Human Capital: Page

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    Workers Less Confident than CEOs

    Earlier this week, the Business Roundtable’s monthly CEO Economic Outlook Index reached a record high, based on strong projections by the 118 respondents for capital spending, sales, and employment.“America’s CEOs are confident that the U.S. economy is robust and competitive,” said Hank McKinnell...

    By Stephen Taub • March 3, 2005
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    Where Are They Now?

    The finance department has produced many memorable names over the past 20 years, and before the current rogues’ gallery of Fastow, Sullivan, and Swartz ruled headlines, CFOs made news for their deal-making and turnaround skills. Where are these notable finance execs today?Perhaps no name is bette...

    By Kate O'Sullivan • March 1, 2005
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    Tech Companies Hit Hard by Labor Suits

    Over the past 18 months, small and large companies in Silicon Valley have been hit by an increasing number labor lawsuits in which employees are demanding overtime pay, the Wall Street Journalreports.Those suits, say experts interviewed for the article, suggest that the high-tech job market is ma...

    By Marie Leone • Feb. 25, 2005
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    Advice from Carly Fiorina’s Headhunter

    Shortly after stepping down as chief executive officer of IBM Corp. in 2002, Louis V. Gerstner addressed MBA students at Harvard Business School. “The thing I have learned at IBM,” he said, “is that culture is everything.” That’s no insignificant statement coming from the outsider who joined the ...

    By Lisa Yoon • Feb. 25, 2005
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    RR Donnelley Hires Sears CFO

    RR Donnelley & Sons Co., the Chicago-based commercial printing outfit, named Glenn Richter, the current CFO of Sears, Roebuck and Co, as its new finance chief and executive vice president and CFO, effective April 1.As a result of the move, Sears may be faced with dealing with new merger talks...

    By Marie Leone • Feb. 25, 2005
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    CFOs on the Move

    • R.R. Donnelley & Sons Co. named Glenn R. Richter as executive VP and chief financial officer effective April 1. Richter is currently CFO of Sears, Roebuck and Co. He will replace Kevin J. Smith. Previously, Richter was CFO of Dade Behring Holdings Inc., and has held various finance jobs at ...

    By Lisa Yoon • Feb. 25, 2005
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    The Domino Effect

    United Air Lines is trying to lighten its load. Last November, the bankrupt carrier proposed terminating up to four of its pension plans that were collectively underfunded by $8.3 billion. But doing so would transfer a payload of up to $6.4 billion to another struggling organization: the Pension ...

    By David Katz • Feb. 24, 2005
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    I Want a New Drug Plan

    When the cost to provide prescription-drug coverage to employees at SRA International increased 8 percent during the company’s fall 2004 insurance renewal, Wayne Grubbs was delighted. An odd response from SRA’s corporate controller and treasurer? Not at all: for other customers of insurer Unicare...

    By Martha E. Mangelsdorf • Feb. 22, 2005
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    Adventures in Babysitting

    It’s every working parent’s scheduling nightmare: a child-care arrangement evaporates during a busy workweek. Cathryn Mehrtens, U.S. director of business development at Latham & Watkins LLP, was stranded when her nanny’s father died suddenly and the caregiver needed to return to Jamaica. “She...

    By Melissa Hennessy • Feb. 22, 2005
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    Attention Shoppers

    Employees are leery of them. Physicians deride them. And critics say they pull cash out of a cash-starved system. None of this, however, is keeping employers from offering consumer-driven health plans (CDHPs) to workers. According to a survey conducted by Mercer Human Resource Consulting, 14 perc...

    By Joseph McCafferty • Feb. 22, 2005
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    Belt-tightening

    Corporate wellness programs are hardly new. As far back as the 1920s, Japanese workers started their day with a round of calisthenics. But with the cost of health-care plans soaring, and increased recognition of the relationship between lifestyle choices and costly chronic conditions, the plans h...

    By Ilan Mochari • Feb. 22, 2005
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    Extras! Extras!

    Two years ago, Clark Engineers Inc., a 120-employee firm based in Peoria, Illinois, scrapped its dental plan because the company could no longer afford its $60,000-per-year contribution.In an effort to cut the expense without depriving employees of the plan, Raylana Anderson, head of human resour...

