Arauco Says Chile Quake Damage to Pulp Plants Was `Force Majeure Event' Mar 13, 2010
The company is contacting its customers and suppliers to discuss arrangements and the status of its operations, Chief Financial Officer Gianfranco Truffello said today in an e-mail to Bloomberg News. The and tsunami flattened buildings and washed homes out to sea in Chile, which is still being shaken by aftershocks. (Bloomberg -- Latin America)
1 Reinventing IT Project Management - Peter Drucker Style Mar 13, 2010
For me, I saw this often when I worked as an employee for more than 20 years in large organizations where among other jobs I ran the Coca-Cola Company s global information technology function and was CFO of Coca-Cola Beverages Ltd.. Whilst Peter Drucker didn't focus his writing specifically on technology projects, there is nothing in large enterprises that exposes the function and dysfunction of "knowledge work productivity" more than these types of projects, given the their ever-changing inter... (CIO Information Network)
Canadian Borrowers Poised to Issue the Most Debt Since 2006: Canada Credit Mar 13, 2010
If Im a chief financial officer, Im chomping at the bit to get to market, said a portfolio manager in Calgary at MacLean & Partners, which oversees more than C$1 billion. I dont doubt that theres C$3 billion in supply by the end of the month. (Bloomberg -- Canada)
Red Hawk Casino operator lost $2.4M in Q4 Mar 13, 2010
We remain focused on achieving improved results and we continue to be optimistic about this property s long-term operating prospects, said Tim Cope, president and chief financial officer of Lakes, in a news release. Most Read Stories. (Sacramento Business Journal, CA)
Big Lots promotes several execs Mar 13, 2010
CFO Joe R. Cooper was named an executive vice president, with additional responsibility for loss prevention and risk management. Chief Information Officer Lisa M. Bachmann added the title of executive vice president of supply chain management, with added responsibilities for distribution and transportation services. (Columbus Business First, OH)
SEPTA proposing 6% fare increase Mar 13, 2010
The reduction would put SEPTA s capital funding, which had been growing steadily each year since 1996, at a level not seen in more than 15 years, CFO Rich Burnfield said. In addition to shelving the $100 million new payment system, SEPTA would also have to put on hold a $100 million renovation of City Hall station, $80 million in Elywyn-to-Wawa improvements, and a $62. (Philadelphia Business Journal, PA)
'Infosys may have seen 4,000 staff exits in February' Mar 13, 2010
Infosys CFO Balakrishnan had earlier told analysts in New York that they were seeing an improvement in industry environment. So, to some extent, the wage pressure could come up and we are seeing some attrition, he had said. (India Times)
Pelosi Signals Aim to Pass Health-Overhaul Bill Before Obama Trip to Asia Mar 13, 2010
Opponents, including WellPoint Chief Financial Officer , say the measure doesnt do anything to control costs and contains insufficient penalties for people who dont buy coverage. The bill will price healthy people out of the insurance market, he said March 10 at an investor conference. (Bloomberg -- US)
Business Calendar for week of March 15 Mar 13, 2010
Ideas 2010 Roundtable: CFO Issues, Phoenix Business Journal, 5:30 p.m., Desert Botanical Garden, 1201 N. Galvin Pkwy. Phoenix. (Phoenix Business Journal, AZ)
Charles Schwab Issues Q1 Profit Warning Mar 13, 2010
Chief Financial Officer Joe Martinetto said the waivers will likely be 15% higher than the fourth quarter's $110 million ... Chief Financial Officer Joe Martinetto said the waivers will likely be 15% higher than the fourth quarter's $110 million. (SmartMoney)
Bank of Florida Q4 loss doubles Mar 13, 2010
The company s CFO, senior executive VP, chief banking officer and president of Bank of Florida Southeast saw their total compensation rise in 2009. Terry W. Stiles, CEO of Fort Lauderdale-based developer Stiles Corp. is on the board of directors. (South Florida Business Journal, FL)
JPMorgan, Citigroup helped cause Lehman's demise Mar 13, 2010
In the three months during which he held the job, Mr. Lowitt worked diligently and faithfully to discharge all of his duties as Lehman's CFO,'' Liman said. Any suggestion that Mr. Lowitt breached his fiduciary duties is baseless. (Sydney Morning Herald -- Business)
Walter Energy sets pay for temporary CEO Mar 13, 2010
Compensation arrangements between Honnold and the company provide for $7,500 per month while she serves as interim CFO, in addition to her annual base salary of $266,513. Walter Energy produces and exports premium hard coking coal for the global steel industry. (Tampa Bay Business Journal, FL)
