Blog Entries for SherylNash01 A short description about your blog Fri, 31 Dec 2010 14:41:19 +0100 FeedCreator 1.7.2 IPO market continues to improve

The IPO market continues to rebound. A total of 10 companies went public in July following 12 the prior month.

Altogether, there have been 74 IPOs, year-to-date, through July, up nearly 370 percent from the prior year, according to Greenwich, Ct.-based IPO research firm Renaissance Capital.

Granted, the year-to-date total is still well below the peak of 262 IPOs that went public in the first seven months in 2000 during the height of the dot-com boom, according to Renaissance Capit [...] Wed, 04 Aug 2010 23:00:00 +0100 IPO pipeline IPO career/management Dodd-Frank punts on separating chair, CEO

The Dodd-Frank Act may have gone a little further on some issues than many people had anticipated. But one potential issue that did not see meaningful change is the separation of the chairman and CEO functions.

The Act requires that the SEC issue rules requiring each public company disclose inĀ itsĀ annual proxy materials the reasons why the company chose to have either the same person, or separate people, serve as the Chairman and CEO.

However, the Act does not bar combin [...] Mon, 02 Aug 2010 23:00:00 +0100 Dodd-Frank corporate governance CEO career/management board chair To amortize or not to amortize

Employers with underfunded defined benefit (DB) pension plans can receive billions of dollars in temporary pension funding relief as a result of legislation recently signed into law, according to a new analysis by professional services company Towers Watson.

Under the Preservation to Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010, employers can elect to amortize funding shortfalls for any two plan years between 2008 and 2011, over a 15-year period, or make int [...] Mon, 02 Aug 2010 23:00:00 +0100 defined benefit plans career/management amortization Time for yet another reorg?

Four out of five organizations, mostly large corporations and some non profits and governments, have gone through some sort of redesign initiative over the past 12 months, according to a survey of more than 400 programs by 260 such organizations by the Corporate Executive Board. Trouble is, more than half of these organizations expect to go through another major redesign over the next 12 months.

While 90 percent of those organizations reported hitting the cost-cutting targets after one [...] Thu, 29 Jul 2010 23:00:00 +0100 restructuring reorganization career/management How CFOs can ease the transition into a new job

Last year, 13 percent of chief financial officers changed jobs. Although this was down from 18 percent the prior year, Deloitte's CFO Programs predicts CFO turnover will rise again this year.

The ramifications of turnover are huge. Tom Bonney, founder and managing director of CMF Associates, which offers temporary CEO, COO and controllership services, estimates that when a CFO leaves, efficiency in the finance department is automatically cut in half and exposure to risk increases. W [...] Sat, 24 Jul 2010 23:00:00 +0100 turnover transition CFO career/management CFOs make good CEOs: survey

The need for a chief executive to work with boards and communicate with Wall Street has never been greater, and CFOs have experience in both those areas--making them excellent candidates for the top spot in an organization.

Companies are increasingly recognizing the value of this internal asset and promoting their CFOs to CEO, according to executive search firm Russell Reynolds' Chief Financial Officer Moves North America, Q1 2010.

Currently there are some 50 CEOs in the Fort [...] Tue, 20 Jul 2010 23:00:00 +0100 CFO turnover CEO career/management Throw good money after bad? Sometimes

Companies all too often stick with losing ventures despite signs of trouble, critics contend. But they acknowledge that it is often difficult to determine just how long is too long.

Still, the experts point to AOL, Google, Gillette, Michelin and Research In Motion as recent or current examples of companies that have refused to pull the plug, or delayed doing so, on products and services where margins, market share, relative growth rates and or other competitive benchmarks indicate that [...] Sun, 18 Jul 2010 23:00:00 +0100 R&D; ending a product line career/management Why succession planning is critical

The loss of one key person can be bad enough. The loss of three at one time can be devastating.

Just ask US Highland. This past week, the designer and manufacturer of motocross, supermoto and other specialized motorcycles lost president Mats Malmberg, COO Chase Bales and CFO Damian Riddoch, when their plane crashed into a wooded area near Tulsa, Oklahoma.

The market reacted immediately to the July 12 announcement. Shares fell 54 cents, or 44 percent, to 75 cents. Tue, 13 Jul 2010 23:00:00 +0100 sucession planning career/management A season of rising shareholder discontent

This proxy season is shaping up as one of shareholder revolt, as more and more directors fail to receive the support of a majority of owners.

While the Corporate Library, a corporate governance research firm, is still collecting data, early indications suggest that many more directors will fail to win support from less a majority of their shareholders than in previous years.

"The results are much, much, different than in the past," Annalisa Barrett, senior research asso [...] Sun, 11 Jul 2010 23:00:00 +0100 shareholders shareholder dissent shareholder activists corporate governance career/management Arms' length may not be enough for investors

Shareholders recently voiced fresh dissatisfaction with director R. Bruce LaBoon, who is also "of counsel" at Locke Lord Bissell & Liddell, a law firm that provides services to the company.

In its proxy statement, the company cliams that the "attorney fee arrangement with Locke Lord is negotiated on the same basis as arrangements with other outside counsel and is subject to the same terms and conditions."

