Human Capital: Page 174

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    Life in the Drive-Through Lane

    Strategy and operations don’t typically fall under a CFO’s purview, especially at a corporation that’s a household name. In that sense, Kerrii Anderson, finance chief and executive vice president for Wendy’s International, is a rarity.Shortly after joining the fast-food chain in 2000, Anderson wa...

    By David Katz • Oct. 25, 2002
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    Rough Sledding? Don’t Stop Recruiting

    Companies may be laying off workers, but most are still on the prowl for top talent.According to an earlier study (2001) by HR consultancy Towers Perrin, the vast majority of companies that cut staff (73 percent) were still hiring top talent. And forty-two percent had created targeted programs to...

    By Lisa Yoon • Oct. 24, 2002
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    Blackout Rule Hits the Books

    The corporate playing field is being leveled-off again, this time by the U.S. Department of Labor’s Pension and Welfare Benefits Administration.Yesterday the agency issued interim final rules requiring defined contribution pension plan administrators to provide participants 30-day advance notice ...

    By CFO Editorial Staff • Oct. 23, 2002
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    Unequal Pay for Equal Work?

    Across the board, women in finance are earning substantially less than their male counterparts. This, according to a new survey by CareerBank.com.Based on responses to an E-mail survey from 2,575 finance staffers, CareerBank.com’s 2002 Salary Survey Report found that on average, women make $19,00...

    By Lisa Yoon • Oct. 21, 2002
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    Human Resources, the Game Show

    It was only a matter of time before the worlds of reality television and business converged.Apparently banking on the peculiar notion that unemployment is damn entertaining—provided it’s happening to somebody else—Sony Pictures Television International recently bought the international format rig...

    By Lisa Yoon • Oct. 17, 2002
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    How to Ace That Interview

    Jeffrey Christian wants you to make him hustle. The founder of executive-search firm Christian & Timbers, known for its placements for big-name tech companies like IBM, Microsoft, and Hewlett-Packard, likes to see passionate candidates who like to take charge.He doesn’t mind if you don’t want...

    By Lisa Yoon • Oct. 17, 2002
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    To Expense or Not to Expense

    According to the latest edition of Knowledge@Wharton, the biweekly magazine by the Wharton School of Business, the tech industry is responding to the debate over expensing stock options in classic Silicon Valley-style: look elsewhere for your incentive compensation ideas.Scrapping the expensing q...

    By Lisa Yoon • Oct. 16, 2002
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    Divorce Case Provides a Peak into E&Y Finances

    Ernst & Young, Big Four professional services firm, appointed Norbert Becker to the posts of global managing partner of finance and infrastructure and CFO.Becker, a 23-year veteran of now-defunct accounting giant Arthur Andersen, joins E&Y at an intriguing time in the firm’s history. This...

    By Lisa Yoon • Oct. 15, 2002
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    Best Interview Tactic?

    Jeffrey Christian wants you to make him hustle. The founder of executive-search firm Christian & Timbers, known for its placements for big-name tech companies like IBM, Microsoft, and Hewlett-Packard, likes to see passionate candidates who like to take charge.He doesn’t mind if you don’t want...

    By Lisa Yoon • Oct. 14, 2002
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    Double-Dealing Duffers

    Between the WorldCom bombshell and the stock market plunge, summer 2002 didn’t yield the relaxing downtime the season usually does. But if you’re like most executives, you probably still got in some quality golf time. A study sponsored recently by Starwood Hotels & Resorts Worldwide — as part...

    By Lisa Yoon • Oct. 9, 2002
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    Cash Is In; Options Out

    The economic slump continues to take its toll on workers throughout North America, as a vast majority of companies reduced salary budgets, eliminated jobs, or put hiring moratoriums in place this year, says a new survey of 431 companies conducted by Watson Wyatt Worldwide.The human-resources cons...

    By Lisa Yoon • Oct. 8, 2002
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    CFOs Are Cordially Invited

    The pool of directors willing to sit on corporate boards—usually CEOs—is shrinking, according to the 17th Annual Spencer Stuart Board Index (SSBI). That means executive recruiters will be targeting CFOs to fill board vacancies, say experts.Traditionally, board members look for active CEOs to advi...

