View from Asia: What’s Old about ”New” Japan?

In Japan, businessmen share a passion for golf. So naturally, Shunsuke Takeda, the CFO of financial-services group Orix, turns to the sport to describe his beliefs about corporate governance. “You can own the most sophisticated, highly engineered clubs,” he says, “but the only thing that matters ...

By Tom Leander • Jan. 4, 2006

Independence Air to Shut Down Operations

Independence Air has been grounded.Citing financial difficulties, FLYi Inc. — the corporate parent of the upstart, low-fare airline — announced that it will discontinue all scheduled flights after 7 p.m. on Thursday, January 5.The company, which filed for bankruptcy protection in November, added ...

By Stephen Taub • Jan. 3, 2006

Explore the Trendline➔

Tax policy shifts: What CFOs need to know to stay ahead

Discover how evolving tax policies are creating new opportunities and challenges for CFOs.

By CFO.com staff

Simplicity Is Golden

It’s not all fun and games in the amusement-park business.Just ask Gary Neveras. As senior director of financial planning analysis at Universal Orlando, Neveras is responsible for tracking and forecasting the numbers on more than 1,000 different ventures and projects at the theme park. “We have t...

By John Edwards • Jan. 3, 2006

International Rectifier’s Mike McGee

You think your commute is long? Don’t complain to Mike McGee. For five years (2000–2005), McGee served in two executive capacities: as CFO of International Rectifier, an El Segundo, California-based power semiconductor company, and as co-CEO and chairman of Nihon Inter Electronics Corp. in Japan....

By Lori Calabro • Jan. 1, 2006

The Lowdown

Energy prices, higher interest rates, and the potential for inflation continue to fuel concern among CFOs about the prospects for the economy. According to the Duke University/CFO Business Outlook Survey, just 32 percent of finance chiefs are growing more optimistic about the direction of the U.S...

By Joseph McCafferty • Jan. 1, 2006

Planning and Decision Making: Out of Sync?

Companies that develop their strategy continuously average more than twice as many major business decisions each year as do companies that go through the familiar annual planning process.That’s one major finding of a new survey of 156 senior executives at companies worldwide with sales of at leas...

By Dave Cook • Dec. 29, 2005

Sitting Tight: The 2005 Capital Spending Scorecard

After two years of decline, U.S. companies increased their capital spending modestly in 2003 and 2004, but the amount is still sharply lower than its peak in 2000. Petrochemical companies led the rebound, investing billions to upgrade old refineries and increase capacity, while the electronics an...

By Ronald Fink • Dec. 29, 2005

IASB Names Replacement for Volcker

Tommaso Padoa-Schioppa, a founding member of the Executive Board of the European Central Bank, will replace former Federal Reserve chairman Paul Volcker at the helm of the foundation that oversees the International Accounting Standards Board, effective January 1.Sir David Tweedie, IASB’s chairman...

By Stephen Taub • Dec. 27, 2005

Days of Wine and Mergers

In 1985, legendary wine critic and industry shaker Robert Parker did something he had never done before: he gave a bottle of California wine a 100 rating. The perfect score went to a 1985 Reserve Cabernet Sauvignon produced by a struggling start-up, Groth Vineyards & Winery. In Napa Valley, t...

By John Goff • Dec. 27, 2005

View from Europe: Crossing the Atlantic

In 1967, Le Defi Americain (The American Challenge) shot up the best-sellers’ list in France. Its author, the flamboyant intellectual Jean-Jacques Servan-Schreiber, predicted that a growing number of U.S. multinationals crossing the Atlantic would use their superior management techniques, technol...

By Janet Kersnar • Dec. 27, 2005

Senate Approves $40 Billion Budget Cut

The Senate approved $39.7 billion in spending cuts after Vice President Cheney rushed back from a trip to the Middle East to cast the tiebreaker in a 51-to-50 vote.Five Republican senators voted against the measure, according to published reports.The bill now returns to the House, which passed a ...

By Stephen Taub • Dec. 21, 2005

The Role of Regulation in Strategy

For companies in many nations, regulatory policy increasingly shapes the structure and conduct of industries and sets in motion major shifts in economic value. In network industries such as airlines, electricity, railways, and telecommunications, as well as in banking, pharmaceuticals, retailing,...

