Human Capital: Page 159
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Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
KPMG Finance Chief Resigns
The chief financial officer of KPMG LLP has resigned, becoming the latest top executive to leave the Big Four accounting firms, according to published reports citing company spokesman George Ledwith. Richard Rosenthal, who has held the CFO position since 2002 after two years as vice chairman for ...
By Stephen Taub • July 8, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
SEC Eyes Pay-to-Play for 401(k)s
The Securities and Exchange Commission’s investigation into mutual funds has taken a sharp turn — now it is looking into how corporations choose the firms that manage their retirement accounts.The commission announced that it asked two dozen mutual-fund companies to provide details about possible...
By Stephen Taub • July 8, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Director Compensation Up 19 Percent
Director compensation at the largest companies climbed 19 percent, to a median $140,350, according to a Towers Perrin analysis published in the consultancy’s newsletter Executive Compensation Resources.Those figures are for the 469 of the Fortune 500 companies that filed their 2003 proxies by May...
By Stephen Taub • July 7, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Take My Car, Please
Like many companies, Philips Medical Systems tried to sell its used corporate vehicles to employees before resorting to dealer auctions. That proved difficult in 2001: Detroit car makers were offering zero percent financing and “there were literally thousands of rental cars on the market after th...
By Lori Calabro • July 7, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Women, Men Both Have an Eye on Top Jobs
Senior-level woman executives aspire to the CEO chair just as much as men, a new study has found, and that’s equally true for women who have children and for those who do not.The study was conducted by Catalyst, a consulting firm geared for women, and based on data from surveys completed by 705 s...
By Stephen Taub • July 6, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
FASB Might Delay Options Expensing
The Financial Accounting Standards Board (FASB) seems willing to delay corporate compliance with its new rules for expensing stock options, which are slated to go into effect at the end of the year, according to thedeal.com.“We will certainly take requests for delay into consideration,” FASB memb...
By Stephen Taub • July 1, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
You’re On!
The stammering, the sweating, the laptop that freezes and leaves the speaker stranded at the podium: presentations like this are the stuff of nightmares. Today, finance executives are presenting to everyone from employees to equity analysts, and they’re taking steps to avoid such disastrous trips...
By Kate O'Sullivan • July 1, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Canary Chorus
Hell hath no fury like a prosecutor scorned. Just ask Jamie Olis. The former vice president of finance at Dynegy Inc., a Houston-based energy company, pleaded not guilty to multiple counts of conspiracy and securities, mail, and wire fraud, and refused to testify against his co-workers. He was se...
By CFO Editorial Staff • July 1, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Casting to Type
If I’m ever asked to take a handwriting test for a job, I’ll probably say no. That’s because, according to handwriting and document examiner Ruth Holmes, my penmanship reveals that I am, among other things, stubborn, highly analytical, and skeptical of authority. Based on these results, I’m not s...
By Kris Frieswick • July 1, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Are Your Employees Ready for Retirement?
Most workers who don’t have access to a company-sponsored, defined-benefit pension plans probably won’t have enough money to support them in retirement, a new study concludes.That’s true even if their company has a 401(k) plan. Employees need to have enough in total retirement resources–including...
By Stephen Taub • June 30, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Part Time All the Time?
“There has been a fundamental shift over the past 10 years, where companies are now much more comfortable with the idea of using interim finance employees,” says Karen Ferguson, executive vice president of Costa Mesa, California-based Resources Connection. Only eight years old, the company now ha...
By Don Durfee • June 29, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
The Ephemeral Finance Executive
After several years of helping to manage the strong overseas growth of her employer, Sapient Corp., Susan Johnson had to make a choice. As CFO of the Cambridge, Massachusetts, consulting-services provider, Johnson recognized that her finance team could no longer handle all of the work associated ...
By Don Durfee • June 29, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Silicon Valley Workers Protest Expensing
The Financial Accounting Standards Board (FASB) last week took its case for expensing stock options into the hostile territory of Silicon Valley.The accounting-standards setter hosted a public hearing attended by executives, venture capitalists and other staunch opponents of FASB’s bid to require...
