Human Capital: Page 164

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    Going Public

    No matter the business model, most executives spend their careers striving for revenue growth and profitability. but in the public sector, the definition of success is not so clear. From balancing the needs of varied constituencies to working through the political process, CFOs of public-sector o...

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

    Duke Energy’s board of directors elected David Hauser group vice president and chief financial officer, effective immediately. Hauser, who has spent 30 years with Duke, had been serving as acting CFO since November.Abercrombie & Fitch Co. named Susan Riley chief financial officer. Most recent...

    By Stephen Taub • Feb. 27, 2004
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    A Fine Balance

    Andrew Fastow, the disgraced CFO of Enron, possessed a masters in business administration degree. It was a prestigious one, to boot, from Kellogg Business School at Northwestern University in the US. He never became an accountant. Sherron Watkins, the woman who blew the whistle on the Enron scand...

    By Cesar Bacani • Feb. 27, 2004
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    IBM’s New Underwater Options

    IBM announced a new executive stock option plan that doesn’t guarantee recipients an immediate profit. The strike price for these options will be set at 10 percent above the market price on the day they’re granted, reports the Associated Press.The new plan, which applies to chairman and chief exe...

    By Stephen Taub • Feb. 26, 2004
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    New TXU Chief Is Former Entergy CFO

    TXU Corp. named former Entergy Corp. executive vice president and chief financial officer C. John Wilder as its president and chief executive, effective immediately.He succeeds Erle Nye, who is stepping down as chief executive but will continue as chairman of the board of the Dallas-based utility...

    By Stephen Taub • Feb. 24, 2004
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    Merging Banks Planning Big Paydays

    The planned merger between JPMorgan Chase and Bank One is clearly a combination of equals when it comes to the compensation of the two top executives.According to documents filed last week with the Securities and Exchange Commission, JPMorgan Chase chairman and chief executive William Harrison Jr...

    By Stephen Taub • Feb. 24, 2004
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    CFOs on the Move

    DaimlerChrysler named Bodo Uebber as its new finance chief, replacing Manfred Gentz, who is retiring. Uebber, who will retain his current post as head of DaimlerChrysler Services, had been promoted to the executive board last year as the designated successor to Gentz. The move is part of a plan t...

    By Ed Zwirn • Feb. 20, 2004
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    IASB Requires Options Expensing

    Beginning next year, tssuers of stock in European Union capital markets will have to treat the costs of providing stock options as an expense on their financial statements.That’s the latest on the options-expensing issue from the International Accounting Standards Board (IASB). On Thursday, IASB ...

    By Ed Zwirn • Feb. 20, 2004
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    Under Pressure

    Grouchy, impatient, no attention span, and a temper that can flare up unexpectedly. No doubt CFOs have seen plenty of the tell-tale symptoms of stressed-out staff, and probably even suffer personally on occasion. Let’s face it, stress levels in finance departments have always been high, especiall...

    By Rhymer Rigby • Feb. 20, 2004
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    CFOs on the Move

    Mary Winston has been named CFO and executive vice president of Scholastic Corp., the publishing company. She succeeds Kevin McEnery, the occupant of those posts since l995, who resigned “to pursue new career opportunities with the potential for broader opportunity,” according to the company Most...

    By Stephen Taub • Feb. 13, 2004
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    Now Hiring

    After more than two years of gloom, things are looking up in the corporate-finance job market. CFOs are more cheerful about 2004—and their companies’ hiring plans at last are beginning to show it.Recent studies have tended to bear out the December 2003 installment of CFO’s quarterly Global Confid...

    By Kate O'Sullivan • Feb. 13, 2004
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    Airline Executives See Big Pay Cuts

    As the economy continues to perk up, chances are that executive pay will rise accordingly. The one temporary exception: airline-industry executives.The reason for the dour outlook for those senior managers is that Congress capped their pay last April when it agreed to provide the industry with $2...

    By Stephen Taub • Feb. 11, 2004
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    Incredible Shrinking Retirement Benefits

    More than 4 in 10 employers offering defined benefit pensions said they have converted to hybrid plans, according to a recent survey from Towers Perrin. Another 29 percent have eliminated defined benefit pensions for new hires, and 27 percent have reduced or frozen their defined benefit plans.Med...

