Risk: Page 28
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geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
On Boards, Are Women the Fairer Sex?
As corporate governance continues to be hotly debated in the wake of several high profile business scandals, some women executives are pushing for more female board members.That was the topic of a seminar held Tuesday in Waltham, Mass., by the New England Chapter of the National Association of Co...
By Lisa Yoon • April 10, 2003 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Looking Good Isn’t Enough
We’re sure that Priscilla Presley, Alexander M. Haig Jr., and Francis Ford Coppola are valued members of the board of MGM Inc., upon which they all sit, but we wonder what all the new director-independence and financial-literacy requirements will mean for the future of celebrity board members.“I ...
By Kris Frieswick • March 1, 2003 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Corporate Governance
Amid all the hand-wringing about boards of directors, several well-known–and some not so well-known–players in corporate governance have introduced board-ratings systems.Last month, for example, GovernanceMetrics International Inc. was scheduled to launch its GMI Ratings. According to CEO Gavin A...
By Lori Calabro • Dec. 1, 2002 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Executive Indictments
Call it a squeeze play. Prosecutors looking to pin corporate scandals on the top dog often press other executives for information that could prove a case against the CEO in exchange for leniency for the informers. And despite the intense camaraderie most CFOs claim to share with their CEOs, finan...
By Alix Stuart • Nov. 1, 2002 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Laundry Time
Last month former Enron CFO Andrew Fastow was formally charged for his alleged role in the scandal at the bankrupt energy giant. The criminal complaint includes charges of securities fraud, wire fraud, mail fraud, bank fraud, conspiracy, and money laundering.Given the complexity of the alleged cr...
By Joseph McCafferty • Nov. 1, 2002 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Board Games
Former Enron CFO Andrew Fastow is by all accounts a persuasive personality, but that doesn’t explain why Enron’s board of directors failed to raise even the smallest red flag. Not once did it voice an objection to any of management’s accounting practices, according to a Senate subcommittee invest...
By Andrew Osterland • Nov. 1, 2002 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
White-Collar Crime
Early last month, Alan Gauthier was sentenced to five months in prison after being convicted of consumer fraud. The former CFO of Exide Technologies admitted sending the Securities and Exchange Commission a false audit opinion letter involving a scam in which Exide sold defective batteries to ret...
By Joseph McCafferty • Oct. 1, 2002 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Document Retention
A federal district court judge in Arkansas ordered sanctions against Cooper Tire & Rubber Co. earlier this year for destroying documents related to a product-liability case. Although the documents were shredded in accordance with the company’s existing document-retention policy, the judge rul...
By Joan Urdang • Oct. 1, 2002 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Transatlantic Answers
Politicians, regulators, and corporate executives in the United States can be downright chauvinistic about the American way of doing business. Indeed, during the 1990s, many U.S. executives crowed about the superiority of their free-market system. Conversely, others privately belittled certain co...
By Craig Schneider • Oct. 1, 2002 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Ethics: Good for Goodness’ Sake
Three years ago, when CFO magazine surveyed 500 chief executive officers about what they thought was most important in a chief financial officer, 84 percent of them ranked personal integrity just behind financial expertise. Evidently, CEOs were hungry to hand over the financial reins to a few hon...
By Jeffrey L. Seglin • Oct. 1, 2002 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Ethics
The problem with codes of ethics is that the people who need them most don’t use them. But that hasn’t stopped two prominent organizations for finance and investor-relations professionals from recently reworking their codes of ethics.In the wake of major ethical lapses at Enron and Andersen, the ...
By Kris Frieswick • July 1, 2002 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Whose Company Is It, Anyway?
Today, executives at the New York Stock Exchange announced new rules for improving corporate governance for NYSE-listed companies. The proposal, which still must be approved by the Securities and Exchange Commission, requires companies on the exchange to maintain a majority of independent directo...
By Jennifer Caplan • June 6, 2002 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Bad Sign
Fraud comes in all sizes. In late February, a former Bear, Stearns & Co. secretary pleaded guilty to using disappearing ink to make more than $800,000 fade from her boss’s bank accounts, according to an Associated Press report. Anamarie Giambrone used the trick pen to write checks for senior ...