But that wasn't enough to satisfy investors when [...] Sat, 10 Jul 2010 23:00:00 +0100 shareholders shareholder activists corporate governance career/management Customers drive innovation

As companies emerge from the recession, they are looking for new ways to grow. Ingenuity is key, and a number of companies are looking to their customers to help them drive innovation.

In the past two years, Masco Bath has turned the traditional product-development process on its head, reaching out to customers to help design new shower and bathing systems, rather than rely on in-house staff. The initiative called, Voice of the Customer (VOC), was the brainchild of president Chris Yanko [...] Wed, 07 Jul 2010 23:00:00 +0100 innovation ideas customers customer service career/management Good governance vital to going public

Corporate governance can make or break an IPO, according to advisory firm KPMG. Governance topped the ranking of biggest headaches faced by companies preparing to go public, recent KPMG surveys found. And Aamir Husain, national leader for IPO Services at KPMG, says that corporate governance can be such an issue that it can kill an IPO.

The work involved in improving corporate governance can be overwhelming and complex. There is compliance with SarbOx, quarterly reports with the SEC, th [...] Mon, 05 Jul 2010 23:00:00 +0100 IPO going public corporate governance compliance career/management Non-profits revamp boards for better governance

Non-profit boards are on the hot seat, much like their corporate counterparts. They are receiving greater scrutiny from policy makers, the public and the Internal Revenue Service. While the spotlight is on the board's role in ensuring compliance with the law and preventing fraud, of equal importance is leading their organizations at a time when obtaining revenue growth and controlling expenses are priorities.

Change is afoot in the non-profit governance arena. Take for example the [...] Sat, 03 Jul 2010 23:00:00 +0100 non-profits non-profit boards governance career/management Companies unprepared for "say-on-pay" provision

Companies are either surprised by the say-on-pay provision in the financial reform bill or dismissing its importance, judging from a new Towers Watson survey.

It found that only 12 percent of respondents said they are very well prepared for the say-on-pay legislation, while 46 percent said they were somewhat prepared. Some 22 percent said they didn't know if their companies were ready.

The financial reform legislation awaiting final action in the House and Senate includes a sa [...] Wed, 30 Jun 2010 23:00:00 +0100 say-on-pay financial reform bill executive compensation career/management Corporate social responsibility gains more traction

The current proxy season is giving hope to social and environmental shareholder activists they will eventually prevail on management to adopt their resolutions.

Those favoring socially and environmentally sound policies are winning historically high levels of support. While they're non-binding, increasing support for them puts pressure on managers to respond.

Votes above 40 percent in favor of such resolutions nearly doubled from last year according to the Corporate Social R [...] Tue, 29 Jun 2010 23:00:00 +0100 shareholder resolutions governance ESG corporate social responsibility career/management Why Dell is likely to go private

Michael Dell got the bees buzzing when he recently said he has considered taking his company private.

Dell has more than $11 billion in cash and investments on its balance sheet, but that doesn't tell the computer maker's whole story. "Growth has dried up, their sales have flat-lined around $60 billion, and the competition is stronger," said Andre Zdanow, chief market strategist at Charles Vista.

They increased cash flow by reducing capital expenditures and whil [...] Sun, 27 Jun 2010 23:00:00 +0100 public to private Dell computers career/management The uncomfortable role of chief compliance officer

New federal sentencing guidelines from the Department of Justice have cast a spotlight on the question of whom a Chief Compliance Officer should report to. Unfortunately, the guidelines themselves, which are used by judges to sentence those convicted of crimes, provide little guidance. And the result could mean that the CCO reports to several different individuals, which could lead to confusion or even conflict over compliance. But experts say that may be the price companies need to pay to ma [...] Wed, 23 Jun 2010 23:00:00 +0100 compliance chief compliance officer career/management Say on severance gaining support

First there was say on pay, now it's say on severance...maybe.

The Senate conferees trying to hammer out a massive financial overhaul bill have seemingly agreed to include a House supported provision that would give shareholders an advisory vote on golden parachutes, according to Dow Jones.

So far, only a handful of companies currently offer this opportunity, including Verizon, Citigroup and Qwest Communications.

In 2008, Qwest's board instituted a say on severance [...] Wed, 23 Jun 2010 23:00:00 +0100 shareholder activism say on severance financial reform career/management CFO resigns from KV Pharmaceutical two months after hiring

There's no shortage of drama at KV Pharmaceutical. Last week Chairman Terry Hatfield, Stephen Stamp, who was named CFO April 13, and board member John Sampson quit, citing "serious concerns" about newly elected board members and senior management.

The previous week, immediately following the company's annual meeting, the newly elected board ousted interim President and CEO David Van Vilet, who had been in charge since December 2008.

The St. Louis-based company h [...] Sun, 20 Jun 2010 23:00:00 +0100 corporate boards CFO resignations career/management Most CEOs have no heir apparent

More than half of companies today cannot immediately name a successor to their CEO should the need arise, according to new research conducted by executive search and leadership consulting firm Heidrick & Struggles and Stanford University's Rock Center for Corporate Governance.

"The lack of succession planning at some of the biggest public companies poses a serious threat to corporate health, especially as companies struggle toward a recovery," said Stephen A. Miles, v [...] Wed, 16 Jun 2010 23:00:00 +0100 succession planning governance CEOs career/management