Human Capital: Page

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    Programmer, Reprogrammed

    This past September at a hotel in Atlanta, some 20 senior IT managers in industries ranging from agriculture to retail to high tech attended the first in a series of invitation-only “MBA for IT” seminars sponsored by Blazent Inc., a San Mateo, California-based software vendor.Throughout the day, ...

    By Gay Jervey • Dec. 1, 2004
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    Merck Shields Execs with Severance Plan

    Do Merck & Co. officials fear a hostile takeover?It seems so, given the terms of the severance arrangement it announced Monday for 230 executives. The new plan covers members of the management committee and vice president-level managers. The participants would receive the severance benefits i...

    By Stephen Taub • Nov. 30, 2004
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    401(k) Plans Losing Retirement Race

    Employees with 401(k) plans are unlikely to do nearly as well in a bear market as employees with traditional pension plans, according to a study. The portfolios of employer-funded defined-benefit (DB) plans performed better than the mostly employee-funded, defined contribution (DC) plans in 2000,...

    By Stephen Taub • Nov. 29, 2004
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    A Buyer’s Job Market

    Back in the merger mania of the 1990s, companies bought and sold workforces as much as they scooped up or divested tangible assets. In their haste to expand, acquirers coveted personnel — especially executive talent and technical personnel — as much if not more than property, plants, or equipment...

    By Lori Calabro • Nov. 24, 2004
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    Continental’s Kellner Shares in Pay Cut

    Citing losses since 2001 and expected losses of hundreds of millions of dollars in 2004, Continental Airlines reported that it will cut $500 million in payroll and benefits costs next year. The airline’s reductions, which will take effect Feb. 28, are in addition to $1.1 billion in annual cost s...

    By Stephen Taub • Nov. 22, 2004
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    Far Eastern Promise

    A dearth of local candidates for senior finance posts in China spells big opportunities for foreign nationals. That’s one of the conclusions of a new groundbreaking survey of over 300 Chinese companies from CFO China, a sister publication of CFO.com.Ten years ago, there was a dire shortage of fin...

    By Yang Jian • Nov. 22, 2004
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    In the Journals: Building Bench Strength

    “Many companies face a 40 to 50 percent attrition of their senior executive teams over the next five years,” writes consultant John Beeson in Business Horizons magazine. Moreover, according to a report by the Conference Board, the number of Americans ages 35 to 44 — a demographic pool that could ...

    By Lisa Yoon • Nov. 19, 2004
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    Partial Retirement, Partial Pension

    The Department of the Treasury and the Internal Revenue Service have proposed regulations that would allow older workers with defined-benefit pension plans to cut back on their hours while beginning to receive part of their pension.Today, workers typically can retire at age 65 and receive a full ...

    By Stephen Taub • Nov. 18, 2004
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    The Ghost of Holiday Bonuses Past

    Waiting for a holiday gift from your employer? Bah, humbug!This year, 63 percent of U.S. companies aren’t planning a year-end bonus for the rank and file, according to a new survey by Hewitt Associates.Not that Corporate America has become a collective Scrooge — at least, not lately. Rather, this...

    By Stephen Taub • Nov. 18, 2004
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    PBGC Chief to CFOs: Mind Your Liability

    Bradley Belt, the executive director of the Pension Benefit Guaranty Corp., is facing a complex series of problems, not the least of them the $23.3 billion deficit that the nation’s pension insurer revealed in releasing its financials on Monday. But he has one simple message for the CFOs of compa...

    By David Katz • Nov. 18, 2004
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    GM Predicts Rising Heath-Care Costs

    Officials at General Motors Corp. expects retiree health care costs to rise next year.In its quarterly regulatory filing with the Securities and Exchange Commission, the world’s largest car maker predicted that health-care costs will rise by at least 10 percent in 2005. The filing also said the G...

    By Stephen Taub • Nov. 15, 2004
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    Do As I Do

    An awful lot of attention has been paid lately to “tone at the top.” In September, in his censure of the former CEO, CFO, and president of Freddie Mac, a federal judge claimed the trio had set “an inappropriate tone at the top.” The Public Company Accounting Oversight Board is currently auditing ...

    By Kate O'Sullivan • Nov. 15, 2004
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    CFOs on the Move

    • Verizon Wireless named John Townsend vice president and chief financial officer effective January 2005. The telecom company is a joint venture of Verizon Communications and Vodafone Group. Townsend has been CFO of Vodafone’s Europolitan Holdings AB in Sweden, and Vodafone Australia, as well as ...

