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"The corporate brand is not only used to improve competitive positioning and express company aspirations, it can also be a powerful tool to motivate employees."

CFOZone Experts

Opinions and views from expert CFOZone members.

May 19
2011

Ex-auto parts CFO pleads guilty to conspiracy

Posted by Stephen Taub in fraudconspiracycompliance

Stephen Taub

The former chief financial officer of CSK Auto pleaded guilty to conspiracy to commit securities and mail fraud in connection with a scheme to misstate the company's reported earnings from 2001 through 2006, according to the government.

Don W. Watson Watson admitted that, from 2001 to 2006, he and others conspired to misstate CSK's income by concealing that the company had tens of millions of dollars in vendor rebates that CSK had claimed as income but were never collected.   The rebates were in fact not owed to the company or could not be collected and therefore should have been written off CSK's books.   As a result of the fraud scheme, CSK reported tens of millions of dollars more in pre-tax income than it in fact earned.    

According to the government, CSK misstated its receivables and pre-tax income in its annual reports in fiscal years 2002, 2003 and 2004 by about $10 million, $23 million and $19 million, respectively.

May 18
2011

Employer HC costs to rise 8.5 percent in 2012: PwC

Posted by Stephen Taub in PwChealth careCash

Stephen Taub

Now this is what you can call inflation.

US employers are likely to shell out 8.5 percent more on healthcare costs in 2012 on top of an increase of 8 percent this year, according to an annual report on medical cost trends published by PwC's Health Research Institute.

May 18
2011

The new Internet bubble: Poised to burst?

Posted by annearf in VCRiskLinkedInIPOInternet

annearf

Are we in a new Internet bubble? And will it burst, like the last one?

More to the point, when will it burst?

May 17
2011

Financial restatements rose 7.6 percent in 2010: Study

Posted by Stephen Taub in RiskrestatementscomplianceAudit Analytics

Stephen Taub

The number of financial restatements rose in 2010, after three years of decline, according to a new study from Audit Analytics. The new uptick was driven by non-accelerated filers.

In addition, although the quantity increased slightly, the severity of the restatements remained low, AA stresses.

May 16
2011

Companies want employees healthy, wealthy and wise

Posted by Stephen Taub in wellnessRiskhealthcarehealth insuranceCash

Stephen Taub

A growing number of companies think it is very important that their employees be healthy and plan to do something about this.

A new study from Towers Watson found that three out of four companies said workforce health and promoting health and well-being will be more of a priority this year and next. In addition, 87 percent said it will be a higher priority over the next two to four years.

May 13
2011

Why inflation fears are inflated

Posted by Stephen Taub in inflationConsumer Price IndexCashCareers/Management

Stephen Taub

Inflation? What inflation?

Pundits are fretting that prices are poised to surge out of control. They are partly pointing to Friday's report that The Consumer Price Index increased 0.4 percent in April, pushing up the 12-month rate to a whopping 3.2 percent.

May 13
2011

Is the economic recovery only for big businesses?

Posted by annearf in small businesseconomybig businessbank lending

annearf

The economic recovery, such as it is, has been a big business experience for  a while now, with small companies largely left out of the party.

And there's evidence that's still true.

May 12
2011

The economy's new norm

Posted by Stephen Taub in recessioninflationeconomyeconomic growthCash

Stephen Taub

Is the economy steadily improving or is it at risk to slip back into a recession? Is inflation about to take off or are its fears unfounded?

The answer to these questions is debated daily, depending upon the published stat du jour.

May 11
2011

Employees more committed to 401(k) plans

Posted by Stephen Taub in Riskretirement planretirementdefined contribution plansCashCareers/Management401k

Stephen Taub

Employees are once again ramping up their commitment to their 401(k) plans.

Just 2.4 percent of Defined Contribution plan participants stopped contributing in 2010, compared with 3.4 percent of participants in 2009, according to the ICI's latest quarterly study.

May 10
2011

First quarter earnings beat forecasts by 50 percent

Posted by Stephen Taub in RiskMaterialsIndustrialsenergyDeutsche BankCash

Stephen Taub

It's official: The first quarter was a huge pleasant surprise.

In a report fired off to clients, Deutsche Bank figures with 87 percent of the S&P 500 companies having reported, earnings for the March three-month period surged 18 percent year-over-year. This far exceeded the 12 percent expectation at the beginning of the quarter.

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