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CFOZone Experts

Opinions and views from expert CFOZone members.

Tag >> CFOs
Oct 04
2010

Retail CFOs: It's jobs, stupid

Posted by Stephen Taub in unemploymentjobsDealsChallenger Gray & ChristmasCFOsCashCareers/ManagementBDO USA

Stephen Taub

It's all about the jobs.

Add chief financial officers of retail firms to the long list of experts who believe the economy will continue to muddle along until the unemployment rate comes down.

Aug 03
2010

Lower-level finance salaries outpace CFOs’

Posted by mcole in salarycompensationCFOsCareers/ManagementbonusesAssociation for Financial Professionals

mcole

Salaries of financial executives and their staff continued to outpace national averages in 2009, and raises were also larger than other white-collar professionals. But the pay of lower level finance professionals outpaced those of CFOs and other senior-level types.

Average annual salaries for financial professionals increased by 2.5 percent in 2009 and were 13 percent above the national average, according to the Association for Financial Professionals' 2010 compensation survey.
But like other workers, CFOs, treasurers and their staff also enjoyed smaller salary growth than what they had been used to. The average salary increase for financial professionals in 2009 was a full percentage point below the average increase reported in 2008. Salaries went up 3.4 percent in 2008 and 4.5 percent in 2007.

Jul 30
2010

CFOs more pessimistic, cautious about spending

Posted by Stephen Taub in Financial Executives InternationalFEICFOsCashCareers/Managementcapital expendituresBaruch College's Zicklin School of Business

Stephen Taub

The Federal Reserve recently reported that nonfinancial companies had $1.84 trillion in cash and other liquid assets as of the end of March, up 26 percent from the prior year and the largest sum since 1952, when these kinds of records began to be kept.

So, various interest groups have been urging companies to spend this money-on dividends, buybacks, acquisitions, additional employees.

Jul 19
2010

Shopaholic CFO agrees to felony charges

Posted by Going Concern in embezzlementcomplianceCFOsCareers/ManagementauditingauditAccounting

Going Concern

Submitted by Caleb Newquist, republished from Going Concern, Accounting News for Accountants and CFOs.

Late on Friday, it was reported that Sue Sachdeva will plead guilty to six felony counts in the Koss embezzlement case that was discovered at the end of last year.

Jul 13
2010

Angeion CFO fired for mysterious reasons

Posted by Going Concern in financial statementsfinancial reportingCFOsCFO resignationsCareers/ManagementC-level executives

Going Concern

Submitted by Caleb Newquist, republished from Going Concern, Accounting News for Accountants and CFOs.

Anyone that is in St. Paul/Minneapolis (ideally Baker Tilly Virchow Krause employees) should get in touch with us because this reeks of bad behavior that we absolutely must know about:

May 26
2010

The benefits of being a mentor

Posted by dbedell in risk managementfinancial professionalsCFOsCareers/Management

dbedell

There are countless famous examples of successful business mentoring relationships and the benefits that can be gleaned from such a partnership. 

JP Morgan Chase CEO Jamie Dimon was mentored by former Citi CEO Sandy Weill. Dimon went on to act as a mentor to Heidi Miller--CEO of JP Morgan’s Treasury & Securities business, Charlie Scharf--CEO of Retail Financial Services at JP Morgan Chase and a director on Visa’s board, and Michael Cavanagh—JP Morgan’s CFO.

May 22
2010

Ambercrombie CFO defies the CW

Posted by Going Concern in investor relationsfinancial professionalsearningsCFOsCFOCareers/Management

Going Concern

Submitted by Jonah Bloom, republished from Going Concern, Accounting News for Accountants and CFOs.

Jonathan Ramsden has been Executive Vice President and Chief Financial Officer of Abercrombie & Fitch since December 2008 and is a key part of a team trying to guide the retailer's global expansion while managing something of a remake of its domestic operations. Going Concern caught up with him recently to find out how he sees A&F's business and what else is on his mind.

May 20
2010

Unemployment's long-term impact

Posted by Stephen Taub in unemploymentforecastingCFOsCashCareers/Managementbudgeting

Stephen Taub

From a macro standpoint, I have never been as concerned about the high unemployment rate as other people since many other economic metrics have been showing encouraging improvement for months...until now.

Thursday's surprising surge in new unemployment claims and the New York Times front page article confirming what we all thought we knew-that this is the worst job market for teachers since the Great Depression-is starting to change my thinking. Anecdotally, it also doesn't help to know that all--ALL--of my daughter's friends who graduated from college one year ago are enrolled in graduate school for the upcoming fall semester after spending a year of mostly under-employment or attending school.

May 11
2010

Companies defying SEC's XBRL mandate

Posted by Going Concern in Securities and Exchange CommissionRegulationfinanacial reportingfilingscomplianceCFOsAccounting

Going Concern

Submitted by Caleb Newquist, republished from Going Concern, Accounting News for Accountants and CFOs.

 It has been well established in these pages and elsewhere that the SEC has had its share of problems. Take your pick: 1) missing the biggest financial fraud in the history of the world 2) hiring an army of porn-addicted accountants and lawyers to protect our markets 3) waffling on IFRS 4) did we mention missing huge frauds?

May 07
2010

Reflections on the crisis

Posted by MQuinn in Riskentrepreneurshipcrisiscorporate financeCFOsBanking

MQuinn

Today is my last day at CFOZone. I'm heading to Inc.com to cover the world of small businesses and entrepreneurs.

I've always joked that throughout my career I've left a trail of destruction. Right out of undergrad, I worked on Wall Street briefly. The year was 1999 and I worked for the online brokerage firm TD Waterhouse. Remember those days? Everybody was a trader. Retail money was flowing into companies like TD and E*Trade. I left in early 2000. We all know what happened shortly after that.

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