Human Capital: Page 141

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    This Is Not a Game

    From the sidelines, professional athletes have leverage that corporate negotiators can only dream of. Endowed with unmatchable skills and advised by top agents, stars like Alex Rodriguez, LeBron James, and Maria Sharapova can just name their price, threaten to walk, and receive untold riches, rig...

    By Alix Stuart • Jan. 13, 2006
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    Matchmaker, Matchmaker, Build Me a Plan

    “The existence of a match is the number one driver for participation” by employees in their company’s 401(k) plan, says Susan Alford, a senior vice president in Aon Consulting’s benefits group.While there are many variations in matching formulas, an employer pay-in of 50 percent up to the first 6...

    By David Katz • Jan. 12, 2006
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    Are You a Strategic CFO?

    Bean counter. Numbers cop. Chief financial officers have long outgrown those stereotypes; today a more appropriate description might be business partner, strategist, first deputy to the CEO. Yet as far as they’ve come, many senior finance executives still have the nagging feeling that they could...

    By Lisa Yoon • Jan. 11, 2006
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    CFO Turnover Sped Up in December

    Although job changes among senior managers overall slowed in December, CFO turnover picked up briskly, according to a recent analysis by Liberum Research.Last month, a total of 2,127 C-level management positions changed hands. That was down 4 percent from November’s total of 2,209, a high for the...

    By Stephen Taub • Jan. 6, 2006
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    American Airlines: Bonuses amid Losses

    AMR Corp., the holding company for American Airlines, may have lost nearly $600 million or so in the past four quarters. But roughly 1,000 management employees are in line to get nearly the same amount of money in stock-based bonuses in April, according to the Associated Press.The potential large...

    By Stephen Taub • Jan. 6, 2006
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    Employment Figures Tell a Tale of Growth

    Although U.S. employment grew more slowly than expected in December, jobs-related data just issued by the U.S. Department of Labor reveal a solid growth story, according to some economists.December nonfarm payrolls rose by 108,000, with professional and business services, food services, health ca...

    By Helen Shaw • Jan. 6, 2006
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    IBM Freezes Its Defined-Benefit Plan

    IBM officials announced sweeping changes to the company’s pension plans that will save the corporation $2.5 billion to $3 billion by 2010.The changes are part of IBM’s global strategy of shifting the future focus of retirement benefits from traditional defined-benefit plans to 401(k) defined-cont...

    By Stephen Taub • Jan. 6, 2006
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    CFOs on the Move

    • Dow Jones & Co. announced that vice president and chief operating officer Richard F. Zannino will become chief executive officer and a director, effective February 1. Zannino joined the publisher of The Wall Street Journal in 2001 as executive vice president and chief financial officer and ...

    By Lisa Yoon • Jan. 6, 2006
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    Chamber of Commerce Seeks Open Borders

    Here is yet another reminder that business creates strange bedfellows…and counterintuitive adversaries.You’d think that a pro-business group like the U.S. Chamber of Commerce would support Republican initiatives. Not always: The powerful trade group is fighting legislation aimed at restricted imm...

    By Stephen Taub • Jan. 5, 2006
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    Scrushy Ordered to Repay Bonuses

    Former HealthSouth Corp. chief executive officer Richard Scrushy has been ordered by a judge to repay his former company more than $47.8 million in bonuses, according to published reports.According to The New York Times, a shareholder lawsuit had alleged that because HealthSouth did not, in fact,...

    By Stephen Taub • Jan. 4, 2006
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    SEC Names New General Counsel

    Brian G. Cartwright has been named General Counsel for the Securities and Exchange Commission. He succeeds Giovanni Prezioso, who announced on November 30 that he intends to return to the private sector early this year.“As the top lawyer for the SEC — the investor’s advocate — the general counsel...

    By Stephen Taub • Jan. 3, 2006
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    Recommended Reading: Top Stories of 2005

    “Recommended Reading” is a resource for financial executives, chosen by financial executives. The list below features the articles that were most in demand by our readers in 2005 — original articles from CFO.com, stories drawn from the pages of CFO magazine, and articles from CFO Europe,CFO Asia,...

    By CFO Editorial Staff • Jan. 3, 2006
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    Stock Options: The Backdating Games

    Following a yearlong investigation, it appears the Securities and Exchange Commission is finally beginning to crack down on companies with questionable policies governing stock-option grants. In November, management at Analog Devices Inc. agreed to pay $3 million to settle an SEC investigation in...

