Human Capital: Page 148

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    Employers Seek Benefit Cost-Sharing

    A number of prominent companies are requiring their rank and file to pony up more money for health insurance, either in the form of high co-payments or a larger share of the premiums.Indeed, the average family of four covers about 17 percent of its total health care costs, according to a new repo...

    By Stephen Taub • May 27, 2005
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    CFOs on the Move

    • BearingPoint Inc. chief financial officer Joseph Corbett stepped down by mutual agreement, according to a company statement. “Harry [chief executive officer Harry You] and I together decided that the challenges facing BearingPoint require that Harry have a CFO of his own choosing,” said Corbett...

    By Lisa Yoon • May 27, 2005
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    Survey Finds Shift from Stock Options

    In preparation for mandatory stock option expensing, nearly three-quarters of large companies are revising or planning to revise their long-term incentive program designs, according to a survey of 115 companies by Hewitt Associates.More and more companies are shifting from issuing stock options ...

    By Stephen Taub • May 24, 2005
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    Marsh to Reprice Options

    In a move that evokes memories of the late 1990s, shareholders of Marsh & McLennan Cos. approved a management plan that will offer them new options for old.The world’s largest insurance broker and its Putnam Investments subsidiary have been under the shadow of investigations by New York Attor...

    By Stephen Taub • May 23, 2005
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    Gillette Awards Options to Top Execs

    Gillette disclosed in a Securities and Exchange Commission filing that it has awarded large numbers of options to top executives in advance of its planned $57 billion acquisition by Procter & Gamble Co.The Boston-based consumer products company made its filing on the same day it announced tha...

    By Stephen Taub • May 20, 2005
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    Finance-Team Overhaul at Fannie Mae

    Mortgage-finance giant Fannie Mae announced sweeping changes to its finance department by naming nine new executives, including eight in the controller’s office.The controller’s office, led by senior vice president and controller David Hisey, who joined the company back in January, includes four ...

    By Stephen Taub • May 20, 2005
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    Judge Nixes Settlement on Excess Pay

    So much for the proposed legal settlement between shareholders of Fairchild Corp. and two of the company’s top executives. Vice Chancellor Leo Strine of the Delaware Court of Chancery rejected the proposed agreement as inadequate, according to The Washington Post.“Cosmetic whimper” he called it, ...

    By Stephen Taub • May 20, 2005
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    CFOs on the Move

    • Linda S. Huber joined Moody’s Corp., the New York-based parent of Moody’s Investors Service, as executive vice president and chief financial officer, succeeding Jeanne M. Dering. Before joining Moody’s, Huber worked at PepsiCo as vice president of corporate strategy and development, and as vice...

    By Lisa Yoon • May 20, 2005
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    Another Job Opening at the FOMC

    Edward Gramlich announced that on August 31 he will leave the Federal Reserve Board, where he has served since 1997, according to published accounts. Gramlich added that he will not attend the August 9 meeting of the Federal Open Market Committee, which is responsible for setting the country’s in...

    By Stephen Taub • May 19, 2005
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    Qualcomm Endorses Options Derivative

    Cisco Systems Inc. is galvanizing support for its revolutionary proposal to create a market value for its employee stock options, which could reduce the impact on earnings when those options must be expensed.The San Diego Union-Tribune reported that Qualcomm Inc. chief financial officer William ...

    By Stephen Taub • May 19, 2005
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    Sarbox Whistle-Blower Ordered Reinstated

    Washington Mutual Inc. has been ordered to reinstate a fired loan executive under the whistle-blower provisions of the Sarbanes-Oxley Act, according to press reports.The Department of Labor ordered the Seattle-based thrift — the nation’s largest — to rehire Theresa Hagman, who had served as a vic...

    By Stephen Taub • May 18, 2005
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    Pension Plans and Conflicted Consultants

    The Securities and Exchange Commission has released a report critical of the conflicts of interest in the practices of some pension-plan consultants.“Although investment advisers owe their clients a fiduciary obligation — including to adequately disclose all material conflicts of interest — some ...

