Human Capital: Page 98

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    Breaking from the Bank

    Does a CFO’s office befit someone who drives a Buggati Veyron or Mercedes-Benz SLR McLaren and smokes $400 cigars?More than 50,000 employees could be culled from Wall Street firms in 2008, as many as 7,000 from investment bank Bear Stearns alone. And it’s more than a little bit likely that some o...

    By • April 10, 2008
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    Obesity Weighs on Bottom Line

    The rising rate of obesity in the United States is significantly trimming corporate profits, according to a new study from The Conference Board.Obese employees are said to cost private employers an estimated $45 billion annually in medical expenditures and work loss. “Employers need to realize t...

    By Stephen Taub • April 10, 2008
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    Perfomance-Pay Disclosure: Is the Honeymoon Over?

    Will companies that play fast and loose with the Securities and Exchange Commission’s rules for disclosing executive pay begin to feel the lash of the SEC this year?Indeed, there’s evidence that some employers may be feeling the pressure already. Proxy season is here, and this year more companies...

    By • April 9, 2008
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    CFO Climbs into Vice Chair Spot

    Mark C. Biderman, executive vice president and chief financial officer of National Financial Partners Corp., has been promoted to the newly created position of vice chairman. As a result, the company, which announced a series of promotions and management changes, has launched a search for a new C...

    By Stephen Taub • April 8, 2008
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    The Truth about Headhunters

    When the phone rings and it’s a headhunter on the line, your first thought is probably not “What is this person’s business model?” Whether this is the right time to look into a job opportunity and, if so, whether this particular one could work for you, are understandably top of mind.But the way a...

    By • April 7, 2008
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    Areva’s Alain-Pierre Raynaud

    When a company gets caught up in drawn-out merger manoeuvres, it’s often tempting for their CFOs to put growth and investment plans on hold until the deal is sealed. Not so for Alain-Pierre Raynaud, CFO of Areva, France’s €12 billion state-owned nuclear energy company. The proposal to merge Areva...

    By Eila Rana • April 7, 2008
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    Fall Guys

    Ever had to dodge the crossfire between a CEO and chairman? If not, the case of John Williamson, finance chief of Payzone — a company borne out of a reverse takeover in December last year of UK ATM operator Cardpoint by Alphyra, an Irish e-payments group — will shed some light. Since he left the ...

    By Laura Cameron • April 7, 2008
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    Qwest CFO Hangs It Up

    Qwest Communications CFO John Richardson will leave his post after just a year, becoming the latest executive to depart under Ed Mueller, the firm’s new chief executive who joined last August.Richardson, 63, will stay on until a replacement is found, the company said Friday. “We believe that, in ...

    By Alan Rappeport • April 7, 2008
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    Rooms to Grow

    When travelling to Moscow on business, be sure to make full use of the hotel concierge. In fact, with the price of a hotel room in the Russian capital approaching €350 a night, on average, take advantage of every amenity that you can.Hotel rates in Moscow have risen 93% since 2004, making it the ...

    By Laura Cameron • April 7, 2008
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    Constructive Confrontation

    From the safe haven of retirement, Bob Bennett, former finance director of Northern Rock, recently admitted that there were tensions between him and then CEO Adam Applegarth during the six years they worked together at the UK bank.Bennett, who retired in January 2007, told UK media this February ...

    By Eila Rana • April 7, 2008
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    Orthofix CFO Quits after Five Months

    Orthofix International CFO Timothy Adams has resigned less than five months after taking the position, the company announced Friday. Shares of the orthopedic-products company took a big hit from the unexpected announcement, down about 25 percent in late-Friday trading.No reason was provided for t...

    By Stephen Taub and David McCann • April 4, 2008
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    The $180 Million CFO?

    Talk about earning your pay from the first pay on the job. Shares of MF Global surged nearly 15 percent Thursday, one day after the brokerage named J. Randy MacDonald as its new CFO.That works out to a better than $180 million gain in the company’s market capitalization. Niamh Alexander, an ana...

    By Stephen Taub • April 3, 2008
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    CFOs on the Move: Week Ending April 4

    • Barry Zwarenstein, the CFO of VeriFone Holdings, resigned after an audit committee investigation into inventory accounting errors forced the company to restate results for prior periods. The company said it is searching for a new CFO. • A finance team shake-up at Westmoreland Coal Co. has br...

