Human Capital: Page

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    CFOs on the Move

    • The merger of the New York Stock Exchange and Archipelago leaves room for one fewer chief financial officer. Amy Butte, a former division finance chief at Credit Suisse Group, is resigning as the Big Board’s CFO, effective May 31. Nelson Chai, CFO of Chicago-based Archipelago, will assume the t...

    By Lisa Yoon • Feb. 17, 2006
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    Health-Benefit Inflation Slows Again

    The rise in the price employers expect to pay to provide health-care benefits to U.S. workers decelerated for the fourth year in a row, according to a new Watson Wyatt Worldwide survey.Employers expect a median 8 percent bump in such expenses this year, down from the 10 percent boost they foresaw...

    By Stephen Taub • Feb. 17, 2006
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    Tell Me a Story about Executive Pay

    By proposing a new compensation analysis section that would sit atop the pay tables in financial reports and proxies, the Securities and Exchange Commission could force companies to provide a much more detailed discussion of how they pay their top earners, experts say.Among the SEC’s recently pro...

    By Helen Shaw • Feb. 16, 2006
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    Women in Finance: Hear Them Roar

    The vast majority of executive women in finance are satisfied with their careers and would recommend finance to women starting out today, but nearly half say they’ve been personally affected by the “glass ceiling.”Those are some of the major findings of a newly released study by executive search ...

    By Lisa Yoon • Feb. 16, 2006
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    Do You Have Any Questions for Us?

    “Do you have any questions for us?”It’s usually the last question in a interview, and for many job seekers, one of the toughest — but it’s also rich with opportunity. Good questions will not only seek information but also reveal the candidate’s insight and intelligence, depth of research into the...

    By Lisa Yoon • Feb. 16, 2006
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    Hidden Talents

    There’s no going back. Having succeeded at helping human resources streamline and automate transactional HR functions such as payroll and benefits enrollment, CFOs are looking to do more. They are hard at work bringing their analytic and quantitative skills to higher-level processes like recruiti...

    By Laura DeMars • Feb. 15, 2006
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    What’s Wrong with Finance Training

    Like most companies, General Mills Inc. didn’t always devote the resources to employee training that it should have. “There was always some training, but it was haphazard, not consistent or actionable,” says Lisa Kline, director of finance and supply chain at the $11.2 billion food company. “Peop...

    By Randy Myers • Feb. 15, 2006
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    Putting a Premium on Health

    When a Wal-Mart memo describing the retailer’s plans to hire and retain healthier workers was leaked to the press last year, it touched off a firestorm. But in truth, many companies are coming to regard a fitter workforce as one way to control health-care benefit costs.Feeling the pinch of double...

    By Melissa Hennessy • Feb. 15, 2006
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    Benefits in 2020

    Employee benefits have been a lose-lose situation for years.Even as companies have asked workers to absorb a higher percentage of health-care costs; cut benefits for retirees; and shifted away from richer defined-benefit (DB) plans in favor of more-predictable 401(k)s, CFOs have still had to face...

    By David Katz • Feb. 15, 2006
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    Absence-Minded

    It’s no secret that employees call in sick when they feel fine, but just how often they fib might surprise you. A 2005 survey by CCH Inc., a Riverwoods, Ill.-based provider of information services, found that personal illness accounts for just 35 percent of unscheduled absences.That doesn’t mean ...

    By Karen M. Kroll • Feb. 15, 2006
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    Fannie Interim CFO Earned Nearly $9 Million

    Robert Levin, who spent most of 2005 as interim chief financial officer of Fannie Mae, earned nearly $9 million for the year.Levin, who in November was appointed Fannie’s first chief business officer when the company named Bob Blakely as CFO, received a salary of $750,000 and a bonus of slightly ...

    By Stephen Taub • Feb. 10, 2006
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    Flabby or Fit?

    Ever since two consultants from A.T. Kearney Inc. launched the first finance benchmarking studies in the 1980s, CFOs have been avid consumers of comparative data. Now there are more numbers to feed their appetite. Last year, the American Productivity and Quality Center, long known for its quality...

    By Don Durfee • Feb. 10, 2006
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    The Little Things

    Every year finance departments put themselves through the wringer, racing to meet an endless parade of deadlines. The crunch has intensified recently as finance teams labor to comply with new regulatory requirements even as they try to keep up with routine tasks such as quarterly and annual Secur...

