Human Capital: Page

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    Health Benefits and the ‘Jobless Recovery’

    An article in yesterday’s New York Times seems likely to provide fodder for the debate over the so-called “jobless recovery” being experienced by the U.S. economy.Despite nearly three years of uninterrupted economic growth, the economy has been adding a relatively small number of jobs each month....

    By Ed Zwirn • Aug. 20, 2004
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    CFOs on the Move

    •GlaxoSmithKline CFO John Coombe will retire next March when he turns 60. The company has “a succession plan in place,” a representative of the pharmaceutical giant told Reuters. The spokesman would not confirm a press report that the company has already hired headhunters to find a new CFO, acc...

    By Ed Zwirn • Aug. 20, 2004
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    News Briefs

    •Hurricane Charley will prove to be the cause of the third-largest payout ever by the property/casualty insurance industry, trailing only 9/11 and 1992’s Hurricane Andrew, CBS Marketwatch reports. In Florida, insurers were expecting claims exceeding $15 billion, according to a revised estimate la...

    By Ed Zwirn • Aug. 18, 2004
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    Pensions Short Despite Market Rebound

    While the stock market may have had a strong showing in 2003, many companies are still under-funded when it comes to their pension obligations and are likely to remain so through the end of 2004, according to a report recently released by Standard & Poor’s.The report notes that the overall po...

    By Ed Zwirn • Aug. 17, 2004
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    Love Is in the Office Air

    Seventy-six percent of employed adults say they think office romances are more common today than they were 10 years ago, according to an online survey of 1,747 25- to 40-year-olds conducted by Harris Interactive and sponsored by Glamour magazine and Lawyers.com.In fact, 41 percent admitted to hav...

    By Stephen Taub • Aug. 16, 2004
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    Board Pay Surges 13 Percent

    What a difference Sarbanes-Oxley apparently makes.True, the Sarbanes-Oxley Act has increased the accountability and workload of public company directors. But the added responsibilities have come with a pay hike.The average director at the largest 200 U.S. industrial and service companies got a 13...

    By Stephen Taub • Aug. 13, 2004
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    CFOs on the Move

    • Teleflex Inc. named Martin Headley executive vice president and CFO. He was vice president and CFO at Roper Industries since 1996. Roper officials said a search is underway for a new CFO.• Falcon Products Inc. appointed its second CFO in five months. The St. Louis-based maker of commercial furn...

    By Stephen Taub • Aug. 13, 2004
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    Assets Surge in 401(k) Plans

    “Thank you, stock market.” Thats what most participants in 401 (k) plans seem to be saying after looking at their recent statements. The average ongoing 401(k) account balance increased by 29.1 percent last year, according to a recently published study by the Investment Company Institute (ICI) an...

    By Stephen Taub • Aug. 12, 2004
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    Small-Company Health Plans: Gain, Pain

    Small and mid-sized employers were able to hold health-care cost increases to single-digit rates in 2003. However, it came at the expense of their employees, who saw their benefits erode, according to a new study by Marsh Inc.The total cost of health benefits (medical, dental, and any other healt...

    By Stephen Taub • Aug. 11, 2004
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    Few Workers Worry about Offshoring: Survey

    By definition, outsourcing involves using individuals from another company to perform tasks.Yet most workers and managers don’t believe their jobs are in jeopardy if their companies choose to ship tasks overseas, according to a new survey. Just 8 percent of roughly 1,200 U.S. workers surveyed by ...

    By Stephen Taub • Aug. 10, 2004
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    Summer Severance Packages Are Blockbusters

    Over the last month, compensation committees at three large-cap companies have either agreed to or been ordered to pay out multi-million dollar packages to former senior executives. There’s one note of consolation for shareholders: not all the former employees received the full amount they sought...

    By Stephen Taub • Aug. 10, 2004
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    Altria Expects Medicare Boon

    Altria Group expects to receive a $25-million cost reduction for retiree prescription drugs in the second half of 2004 from adopting an accounting rule related to a new Medicare law, according to the Associated Press, citing the tobacco giant’s recent government filing.The parent company of Kraft...

