Human Capital: Page 178

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    Energy CFO: Mob Rule

    Mary Shelley could have written the plot line. An astonishing, bold experiment suddenly goes terribly wrong, ending with an angry mob of citizens chasing a bloodied and confused monster with big clubs and torches.The scenario is all too familiar for CFOs at energy companies. Afterall, in the wake...

    By Marie Leone • July 3, 2002
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    P/C Insurance CFO: Hard Sell

    Before the advent of Regulation Fair Disclosure, the CFO of a property/casualty (PC)insurance company could quell a rumor about business losses with a simple answer to an analyst on the telephone.Without Reg FD, for instance, Chubb Group’s finance chief, Weston Hicks, would have easily been able ...

    By David Katz • July 3, 2002
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    Telecom CFO: Telephony and Cacophony

    How tough is it right now in the telecommunications sector?Consider this: Eager to site a cell tower in an area with restricted construction, one wireless telecommunications company designed a tower in the shape of a cross and — in exchange for payment to the congregation — placed it on top of a ...

    By Marie Leone • July 3, 2002
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    Hi-Test? World Fuel Services Names New CFO

    >> Francis X. Shea moving up in the World…World Fuel Services Corp. promoted him to CFO post…Shea will keep title of EVP of finance, which he’s held for past year …Apparently, company chose Shea for top finance post for his overseas experience as fueling services provider works to live up t...

    By Lisa Yoon • July 2, 2002
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    Hardest Sectors for CFOs?

    You think your job is difficult?In this, the first-ever toughest jobs survey by CFO.com, our editorial staff picks the sectors that present the stiffest challenges for finance chiefs in 2002. While the job descriptions may vary, the seven industries have one thing in common: they stretch a financ...

    By CFO Editorial Staff • July 2, 2002
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    SimCFO

    >> Warren Jenson restarts as CFO of video-game publisher Electronic Arts Inc… . Jensen left Amazon.com Inc. in March, after online retailer finally reported profits… He replaces Stan McKee, who announced earlier that he would retire later this year after spending 13 years with company…Befor...

    By Lisa Yoon • July 1, 2002
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    Scared Ethical

    Scared EthicalCFOs On The MoveBank One CEO Jamie Dimon calls on longtime associate Heidi Miller to fill CFO spot… Embattled Xerox names former IBM exec Lawrence Zimmerman as its new finance chief, replacing retired Barry Romeril… Sun Microsystems says good-bye to veteran CFO Michael Lehman, names...

    By CFO Editorial Staff • July 1, 2002
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    Love Match?

    >> Match point: The Tennis Channel Inc. netted TV-industry vet John Brady as executive VP, CFO, and secretary… Brady joins the 24/7 cable network devoted to tennis, which is set to launch this fall, after six years as president of his own consulting firm… That company dispenses M&A advi...

    By Lisa Yoon • June 28, 2002
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    Benefits

    As companies look to trim costs, one particularly pricey benefit–work-site day care–appears to be weathering the storm. Although some companies closed on-site day-care centers this year (Honeywell International, for example, closed one), these are isolated instances. A survey by human-resources c...

    By Tim Reason • June 28, 2002
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    Bonfield of Dreams?

    >> After a year marked by laggardly sales, profit warnings, and soured investments, Bristol-Myers Squibb Co. seeking to ease its pain with a new finance chief… The drug company named pharmaceutical veteran Andrew Bonfield CFO, replacing Fred Schiff…Schiff left Bristol-Myers in April—and not...

    By Lisa Yoon • June 27, 2002
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    Sullivan’s Travails

    >> WorldCom Inc. CFO Scott Sullivan got turn-off notice after massive accounting irregularities of $3. 8 billion came to light… Second-largest U.S. long-distance carrier—formerly LDDS—fired Sullivan and accepted resignation of controller David Myers after internal audit revealed that expens...

    By Lisa Yoon • June 26, 2002
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    Enron Investigation Continuing

    >> Former Enron Corp. finance chief Andrew Fastow reportedly requested protection from civil lawsuits as the federal investigation against Fastow and other former Enron executives continues… According to report by Associated Press, Fastow’s lawyers argued in court papers that information he...

    By Lisa Yoon • June 25, 2002
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    Drugstore Cowboys

    >> Former CFO Frank Bergonzi was among three former Rite Aid Corp. executives who were hit with fraud charges by the Securities and Exchange Commission… On Friday, the SEC filed accounting fraud charges against Bergonzi, along with former CEO Martin Grass and former vice chairman Franklin B...

