Human Capital: Page 90

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    Benefits: Adult Education

    If you want to offer employees an inexpensive benefit that will foster loyalty and boost productivity, consider a navigation system. No, not a GPS, but a tool that will guide them in making a host of decisions about everything from tuition-reimbursement programs to 401(k) strategies to consumer-d...

    By Josh Hyatt • Oct. 1, 2008
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    MasterCard’s Martina Hund-Mejean

    At first glance, MasterCard’s core business model would seem enviable: it collects a fee on every payment it processes. But while Martina Hund-Mejean, who became CFO last year, appreciates “the high profitability of this sector,” she’s quick to add a cautionary note: “We can never put our head in...

    By Avital Louria Hahn • Oct. 1, 2008
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    Leaving Home

    After 25 years at General Electric Capital Corp., Keith Helming was ready to fulfill his career goal and become a public-company CFO — even if it meant relocating. So in 2006, he moved across the Atlantic to become the finance chief of Aercap, an Amsterdam-based aviation lessor. Then owned by a p...

    By Kate Plourd • Oct. 1, 2008
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    Enron: Another Final Chapter

    Former Enron shareholders got a little payback last month when a federal judge approved the distribution of $7.2 billion in settlements. Like so much else about Enron, the case is historic, representing the largest settlement ever in U.S. securities litigation, according to the Securities Class A...

    By Stephen Taub • Oct. 1, 2008
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    Can Ex-CFOs Save Freddie & Fannie?

    When Treasury Secretary Henry Paulson orchestrated the government’s historic takeover of Fannie Mae and Freddie Mac, he tapped two ex-CFOs to head up the struggling government-sponsored enterprises. Herbert Allison will be in charge of Fannie Mae, while David Moffett will be the top executive at ...

    By Stephen Taub • Oct. 1, 2008
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    Critics Call Out Bailout Plan’s Exec-Pay Provisions

    The bill to allow the federal government to bail out financial institutions laden with toxic debt included a compensation rule that would have elevated finance chiefs to the same “covered executive” status as CEOs, disallowing tax deductions on portions of their pay. The bill was voted down by ...

    By Alan Rappeport • Sept. 29, 2008
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    The Bailout Proposal Is Vague on Exec Pay

    As lawmakers promised, the discussion draft of the proposed bailout bill now making its way through Congress contains tough talk about compensation limits covering the top five executives at financial firm that sells distressed assets to the government. But it is a very unspecific sort of talk.No...

    By • Sept. 29, 2008
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    Wall Street Wallets to Get Whacked

    Even when Wall Street is down, the bond sellers and other revenue producers still have to get paid. For 2008, though, financial-services firms are expected to decrease bonus pools by 40 percent to 50 percent from last year. Since the bonus represents the vast majority of annual income for most of...

    By • Sept. 26, 2008
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    Rite Aid Hires a CFO; Recalls Another as COO

    Rite Aid named a new finance chief and brought a former CFO back as its president and COO in a shake-up of its executive suite. It also reported a $222-million quarterly loss, three times the year-ago deficit, and wider than analysts had forecast.As president and chief operating officer, Rite Aid...

    By Stephen Taub • Sept. 25, 2008
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    CFOs on the Move: Week Ending September 26

    • Sallie Krawcheck, the head of Citigroup’s Global Wealth Management operation and the company’s former CFO, is the latest of many senior-level departures from Citi. She was said to be leaving to pursue other opportunities. • The online brokerage E-Trade has named former Pitney Bowes CFO Bruce ...

    By Gabor Taroczy and Kate Plourd • Sept. 25, 2008
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    Bailout Hinges on Exec Comp Accord

    How the executives of financial services firms that take part in any government bailout are paid is hardly the most important element of the legislation Congress is fast-tracking this week. But given the issue’s political clout, it’s looking almost certain that legislators will have to come to so...

    By • Sept. 24, 2008
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    Citi Says So Long to Sallie

    Former prominent Citigroup CFO Sallie Krawcheck, the bank’s head of Global Wealth Management, is leaving the company in the latest of many departures of high-ranking Citi executives. Krawcheck was CFO of Citigroup from 2004 to 2007. In 2007 she left her position to take over the bank’s Wealth Man...

    By Kate Plourd • Sept. 22, 2008
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    Options: Swimming Under Water

    The extreme volatility in the stock market likely will nudge some companies toward further reducing the weight of stock options in their compensation portfolios for senior executives.Once virtually the sole compensation tool for motivating performance, options already had declined in importance o...

