Human Capital: Page 138

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    Managing Your ”Greatest Asset”

    “People are our greatest asset.” That truism is too warm and fuzzy for Paul Murray, chief financial officer of Proxicom, a developer and manager of Internet-based software. The consultants who make up the majority of Proxicom’s workforce are what Murray calls “billable resources” — and they’re no...

    By Lisa Yoon • March 22, 2006
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    Lonely Planet’s Carolyn Sutton

    Since publishing Across Asia on the Cheap in 1973, Lonely Planet has grown to become the largest independent travel-guidebook publisher in the world, with over 600 titles, 200 authors, and 400 employees globally. Faced with growing competition and free information from the internet, Australia-bas...

    By Abe De Ramos • March 22, 2006
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    Talk about a Sunk Cost

    When it comes to valuing stock options, most people generally think of their potential worth when exercised, or their utility as a substitute for cash compensation. And investors, of course, worry about their potential dilutive effect on the rest of the shares.But Delta Air Lines Inc., which is c...

    By Stephen Taub • March 21, 2006
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    Dell Doubles Up on India Headcount

    Dell Inc. continues to ramp up its commitment to India. Chairman Michael Dell announced in Bangalore on Monday that the company plans to double the number of its employees on the subcontinent, to 20,000, over the next three years.The computer giant now employs 10,000 workers in India at four call...

    By Stephen Taub • March 20, 2006
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    The Case against Health Savings Accounts

    With health-care costs perched high on their list of worries, many CFOs see health savings accounts as a way to stanch the bleeding. But growing corporate interest in HSAs has been met by a growing backlash by critics and researchers.A creation of the 2003 Medicare act, HSAs do offer employers th...

    By David Katz • March 17, 2006
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    Chrysler Hikes White-collar Health Fees

    The embattled auto industry continues to chip away at employee benefits.Chrysler Group announced sweeping changes to its health-care programs, asking current and retired salaried employees from the professional-administrative, management, and executive ranks to pay more out of pocket. “The more y...

    By Stephen Taub • March 16, 2006
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    Another Step for Small-biz Health Bill

    The Senate Health, Education, Labor, and Pensions Committee voted 11-9 in favor of a bill that would allow business and trade associations to band their members together to offer group health coverage on a national or regional basis.“Today’s vote is the first major step in 15 years toward more af...

    By Stephen Taub • March 16, 2006
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    CFOs on the Move

    • Karl-Ludwig Kley, chief financial officer of Deutsche Lufthansa AG since 1998, plans to depart the airline on September 1 to become deputy chairman of Merck KGaA. Earlier this week the German drugmaker (no relation to U.S.-based Merck & Co.) made an unsolicited $17.4 billion offer for Scher...

    By Lisa Yoon • March 16, 2006
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    Hoop Dreams: Everybody in the Pool

    When the Wichita State Shockers tip off against the Seton Hall Pirates at 12:20 p.m. eastern time on Thursday, it will mark the start of “March Madness,” and the beginning of a $3.8-billion loss in worker productivity, says John Challenger, the CEO of Chicago-based outplacement firm Challenger, ...

    By Marie Leone • March 16, 2006
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    Remote Control

    It’s hard to know what’s most alarming about a recent global survey on corporate crime from PricewaterhouseCoopers. Is it that the 3,600 respondents found that financial misreporting, money laundering, and other economic crimes have been increasing lately? Or is it that these events don’t seem to...

    By Janet Kersnar • March 16, 2006
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    Big Bucks for Big-company Finance Chiefs

    Sallie Krawcheck, chief financial officer of Citigroup Inc., earned nearly $10 million last year, including a bonus of $5.3 million, restricted stock and deferred stock awards totaling $4.3 million, and a salary of $500,000. In a detailed table of perks — which will be required if the Securities ...

    By Stephen Taub • March 15, 2006
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    Bigger Fish, Smaller Pond

    Having amassed more than 15 years’ experience at IBM Corp. on a steady ascent toward the top finance job, J. Donald “J.D.” Sherman did what any sensible executive would do: he chucked it all to become CFO at a company 1/300 the size of IBM.Sherman’s experience is not at all peculiar; many senior ...

