Human Capital: Page 72

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    How to Stay in the Retiree-Benefit Game

    During the first quarter of this year, Goodyear Tire & Rubber, International Paper, AT&T, CBS, and other major companies reported large accounting charges related to the loss of a tax deduction. The deduction — a 28% break for corporations that provided a Medicare Part D drug subsidy to r...

    By Marie Leone • Aug. 5, 2010
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    SEC Charges Former Citi CFO

    Former Citigroup CFO Gary Crittenden has been charged by the Securities and Exchange Commission with misleading investors about the bank’s exposure to subprime-mortgage-related assets. The claim against Crittenden was filed on Thursday, along with similar charges against Citigroup Inc. and Citi’s...

    By Marie Leone • July 30, 2010
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    CFOs on the Move: Week Ending July 30

    United Airlines parent company UAL Corp. has announced that CFO Kathryn Mikells will leave the airline after its merger with Continental Airlines is finalized. Continental CFO Zane Rowe will become head of finance of the combined company.Supervalu Inc. finance chief Pamela Knous has resigned from...

    By Joan Urdang • July 30, 2010
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    Russian CFO Foresees Five Sluggish Years

    A few weeks ago, Alexey Kornya, the CFO of Mobile TeleSystems, was in New York to help ring the opening bell of the New York Stock Exchange. Yet while he and other top executives of MTS, a leading cell phone operator in Russia, would be celebrating the company’s 10th year of listing on the Big Bo...

    By David Katz • July 23, 2010
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    CFOs on the Move: Week Ending July 23

    TIAA-CREF has named Virginia Wilson to the top finance spot. Previously, she was CFO of Wyndham Worldwide Corp. Wilson replaces Georganne Proctor, who was appointed chief integration officer in January.Tom Horton, CFO and executive vice president of finance and planning at American Airlines’s par...

    By Joan Urdang • July 23, 2010
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    Internal Audit’s Say on Pay

    There’s no question that executive compensation has come under the microscope recently. Since December companies have been dealing with new Securities and Exchange Commission requirements regarding various proxy disclosures about pay. SEC staffers have been asking for ever-more detail about compe...

    By Alix Stuart • July 22, 2010
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    A Long Time at the Helm

    In 1979, when Hank Funsch joined Long Island-based Dayton T. Brown Inc. as its treasurer, spending decades with the same company was still a common practice. Thirty-one years later it’s a rare career that takes that course, but Funsch remains at the company as its CFO, a position he has held sinc...

    By • July 19, 2010
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    CFOs on the Move: Week Ending July 16

    Investment-management company Artisan Partners has named C.J. Daley as its finance chief and managing director, effective July 26. He comes to the firm from Legg Mason Inc., where he was CFO.Jonathan Peacock will take over the top finance spot at biotechnology firm Amgen Inc. on September 1, repl...

    By Joan Urdang • July 16, 2010
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    The Perils of Flextime

    Is the deadline-driven, pressure-cooker world of corporate finance becoming more accommodating about where and when work gets done? Could a function that has long embodied the traditional 9-to-5, chained-to-your-desk mentality be open to staffers’ requests to work remotely, at odd hours, or part-...

    By Alix Stuart • July 15, 2010
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    “We Have the Flexibility and Firepower to Succeed in Volatile Times.”

    You might think that these would be boom times for defense contractors, given the duration of the war in Afghanistan and the continuing focus on security in the long wake of 9/11. But those forces are counterbalanced by the Department of Defense’s efforts to rein in costs and shift spending to pr...

    By Scott Leibs • July 15, 2010
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    A Lesson in Self-Reliance

    Want to save money on health-care insurance? Try this strategy: stop buying it.While self-insurance is nothing new to large companies — some 90% of those with more than 5,000 employees have been doing it for years — a growing number of smaller companies are self-insuring to cut costs. According t...

    By Alix Stuart • July 14, 2010
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    Women CFOs Holding Steady

    A recent count of women holding CFO positions at the nation’s largest companies shows that — drumroll, please — almost nothing has changed since last year. There are currently 44 female CFOs among the Fortune 500 companies, the same number as counted in 2009 but a slight improvement over the 38 c...

    By Alix Stuart • July 13, 2010
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    CFOs on the Move: Week Ending July 9

    C.J. Daley has resigned as finance chief of asset-management firm Legg Mason Inc. Terrence Murphy, chief operating officer of affiliate ClearBridge Advisors, has been appointed interim CFO. Murphy was CFO of Citigroup Asset Management before it was acquired by Legg Mason in 2005.EDGAR Online Inc....