    By Stephen Taub • Aug. 10, 2004
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    CFOs on the Move

    Michael Huseby has resigned as CFO of Charter Communications Inc. to take over as finance chief of Cablevision Systems Corp, according to Charter. For its part, however, Cablevision hasn’t acknowledged the hiring. Charter did not name a successor. R. Stephen Barrett, Jr. plans to resign Sept. 1 a...

    By Stephen Taub • Aug. 6, 2004
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    Amid Default Perils, Pensions Strengthen

    Nothing like a recovering stock market to boost the funding of many pension funds. Indeed, the funding of large-company pension plans improved last year despite significant increases in pension plan liabilities, according to a Watson Wyatt study of defined-benefit pension plans at 622 of the nat...

    By Stephen Taub • Aug. 5, 2004
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    CEOs Enjoyed Double-Digit Pay Gains

    Happy days are apparently here again, at least when it comes to executive compensation. CEOs of companies in the S&P 500 surveyed by The Corporate Library saw their total pay rise by a median of 22.18 percent in 2003. For the 372 respondents, this was double the rise the group enjoyed the pri...

    By Stephen Taub • Aug. 5, 2004
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    Executive Equity Grants Make Comeback

    Equity grants to senior executives of companies going public are rebounding to levels not seen since the 1990s, according to Hewitt Associates, which cited the trend as a sign of economic recovery.In 2003, equity grants to the top executives of the companies with IPOs amounted to 3.5 percent of t...

    By Stephen Taub • Aug. 4, 2004
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    Learning to Make Decisions as a Team

    “Strategic Decision Making and Critical Thinking,” the subjects of an executive education program at Cornell University’s Johnson School, might be the most essential skills for executive success, says Prof. J. Edward Russo, the program director. Yet despite the importance of “thinking to a conclu...

    By Lisa Yoon • Aug. 1, 2004
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    Switching Industries

    After the long, hard slog of the past few years, you can’t blame senior executives for wanting to jump ship. What’s surprising is how many want to transfer to another fleet altogether. According to a study by the New York-based Association of Executive Search Consultants (AESC), nearly half the e...

    By Kate O'Sullivan • Aug. 1, 2004
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    Investment Insight

    By many accounts, it has been a good year for corporate pension funds. For the first time since 1999, assets for most pension portfolios showed positive investment returns, reducing deficits by more than $50 billion. Meanwhile, discount-rate relief passed by Congress in April has lowered required...

    By Alix Stuart • Aug. 1, 2004
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    Loose Lips

    Just two years after getting whacked by the Securities and Exchange Commission for violations of Regulation Fair Disclosure (Reg FD), Siebel Systems Inc. has been hit again. This time, the people accused of violating the rule, which prohibits selective disclosure of material nonpublic information...

    By CFO Editorial Staff • Aug. 1, 2004
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    CFOs on the Move

    Tyson Foods Inc. chief financial officer Steve Hankins has resigned, effective immediately, saying he wanted time to “pursue personal and family interests,” according to published reports. Hankins, who joined the company in 1983 and was named CFO in 1998, had also served as head of the company’s ...

    By Ed Zwirn • July 30, 2004
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    Transparency Is Everyone’s Responsibility

    Nearly three years after Enron filed for bankruptcy, corporate accounting scandals continue to make headlines.In the past few months, for example, the Securities and Exchange Commission charged Siebel Systems with violating Regulation Fair Disclosure (Reg FD) for the second time in four years; th...

    By Marie Leone • July 30, 2004
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    New Rules for Mutual-Fund Governance

    The Securities and Exchange Commission announced that it adopted a rule, proposed in January, designed to improve the governance of mutual funds and similar investment companies. The new rule will likely add to the difficulties of finding independent directors that have mounted since the advent o...

    By Ed Zwirn • July 29, 2004
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    Who Does What, and Why?

    While it’s generally agreed that employees pose a greater security threat than hackers, virus creators, or other cybercriminals, what’s less well known is that some of the newest tools for ferreting out evidence of wrongdoing can play other roles within companies. That complicates the buying deci...

    By DeeDee Doke • July 27, 2004
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    CFOs on the Move

    EchoStar Communications Corp. announced that chief financial officer Michael McDonnell resigned, effective August 13, 2004, to relocate and take a position nearer to his family on the East Coast. McDonnell joined the Englewood, Colorado-based satellite-TV company four years ago after 13 years wit...

    By Stephen Taub • July 23, 2004