Official report says Lehman Bros. used 'misleading' accounting tricks Mar 13, 2010
The executives named by the report include former CEO and three chief financial officers. Fuld has denied knowing what the transactions were or the accounting for them. (USA Today -- Money)
Worlds third-richest person Buffett gets pay rise Mar 13, 2010
Among Berkshires top executives, chief financial officer Marc Hamburg remained the best paid in 2009. His compensation rose 11% to US$874,750, almost all of which was salary. (The Star Online, Malaysia -- Business)
UTC Tells Wall Street: 'Anyplace Outside Connecticut' Mar 13, 2010
"Anyplace outside of Connecticut is low-cost," United Technologies Corp.'s chief financial officer, Gregory Hayes, told Wall Street analysts -- paraphrasing previous remarks by another UTC executive, Jeff Pino, the president of Sikorsky Aircraft. "Even if work has to stay in the U.S., there are opportunities to reduce cost by moving out of those high-cost locations," Hayes said. (FOX61, CT)
Coca-Cola's mixed message draws critics Mar 13, 2010
Chief financial officer Gary Fayard reiterated that in June: "We think there are different ways to win in the marketplace. The constructive tension between the company and the bottlers actually leads to better results.". And in November, Kent told analysts in Atlanta that the franchise model is "the most magnificent fusion of scalable, global brands." He repeated Coca-Cola's commitment to the business model in New York in December. (Atlanta Journal-Constitution -- Business)
American CareSource names interim CFO Mar 12, 2010
American CareSource Holdings names interim CFO - Dallas Business Journal ... American CareSource Holdings names interim CFO. (Dallas Business Journal, TX)
Goldman hired for ResCap sale: sources Mar 12, 2010
The company this week said Chief Financial Officer Robert Hull is resigning. In addition, Chief Executive Michael Carpenter will receive no cash compensation for 2010, and will instead be paid $9 million in stock, according to a Wall Street Journal report. (New York Post -- News)
Garages expected to spur development Mar 12, 2010
Jim Lacy, CFO and general counsel of ZirMed, said the company currently occupies 75 percent of its new building and is continuing to grow. Several expansion options are being considered, he added, including the possible addition of floors on top of Weyland s proposed garage that could be leased. (Louisville Business First, KY)
Understanding the Governance Side of IT-Business Alignment Mar 12, 2010
CIOUpdate columnist Faisal Hoque of the BTM Corp. Carlson Companies chairwoman Marilyn Nelson Carlson shows the way (CIO Information Network)
South Florida companies benefit from new mezz fund Mar 12, 2010
CFO Alexander Moskovitz and Ellis declined to disclose the amount, though Moskovitz said it was more than the $500,000 minimum. The three-year-old company works to collect debt for condominium and homeowner associations. (South Florida Business Journal, FL)
Wichita Area Technical College hires former Hawker executive as CFO Mar 12, 2010
for free extra services. Thursday, March 11, 2010, 2:27pm CST. (Wichita Business Journal, KS)
JPMorgan, Citigroup Helped Cause Lehman Illiquidity, Examiner Report Says Mar 12, 2010
In the three months during which he held the job, Mr. Lowitt worked diligently and faithfully to discharge all of his duties as Lehmans CFO, Liman said. Any suggestion that Mr. Lowitt breached his fiduciary duties is baseless. (Bloomberg)
Federal Reserve may yet rule over nonbank finance empire Mar 12, 2010
Buffett still subordinate in pay to Berkshire CFO. OMAHA, Neb. (Honolulu Advertiser)
Stock Picks: CA, Bed Bath & Beyond, Dr Pepper, Hot Topic Mar 12, 2010
The all-cash deal will probably cut net income by 10 cents a share in the year ending March 2011, Chief Financial Officer Nancy Cooper said on a conference call. Nimsoft's products help customers monitor so-called cloud systems, which access computers, applications and data through the Internet. (BusinessWeek)
SRP board passes rate hike Mar 12, 2010
"It is a reasonable goal to set," Chief Financial Officer Mark Bonsall said, although he could not guarantee it would mean no more rate increases through 2012. "It would not be prudent for me to do that," he said. (AZCentral -- Business)
LaSalle Hotel accounting exec may leave Mar 12, 2010
Bethesda-based said its chief accounting officer may leave the company, and its chief financial officer will assume the additional title if that occurs. Julio Morales, who joined LaSalle in 2008, has informed the board he has been offered a job as chief financial officer for another company, subject to that company s initial public offering, LaSalle said in a regulatory filing ... Weger already holds the titles of chief financial officer, treasurer and secretary. (Washington Business Journal, DC)