By Marie Leone • April 1, 2002 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Membership Has No Privileges
In 16 years of professional basketball, Julius Erving never had trouble controlling the boards. As a member of the New Jersey Nets, and later the Philadelphia 76ers, Dr. J dominated the glass with his sweeping offensive rebounds and above-the-rim acrobatics.These days, Erving may not have such an...
By Marie Leone • Feb. 28, 2002 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Families in the Boardroom: Under the Influence
The conflict has turned decidedly nasty. Walter Hewlett, son of one of the founders of Hewlett-Packard (HP) and a member of the company’s board, missed a board meeting in July that discussed a proposed merger with Compaq Computer. Why was he not there? Because, reported CNET News, an online servi...
By Economist Staff • Nov. 16, 2001 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
The Corporate Connection
Last summer, Panamanian officials acting at the request of the U.S. Customs Service seized a Bell model 407 helicopter belonging to Victor Carranza, a Colombian who, according to U.S. and Colombian investigators, has ties to both drug traffickers and the Colombian right-wing paramilitaries who of...
By Tim Reason • March 1, 2001 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Shadow of a Doubt
In the spring of 1999, when the Securities and Exchange Commission needed a staff accountant in its enforcement division, Douglas Boe figured he was the man. Then 37 and an assistant controller in a division of Hughes Electronics Corp., Boe had an impeccable finance pedigree: a BS and an MS in ac...
By Stephen Barr • Feb. 1, 2001 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Firestone’s Credibility
Can Firestone bounce back from its current woes and restore its badly damaged credibility? Risk management experts suggest that if the company accepts blame and fixes its current problems, there’s hope for the future. But it won’t be easy.Since August, Firestone has been in the spotlight, recalli...
By Michelle Gabrielle • Dec. 20, 2000 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Standing By “Chainsaw Al”
It appears that Russell Kersh is standing by his man. During the infamous, iron-fisted reign of Albert “Chainsaw Al” Dunlap as chief executive, Kersh served as Sunbeam Corp.’s vice chairman and CFO. Boasting of his exploits during the company’s meteoric rise, Kersh, who also acted as Dunlap’s hen...
By Lisa Yoon • Nov. 30, 2000 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Honestly, Now
Have you ever been in the middle of an ethical dilemma at work and asked yourself, “I wonder what Abe Lincoln would have done?” Craig Gilbert has–often enough to have documented his thoughts in a course book entitled Honest Abe Teaches CPA Ethics.Gilbert grew up in Springfield, Ill., in the shado...
By Leslie Schultz • Nov. 1, 2000 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Jailhouse Shock
Cosmo Corigliano will likely wake up behind bars this month as a result of his role in inflating the earnings of CUC International Inc.–misstatements that came to light after CUC merged with HFS Inc. in 1997 to form Cendant Corp. The 40-year-old former CFO pleaded guilty to two counts of fraud in...
By Tim Reason • Sept. 1, 2000 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Book ‘Em
Is there a CFO crime spree under way? Several CFOs made big news this summer not for making their numbers, but for getting them.In July, CFO magazine reported that former CFO Patrick Bennett received a 30-year jail sentence for bilking thousands of investors. His firm, Bennett Funding Group, in S...
By Tim Reason • Aug. 23, 2000 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
The Secret Life of the Big Five
Do some of the Big Five have something to hide? Now with the Securities and Exchange Commission engineering a review of the major accounting firms’ independence, we’ll soon find out.Until the review agreement was reached, the Big Five eagerly wanted to look forward, not back. And it seemed to Lyn...
By Stephen Barr • July 1, 2000 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
A Little Privacy, Please
Like all revolutions, the Internet revolution has a dark side. Along with online shopping and stock trading with the click of a mouse, the Web has brought an invasion of its users’ privacy that only Big Brother could love.And no longer is the threat a futuristic one. DoubleClick, an Internet adve...
By Joseph McCafferty • May 1, 2000 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Emission Incentives
As many U.S. companies fight global efforts to cut greenhouse-gas emissions, a European giant is busy figuring out thecheapest way to get the job done.BP Amoco has piloted a carbon- dioxide emission-trading system among 12 business units for the past year. The pilot has worked so well to coax man...
By Bill Birchard • Dec. 1, 1999
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