    By Lisa Yoon • Nov. 12, 2004
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    Great Expectations

    Ever since the 1940s, when CFO J. Edward Lundy helped restore Ford Motor Co. to profitability, training and mentorship have been as much a part of the carmaker’s financial strategy as number-crunching and analysis. The legendary Lundy “established the pattern we still have today,” says Paul Beer,...

    By Alix Stuart • Nov. 12, 2004
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    Leaves of a Different Color

    As goes California, so goes the nation. At least that is the case with a new paid family leave law that went into effect on July 1. Now 27 other states are considering similar options. The problem for employers: the rules all promise to be different.California’s law, which was first enacted in 20...

    By Lori Calabro • Nov. 12, 2004
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    IRS Audits BofA Retirement Plans

    The Internal Revenue Service is auditing the 1998 and 1999 tax returns of Bank of America’s pension and 401(k) plans.The audit, which was revealed earlier this week in the bank’s quarterly filings with the Securities and Exchange Commission, includes a review of participants’ voluntary transfers ...

    By Stephen Taub • Nov. 12, 2004
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    BofA Pension Plan Targeted by Lawsuit

    Bank of America Corp. employees are suing the company for allegedly using part of their pension accounts as an “arbitrage scheme” to enrich itself at their expense, according to The Wall Street Journal. The lawsuit, Pothier v. Bank of America Corp., was filed in federal court in the Southern Dist...

    By Stephen Taub • Nov. 5, 2004
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    Hard Times

    What does it feel like to work 100 hours a week? It feels like never doing anything but work. It’s being so tired at the end of the day that you don’t trust yourself to make good decisions until you get some sleep. It’s almost 15 hours a day, seven days a week, where you pay full attention to yo...

    By Kris Frieswick • Nov. 5, 2004
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    CFOs on the Move

    • K. Michael Conaway, formerly the vice president, secretary, and treasurer of Bush Exploration and the former the chief financial officer United Bank of Midland — which loaned George W. Bush $500,000 to buy his share of the Texas Rangers baseball team — was elected on Tuesday to the U.S. House o...

    By Lisa Yoon • Nov. 5, 2004
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    A Tale of Two Worlds

    In the grand scheme of things, most CFOs are grateful for their lot. Most financial managers are happy to be alive and working today, enjoying the highest standards of living in history. No one in his right mind envies the Dickensian world suggested by the titles of our two feature stories — the ...

    By CFO Editorial Staff • Nov. 1, 2004
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    Career Tracks

    What is the best path to becoming a CFO? And which companies have produced the most finance executives?To find out, we traced the career tracks of the Fortune 100 CFOs and other well-known finance leaders. The results, not surprisingly, were mixed.Some finance chiefs simply found a company and st...

    By Kate O'Sullivan • Nov. 1, 2004
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    Trading Places

    With bad news about Citigroup appearing with alarming regularity — the latest a forced shutdown of its private banking group in Japan — the financial-services behemoth is shuffling two top managers. CFO Todd Thomson and Sallie Krawcheck, head of the firm’s Smith Barney investment-banking unit, sw...

    By Kate O'Sullivan • Nov. 1, 2004
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    CFOs on the Move

    • One former chief financial officer may be on the move to the Beltway. It doesn’t hurt that he goes way back with U.S. President George W. Bush. K. Michael Conaway was once vice president, secretary, and treasurer of Bush’s oil company, Bush Exploration. He was later senior VP and CFO of United ...

    By Lisa Yoon • Oct. 29, 2004
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    Interim CFOs: Headed Up, or Out?

    Is experience as an interim CFO an asset or a liability on your resume? It depends, say finance executives and recruiters.Consider Jenifer Cua, who was director of treasury at Cryptologic Inc. in May, when she was named interim chief financial officer at the Toronto-based maker of Internet gaming...

    By Lisa Yoon • Oct. 29, 2004
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    Multinationals Centralizing Pay: Survey

    Multinationals with centralized compensation systems report higher effectiveness levels than those with decentralized structures, according to a new survey conducted by Watson Wyatt Worldwide, the human resources consultancy, and WorldatWork, an organization for compensation professionals.The sur...

    By Lisa Yoon • Oct. 28, 2004