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Opinions and views from expert CFOZone members.

Tag >> Careers/Management
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 27
2010

Job swap at Alcoa could be CFO prep

Posted by dbedell in promotionscontrollersCFOCareers/Managementcareer advancementAlcoa

dbedell

Multinational aluminum producer Alcoa is building the experience and knowledge-base of some of its top finance executives by having them swap jobs. Although it is hardly a new trend for companies to groom finance executives for the top position by putting them through their paces in various different functions and departments, it is an interesting twist for the two execs to simply switch jobs.

On August 1, Alcoa Vice President and Controller Tony Thene will take over as CFO of Alcoa's engineered products and solutions business group (EPS). Taking his place will be current EPS CFO Graeme Bottger. Thene will stay a vice president and will join the company’s executive council. Bottger—already on the council—was elected an officer of the company.

Jul 27
2010

Time to reread Keynes

Posted by Ron F in recoveryrecessionObama Administrationjobsjoblessnessinvestmentfinancial crisisenvironmental policyenergyemploymenteconomydemandCongressCareers/Management

Ron F

I've avoided rehearsing the on-going debate over the bleak macroeconomic picture, because it quickly descends into endless political back and forth along with the usual name-calling, as my colleague Steve Taub and I have been discussing internally today.  But it's time to make an exception:

Is the private sector not hiring because it fears more aggressive action from the public sector, and so the public sector (read Obama administration) should leave the economy to itself, as those on the right claim? Or is the lack of private sector hiring a reflection of a lack of private sector hiring, and thus a vicious circle and market failure that requires the public sector (read Obama administration) to step in with a serious jobs program involving infrastructure, alternative energy and schools, as those on the left insist?

Not to speak for Steve, but my sense is he tends to agree with the first perspective, at least for the most part, and I can safely report that I agree with the second, and would recommend James Surowiecki's recent column to help make my case if I could find it. Since I can't, suffice it to say Surowiecki made the useful observation that the two sectors where hiring is picking up, banking and health care, are those where the government has taken the most aggressive regulatory action.

Jul 20
2010

Jobs picture improving in many states

Posted by Stephen Taub in unemployment rateunemploymentjobsCashCareers/ManagementBureau of Labor Statistics

Stephen Taub

There is little disagreement that the national jobs picture is ugly. The unemployment rate stands at 9.5 percent, unchanged from June 2009. If you include the under-employed, the fed up and not looking crowd, and the frustrated college grads who decided to go back to college, the rate is probably closer to 20 percent.

However, there are some bright spots-okay, let's call them not-as-bad spots-when you break down the job data state by state.

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 14
2010

GE CEO walks back his remarks about China

Posted by dbedell in RiskprotectionismJeff ImmeltGEChinaCareers/Management

dbedell

To follow up on my blog from earlier this month, GE’s CEO Jeffrey Immelt is backpedalling on his comments about increasing protectionism in China. Immelt, in an interview with the FT on Wednesday, said that China is a very important market for GE, and one they plan to be in for the long term.

Apparently he decided that criticising the political administration of a key market—one where his company is very involved in public sector contracts, and one that is not known for valuing constructive criticism—in a public forum was not a good idea.

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:

Jul 01
2010

Companies sitting on still more cash

Posted by Ron F in TaxTARPrecoveryrecessioneconomydemanddefaultconsumer spendingCongresscash managementcash concernsCashCarmen ReinhartCareers/Managementcapital expenditurescapexBanks

Ron F

A survey released today by the Association of Financial Professionals will do nothing to dampen the austerity versus stimulus debate.

To wit: Forty-three percent of US corporations had larger US cash and short-term investment holdings this May than they did six months earlier. Only 24 percent of respondents reported that their short-term holdings had shrunk during the past six months.

Jun 29
2010

It's the jobs, stupid!

Posted by Stephen Taub in pricingjobsconsumer confidenceConference BoardCareers/Management

Stephen Taub

In case we-and more importantly, the Obama Administration-needed another reminder, a number of developments on Tuesday underscore why jobs is the number one problem facing most people in this country.

Not financial reform, not the oil spill (although this is a huge disaster that must be contained), not Afghanistan (another huge disaster that must be addressed).

Jun 29
2010

BP takes on Twitter nemesis

Posted by dbedell in Twittersocial mediaRiskreputationpublic relationsCareers/ManagementBP

dbedell

BP has engaged another front in its public relations campaign over the Horizon Deepwater oil spill fiasco. The energy conglomerate is now taking on combatants on Twitter—in a concerted effort to quell increasing criticism aimed at the company in the Twitterverse. BP has upped its Twitter followers to over 16,000 from around 2,000 over the course of a month. The company is providing updates of its ongoing response efforts on Twitter.

Part of the problem is that BP has a Twitter nemesis—since May another Tweeter that has been lampooning BP’s efforts at managing the reputational fallout of the oil spill. And that nemesis—BPGlobalPR—not only has more than 10 times as many followers as BP itself—at over 180,000 on Tuesday—but also has stronger search engine (SEO) ties. BPGlobalPR came up first on a Google search of BP and Twitter, which means that so far the fake PR tweeter is winning the battle for online dominance.

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