    By Stephen Taub • Feb. 9, 2004
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    CFOs on the Move

    Apple Computer announced that Fred D. Anderson will retire as executive vice president and CFO on June 1. He will be replaced by Peter Oppenheimer, Apple’s senior vice president of finance and corporate controller. The company added that it intends to appoint Anderson to its board of directors up...

    By Stephen Taub • Feb. 6, 2004
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    The Medicare Reform Effect

    As health-care costs increased, many companies cut back on the medical benefits they offer to their retirees. So when President Bush signed the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 into law in December, some claimed the legislation would mean the end of such bene...

    By Joan Urdang • Feb. 6, 2004
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    CFO Whistle-Blower Is Vindicated

    In a ruling posted late last week, U.S. Department of Labor Administrative Law Judge Stephen Purcell ordered the Bank of Floyd (Virginia) and holding company Cardinal Bankshares Corp. to rehire, with back pay, former chief financial officer David Welch, according to the Roanoke Times.Cardinal fir...

    By Stephen Taub • Feb. 5, 2004
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    Are Salespeople Out to Sell Themselves?

    As more and more companies are signaling a desire to spend more money on good and services, the employees responsible for winning the business for your company may not be there when you need them.According to CareerBuilder.com, 43 percent of sales professionals will be actively looking for a bett...

    By Stephen Taub • Feb. 3, 2004
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    For Whom the Bell Toils

    The Boeing Co.’s new CFO, James A. Bell, is stepping into a bit of a maelstrom, at the center of which lies the $21.5 billion KC-767A tanker leasing deal with the U.S. Air Force.The deal is currently in a state of official limbo while the Pentagon, the U.S. Attorney’s Office in Northern Virginia,...

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

    The TJX Cos. Inc. named Jeffrey Naylor executive vice president, chief financial officer, effective February 2, 2004. Current CFO Donald Campbell assumes the newly created position of executive vice president, chief administrative and business development officer.Naylor joins TJX from closeout re...

    By Stephen Taub • Jan. 30, 2004
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    Body-Language Tactics That Sway Interviewers

    Before a job interview, do you peruse magazines or review prepared notes? When the meeting begins, do you wait to be told where to sit or choose your own chair? And do you give passionately expressive or carefully controlled responses?In each of these instances, your body language speaks volumes ...

    By Eugene Raudsepp • Jan. 30, 2004
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    Disney Finance Chief Receives Big Raise

    Thomas Staggs, chief financial officer of Walt Disney Co., received a healthy raise last year.His salary climbed 26 percent to nearly $842,000, while his bonus jumped by a third to a cool $1 million, according to the company’s proxy. He also received $450,000 in stock units, up $25,000 from the t...

    By Stephen Taub • Jan. 29, 2004
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    Tribal Knowledge

    Some career moves are worth the gamble. Just ask James LaPorte, who recently left his job as the CFO of a public oil company to become the director of finance for the Little River Casino Resort.In LaPorte’s new role at the Manistee, Michigan, tribal gaming facility, he’s discovered to his surpris...

    By Craig Schneider • Jan. 23, 2004
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    Control(ler) Issues

    Complying with Sarbanes-Oxley is taking quite a toll on corporate finance staffs these days—particularly on controllers. “When my controller is going home for dinner and then coming back to work, there’s something wrong,” says Scott Youngstrom, CFO of Compex Technologies, a New Brighton, Minnesot...

    By Kate O'Sullivan • Jan. 9, 2004
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    Bold New World

    Lester Thurow is all about thinking big. In his new book, Fortune Favors the Bold: What We Must Do to Build a New and Lasting Prosperity, the economics professor at MIT’s Sloan School of Management argues that the United States is in danger of being left behind as the global economy trudges forwa...

    By CFO Editorial Staff • Jan. 5, 2004
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    Recommended Reading: Top Stories of 2003

    “Recommended Reading” is a resource for financial executives, chosen by financial executives. The list below features the 100 articles that were most in demand by our readers during 2003 — original articles from CFO.com, stories drawn from the pages of CFO magazine, as well as articles from CFO E...

    By CFO Editorial Staff • Jan. 4, 2004