January 2010 - Posts
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Will spreadsheet-management software ever catch on? Tiny details can have large impacts. Just as the proverbial kingdom was lost for want of a nail, so a finance chief could find his job in jeopardy as a result of a mistake in a spreadsheet cell. The...
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Madison Square Garden, Gladstone Investment, Solveras Payment Solutions, CareCloud, Infinera, SouthWest Water, ANTs Software, United American Healthcare, DDi, Rypos. Robert Pollichino has been promoted to CFO of Madison Square Garden . Pollichino previously...
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Suspecting that the president wants to revive bonus depreciation, equipment lenders hail a reference in the State of the Union address. Heartened by a line in President Obama's State of the Union address Wednesday night, leaders of the Equipment Leasing...
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Good news for ambitious CFOs: companies that promote insiders to CEO produce better returns than those that recruit outsiders. While boards of directors tend to seek sitting chief executives to fill CEO vacancies, new research from Rice University suggests...
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The regulator is preparing to release guidance on how companies should reveal their climate-change risks. New guidance from the Securities and Exchange Commission will prompt companies to reexamine how they explain the effects of climate change on their...
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As Canada prepares to adopt international accounting standards in 2011, accounting concerns share center stage with technology issues. With international financial reporting standards set to become the new accounting regime in Canada on January 1, 2011...
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A new proposal from the IRS could force companies to reveal more details about uncertain tax positions. The Internal Revenue Service is proposing new regulations that would require companies to disclose significantly more information about uncertain tax...
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With the Dow cresting 10,000, the trend to slice executive salaries seems to be waning. A number of firms that cut executive salaries in 2008 or 2009 are in the process of reinstating them, according to a recent report by Equilar, an executive compensation...
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The rise in fraud related to Automated Clearing House payments puts businesses and their banks at risk. Thieves rob $1.3 million from a property-management firm by initiating debits against its accounts using banking information pilfered from a painting...
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Wells Fargo's refund claim on 26 leveraged lease deals did not pass muster in tax court, and the company was "condemned" for having the audacity to go forward with such abusive shelters. Wells Fargo & Company claimed $115,174,203...
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Expect more footnotes this annual-report season, as FASB releases its new rules on fair-value disclosures. As promised by standard setters, fair-value accounting rules are coming more into focus this year. Yesterday, the Financial Accounting Standards...
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More and more companies are looking overseas for growth and outsourcing opportunities. With a so-so U.S. economy expected in 2010, many companies are looking abroad for high-growth markets and low-cost outsourcing locations. China and India are still...
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Linden Lab, Coinstar, Digital Power, Intelligrated, Central Garden & Pet, CardioNet, Peabody Essex Museum, Aprimo. Bob Komin has been named to head finance at Linden Lab, creator of virtual world Second Life. He comes to the company from solar-energy...
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When King Arthur Flour went looking for a CFO, it didn't take a cookie-cutter approach. Wanted: a CFO who can go toe-to-toe with a CEO in a confident, constructive way. One who sees compatibility between long-term profit . . . and kindness. . . ....
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A new software offering has the potential to automate finance benchmarking. Benchmarking a company's finance processes has long been a source of frustration for CFOs. Although firms like APQC and Hackett Group can supply benchmarks for a corporate...
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Should House Democrats decide to pass the Senate bill on health-care reform intact, what would the cost be for employers? While Democrats reconsider their options to pass health-care reform legislation in the wake of Massachusetts Republican Scott Brown's...
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The long soft market in insurance has been good for CFOs, but hard on agents and brokers. In a topsy-turvy financial world, commercial insurance premiums have kept on a steady downward course. The trend continued in the fourth quarter of 2009, with prices...
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FASB issues new guidance why some dividends must be treated like a stock issuance when shareholders have a choice between stock and cash distributions. Many real estate investment trusts (REITs), and certain regulated investment companies (RICs), as a...
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Issuance of corporate lines of credit sinks to its lowest level since 1993. New issuance of syndicated, revolving lines of credit dropped 28% by dollar volume in 2009, according to data from Reuters Loan Pricing, as companies shifted their sources...
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Bank of America, Benihana, Teleflex, Aureon Laboratories, Tecumseh Products, Oberon Media, Interline Brands, Silverleaf Resorts, Efficient Frontier, athenahealth. Bank of America Corp. CFO Joe Price has a new job: as of February 1, he will be president...
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The SEC hopes that new cooperation agreements will entice fraud witnesses to come forward. Witnesses to securities fraud have had little incentive to tattle on their errant co-workers — or accomplices, as the case may be. Coming forward, after all...
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What does it take for CFOs to cross industry lines these days? Chris Liddell, the newly installed General Motors CFO, could be the poster boy for the portability of finance skills. Coming from tech giant Microsoft, Liddell has a sterling reputation but...
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Buyout funds larger than $4.5 billion lost 31.4% over one year and 3.1% over three years, raising caution among investors, says Preqin. Large companies looking to be scooped up whole by financial sponsors may find fewer bidders with the necessary...
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Employers are investing in ways to contain healthcare costs, but few know what they're getting back. While employee health improvement programs have become more and more popular as a way to contain firms' healthcare costs in recent years, very...
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Strategic change management heads a new ranking of risk hot spots. After the economic turmoil of 2009, CFOs could be forgiven for trying to relax a bit. But the new year will offer plenty of reasons to stay awake at night, according to a new survey by...
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