesale Club since December 2005, has agreed to extend his tenure for three more years. Forward, who also holds the title of executive vice president, served in the CFO role from 1997 through May 2005, when he was named ...

    By Sarah Johnson • Jan. 4, 2007
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    Insult to Injury

    Two years ago, Mercury Interactive Corp. was in rapid ascent. Having boosted revenue by more than 30 percent and signed an agreement with SAP that would create hundreds of new sales opportunities, the business-technology-optimization software company nearly tripled its year-over-year earnings for...

    By Alix Stuart • Jan. 4, 2007
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    Beyond the Ivory Tower

    With seven years in public accounting, a Ph.D., and teaching experience at Washington University and Villanova University, associate accounting professor Shelley Rhoades-Catanach would seem somewhat overqualified for an internship. But she eagerly applied to KPMG’s professor-in-residence program ...

    By Kate O'Sullivan and Laura DeMars • Jan. 4, 2007
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    Bank of New York’s Bruce Van Saun

    Editor’s note: Before its merger with Mellon Financial, the Bank of New York pulled off a complex asset swap with J.P. Morgan Chase. To read CFO.com’s exclusive interview with Bruce Van Saun about that deal, click here.From a deals standpoint, last year could not have been any busier for Bruce Va...

    By Edward Teach • Jan. 4, 2007
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    It’s Not Who You Know, It’s How Many

    When David Noymer started the hunt for a new job last fall, he had no trouble finding personal contacts who might lend a helping hand. With a database of more than 2,100 CFOs, accountants, CPAs, lawyers, and other professionals at his disposal, the former CFO of Lehman Millet Inc. knew so many pe...

    By Laura DeMars • Jan. 4, 2007
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    Newspaper Sparks Nabors Review

    Nabors Industries Ltd. said that it will once again review its option granting practices as a result of issues raised in an article published Wednesday in the Wall Street Journal.The oil driller had previously reviewed its option granting practices dating back to 1998, and concluded that there wa...

    By Stephen Taub • Dec. 29, 2006
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    Apple: Jobs Aware of Grant Dates, Not Accounting

    Apple Computer said in a regulatory filing Friday that it had recognized additional noncash stock-based compensation expense of $84 million and restated its financials by a total of $21 million for the three years ending 2006 as a result of improperly dated stock-option grants.Investors have been...

    By Stephen Taub • Dec. 29, 2006
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    Apple’s Backdating Troubles Deepen

    A pair of reports published Wednesday suggest Apple Computer is in deeper legal trouble than previously thought over stock option backdating. The company itself may shed more light on its stock options backdating involvement on Friday, when it is scheduled to file its annual report.According to T...

    By Stephen Taub • Dec. 28, 2006
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    For Some, Enrollment Is the Beginning—and the End

    Enrolling employees in the company 401(k) plan involuntarily is a surefire way to boost participation rates, a new study reports, but it also creates a group of investors who don’t manage their plans well.The survey, conducted by human-resources consulting firm Hewitt Associates, finds that when ...

    By Joseph McCafferty • Dec. 28, 2006
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    SEC Steps Up Probe of UnitedHealth

    UnitedHealth Group said the Securities and Exchange Commission has launched a formal probe of its stock option practices. The health insurer reported last May that it was the subject of an informal inquiry.Last week, the company estimated that the total pre-tax non-cash charges for stock-based co...

    By Stephen Taub • Dec. 27, 2006
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    Best of 2006: Careers

    Maybe your resolutions for 2007 are more ambitious than the standard “eat less junk food” and “exercise more” goals. Have you considered “find a new job”?Of course, just like scaling back on an M&M’s fetish, thinking about a job change is much easier than actually going ahead and doing it. We...

    By CFO Editorial Staff • Dec. 27, 2006
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    Speech Therapy

    Finance executives are increasingly taking the stage to communicate corporate strategy to analysts, shareholders, employees, and boards. But many of them readily admit they’d rather hold a lightning rod in a thunderstorm than a microphone on stage.Little wonder, then, that presentation coaching i...

    By Laura DeMars • Dec. 27, 2006
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    SEC Tweaks Pay Disclosure Rules

    The Securities and Exchange Commission has adopted new rules for how companies should disclose executive and director compensation.The regulator said the rules should more closely conform with the reporting of stock and option awards under the Financial Accounting Standards Board’s Statement of F...

    By Stephen Taub • Dec. 26, 2006
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    Backdating Scandal Costs Broadcom Ex-CFO $33 Million

    The options-backdating scandal is costing former Broadcom chief financial officer William Ruehle nearly $33 million.That is the amount of money Ruehle, who resigned in September, stands to lose after the semiconductor maker canceled his options to purchase more than 1.8 million shares of Class A ...

    By Stephen Taub • Dec. 22, 2006
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    SEC Names New CFO

    The regulator that scrutinizes the work of public companies’ CFOs is losing its own finance chief. Margaret Carpenter is retiring as the SEC’s chief financial officer after more than 32 years of working in the federal government. Kristine Chadwick will take over as CFO and associate executive dir...

    By Sarah Johnson • Dec. 21, 2006
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    CFOs on the Move: Week Ending December 22

    • Dell has named Donald Carty vice chairman and chief financial officer, effective January 1. He replaces James Schneider, who will be executive chairman of Frontier Bancshares. Schneider, who had been with Dell since 1996, agreed to remain with Dell through the end of the current fiscal year to ...

    By Sarah Johnson • Dec. 21, 2006
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    Juniper Takes $900 Million Option Charge

    Juniper Networks said it will take a $900 million non-cash charge for stock-based compensation expenses stemming from erroneously dated options grants. The networking company said the write-offs relate to options granted between June 9, 1999 and December 31, 2003.This is one of the largest charge...

    By Stephen Taub • Dec. 21, 2006
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    Lights, Camera, Profit

    Flush with cash and never short on confidence, hedge funds are luring finance chiefs away from their corporate confines in increasing numbers. Fred Watt, the former finance director of Royal Bank of Scotland, recently joined the board of fund manager Old Oak Holdings, while Naguib Kheraj, who ann...

    By Jason Karaian • Dec. 21, 2006
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    Options Probe Claims Forrester’s CFO

    Forrester Research said its Chief Financial Officer and Treasurer Warren Hadley has resigned, effective immediately. The market research firm said the departure is a result of initial findings of an internal investigation that uncovered irregularities with respect to an option grant for 5,000 sha...

    By Stephen Taub • Dec. 20, 2006
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    Dell Names Carty CFO

    Dell has named Donald J. Carty vice chairman and chief financial officer, effective January 1. He replaces James M. Schneider, who recently agreed to become executive chairman of Frontier Bancshares Inc. Schneider, who had been with Dell since September 1996, agreed to remain with the company thr...

    By Stephen Taub • Dec. 20, 2006