    By Kate O'Sullivan • Feb. 10, 2006
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    CFOs on the Move

    • Frederick G. Silny, senior vice president and chief financial officer of Guess Inc., will be leaving the apparel retailer May 9 to pursue other opportunities. Carlos Alberini will assume the top finance responsibilities until Guess finds a permanent CFO. • SLM Corp., better known as Sallie Mae,...

    By Lisa Yoon • Feb. 10, 2006
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    Delta Deal Could Scrap Pilots’ Pensions

    Delta Air Lines has offered its pilots a $300 million pay package in exchange for the right to terminate its pension plan, according to The Wall Street Journal, citing people familiar with the matter. Under the proposal, the $300 million payment would be in the form of an interest-bearing note.Of...

    By Stephen Taub • Feb. 10, 2006
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    Will Washington Really Act?

    Still stinging from its failure to overhaul Social Security, the Bush Administration is setting its sights on pension reform for 2006. And while it’s far from certain what Congress will serve up for approval, it’s clear there will be plenty of action.To date, both the House of Representatives and...

    By Russ Banham • Feb. 9, 2006
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    Thomas May, Boston Symphony Orchestra

    The Boston Symphony Orchestra is making headlines these days. The Boston Globe recently reported that, since arriving in October 2004, music director James Levine has been “creating a new model for orchestral programming.” But having Levine at the artistic helm comes at a price.As a result of Lev...

    By CFO Editorial Staff • Feb. 8, 2006
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    GM Halves Dividend, Cuts Exec Pay

    General Motors Corp. has announced that it will halve its dividend, slash the pay of top executives, and drastically cut some retiree benefits in another round of sweeping cuts designed to reduce costs and help turn around the slumping auto giant.“These are difficult decisions that involve sacrif...

    By Stephen Taub • Feb. 7, 2006
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    Steelmaker Sued to Protect Pensions

    The Pension Benefit Guaranty Corporation has sued the underfunded pension plan of WCI Steel Inc. of Warren, Ohio, in an attempt to hold its parent, The Renco Group Inc., responsible for the plan’s obligations.The WCI pension plan, which pays for the benefits of about 2,000 retirees and current em...

    By Stephen Taub • Feb. 6, 2006
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    Favorite Questions of Finance Recruiters

    In most academic settings, it’s unethical if not forbidden to “study” by obtaining exam questions in advance, but sample questions are fair game.So it is in the world of the job interview. To help you prepare for your next opportunity, we caught up with three CFO recruiters and asked them, “What’...

    By Lisa Yoon • Feb. 3, 2006
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    CFOs on the Move

    • Former Wachovia Corp. chief financial officer Robert P. Kelly has left the Charlotte, North Carolina-based bank to become chairman, president, and chief executive officer of Mellon Financial Corp. To succeed Kelly, Wachovia tapped treasurer Thomas J. Wurtz, who joined the company in 1994. • Rob...

    By Lisa Yoon • Feb. 3, 2006
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    The Super Bowl ”Spread” for Companies

    The hype surrounding Super Bowl XL will cost U.S.-based businesses $780 million in lost productivity this week, going by a back-of-the-envelope calculation by outplacement consultancy Challenger, Gray & Christmas Inc.Challenger’s calculation begins with the 90 million Americans who are expect...

    By Marie Leone • Feb. 3, 2006
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    The NFL’s Kim Williams

    The National Football League has scored several financial touchdowns this year. For starters, the league has signed some $24 billion in new long-term TV contracts and completed the successful launch of its own cable-channel, the NFL Network. But future success, says 37-year-old CFO Kimberly Willi...

    By Lori Calabro • Feb. 3, 2006
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    Group Dynamics

    Typically, the words think tank conjure an image of tweed-clad philosophers formulating a unified theory of life, the universe, and everything else. But sometimes they are more down to earth.At the University of Massachusetts Boston, there is actually a Chief Financial Officer Think Tank sponsore...

    By CFO Editorial Staff • Feb. 1, 2006
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    HP’s Wayman to Retire Soon

    Robert Wayman, vice president and chief financial officer of Hewlett-Packard Co., is planning to retire after 21 years on the job, according to the Wall Street Journal, which cites people familiar with the matter.Reportedly, the company has launched a search for his replacement but has not specif...

    By Stephen Taub • Jan. 31, 2006