Cruise shopping tips from pros Mar 12, 2010
"It is still early in the selling cycle for 2010, but our order book is stronger and prices are higher than at the same time last year," said Royal Caribbean Chief Financial Officer Brian J. Rice in a recent earnings announcement. CNN asked Allen and Brown for some tips on cruise shopping and common cruising misconceptions. (CNN -- Travel)
Career Tip: Networking with the bigwigs to gain support for IT Mar 12, 2010
For instance, instead of making friends with the CIO or CTO, you may be just as well off fostering a relationship with your organization's operations manager, CFO, HR manager or legal counsel. Often, they're the people who have the real pull within the organization. (SearchWindows2000.com)
Health industry professionals sound off on reform Mar 12, 2010
Robert Barbier, CFO and senior vice president, University of Louisville Hospital. Improve access to preventative and primary care. (Louisville Business First, KY)
Volkswagen Shares Rise for Second Day in Frankfurt on Porsche Funding Plan Mar 12, 2010
Chief Financial Officer said yesterday that VW will seek shareholders backing on April 22 to issue bonds with warrants or convertible bonds for a maximum of 40 million shares. The capital increase, scheduled to take place in the first half of this year, may total about 4 billion euros, he said. (Bloomberg -- Germany)
A Sweet Century Mar 12, 2010
It was invented in 1994 by Joel Friedman, Hashimotos husband and the companys chief financial officer. Thats what everyone knows us by now, and its not even a Japanese pastry, Hashimoto said. (Los Angeles Downtown News, CA)
Proposed law targets Medicaid fraud Mar 11, 2010
It would make recommendations of ways to stop fraud to the state s CFO.. Also under the bill, the state s auditor general would be required to audit the Florida Agency for Healthcare Administration s Medicaid fraud and abuse program. (South Florida Business Journal, FL)
Hub school officials say budget gap nearly filled Mar 11, 2010
In a presentation last night, John McDonough, the School Department s chief financial officer, told the committee that the projected budget gap for the next school year had been reduced to $3. 5 million, down from more than $50 million in an original estimate last month. (Boston Globe)
Roads to suffer Mar 11, 2010
Funds had to be raised to duplicate the offices of the MECs with new heads of departments, chief financial officers and other positions. "The full cost of this exercise has not yet been quantified although the MECs' offices cost R1-million," said Campbell. (iAfrica.com)
Obama Vows to Curb Waste, `Massive' Insurer Subsidies to Fund Health Bill Mar 11, 2010
s chief financial officer said the bill will force healthy people out of the market while doing nothing to control medical costs. Those, he said, are just the conditions that led the insurer to plan a rate increase in California, a move that became a rallying point for Democrats seeking the overhaul. (Bloomberg -- US)
Munich Re's Q1 Results Reflect Quake, Bad Winter Mar 11, 2010
XE) first-quarter results will reflect the high bill it received for claims related to the earthquake in Chile, the European storm Xynthia and the overall hard winter in Germany, Chief Financial Officer Joerg Schneider said Wednesday. Meanwhile, the group's capital investments "performed well" to date. (SmartMoney)
Buffett's Salary Unchanged, but Security Costs up Mar 11, 2010
Warren Buffett brought home less pay than Berkshire Hathaway's chief financial officer again last year, but the company is paying more to protect the billionaire these days ... Berkshire's chief financial officer, Marc Hamburg, saw his compensation grow 11 percent, to $874,750 in 2009, to remain the top earner at the company's 21-person headquarters. (Newsmax)
TSX Venture Exchange Closing Summary for March 10, 2010 Mar 11, 2010
020$5,804,152 Clifton Star Resources Inc. CFO $7. 800 $0. (CCNMatthews Press Releases)
GDC 10: EA Fires Back At Activision Over Infinity Ward Debacle Mar 11, 2010
" by LATEST IMAGES LATEST VIDEO March 10, 2010 - During a panel today at the Game Developers Conference, Electronic Arts' Chief Financial Officer John Schappert commented on the legal situation between rival publisher and ex-Infinity Ward developers Jason West and Vince Zampella over . Schappert called the situation "disappointing. " "I'm disappointed on a couple of fronts," said Schappert. "I'm disappointed because I think Jason and Vince, on the human side, are two great guys, I know them... (IGN PC Games)