By The McKinsey Quarterly • Dec. 14, 2005

How to Cope with Too Much Growth

There are few more self-evident financial truisms than the assertion that growth is a good thing for a company. But for a small business just getting started, an overwhelming amount of it can present problems. That’s what happened to John and Kira’s Jubilee Chocolates, a private Philadelphia comp...

By Lisa Yoon • Dec. 13, 2005

U.S. Productivity Up 4.7 Percent in Q3

U.S. nonfarm productivity grew 4.7 percent in the third quarter, revised upward from an earlier estimate of 4.1 percent, the Department of Labor reported.One reason for the improvement: Labor costs fell 1.1 percent during the third quarter after dropping 0.9 percent during the prior three months,...

By Stephen Taub • Dec. 6, 2005

What’s My Metric? Drug-Company CFOs

(Editor’s note: This is the first in a continuing series of articles that seeks to unearth “the metrics behind the metrics.” Rather than cover the numbers that most concern the broad range of finance chiefs — earnings or p/e ratios, for instance — each story will discuss the unique financial gaug...

By David Katz • Nov. 29, 2005

Scaling COSO by Company Size

A recently released exposure draft by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) may have been designed for smaller businesses, but it has applications for larger companies as well.Chuck Landes, vice president of the professional standards groupfor the American In...

By Helen Shaw • Nov. 28, 2005

Intelligence Gets Smarter

Cendant Hotel Group, one of the world’s largest lodging franchisors, licenses more than 6,300 properties under Travelodge, Super 8, Ramada, and other brand names. To search for rooms and tour packages across this empire, customers can go to the company’s brand Websites or to those of distribution...

By John Verity • Nov. 15, 2005

Company Size More Important to VCs

Venture capitalists are increasingly investing in larger, more-established companies, according to data published by the National Venture Capital Association and reported by the The Wall Street Journal.In the third quarter of this year, half of all venture financing went to bigger, later-stage co...

By Stephen Taub • Nov. 9, 2005

Who’s Got the Edge?

As CFO of Taiwan Semiconductor Manufacturing Corporation (TSMC), Lora Ho is no stranger to business cycles. Every few years, her industry is tossed violently from peaks of stretched production lines and handsome profits to troughs of bleak inactivity and desperate losses. But just because the sem...

By Justin Wood • Nov. 9, 2005

The Kids Are Alright

Add the word “student” to an innocuous activity, and very quickly you might have cause for concern. Think of the student driver merging into your lane, or the student barber asking just how short you’d like it.Now try this one: “student business consultant.”The idea may seem quaintly civic-minded...

By Lisa Yoon • Nov. 8, 2005

The Hidden Wealth of the Poor

In rich countries, financial services on the whole work remarkably well, despite the exotic salaries, the crackpot deals and the occasional bust. The vast majority of people have access to interest-bearing savings accounts, mortgages at reasonable rates, abundant consumer credit, insurance at pre...

By Tom Easton • Nov. 8, 2005

Airline Fails; Private Jets Soaring

Soaring prices for jet fuel have pushed yet another commercial airline into bankruptcy: Independence Air. The discount airline and its corporate parent, FLYi Inc., announced Monday that Independence would file for bankruptcy.Reuters reported that Dulles, Virginia-based Independence has been hit e...

By Stephen Taub • Nov. 7, 2005

Retailers Report Promising Sales

It seems as if consumers are comfortable with opening their wallets, which bodes well for the overall economy. A large number of retailers have reported very strong October sales, beating not only revenue forecasts but same-store estimates as well. As a positive influence on sales, The Wall Stree...

By Stephen Taub • Nov. 3, 2005

View from China: Less Admiration for U.S. Business

China’s financial community is experiencing a subtle but powerful shift in perceptions about the United States. Two recent events have eroded what had been a grudging admiration for American capitalism. The first is the uproar over last summer’s failed effort by China National Offshore Oil Corp. ...

By Wu Chen • Nov. 3, 2005

Is This Any Way to Run a Railroad?

As Marx Brothers movies go, Go West isn’t much. The aging comedy team was running out of ideas, and it shows: the plot is predictable and the gags are stale. Yet there is one memorable scene in the 1940 film. In it, the boys — desperate to keep a steam-powered locomotive chugging along — feed the...

By John Goff • Nov. 2, 2005