Human Capital: Page 185

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    CFOs Back in the Hood

    It’s a rerun at InFocus Corp.: CFO Michael Yonker has rejoined the company after three years as CFO of Wieden + Kennedy, a privately held advertising agency.Yonker left InFocus, he says, to spend more time with his children, who were then of high school age. Now he’s heading back for a shot at su...

    By DeAnn Christinat • Jan. 3, 2002
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    Operating Room

    The mid-1990s were promising years for most corporate finance chiefs trying to hold down health-care costs, but painful ones for hospital companies such as Tenet Healthcare. Like other hospital operators, Tenet was no match for the rapidly growing health maintenance organizations that were signin...

    By Andrew Osterland • Jan. 1, 2002
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    It’s the People, Stupid

    It’s a line employees and union leaders have touted for years: Happy employees make for more profitable companies. Now there seems to be more data to back it up.Watson Wyatt Worldwide, the benefits consulting firm, says it has evidence to support the idea that improvements in human-capital practi...

    By David Katz • Jan. 1, 2002
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    Paper Money: Crisp and Even

    The scale is mind-boggling. Over the past few months, some 14 billion brand-new notes, ranging in value from euro500 ($440) down to euro5, have been printed by the 12 countries that have adopted Europe’s single currency, the euro. As many as 10 billion of these notes will be introduced on January...

    By Economist Staff • Dec. 21, 2001
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    For Jenkins, Goodbye and Goodwill

    Edmund L. Jenkins, chairman of the Financial Accounting Standards Board, will retire next summer, ending a tenure marked by rulings that profoundly altered the way companies account for and report their financial status.Under Jenkins, FASB issued FAS 133, which requires companies to mark derivati...

    By CFO Editorial Staff • Dec. 21, 2001
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    Growing Up Brady: Label Maker Promotes From Within

    Managers at Digex Inc., a Web site hosting company, named Scott Zimmerman interim chief financial officer. Zimmerman replaces Tim Adams, who is leaving the company to spend more time with his family. Digex, based in Laurel, Maryland, is controlled by long-distance telephone and data services comp...

    By Jennifer Caplan • Dec. 19, 2001
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    Wild Oats Sews Up New Finance Chief

    Edward Dunlap has been chosen to head the finance department at organic food market chain Wild Oats Markets Inc. Dunlap succeeds Frances Rathke, who took over the position on an interim basis in July. That’s when former Wild Oats CFO Mary Beth Lewis left the Boulder, Colorado-based company.Dunlap...

    By Jennifer Caplan • Dec. 18, 2001
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    Wal-Mart to Pay $6.8 Million to Settle Labor Charges

    Wal-Mart Stores Inc. has agreed to pay $6.8 million to settle a lawsuit alleging it violated the Americans with Disabilities Act, according to the US Equal Employment Opportunity Commission.Wal-Mart was accused of discriminating against people with disabilities in a pre-employment screening.The a...

    By Stephen Taub • Dec. 18, 2001
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    New on America Online: Slash and Burn?

    Michael Kelly, who was recently replaced by Wayne Pace as CFO of AOL Time Warner Inc., has quite a way with people. Reports say he phoned up and dressed down two Merrill Lynch & Co. analysts who downgraded the company after a dismal third-quarter earnings release. Then he failed to return pho...

    By CFO Editorial Staff • Dec. 17, 2001
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    Enron Denies 401(k) Charges

    Management at Enron Corp. took the offensive on Friday, rebutting charges that it froze employee retirement accounts filled with the company’s stock. Some workers claim that the company prevented them from making investment changes in their plans while the company’s stock price disintegrated in O...

    By Stephen Taub • Dec. 16, 2001
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    David Foy, Hartford Life

    David Foy, chief financial officer at Hartford Life (part of the Hartford Financial Services group and the third largest insurance company in the U.S.), is by no means a traditional CFO. For starters, Foy stayed away from accounting in college, chosing instead to focus on math and applied statist...

    By Jennifer Caplan • Dec. 14, 2001
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    In the Family’s Way

    “She’s a fighter,” say her friends and foes alike. Certainly Carly Fiorina, chief executive of Hewlett-Packard (HP), needs all her considerable spunk at the moment. The deal on which she has staked her career, a $24 billion merger with Compaq Computer, is teetering on the edge of collapse now tha...

    By Economist Staff • Dec. 14, 2001
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    Anticipation: New Heinz CFO to Take Over in January

    Management at packaged-food maker H.J. Heinz Co. said Arthur Winkleblack has been named CFO effective January 7. Winkleblack succeeds Paul Renne, who is retiring after 28 years with the Pittsburgh-based company.Winkleblack worked most recently at Indigo Capital, which is an investor group focused...