Music, food, drink come together at Cocoa Beach fest Mar 11, 2010
Its CFO and founder, Carol Craig, is a remarkable person. Q: There's more to the festival than just a good time, right. (Florida Today)
Datacenter Expansion is on for 2010 Mar 11, 2010
Data Center Knowledge, a blog focused on datacenter issues, at the real estate firm Grubb as stating "All those deals that got shelved in 2009 because the CFO said no .. they're going to happen.". Dave Cappuccio, vice president and chief of research for infrastructures at , wasn't too surprised at the DRT findings either. (Datamation)
A Sweet Century Mar 11, 2010
It was invented in 1994 by Joel Friedman, Hashimotos husband and the companys chief financial officer. Thats what everyone knows us by now, and its not even a Japanese pastry, Hashimoto said. (Los Angeles Downtown News, CA)
Firehouse Subs execs in Haiti Mar 11, 2010
co-founder Robin Sorensen and Chief Financial Officer Stephen Joost are in Haiti this week providing hands-on support for earthquake relief efforts. The two left for the devastated island nation Monday along with Sorensen s father, Robert, a retired fire captain, and his son Eric. (Jacksonville Business Journal, FL)
CSX expects double-digit EPS growth Mar 11, 2010
Oscar Munoz, the company s executive vice president and chief financial officer, said the projections are boosted by its plan to handle about 30 million tons of exported coal this year, according to a filing. CSX attributed a 13 percent revenue decline from the fourth quarter of 2008 to $2. (Jacksonville Business Journal, FL)
More CFOs expect increased hiring Mar 11, 2010
More chief financial officers in the U.S. anticipate an increase in the hiring of full-time accounting and financial employees in the second quarter, according to a new survey from. Seven percent of CFOs interviewed for the Robert Half International Financial Hiring Index said they plan to add full-time accounting and finance staff during the second quarter, the highest forecast since the first quarter of 2009. (Memphis Business Journal, TN)
Fed Shoulders AIG Japan Mortgage Losses to Ease Sale of Alico to MetLife Mar 11, 2010
5 billion purchase of the AIG unit, according to a MetLife regulatory filing and the companys chief financial officer. A corporate vehicle owned by the Fed and New York-based AIG will use MetLife stock gained in the sale to pay for future real estate losses, said two people with knowledge of the arrangement. (Bloomberg -- Japan)
Mayor opens new Loomis causeway: 'It's more than a roadway' Mar 11, 2010
"Safety was always our biggest concern and working with the school has continued the great relationship that we share in addressing these concerns." Loomis Chaffee Chief Financial Officer Chris Wejchert commented that the prior causeway served the school and town well for 90 years, but the new causeway with its sidewalk will greatly enhance safety for students, townspeople and other pedestrians, as well as vehicles driven by and transporting students. In addition to thanking mayor Don Trinks and... (Windsor Journal, CT)
Another $200K for creamery Mar 11, 2010
Karen Olson, the CEO and CFO of Valley Dairy Inc., disagrees ... Stop the Insanity wrote on Mar 8, 2010 7:13 PM:" Karen Olson CFO AND CEO? That is a RED flag right there! NEVER is this done in a corporation! Hope Beus and Wells are watching her books.Beus and Olson have each defaulted on state loans to the tune of over $2 million a piece. Public records.Obviously the Board of Ag are handing out loans hand over fist knowing they are not surviving on their own. ". (Wasilla Frontiersman, AK)
Hawaii school classes may get larger under $70M budget cuts Mar 11, 2010
James Brese, chief financial officer of the DOE, said about $700 million is distributed among the schools to pay for teachers, counselors, librarians and other staff and school needs. Principals ultimately must decide how to spend their budget. (Honolulu Advertiser)
Maui Land & Pineapple posts $123.3M in losses Mar 11, 2010
John Durkin, chief financial officer, said 2009 was a year of transition for the company. "We think we've made some good improvements to our cost structure, and we plan more improvements," he said. (Honolulu Advertiser)
Atlanta selects new airport bond underwriters Mar 11, 2010
Last year, the city's then-chief financial officer asked for an investigation into a letter regarding the selection of underwriters ... Interim chief financial officer Roosevelt Council Jr. said the city has not had issues with intervention or legal challenges with the new selections, and the city will consider using a formal request for proposals each time it does a bond issuance. (Atlanta Journal-Constitution -- Business)
