Human Capital: Page 91

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    Mandated Paid Leave Coming to Washington, D.C.

    Following the lead of San Francisco, the council of Washington D.C. will require most employers on November 13 to provide paid sick leave to eligible employees working in the district. Under the Accrued Sick and Safe Leave Act of 2008, which was passed by the council in March, employers must pay ...

    By Stephen Taub • Sept. 9, 2008
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    IFRS May Prompt Revamp of Pay Plans

    Companies that adopt international financial reporting standards will need to reexamine their compensation and employee benefit plans. The switchover from U.S. generally accepted accounting principles to IFRS will not only translate into tweaks regarding how companies account for such programs — ...

    By Sarah Johnson • Sept. 8, 2008
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    CFO in Focus: The Company Man

    Steven Fradkin never dreamed of becoming a CFO. The finance chief of Northern Trust, a Chicago-based bank, skipped accounting and finance in college and instead indulged in the liberal arts. But from his perspective, it was the very lack of a careerist mentality that helped him climb the corporat...

    By Alan Rappeport • Sept. 5, 2008
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    False Options

    HOW executives are rewarded is one of the many mysteries of China’s increasingly powerful companies. Unravelling it is important, not least because it should help to explain corporate China’s transformation from a state-controlled to a consumer-driven creature. Research on this question has been ...

    By Economist Staff • Sept. 5, 2008
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    9 Things to Ask Your Future Boss, the CEO

    How to find that great next CFO job? Here is one tactic that you might overlook but should not: Interview your future boss, the CEO, as if he or she were the job applicant, not you.Because when it comes to your career, knowing as much as possible up front about the company and person you might wo...

    By Marshall Krantz • Sept. 4, 2008
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    Health Benefit Cost Hike Is a Drop

    As expected, health benefits costs are predicted to rise next year. However, the increase is estimated to be lower than it has been in a decade, according to a preliminary look at Mercer’s annual survey.According to the benefits consulting company, early survey results indicate that cost growth i...

    By Stephen Taub • Sept. 4, 2008
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    CFOs on the Move: Week Ending September 5

    Levi-Strauss & Co. CFO Hans Ploos van Amstel announced he would resign to pursue other opportunities. The jeans maker’s controller, Heidi Manes, will take over the position temporarily. Van Amstel, who arrived at the company in 2003 and has been CFO since 2005, will remain as a consultant for...

    By Kate Plourd and Gabor Taroczy • Sept. 4, 2008
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    Autorité Des Marchés Financiers’ Michel Prada

    It’s been a rocky home stretch for Michel Prada, who completes his five-year term as chairman of the Autorité des Marchés Financiers (AMF), France’s market regulator, in November. Corporate France, as elsewhere in Europe, has suffered from the global financial downturn triggered by the US’s subpr...

    By Eila Rana • Sept. 3, 2008
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    Snakes & Ladders

    Can a demotion ever be a good thing for an ambitious C-level executive? Anka Reijnen is about to find out. More than a few eyebrows were raised when she announced in the summer that she will step down as CEO of Dutch property firm Nieuwe Steen Investments (NSI) and become its CFO this month.Reijn...

    By Eila Rana • Sept. 3, 2008
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    Expect Another Q4 Finance Hiring Spurt

    For the third straight year, you can expect a fourth-quarter spurt in the hiring of accounting and finance employees in the U.S.Ten percent of CFOs say they plan to expand the size of their teams in the final three-month period, according to the latest survey by employment firm Robert Half Intern...

    By Stephen Taub • Sept. 3, 2008
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    Accounting Folks See Healthy Raises

    In general, hard times have American companies holding pay steady and keeping increases in line with inflation, according to a new survey by Hewitt Associates. But accounting, consulting, and legal executives can expect above-average base pay boosts averaging 4.6 percent this year, and also will ...

    By Alan Rappeport • Sept. 2, 2008
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    This Disaster Is No Movie

    The summertime standoff between Hollywood studios and the Screen Actors Guild (SAG) yielded some useful lessons for executives interested in honing their negotiating skills.At press time, SAG was still rejecting an offer from the studios’ negotiating arm, the Alliance of Motion Picture and Televi...

    By Kate Plourd • Sept. 1, 2008
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    Hackers Are Easy, Lawyers…

    Antivirus-software company McAfee has been fighting more than just computer bugs lately. In July, a judge dismissed a lawsuit that McAfee filed against Wilmer, Cutler, Pickering, Hale and Dorr — the law firm that represented former CFO Prabhat Goyal, who was convicted of corporate fraud in May 20...