    By Ilan Mochari • Feb. 22, 2005
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    A Delicate Balance

    Over the years, U.S. corporations have built up the package of benefits they offer their employees. The added compensation represented by health care, retirement plans, and other perks has grown impressively.Today, however, those packages are in danger of falling apart. Soaring health-care costs,...

    By Joseph McCafferty • Feb. 22, 2005
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    Taking on the Benefits Burden

    After simmering for more than a decade, concern over the high cost of employee benefits now verges on a crisis. Because the costs associated with human resources threaten to erode corporate profits, now more than ever the finance department must play a direct role in human-capital management. But...

    By Joseph McCafferty • Feb. 22, 2005
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    Match Game

    Pensions are dying, stock options are dead; bonuses and health-care plans are looking more anemic by the day. Of the portfolio of employee benefits, only the 401(k) remains robust.Companies have long recognized that when it comes to getting employees to participate in a plan, what counts most abo...

    By John P. Mello Jr. • Feb. 22, 2005
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    Promises, Promises

    John Devine is well known on Wall Street for his candor, and during last October’s earnings conference call, the CFO of General Motors Corp. didn’t disappoint. Yes, he acknowledged, retail incentives and rising operating costs continued to erode GM’s bottom line. “But frankly,” Devine added, “the...

    By Alix Stuart • Feb. 22, 2005
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    Uncertain Benefits: The 2005 CFO Human-Capital Survey

    Few CFOs today can avoid grappling with the rising cost of benefits. Mounting health- and retirement-plan costs present tough choices, but outsourcing and technology often create as many problems as solutions. We asked 295 senior finance executives from a diverse range of companies to share their...

    By Don Durfee • Feb. 22, 2005
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    Options Cutback at Time Warner

    “More and more companies today are no longer offering stock options to all employees.” So began an email to employees from Time Inc. chief executive officer Ann Moore and editor-in-chief Norman Pearlstine, obtained by Bloomberg News and confirmed by spokesman Ed Adler. “As of 2005,” it continued,...

    By Stephen Taub • Feb. 22, 2005
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    CFOs on the Move

    • David J. FitzPatrick is retiring as chief financial officer of Tyco International Ltd. at year-end to pursue other interests. FitzPatrick has been finance chief of the Pembroke, Bermuda-based conglomerate since 2002. Effective March 7, Christopher J. Coughlin will assume the roles of executive ...

    By Lisa Yoon • Feb. 18, 2005
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    Continental Cuts Comp for Execs, Board

    Continental Airlines Inc. announced that it will cut its base retainer fee and meeting fees for its board members by 30 percent, effective February 28. The airline will not decrease the compensation for members of the audit committee, however, recognizing their increased responsibilities stemming...

    By Stephen Taub • Feb. 16, 2005
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    Northwest May Terminate DB Plans

    Northwest Airlines Corp. may become the next company to terminate one or more of its defined-benefit pension plans.The Air Line Pilots Association sent an e-mail message to Northwest pilots that it will discuss freezing their pension plan, according to several published reports, since the union i...

    By Stephen Taub • Feb. 15, 2005
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    Health Care CFO Recalled by Marines

    Triad Hospitals Inc. announced that chief financial officer and executive vice president Burke W. Whitman, a lieutenant colonel in the United States Marine Corps Reserves, will be recalled to temporary active military duty in March and will probably serve in Iraq. He is expected to return to the ...

    By Stephen Taub • Feb. 11, 2005
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    Shortcut to CFO

    In recent weeks, former finance employees of Dell Inc. seem to have been busy conquering the world. Robert Davis, who was vice president of corporate finance and chief accounting officer at the computer maker, was named chief financial officer of Computer Associates. Former Dell finance chief Tom...

    By Lisa Yoon • Feb. 11, 2005
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    CFOs on the Move

    • Chief financial officer Robert Wayman takes over as interim chief executive officer of Hewlett-Packard Co. following the departure of Carly Fiorina as chairman and CEO. Wayman, a 36-year veteran of the Palo Alto, California-based technology company, will also retain his CFO responsibilities. Pa...

    By Lisa Yoon • Feb. 11, 2005
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    A Tale of Two Compensation Deals

    Carly Fiorina, who was ousted as chairman and chief executive officer by the Hewlett-Packard Co.’s board of directors, stands to walk away with a severance package worth at least $21.1 million, according to press reports. Since joining HP as its first outside CEO in 1999, Fiorina is credited with...

    By Stephen Taub • Feb. 10, 2005