By Stephen Taub • June 28, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
CFOs on the Move
Jeffrey Rohr was named CFO of Deloitte Touche Tohmatsu and its U.S. member firm, Deloitte & Touche LLP. He has served as regional managing partner of the U.S. firm’s Midwest practice in Chicago since 1995. As CFO, Rohr will join the firm’s U.S. operating and executive committees and its globa...
By Stephen Taub • June 25, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
What Goes Around, Comes Around
As you look out the window of Andrew Church’s office — a stately room in a renovated 200-year-old building on Boston’s Long Wharf, with a picturesque view of yachts and whale-watching boats floating serenely on the Atlantic — you might find it hard to imagine getting a lot of work done. But Churc...
By Lisa Yoon • June 25, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Senate Revives Patient-Rights Bill
One day after the Supreme Court struck down consumers’ ability to sue their health maintenance organizations in state courts for HMOs’ denial of coverage of doctor-approved care, the Senate reintroduced a patient-rights bill.“Yesterday was a sad day for patients,” Senator John Edwards, the North ...
By Stephen Taub • June 24, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Where’s My Raise?
Although the economy might be strengthening and the jobless rate coming down, many employers are still in cost-cutting mode or at least still watching their pennies, a new report by The Conference Board suggests.As a result, many employees who survived the recession and shouldered a heavier work ...
By Stephen Taub • June 24, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Judge Certifies Wal-Mart Bias Suit
A federal judge in San Francisco has given the go-ahead for the largest civil-rights lawsuit ever confronted by a private employer when he included 1.6 million women in a sex-discrimination case against Wal-Mart Stores Inc., according to CBS MarketWatch.U.S. District Court Judge Martin Jenkins ce...
By Stephen Taub • June 23, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
HMOs Win Supreme Court Case
The Supreme Court ruled Monday that employees cannot sue their health maintenance organizations for malpractice damages under state law if the plans won’t pay for doctor-recommended medical care.In a unanimous decision, the justices wrote that a 1974 federal law, the Employee Retirement Income Se...
By Stephen Taub • June 22, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
New Medicare Drug Benefit Falls Short
In 2006, when the new prescription-drug benefits kick in, Americans over 65 should finally get a break on pharmaceutical costs, thanks to the Medicare Reform Act signed into law in December. But employers that supply pharmacy coverage to retirees could make out even better.That’s because the fram...
By David Katz • June 21, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Prescription Change
In 2006, when the new prescription-drug benefits kick in, Americans over 65 should finally get a break on pharmaceutical costs, thanks to the Medicare Reform Act signed into law in December. But employers that supply pharmacy coverage to retirees could make out even better.That’s because the fram...
By David Katz • June 21, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
CFOs on the Move
iVillage Inc., which consists of several online and offline media-based properties geared toward females, named Steven Elkes chief financial officer. He has been with iVillage since 1996, the eve of the Internet bubble. He currently serves as executive vice president, operations and business affa...
By Stephen Taub • June 18, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Pension Underfunding Improves Slightly
Companies with underfunded pension plans reported a shortfall of $278.6 billion in 2003, down slightly from the $305.9 billion reported in 2002, according to the Pension Benefit Guaranty Corp.Last year’s total, however, is still dramatically higher than the $18.4 billion reported in 1999.The 2003...
By Stephen Taub • June 18, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
CPA Ascendant
Not long ago, the degree of choice for an aspiring CFO was the master of business administration, with 61 percent of finance chiefs holding the degree, according to the Finance Leaders Association. But these days, with financial reporting under the microscope thanks to the Sarbanes-Oxley Act of 2...
By Kate O'Sullivan • June 18, 2004 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
”Pay for Performance” Underperforming
Tying the compensation of employees to their performance has been widely deemed as the best way to align the rank and file’s interests with the goals of top management.Most companies that apply performance-based policies to salaries and bonuses, however, have done little to ensure that this appro...
By Stephen Taub • June 17, 2004
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