    By Laura DeMars • Jan. 1, 2006
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    Flu Factor

    It’s a classic damned-if-you-do, damned-if-you-don’t scenario. Faced with the twin threats of a severe flu season and the possibility of avian flu turning pandemic, employers must carefully balance their traditional policies of discouraging no-shows against the multiplier-effect costs of spreadin...

    By Norm Alster • Jan. 1, 2006
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    Into the Fire

    It seems Robert Blakely is making a habit of rescuing scandal-ridden companies.The CFO of MCI Inc. — formerly WorldCom Inc. — will soon have a new job: CFO of Fannie Mae, the Washington, D.C.-based mortgage finance giant, which is coming off its own $11 billion accounting scandal. And at an age w...

    By CFO Editorial Staff • Jan. 1, 2006
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    Bob McDonald, The American Red Cross

    Many CFOs can point to a major disaster or two in their careers, but Bob McDonald measures his performance by them. As CFO of the American Red Cross, he has confronted the most daunting 12-month period in the organization’s history: beginning with the Florida hurricanes of 2004, a series of world...

    By Lori Calabro • Dec. 28, 2005
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    CFOs on the Move

    • M. Michele Burns will join Marsh and McLennan Cos. as executive vice president on March 1, 2006, and become chief financial officer by March 31. She succeeds Sandra Wijnberg, who announced in August her intention to resign by March. Most recently, Burns was executive vice president, chief finan...

    By Helen Shaw • Dec. 22, 2005
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    Games They Play

    Two years ago, senior executives at LandAmerica Financial Group Inc. hired a pension consultant to review the investment options in the company’s 401(k) plan. The reason? Managers at the title insurance company wanted an independent analysis of the investment-selection process.It was a prudent mo...

    By Randy Myers • Dec. 22, 2005
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    OPEB Shortfall Exceeds That of Pensions

    Overshadowed by all the worries about underfunded corporate pension plans, there’s another category of implicit promises that are even less adequately funded, according to Standard & Poor’s.Other post employment benefits (OPEB) mostly entail medical costs paid to retired workers. According to...

    By Stephen Taub • Dec. 19, 2005
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    House Passes Pension Measure

    The House of Representatives has passed its version of a bill that seeks to strengthen corporate pension plans.Now House members must meet with the Senate, which passed its own bill last month, to hammer out a compromise measure. Discussions are not expected to take place until early next year, a...

    By Stephen Taub • Dec. 16, 2005
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    CFOs on the Move

    • Chief financial officer Alan Bergman was promoted to president of The Walt Disney Studios. Bergman joined the Burbank, California-based company in 1996 as a director in the corporate controller’s group; he became CFO in 2001.• Paul McDonough, executive vice president and chief financial officer...

    By Lisa Yoon • Dec. 16, 2005
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    Benefit Cuts Are Job One at Ford, GM

    Ford Motor Co. announced that it will freeze the amount of money it spends on health care for white-collar retirees and require salaried employees to pay more of their health-care costs, according to The Wall Street Journal.The newspaper added that the United Auto Workers announced an agreement w...

    By Stephen Taub • Dec. 15, 2005
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    C-suite Churn Continues

    The revolving door in the executive suite revolved a little faster last month.Management turnover in November was the highest for any month this year, according to Liberum Research, which keeps score of high-level changes at public companies.Indeed, November marked the sixth consecutive month of ...

    By Stephen Taub • Dec. 13, 2005
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    Enron Traders Must Return $20 Million

    About 40 former Enron Corp. traders have been ordered by a bankruptcy judge to relinquish $20 million in bonuses they received just prior to the energy company’s bankruptcy filing, according to the Houston Chronicle.U.S. Bankruptcy Judge Robert McGuire ruled the bonuses were fraudulent and improp...

    By Stephen Taub • Dec. 13, 2005
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    CFOs on the Move

    • General Motors Corp. chief financial officer John Devine, whose five-year contract expires this month, is being replaced by Frederick “Fritz” Henderson, effective January 1. Devine joined GM with much fanfare in December 2000 after having retired from Ford Motor Co. as an executive vice preside...

    By Lisa Yoon • Dec. 9, 2005