    By Lisa Yoon • June 24, 2002
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    6 Cardinal Rules of Résumé Writing

    Fred Runyan didn’t want to be left holding the bag when the Northern California-based management consulting firm he worked for completed a pending merger. After 10 years with the firm, the senior consultant knew there would be big staffing changes ahead, and decided to explore opportunities elsew...

    By Wendy Enelow • June 21, 2002
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    Now, It’s Dynegy CFO’s Turn

    >> Problems continue for energy marketing and trading company Dynegy Inc…. On Wednesday, company said CFO Rob Doty resigned amid company’s restructuring effort, which includes 340 layoffs… Dynegy’s image, like that of others in energy industry, has suffered since Enron scandal, with regulat...

    By Lisa Yoon • June 20, 2002
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    Dearth of a Salesman?

    The unemployment rate is rising and more and more workers are having difficulty finding jobs.Nevertheless, in a new survey released by Watson Wyatt Worldwide, many corporate managers say they are having as much difficulty attracting and retaining key salespeople as they did when the economy was t...

    By Stephen Taub • June 20, 2002
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    Out-of-Pocket Going Up for Employees

    As health care premiums continue to rise, employers will increasingly shift the burden of costs to their employees. This is the overriding conclusion of a health care survey conducted by the UCLA Anderson Forecast that polled executives from 460 companies across the United States.A whopping 85 pe...

    By Stephen Taub • June 19, 2002
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    Call the Front Desk

    >> Bernard Dvorak delivering board-room service starting July 8 as CFO, SVP, treasurer of On Command Corp…. Company provides TV entertainment services to hotels… Dvorak’s recent jobs include CEO and CFO at Formus Communications, a builder of high-speed networks in Europe… Also did CFO stint...

    By Lisa Yoon • June 19, 2002
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    High Wireless Act

    >> Peter Chehayl leaving wireless-service provider Centennial Communications on an upbeat note… Chehayl resigning as CFO, SVP, treasurer to chase unnamed other interests… Last month, Centennial raised guidance for fourth-quarter EBITDA from $65 million to $70 million, citing revenue growth ...

    By Lisa Yoon • June 18, 2002
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    Fountain Blue

    >> Shake-up continues at Fountain View, operator of long-term care facilities in California and Texas… Company appointed John Harrison as its finance chief… Harrison is latest of four executive appointments as health-care provider restructures under Chapter 11… Fountain View filed for Chapt...

    By Lisa Yoon • June 17, 2002
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    American Airlines CFO Switches to AT&T

    >> Reportedly, Thomas Horton leaving CFO post at American Airlines parent AMR to join AT&T as finance chief… Horton, 41, succeeds Charles Noski, who last month announced desire to leave telecom giant after completion of merger with Comcast Corp…. That deal slated to close later this yea...

    By Lisa Yoon • June 14, 2002
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    Long Way to Tipperary

    >> Energy companies on special watch by SEC in these post-Enron days for accounting irregularities… For its new finance chief, oil and gas company Tipperary Corp. went to the guy who wrote the book on petroleum accounting: Denver-based company named Joseph Feiten to top finance slot. Feiten...

    By Lisa Yoon • June 13, 2002
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    Seller Beware

    >> Universal Access Global Holdings, provider of telecom connectivity services, named Randall Lay CFO… Lay most recently with Metromedia Fiber Network, where he focused on upgrading financial reporting, analysis… Before Metromedia Fiber, he spent nine years at International Specialty Produc...

    By Lisa Yoon • June 11, 2002
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    Marvel’s New Finance Chief: Fantastic?

    >> Kenneth P. West defending universe of Marvel Enterprises Inc. as executive VP and CFO of comic giant… In addition to overseeing finance and treasury, West will also be talking to Wall Street more than his predecessors… Company expanding investor relations program and developing strategie...

    By Lisa Yoon • June 10, 2002
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    Ill-Wind: Health-benefit Costs Up, Up and Away

    CFOs will be thrilled by this news: The rapid rise in health care costs is expected to persist for another year.Preliminary 2003 HMO rates are already averaging about 22 percent, but ranging as high as 94 percent. This compares to the average HMO premium increase of 15.3 percent in 2002, accordin...

    By Stephen Taub • June 7, 2002