    By Stephen Taub • May 17, 2005
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    Little Growth Seen in 401(k) Plans

    As President Bush and Congress debate the future of Social Security, last year saw only a slight improvement in employees’ 401(k) participation rates, plan balances and diversification efforts, according to a new study by Hewitt Associates.Compared with results from 2002, when Hewitt conducted it...

    By Stephen Taub • May 16, 2005
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    Cisco Looks to Re-route Options Pricing

    Cisco Systems Inc. is seeking approval from the Securities and Exchange Commission to sell a new derivative that could reduce the hit to earnings when it begins expensing the value of certain employee stock options.Most public companies must begin expensing options as of their first fiscal year t...

    By Stephen Taub • May 13, 2005
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    New Enforcement Chief for SEC

    The Securities and Exchange Commission has named Linda Chatman Thomsen as the new director of the Division of Enforcement. She succeeds Stephen Cutler, who announced last month that he would leave the commission after six years.Thomsen, who joined the SEC as assistant chief litigation counsel in ...

    By Stephen Taub • May 13, 2005
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    CFOs on the Move

    • TIAA-CREF announced that executive vice president and chief financial officer Elizabeth A. Monrad is taking an unpaid leave of after receiving a Wells notice from the Securities and Exchange Commission. The company added that it understands the notice informed Monrad of a possible civil enforce...

    By Lisa Yoon • May 13, 2005
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    Kerkorian Taps Veteran Finance Exec

    Jerome York is back in the spotlight.Kirk Kerkorian, who said in a government filing that he has already bought 22 million shares of General Motors Corp. in the open market, announced that he has hired the venerable finance executive as a consultant.From September 1995 to October 1999, York serve...

    By Stephen Taub • May 11, 2005
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    Stock-Trading Ban for Fannie Mae Employees

    Fannie Mae’s 5,000 employees were told they cannot buy or sell their company’s shares for the foreseeable future, according to the Washington Post, citing an E-mail sent by to employees. The paper said that spokesman Charles V. Greener confirmed the message’s authenticity and said Fannie Mae took...

    By Stephen Taub • May 6, 2005
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    Treasuring the Treasurer

    It used to be that the treasurer’s duties were fairly straightforward. While the controllers counted the money, treasurers made sure the company had money to count by managing working capital. The treasurer’s job consisted mainly of transactional activities, like short-term borrowing, investing, ...

    By Lisa Yoon • May 6, 2005
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    CFOs on the Move

    • Bernard L. Han resigned as chief financial officer of Northwest Airlines Corp. The Minneapolis-based airline, which did not provide additional details about Han’s departure, named Neal Cohen as executive vice president and CFO.Cohen was executive vice president of finance and CFO for US Airways...

    By Lisa Yoon • May 6, 2005
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    CFO Heads North to Rejoin Northwest

    Financially troubled Northwest Airlines Corp. has named Neal Cohen as its new executive vice president and chief financial officer.He replaces Bernard L. Han, who resigned. The airline did not provide additional details about Han’s departure or whether he has another job. In a statement, presiden...

    By Stephen Taub • May 5, 2005
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    $187 Million for Toys ”R” Us Insiders

    A number of present and former officers and directors of Toys “R” Us Inc. stand to receive a total of $187 million when the company completes its $6.6 billion sale to an investment group, according to the retailer’s proxy filing.None of this largesse will be paid out in “Geoffrey money,” either. ...

    By Stephen Taub • May 4, 2005
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    Clocking R&R

    For centuries, humans have wres-tled with the concept of time. In most cases, time wins. In fact, time is such a difficult idea to comprehend—so ephemeral, so relative—that digital-clock makers should be forced to put quotation marks around their LCD readouts.The concept of time appears especiall...

    By John Edwards • May 3, 2005
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    Letting Go

    Do you feel like you never have enough time to do your work? Are you constantly checking and rechecking the work of your direct reports? Is your in-box always full? If this sounds familiar, you may be that dreaded office creature: the micromanager.While few executives would admit to the designati...

    By Kate O'Sullivan • May 1, 2005
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    When Plans Collide

    As the debate rages over whether Americans should be allowed to “carve out” some of their Social Security payroll tax to create individual accounts (IAs) for retirement, one potentially volatile question has gone largely unasked: How would the existence of the private IAs affect participation in...

    By Roy Harris • May 1, 2005