    By Lisa Yoon • Oct. 7, 2002
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    Faking Stanford

    Kenneth Lonchar didn’t learn Latin at Stanford University.Nor, for that matter, did he learn anything else at the prestigious California school.Veritas Software — whose name is Latin for “truth” — said Lonchar resigned as CFO and executive vice president after officials discovered he lied about g...

    By Lisa Yoon • Oct. 3, 2002
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    Andy in Chains

    Former Enron CFO Andrew Fastow surrendered to the Federal Bureau of Investigation at its Houston office Wednesday morning, according to press reports.The erstwhile finance chief was accompanied by his attorney, John Keker. After Fastow turned himself in, Keker quickly left. About a half hour late...

    By Lisa Yoon • Oct. 2, 2002
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    Leadership Training Hangs Tough

    Conventional wisdom holds that during tough economic times, companies should scale back spending to just the basics. As budgets are trimmed or frozen, professional education stands to take a hit. Mass employee-training classes and “soft” training programs for anything besides essential skills are...

    By Lisa Yoon • Oct. 1, 2002
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    Offshore Registration

    Companies that recently reincorporated abroad to lower their annual U.S. taxes have faced ferocious criticism from Congress, unions, and corporate-governance activists. Caught in that maelstrom, The Stanley Works Inc. reversed its plans to incorporate in Bermuda in August. But companies already o...

    By Ian Springsteel • Oct. 1, 2002
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    Deferred Compensation

    As Congress returns to work on Capitol Hill this fall, deferred-compensation plans are squarely in lawmakers’ sights. Before the August recess, both the House and Senate lined up provisions imposing new restrictions on the popular plans for highly paid executives.The House’s approach is getting p...

    By Ian Springsteel • Oct. 1, 2002
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    Hottest Seat? Audit Committee Chair

    Back in the good old pre-Enron days, serving on corporate boards was a pretty cushy job–a few meetings, a couple of conference calls, and some fancy dinners for a nice fee and maybe some stock options for your trouble. But these days, directors of public companies are facing a whole new ball game...

    By Andrew Osterland • Oct. 1, 2002
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    Talk, or Walk?

    Barron Stone doesn’t like to be called a whistleblower. The CPA, who alleges that his employer, Duke Energy Corp., kept the price of electricity artificially high in the Carolinas with questionable accounting, says he prefers to be called an “informant.” “The word ‘whistleblower’ has a negative c...

    By Joseph McCafferty • Oct. 1, 2002
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    And Justice for All?

    CFOs On the MoveWilliam Demchak, who “took a sabbatical” from running structured finance at J.P. Morgan Chase & Co. just as it came under fire for its deals with Enron, popped up as the new CFO of PNC Financial Services Group Inc., a bank that incurred SEC wrath this past summer for “camoufla...

    By CFO Editorial Staff • Oct. 1, 2002
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    Pardon My Raise

    The fact that biotech executives saw their salaries rise in 2001 probably didn’t provide consolation for many of them. That’s because drops in their stock-option values and cutbacks in their perks overrode salary boosts and pushed their total compensation packages down, according to the latest ex...

    By Lisa Yoon • Sept. 30, 2002
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    For CFOs, Riskier Business

    So you’ve worked hard, made the right connections, and risen through the ranks to become a finance chief. Congratulations. The only thing left to do is make sure you have a good lawyer.The passage of the Sarbanes-Oxley Act, together with the culture of suspicion that is thriving in America, incre...

    By Alix Stuart • Sept. 27, 2002
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    It’s an Awfully Long Block, CFOs Say

    As we reported last week, the latest CFO Global Confidence Survey revealed that finance chiefs are a lot less sanguine about the economic future than they were in June.If you need a second opinion about the prognosis, another quarterly survey — this one by the Financial Executives Institute (FEI)...

    By Lisa Yoon • Sept. 26, 2002
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    Execs Taking More Money Upfront

    In a report released last week, Paul Hodgson of The Corporate Library targeted upfront payments to newly hired senior executives as one more component of the executive-compensation package that companies abuse.Hodgson, a senior research associate at the Web-based tracker of executive-pay practice...

    By Lisa Yoon • Sept. 26, 2002
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    Survey: Finance Department Pay Up 8%

    So much for salary freezes and meager pay hikes.Last year, the average corporate finance professional enjoyed an 8.2 percent salary increase. As a result, the average salary and bonus package for 2001 worked out to $130,900, according to a new survey conducted by the Association for Financial Pro...

    By Stephen Taub • Sept. 24, 2002