    By Kate Plourd • Sept. 1, 2008
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    To Get the Best Gig, Expand Your Repertoire

    Having begun his career at United Parcel Service (UPS) three decades ago as a driver, you might expect CFO Kurt Kuehn to know the company inside and out. During his long tenure he has managed such business functions as financial analysis, industrial engineering, and strategic costing for the ship...

    By Kate Plourd • Sept. 1, 2008
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    International Accounting Standards Board Chairman Sir David Tweedie

    (This is an expanded version of the interview that appeared in the September issue of CFO.) Make no mistake: the International Accounting Standards Board is poised to become the world’s accounting-standards setter. When its chairman, Sir David Tweedie, spoke with CFO in late July, rumors were swi...

    By Tim Reason • Sept. 1, 2008
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    Prepare to Be More Accommodating

    The Americans with Disabilities Act, which prohibits discrimination against disabled people in the workplace and at public facilities, will see major revisions this fall that could translate into big changes — and big costs — for businesses as early as January of next year. If current proposals i...

    By Kate Plourd • Sept. 1, 2008
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    Fannie’s Shakeup, and New CFO, Gear for What’s Next

    Fannie Mae’s latest attempt to prepare for its uncertain future involves a major shakeup of its executive ranks — and especially the finance department — and includes replacing CFO Stephen Swad with current senior vice president and controller David C. Hisey.The management upheaval was widely see...

    By Stephen Taub and Roy Harris • Aug. 28, 2008
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    CFOs on the Move: Week Ending August 29

    Fannie Mae’s latest attempt to prepare for its uncertain future involves a major shakeup of its executive ranks — and especially the finance department, including replacing CFO Stephen Swad with current senior vice president and controller David Hisey. Oracle on Wednesday named Jeffrey Epstein...

    By Kate Plourd • Aug. 28, 2008
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    Oracle Picks Jeffrey Epstein as CFO

    Asking Oracle Corp. who its finance chief should be has not always brought an easy answer.Yesterday, Oracle named Jeffrey E. Epstein as executive vice president and CFO, and said that Safra A. Catz, one of its copresidents, will give up the finance chief role while remaining a president and a dir...

    By Roy Harris • Aug. 28, 2008
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    Tech Know-how Brings Career Success, CFOs Say

    Being a successful CFO requires finance and accounting adeptness, but what else is needed? Working familiarity with operations, law, and sales and marketing surely could help — but information-technology expertise trumps all three of those, according to poll results from Robert Half Management Re...

    By • Aug. 27, 2008
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    Is It Time to Switch Industries?

    This year’s job market hasn’t been pretty. Financial services firms have been making thousands of job cuts amid the credit-market slide, and at 5.7 percent, the unemployment rate sits at a four-year high. However, furthering the trend in recent years, finance and accounting workers generally don’...

    By Sarah Johnson • Aug. 26, 2008
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    CFO Quits after Tardy Filing

    Pioneer Drilling CFO Joyce Schuldt has resigned as chief financial officer, 13 months after joining the company. The announcement came just weeks after Pioneer filed its delayed March 31, 2008, quarterly report with the Securities and Exchange Commission. It was unclear, though, whether the late ...

    By Stephen Taub • Aug. 22, 2008
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    Quick Recovery: CFO Is Back in Business

    After spending only three weeks at her last job, Eileen Kamerick has signed on with commercial roofing company Tecta America as executive vice president and CFO.On May 13, Kamerick accepted the CFO position at consultancy BearingPoint, replacing Judy Ethell. But by June 2, Kamerick resigned “base...

    By Kate Plourd • Aug. 22, 2008
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    CFOs on the Move: Week Ending August 22

    • Canadian drugmaker Biovail Corp., charged this year by the Securities and Exchange Commission with revenue reporting violations, announced the appointment of a permanent CFO, effective Sept. 3. She’s Peggy Mulligan, named to succeed interim finance chief Adrian De Saldanha, who has served in ...

    By Kate Plourd • Aug. 21, 2008
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    Court Shoots Down IRS Pension Analysis

    A U.S. Court of Appeals sided with corporations yesterday when it rejected an Internal Revenue Service interpretation of pension plan rules. At issue was whether pension plans that use so-called cash balance formulas violate provisions of the federal Employee Retirement Income Security Act (ERISA...

    By Marie Leone • Aug. 21, 2008