    By • Sept. 19, 2008
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    CFOs on the Move: Week Ending September 19

    Denver-based telecom company Qwest Communications hired the former finance chief of XM Satellite Radio to as its CFO.The appointment of Joseph Euteneuer, 53, is the latest move in Qwest’s executive reshuffling, engineered by CEO Ed Mueller, who took the reins in August 2007. Euteneuer replaces J...

    By Kate Plourd and Gabor Taroczy • Sept. 18, 2008
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    New AIG Chief Liddy Has Finance in His Blood

    In choosing Edward Liddy as the new CEO of American International Group, federal regulators once again show a partiality in a crisis for leaders with strong finance backgrounds. Liddy, most recently with private equity giant Clayton, Dubilier and Rice Inc., first established his reputation as fin...

    By Stephen Taub • Sept. 17, 2008
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    Where Will All the Bankers Go?

    The tidal wave of bad finance news is freezing credit availability and battering investment portfolios, but a more human toll is almost certain to follow.In the financial services sector, which already has pared more than a quarter-million jobs since the beginning of 2007, new rivers of displaced...

    By • Sept. 17, 2008
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    Quest Axes CFO It Had Put on Leave

    The CFO who was put on leave last month by Quest Resource Corp. and two related master limited partnerships — Quest Energy Partners L.P. and Quest Midstream Partners L.P — has now been fired. David Grose was “terminated,” the company said, noting that an investigation of questionable transfers of...

    By Stephen Taub • Sept. 16, 2008
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    Qwest Dials Up Former XM Finance Chief

    Qwest Communications International hired the former finance chief of XM Satellite Radio to serve as CFO of the Denver-based telecom company.The appointment of 53-year-old Joseph J. Euteneuer is the latest move in Qwest’s executive reshuffling, engineered by Qwest CEO Ed Mueller, who took the rein...

    By Kate Plourd • Sept. 15, 2008
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    WaMu CEO Brings in Old Finance Friend

    Washington Mutual’s new chief executive officer, Alan Fishman, has brought in a finance expert he has been working with since the beginning of the decade to help him manage the struggling savings and loan.According to The Wall Street Journal, WaMu has tapped Frank Baier to serve as special assist...

    By Stephen Taub • Sept. 12, 2008
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    GAO to PBGC: What’s Happening?

    With 53 days left before voters decide who will be the next President of the United States, the Pension Benefit Guaranty Corp., like other government agencies, is already preparing for the change to new leadership.To ensure smooth sailing for the PBGC’s new governing board that will come with Jan...

    By Kate Plourd • Sept. 12, 2008
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    Work-life: A Bottom-line Boon?

    While programs offering work-life flexibility for employees have been a staple of public accounting firms’ recruiting and retention efforts, other companies could learn from their example — and not just to shore up their staff. The bottom line may benefit, too.That, at least, is the conclusion of...

    By • Sept. 11, 2008
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    CFOs on the Move: Week Ending September 12

    On September 15, Peter Hamilton will once again become CFO of Brunswick Corporation, replacing Peter Leemputte, who is leaving to be finance chief at Mead Johnson Nutritionals. Hamilton previously ran finance at Brunswick from 1995 to 2000 before moving to operations side, where he served as pres...

    By Kate Plourd and Gabor Taroczy • Sept. 11, 2008
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    Report: Double-Digit Spikes in Health Costs

    A new survey on future health-care costs projects double-digit rate increases for the most popular types of health-care coverage through the remainder of 2008 and into 2009. This study, by human-resources firm Buck Consultants, analyzed responses from 79 health insurers, HMOs, and third-party adm...

    By Stephen Taub • Sept. 11, 2008
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    A Mom’s Hard Career Choice

    For a woman in finance, dreams of one day being a CFO can go “poof” when the real-life demands of motherhood dawn. Some women see an unhappy choice: continue climbing the ladder, or be a good mom.Diana Truss was 43, and loving her professional life as a controller for a $30 million machine-tools ...

    By • Sept. 9, 2008
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    Wachovia Names Zwiener as CFO

    Wachovia reached outside its corporate offices to tap David K. Zwiener as its new chief financial officer. Zwiener, who has more than 30 years of experience in the financial services industry, was most recently managing director and co-head of the Financial Institutions Group at The Carlyle Group...

    By Stephen Taub • Sept. 9, 2008