    By Kate Plourd and Laura Cameron • April 3, 2008
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    Westmoreland Finance Department Upended

    Westmoreland Coal Co. has announced a shake-up in its corporate finance ranks, starting with the departure of its CFO and the appointment of a replacement. The changes come amid a Securities and Exchange Commission investigation into accounting errors, although it is not clear if the events are l...

    By Marie Leone • April 2, 2008
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    The CFO Is In: Peanuts Licensor Names New Execs

    The E.W. Scripps Company, the media conglomerate that is splitting in two in July, has named two company veterans to the chief financial officer spots. Timothy E. Stautberg will become CFO and a senior vice president of E.W. Scripps when the separation is complete. He will succeed Joseph G. NeCas...

    By Stephen Taub • April 2, 2008
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    Finding a Job in Lean Times

    With the economy stumbling, finance professionals seeking new jobs and new challenges are finding themselves in a market that rather suddenly has grown more competitive.Because of the Bear Stearns meltdown and fears that other financial services firms might cut back on staff, a flood of job hunte...

    By Alan Rappeport and David McCann • April 2, 2008
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    The Loan Danger

    See this year’s 401(k) Special Report.The credit crunch has come home to roost in many unlikely places, from the student-loan market to the municipal-bond arena. Here’s another improbable victim: your human resources department. The subprime crisis and its many ripple effects are prompting more f...

    By Randy Myers • April 1, 2008
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    Readin’, Writin’, and ROI

    Tuition-reimbursement plans are often justified by their value in enhancing employee retention and recruitment, but few companies have put that hypothesis to the test. A recent survey of 180 companies conducted by the Corporate University Xchange (CUX) found that nearly half neither measure the i...

    By Kate Plourd • April 1, 2008
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    Keeping It to Themselves

    When the Securities and Exchange Commission sent 350 comment letters to companies last year regarding the requirements for compensation disclosure and analysis, it made it fairly clear that it expects to see better disclosure — including specific performance targets — in this year’s reports. Will...

    By Alix Stuart • April 1, 2008
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    Back to School

    In his first two weeks teaching an introduction to international business class at the University of San Diego, recently retired McDonald’s Corp. CFO Matthew Paull had little trouble explaining how global businesses adapt to local culture, or how the roses that Americans order for Valentine’s Day...

    By Kate Plourd • April 1, 2008
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    KPMG’s Battle of the Sans: It’s Juan over Jose

    The nation’s center of technology, followed by its financial capital, are the costliest cities for operating a business, according to a new survey from KPMG.San Jose, nestled in the Silicon Valley, beat out New York for the title of most expensive among 27 U.S. and affiliated cities/locations wit...

    By Stephen Taub • April 1, 2008
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    Form 1040-SOS

    To say that 2007 was taxing for Jackson Hewitt Inc. and H&R Block is an understatement. Both tax-preparation companies have new CFOs in place after scandals tarnished their results.In January, Daniel P. O’Brien, formerly the CFO at Hawaiian Telecom, Global Crossing, and GTE Corp., assumed the...

    By Kate Plourd • April 1, 2008
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    But He Did Not Violate Sarbox

    While a CFO fraud conviction doesn’t stop the presses these days, former Accent Magazine finance chief Gary Dodds has added a new twist.After a 15-day trial in February, Dodds was convicted of falsifying evidence, causing false public alarm, and fleeing the scene of a car crash. The case stemmed ...

    By Kate Plourd • April 1, 2008
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    Setting Bonus Targets with Hindsight

    Want to create a culture that breeds higher achievers? According to Procter & Gamble CFO Clayton Daley, you might want to forget about setting performance targets for bonuses and, instead, decide what’s fair to pay after all the results are in.The company has been using an unusual, retrospect...

    By Kate Plourd • March 31, 2008
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    Vise on Worker Visas Squeezes Tighter

    American companies looking to hire nonimmigrant workers from overseas to work in specialty fields, including accounting, will have a slimmer chance of obtaining visas because of a change in the H-1B application process that takes effect April 1.Under the policy change, visas will be granted to a ...

    By Kate Plourd • March 28, 2008