    By Joan Urdang • July 9, 2010
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    Notes from a Job Search: Rating Your Contacts

    With so many people caught between jobs these days, CFO asked Gary Starr, a CPA and MBA who was most recently CFO at a $70 million professional-service firm, to write about his current experience looking for a new position. In the fourth installment of a series, Starr offers an unconventional way...

    By Gary Starr • July 8, 2010
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    Good News for Retirement Plan Sponsors

    Two new pieces of legislation hammered out at the end of June give retirement-plan sponsors two new reasons to breathe a sigh of relief.One, related to 401(k)s, is contained in the Dodd-Frank Wall Street Reform and Consumer Protection Act, the compromise version of financial-reform legislation th...

    By Alix Stuart • July 7, 2010
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    CFOs on the Move: Week Ending July 2

    Asset-management firm W.P. Stewart & Co. has appointed Mark Bergen as managing director-CFO and chief operating officer. He replaces managing director-CFO Susan Leber and managing director-COO Rocco Macri, who will be leaving the company. Most recently, Bergen was CFO and COO of AG Asset Mana...

    By Joan Urdang • July 2, 2010
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    The USO’s Show Must Go On

    For nearly 70 years, the United Service Organizations (USO) has entertained the troops, with shows featuring celebrities from Bob Hope and Marilyn Monroe to Robin Williams and Scarlett Johansson. But the congressionally chartered nonprofit supports the U.S. military in many other ways. Today ther...

    By Alix Stuart • July 2, 2010
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    Unvested Stock Options: Left Behind?

    What would prompt a longtime, well-respected CFO to sue his former employer after being let go?In Mark Sullivan’s case, it’s unvested stock options.In a complaint filed in June in a Massachusetts court, the former EVP and division CFO for privately held Fidelity Investments contends that the mutu...

    By Alix Stuart • July 1, 2010
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    Can Innovation Curb Rising Health Costs?

    The fact that the Patient Protection and Affordable Care Act provides health-care coverage to 30 million uninsured Americans is undeniably a good thing, agreed three experts during a panel discussion at the CFO Core Concerns conference in Baltimore on Monday. But the law comes at a price, they no...

    By Marie Leone • June 30, 2010
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    Reform Bill Mandates Say on Pay

    While the Dodd-Frank Wall Street Reform and Consumer Protection Act is mostly about reforming banks and other companies in the financial-services industry, there are some dramatic new mandates for public companies across all industries buried deep in the 2,000-plus page document.Offering sharehol...

    By Alix Stuart • June 29, 2010
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    CFOs on the Move: Week Ending June 25

    Michael Cavanagh, CFO of JPMorgan Chase & Co., will become CEO of the firm’s Treasury & Securities Services business. He replaces Heidi Miller, who will become president of the international division. Doug Braunstein, currently head of Investment Banking, Americas, will take over from Cav...

    By Joan Urdang • June 25, 2010
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    Notes from a Job Search: Creative Ways to Market Yourself

    With so many people caught between jobs these days, CFO asked Gary Starr, a CPA and MBA who was most recently CFO at a $70 million professional-service firm, to write about his current experience looking for a new position. In the third installment of a series, Starr looks at ways for job hunters...

    By Gary Starr • June 23, 2010
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    The Happy Meal Syndrome

    Could McDonald’s Happy Meals be contributing to your employees’ discontent?Aside from any health issues that might be associated with consuming burgers and fries, could the array of options for what goes into a Happy Meal — fries or apple slices? soda or fruit juice? cheese or no cheese? — be fee...

    By Alix Stuart • June 22, 2010
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    CFOs on the Move: Week Ending June 18

    Barter company International Monetary Systems Ltd. has named David Powell CFO and treasurer. Previously, he was finance and operations manager for US Bancorp’s insurance subsidiaries.Unilife Corp. has named R. Richard Wieland as its finance chief, taking over from Dan Calvert, who is relocating t...

    By Joan Urdang • June 18, 2010
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    An Unplugged Vacation? Not for CFOs

    Ron Fior, CFO of San Jose, California-based Callidus Software, recently took two vacation days to visit family in Canada over a long weekend. But while he made it to Canada, mentally he was still in California for much of his stay, thanks to the hours he spent on work e-mails. “The reality of the...

    By Alix Stuart • June 18, 2010