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Tag >> Cash
Apr 01

Caterpillar’s supply chain finance program opens door for others

Posted by dbedell in supply chain financeCash


Industrial equipment maker Caterpillar is taking advantage of the Export-Import Bank of the United States’ (Ex-Im Bank’s) new Supply Chain Finance Guarantee to provide receivables financing to its suppliers. The company’s suppliers will have access to as much as $450 million – provided by Caterpillar's bank partner JPMorgan Chase – which is back by a 90 percent guarantee from Ex-Im Bank.

The program from Ex-Im Bank is intended to create greater access to financing for small and medium-sized businesses in the US by supporting SCF programs for export-related receivables. JPMorgan is the first bank to join the program, which will not only help suppliers manage liquidity, but as a consequence will also help strengthen Caterpillar’s supply chain by ensuring that its suppliers have ready access to working capital.

Apr 01

Office Depot restates profit to a loss

Posted by Stephen Taub in taxestax reportingtax rateTaxInternal Revenue ServiceCashcarrybackAmerican Recovery and Re-investment Act of 2009

Stephen Taub

Office Depot said it will need to restate most of its financial statements for 2010 after the Internal Revenue Service denied an $80 million tax write-off under economic stimulus-based tax legislation enacted in 2009.

As a result, it will report a net loss of $46 million for 2010 instead of $33 million in net earnings.

Mar 30

CEOs more upbeat about growth, jobs

Posted by Stephen Taub in jobsCEOsCashCareers/Managementcapital spendcapital expendituresBusiness Roundtable

Stephen Taub

CEOs continued to grow more upbeat about the overall economy and their own company's prospects.

According to the results of Business Roundtable's first quarter 2011 CEO Economic Outlook Survey member CEOs estimate real GDP will grow by 2.9 percent in 2011, an increase from the 2.5 percent expected in the fourth quarter of 2010.

Mar 28

Commercial insurance prices remain flat

Posted by Stephen Taub in professional liabilityinsurancedirectors and officers liabilitycommercial propertycommercial insuranceCash

Stephen Taub

Commercial insurance prices remained flat for the eighth consecutive quarter, according to Towers Watson's most recent Commercial Lines Insurance Pricing Survey (CLIPS).

At the same time, accident-year loss ratios deteriorated relative to the same period in the prior 12 months.

Mar 25

Finance and accounting outsourcing to grow 15-20 percent

Posted by Stephen Taub in Record to ReportR2RProcure to PayP2PoutsourcingOrder to CashO2CFinance and accounting outsourcingCashCareers/Management

Stephen Taub
Finance and accounting outsourcing is surging once again.

Annual contract value (ACV) for this specialized category of outsourcing is expected to grow by 15 percent to 20 percent this year, to more than $4 billion, according to the Everest Group.

This growth comes on the heels of a 15 percent increase in 2010, suggesting the market is surging once again.

In 2008 and 2009, ACV growth was closer to 10 percent, reflecting the weaker overall economy.

Mar 24

401(k) matching still slow to return: Study

Posted by Stephen Taub in Grant ThorntonCashCareers/Management401k

Stephen Taub

As the economy continues to improve and the stock market continues on its upward path, employees no doubt are wondering whether their companies are planning to restore their matches for 401(k) plans.

A new comprehensive study by Grant Thornton, however, does not shed much encouragement for workers.

Mar 23

Stock buybacks are back

Posted by Stephen Taub in stock optionsStandard & Poor'sS&P 500Cashbuybacks

Stephen Taub

Stock buybacks are staging a comeback...sort of.

In the fourth quarter of 2010, total value of share repurchases by S&P 500 companies surged 80.6 percent to $86.36 billion from the comparable period the previous year, according to Standard & Poor's. It was also up 8.6 percent from the third quarter of 2010.

Mar 21

Moody’s encourages Limited to borrow

Posted by Stephen Taub in Moody's Investors Servicedefault ratedefaultdebt-rating agenciesDealscredit-rating agenciesCredit RatingsCash

Stephen Taub

Limited Brands said it will sell $750 million in 10-year notes. The company said it intends to use the proceeds to repurchase $500 million of stock under a new share repurchase program and for general corporate purposes.

The move seemed to surprise some commentators. But investors applauded the move, bidding up the stock by more than 1 percent when it began trading Tuesday morning.

Mar 21

Corporate bond market heating up again

Posted by Stephen Taub in TARPdebtcorporate bondsCash

Stephen Taub
Equity investors are not the only ones who have become more comfortable with taking on risk in the aftermath of the earth-quake, tsunami and nuclear crisis in Japan and anti-government demonstrations in the Middle East.

A number of corporations are once again ramping up debt offerings after many companies abruptly postponed sales last week.

On Monday morning alone, for example, SunTrust Banks said it would sell $1 billion in new senior unsecured debt. It plans to use the proceeds, along with a $1 billion common stock offering, to repurchase its $3.50 billion of fixed rate cumulative preferred stock, Series C and $1.35 billion of fixed rate cumulative preferred stock, Series D issued under TARP, according to Dow Jones.

Mar 11

Why directors, comp committees are under attack

Posted by Stephen Taub in severance packagesseveranceRegulation FDReg FDcompensation committeecompensationCashCareers/Managementboardsboard of directors

Stephen Taub

This is why boards of directors-especially compensation committees-are under attack.

When Steve Odland resigned as Office Depot's chairman and CEO last fall, the company's stock surged 9 percent on the same day.

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