Business Digest: TIB Financial reports $61.5 million '09 loss Mar 11, 2010
Sink was elected as Florida's Chief Financial Officer in 2006, and has worked to cut wasteful government spending. She created "Safeguard Our Seniors," which is aimed at protecting senior citizens from financial fraud. (The News-Press -- Business)
Analysts hot for First Solar execs, cool on stock Mar 11, 2010
(NYSE:RSG) tied in the No. 2 spot in the magazine s survey of CEOs, CFOs and investment relations executives ... In addition they are united in their belief that First Solar has the sector s best CEO, Michael Ahearn, best CFO, Jens Meyerhoff, and best IR professional, Larry Polizzotto ... Freeport-McMoRan s CEO Richard Adkerson received top honors in the metals and mining category, while CFO Kathleen Kirk also took a first place. (Phoenix Business Journal, AZ)
Everglades dying along with Crist? Mar 11, 2010
A February letter to the district's chief financial officer from a state consultant warned of "difficult decisions" ahead and multimillion-dollar deficits for the agency if the sugar deal happens. District board chairman Eric Buermann said it's too soon to say whether the contract remains financially viable given that it won't be completed for months. (MSNBC -- Environment)
Survey: More mountain CFOs in hiring mode Mar 11, 2010
Chief financial officers in Colorado and neighboring mountain states are more likely to be in a hiring mode in coming months than their counterparts elsewhere across the nation, a new survey by indicates. Nationwide, 7 percent of about 1,400 CFOs interviewed for the quarterly "Robert Half International Financial Hiring Index" said they plan to add full-time accounting and finance employees during the second quarter, while 8 percent said they anticipate cutting staff, for a net decrease of 1... (Denver Business Journal, CO)
Wichita Community Foundation names CFO Mar 11, 2010
Wichita Community Foundation names first CFO - Wichita Business Journal ... Wichita Community Foundation names first CFO ... WCF President and CEO Rob Allison says the decision to hire a CFO is part of a strategic plan to upgrade the foundation s accounting services. (Wichita Business Journal, KS)
Funding the old and the new Mar 11, 2010
Markel Petty, Adageo Management s chief operating officer and general partner, is also the chief operating officer of TIC Capital Markets and the former chief financial officer of Direct Capital Securities. ccalnan@bizjournals. (Austin Business Journal, TX)
Froedtert CFO OConnell to retire Mar 11, 2010
Froedtert CFO OConnell to retire - The Business Journal of Milwaukee ... Froedtert CFO OConnell to retire ... O Connell has served as senior vice president of finance and CFO since the inception of Froedtert & Community Health in 2001. (Milwaukee Business Journal, WI)
Fall guy at EMI Mar 11, 2010
"Three executives -- Ronn Werre, David Kassler, and Ernesto Schmitt -- along with CFO Shane Naughton, are responsible for putting the business plan together under Allen's leadership," said an EMI source ... These sources said Leoni-Sceti's plan lacked the support of three key EMI executives -- co-COOs Werre and Kassler and North American CFO Colin Finkelstein. (New York Post -- News)
Coca-Cola's new director has alcohol-industry background Mar 10, 2010
From 2001 to 2006, she was executive vice president and chief financial officer of Brown-Forman, a manufacturer and marketer of alcoholic beverages such as Jack Daniel's whiskey. She was vice chairman of Brown-Forman from 2006 to 2008. (Atlanta Journal-Constitution -- Business)
Mazda Mining Phelps's Chinese Gold as Automakers Press for Brand Loyalty Mar 10, 2010
It is clear that brands are still in the forming process, said , chief financial officer for Volkswagen AGs China unit. One of the keys for success in China in the long run is brand building and brand establishment. (Bloomberg -- Japan)
Expect snow job from White House on jobs report Mar 10, 2010
So no matter how bad the weather, companies shouldn't have too difficult of a time delivering their data -- even if the CFO faxes the info while at home in his PJs ... What if a company to tally forgot to provide the government with data, maybe because the CFO was too busy shovel ing his driveway. (New York Post -- Business)
Pac-10 Appoints NFL Executive To General Counsel, VP Business Affairs Mar 10, 2010
Dixon is the conference's fifth new hire in the past six weeks, joining Deputy Commissioner/Chief Operating Officer Kevin Weiberg, Chief Financial Officer Ron McQuate, Chief Marketing Officer Danette Leighton and Senior Associate Commissioner/SWA Gloria Nevarez on the Pac-10 leadership team. The appointment is effective April 15, 2010. (Pac-10.org)