    By Lisa Yoon • Dec. 13, 2001
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    Leaving Las Vegas: Park Place CFO Pulls Up Stakes

    Management at casino operator Park Place Entertainment Corp.said CFO Scott LaPorta will leave the company on January 31. LaPorta has been finance chief since the company’s inception in 1998, when Hilton Hotels Corp. spun off its gaming assets to form a separate company. The company has started a ...

    By Lisa Yoon • Dec. 12, 2001
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    Sealed Air Wraps Up New CFO

    Managers at Dave & Buster’s Inc., an operator of entertainment eateries, named W.C. Hammett Jr. to the CFO post.Hammett started his career in public accounting with PricewaterhouseCoopers in 1968. He then served as controller for Spartan Food Systems Inc. from 1973 to 1988. During his time wi...

    By Jennifer Caplan • Dec. 12, 2001
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    The Lord Alps Those: ABB, Zurich Financial Bring in New CFOs

    Swiss-Swedish industrial-engineering group ABB appointed Peter Voser CFO. Currently finance chief at oil giant Shell Worldwide Oil Products, Voser will join ABB early in the second quarter of 2002. He replaces Renato Fassbind, who is leaving to become chief executive of Swiss international trade ...

    By Lisa Yoon • Dec. 11, 2001
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    New Digs for Homestore.com CFO

    Managers at online real-estate and home improvement company Homestore.com announced that CFO Joseph Shew is leaving the company for personal reasons. Shew joined the Westlake Village, California-based company in 1998 as controller, moved up to vice president of finance, and became CFO in February...

    By Lisa Yoon • Dec. 10, 2001
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    Sick Stuff: Health-Benefit Costs Up Big Next Year

    The party’s over…or winding down for employees with sweetheart health insurance packages.Employers expect their health-care costs per employee to rise by 12.7 percent in 2002, according to a recent survey of 2,800 large and small companies by William M. Mercer. This would come on top of an 11.2 p...

    By Stephen Taub • Dec. 10, 2001
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    Dan Mayleben, Adaytum

    Dan Mayleben, CFO at privately held Adaytum, has worked his way up the finance ladder. After graduating from Creighton University with an accounting degree, Mayleben went to work in the audit practice at Deloitte & Touche. Eventually, after 10 years at D&T, Mayleben moved on to Merrill Ly...

    By Lisa Yoon • Dec. 7, 2001
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    Did Enron 401(k) Freeze Burn Employees?

    Now, the spotlight on Enron is being shined on the company’s retirement benefits. The Labor Department has opened an investigation into questions raised by Enron’s handling of its workers’ retirement benefit plans, according to U.S. Labor Secretary Elaine Chao. Chao also announced that the Depart...

    By Stephen Taub • Dec. 6, 2001
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    CFO for B2B: Ariba Hires Finance Chief

    Jim Frankola is the new finance chief at B2B software vendor Ariba Inc. Frankola succeeds Robert Calderoni, who was named president and chief executive officer last month.Frankola will be responsible for financial reporting, planning and business analysis, treasury, investor relations, informatio...

    By Jennifer Caplan • Dec. 6, 2001
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    Don’t Touch That Dial: Another Move at AOL Time Warner

    Vicky Miller is the new head of finance at Turner Broadcasting System Inc., owner of TBS, Cartoon Network, and TNT. The appointment comes only weeks after Turner Broadcasting’s parent company, AOL Time Warner Inc.,replaced its own finance chief after warning the company would fall short of its ag...

    By Jennifer Caplan • Dec. 4, 2001
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    Incents and Betterments: Dispelling the Myth of Short-Term Incentives

    The traditional short-term incentive plan may be destined for the dustbin if an alternative adopted by a handful of companies is successful enough to win more adherents.The conventional plan limits cash bonuses and links them to annual budgets, with the aim of meeting quarterly objectives. But wh...

    By Marie Leone • Dec. 1, 2001
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    Employment Opportunities

    At first glance, the private equity market might not look like a greener employment pasture for finance executives. An analysis by Mercer Management Consulting Inc. of leveraged buyout portfolios shows 50 to 60 percent of private equity funds that invested heavily between 1998 and 2000 would have...

    By Tim Reason • Dec. 1, 2001
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    Public Speaking, Private Hell

    Once upon a time, Given Imaging Ltd. wanted to go public. Now, this company had a fascinating product: a pill containing a tiny video camera to take pictures inside the small intestine. But its CFO, Zvi Ben David, had a problem: Investors didn’t know much about Given, or whether it might be a goo...

    By Joan Urdang • Dec. 1, 2001