    By Scott Leibs • March 15, 2006
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    Staples’ John Mahoney

    This year, both Staples Inc., the world’s largest office-products company, and its CFO, John Mahoney, celebrate milestones. The company, which started in a Boston suburb with one store, turns 20 years old and now counts more than 1,780 stores and serves customers in 21 countries. Its sales hit $1...

    By Lori Calabro • March 15, 2006
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    Help Wanted

    Several years ago, managers at heavy industrial manufacturer Ingersoll-Rand Co. were looking to hire 60 welders to help build heavy drilling machines in Texas. What they got was a lesson in immigration law. Human-resource managers at the Bermuda-headquartered company scouted the United States for...

    By Don Durfee • March 15, 2006
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    Change at the Exchange

    With the New York Stock Exchange and Archipelago Holdings merger nearly complete, the role of executive vice president of strategy at the new entity would seem full of growth opportunities. But that is apparently not enough for Amy Butte, the NYSE finance chief who announced her resignation last ...

    By Kate O'Sullivan • March 15, 2006
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    Are You Overworked?

    What do CFOs and godfather of soul James Brown have in common? Reportedly, they are hardest working “men” in their respective businesses. At least that’s the conclusion of a new study that interviewed 60 CFOs from the largest companies in the U.S. and Europe.Since passage of the Sarbanes-Oxley Ac...

    By Marie Leone • March 15, 2006
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    Option-grant Timing Eyed at Comverse

    Is Comverse Technology Inc. the latest company to run into timing problems with its options awards?On Tuesday, the maker of equipment for telecommunications networks announced that it may need to restate its financials, although the company has not determined the years that would be affected. In ...

    By Stephen Taub • March 14, 2006
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    Mid-cap CFOs Get Big Pay Packages

    You didn’t have to work for a large company to have earned large sums of money in 2005. Just ask the finance chiefs at several mid-cap companies whose incentive pay dwarfed salaries.For example, Sean Hennessy, chief financial officer and senior vice president of finance for Sherwin-Williams, a $6...

    By Stephen Taub • March 10, 2006
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    CFOs on the Move

    • United Rentals Inc. named Martin E. Welch executive vice president and chief financial officer on a permanent basis; had been interim CFO of the Greenwich, Connecticut-based equipment rental company since September. Before joining United Rentals, Welch most recently was director and business ad...

    By Lisa Yoon • March 9, 2006
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    Filling the Void

    A high-flying career in finance is often all about being in the right place at the right time. But in Frederick “Fritz” Henderson’s case, it was more than that. The 47-year-old — who’s just left his job as vice chairman of GM Europe to become group CFO of the loss-making car maker in Detroit — ca...

    By Janet Kersnar • March 9, 2006
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    HP Sued over Fiorina’s Severance

    Two shareholders are suing Hewlett-Packard Co., alleging that it broke company policy when it awarded a severance package to former chief executive officer Carly Fiorina, according to published reports.Pension funds for the Indiana Electrical Workers union and the Service Employees International ...

    By Stephen Taub • March 8, 2006
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    People Skills Deserve More Respect

    The quality that leaders respect most in other leaders is the ability to bring in financial results, according to a recent report by talent-development consultancy Development Dimensions International. In DDI’s fourth annual survey, nearly 5,000 “leaders” and human resources representatives aroun...

    By Lisa Yoon • March 8, 2006
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    SEC Eyes Outsourcer’s Options Grants

    Affiliated Computer Services Inc. announced that the Securities and Exchange Commission has launched an informal investigation into stock-option grants made by the company from October 1998 through March 2005.In a regulatory filing, the Dallas-based technology outsourcer stated that it is coopera...

    By Stephen Taub • March 7, 2006
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    CFOs on the Move

    • Fairchild Semiconductor named Mark S. Frey executive vice president and chief financial officer. Previously, Frey was vice president of finance and corporate controller for Lam Research Corp., a supplier of wafer fabrication equipment and services to the semiconductor industry. He has also serv...

    By Lisa Yoon • March 3, 2006
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    Huge Payouts for CFOs with Options

    Several top finance executives took home big cash payout last year, in many cases based on large options exercises.For example, Murray Demo, executive vice president and CFO with Adobe Systems, earned a little more than $13 million in 2005. This includes more than $12.2 million in realized gains ...

    By Stephen Taub • March 2, 2006