FairPoint awards options to new CEO Jul 3, 2009
Hauser, formerly chief financial officer at has been a member of FairPoint s board since February 2005, serving as a director, chairman of the compensation committee and a member of the audit committee. He assumed his new responsibilities at FairPoint upon Gene Johnson s retirement Wednesday. (Charlotte Business Journal, NC)
Comporium elects corporate officers Jul 3, 2009
Robertson joined the company as vice president and chief financial officer in August 2006. In addition to his responsibilities as corporate treasurer, Robertson will continue as executive vice president and chief financial officer. (Charlotte Business Journal, NC)
Petrobras Bonds Advance After $1.25 Billion Debt Sale Re-Opening Yesterday Jul 3, 2009
5 billion bridge loan by selling debt in tranches, Chief Financial Officer said June 23. China is willing to lend the company more than the $10 billion already agreed to in exchange for it buying more Chinese goods, Barbassa said. (Bloomberg)
Dorsett plans 10 more hotels in Malaysia Jul 3, 2009
Tang, formerly the chief financial officer of Malaysian Land Properties Sdn Bhd, was appointed president of Dorsett International in early January to oversee the management of the companys five hotels in Malaysia. He said Dorsett International was undertaking a rebranding exercise to consolidate its operations. (The Star Online, Malaysia)
GMR Infra calls off Rs 2k cr QIP Jul 3, 2009
We did not want to raise a smaller quantum as it will not meet our objective of raising growth capital, CFO A Subba Rao told ET. We will now time it appropriately, he added. The QIP, which was meant to raise money in preparation for likely new infrastructure projects, was launched on Monday night. (India Times)
Tech Mahindra up 1 pc on BSE Jul 3, 2009
"Tech Mahindra has not received a significant response to its tender offer to purchase 20 per cent of Satyam Computer Services from the shareholders," Tech Mahindra's Chief Financial Officer Sonjoy Anand had said yesterday. Read business stories in. (India Times)
Stanford CFO to plea guilty Jul 3, 2009
The attorney for former CFO James Davis said Thursday his client intends to plea guilty to three criminal counts for his part in an alleged $7 billion Ponzi scheme. Dallas attorney David Finn said his client James Davis will appear for his arraignment in federal court on July 13. (Dallas Business Journal, TX)
Studio featured on 'Queer Eye' ready to sell its shares Jul 3, 2009
The planned IPO "is something we've been working toward. We're excited about our potential," Chief Financial Officer David Barnard said. The company said that CIBC World Markets Corp. will lead its IPO, with shares of the deal also going to William Blair nd SG Cowen Securities. (Yahoo News -- Queer Eye for the Straight Guy)
Iraq's Unsold Oil Fields Jul 3, 2009
"This is the creation of a regional giant," says Heritage's chief financial officer, Paul Atherton. On June 25, China's Sinopec agreed to acquire Addax for $7. (BusinessWeek)
Murdoch's Sky Deutschland Pay-TV Struggle May Curb Ambitions in Europe Jul 3, 2009
Sky Deutschland Chief Executive Officer , formerly News Corp.s chief financial officer for Europe and Asia, took charge in September and wants to spend about 100 million euros on advertising the new name. Williams told reporters in June that he doesnt see any reason why Sky Deutschland wont have as much as 20 percent of German households as subscribers in a couple of years. (Bloomberg)
Manufacturing/Technology Jul 3, 2009
GLYNIS BRYAN received a bachelor's degree in psychology, but today she's the chief financial officer of Tempe-based Insight Enterprises Inc., a Fortune 500 company. Top 10 Lists. (AZCentral -- Business)
Fortis rights issue likely in end July: CFO Jul 3, 2009
NEW DELHI: Hospital chain Fortis Healthcare Ltd expects to launch a 10-billion-rupee rights issue in July, its finance chief said on Tuesday. "What appears to us is that by end of July, we should be able to open the issue," Yogesh Sarin said over the telephone. (India Times)
MTG Refinances SEK 3.0 Billion Loan Facility Jul 3, 2009
Mathias Hermansson, Chief Financial Officer, commented: We are delighted to have been able to successfully refinance this facility ... Modern Times GroupMathias Hermansson, Chief Financial OfficerTel: +46 (0) 8 562 000 50orInvestor st Enquiries:Matthew Hooper: +44 (0) 7768 440 414Email: orMedia Enquiries:Bert Willborg +44 (0) 791 2280 850Email. (Yahoo! Wire -- Entertainment News)
Friedman's uncovers theft rings Jul 3, 2009
David Proctor, chief financial officer for Friedman's, said he believes the thefts have been going on for a year to a year-and-a-half. "We have active inventory control in all our stores and we began to notice that Sonoma losses were much higher than the other stores.". (Sonoma Index-Tribune, CA)
> Corefino's chief learned agility from years as a startup CFO Jul 3, 2009
Corefino's chief learned agility from years as a startup CFO - Silicon Valley / San Jose Business Journal ... Corefino's chief learned agility from years as a startup CFO. (San Jose Business Journal, CA)
Arlington Public Schools daycare program in flux Jul 3, 2009
In total, the daycare took in about $170,000 in revenue this current fiscal year, about 91-percent of which went toward salaries, said Sue Mazzarella, the district s chief financial officer. Because it is an enterprise fund, the daycare cannot run at a deficit, and needs to pay all of its costs including healthcare and rent using the roughly $12,000 annual tuition from participating teachers. (Arlington Advocate, MA)
Business Briefs Jul 3, 2009
Aaron J. Clark has been named president and chief executive officer of Monarch Wealth Strategies in Santa Barbara, and Vanessa L. Patterson has been named chair of the board of directors and chief financial officer. Also the principal and co-founder of the company, Clark is responsible for the direction, strategy and focus of the firm. (Lompoc Record, CA)
Walter H. Jones Jul 3, 2009
He served as chief financial officer and problem-solver. He was an avid supporter of the Boy Scouts all his life. (Corvallis Gazette Times, OR)
Constellation Brands 1Q profit drops 85 percent Jul 3, 2009
Sales of beer, though, were hurt by fewer customers buying Corona bottles at bars, restaurants and convenience stores, said Chief Financial Officer Bob Ryder. Corona is higher priced than some domestic brews. (Yahoo News -- Press Releases)
Judge will consider Stanford request for money Jul 3, 2009
The former chief financial officer of indicted Texas financier R. Allen Stanford's business empire will plead guilty to charges alleging he helped swindle investors out of $7 billion, his attorney said Wednesday. James M. Davis, 60, Stanford Financial Group's ex-chief financial officer, reached a deal with prosecutors in which he'll plead guilty to three counts he faces as part of the federal government's criminal case against the Texas financier, attorney David Finn said. (Fresno Bee -- Business)
5-Star Stocks Poised to Pop: Waste Management Jul 3, 2009
CFO Robert Simpson (since 2004). Return on Equity (average, last three years). (MSNBC -- Business)
Medialink Worldwide Extinguishes Subordinated Debentures Jul 2, 2009
"Acknowledging the rough economic environment and the financial condition of the Company, the debenture holders were willing to take a substantial discount on the extinguishment of their debt," said Kenneth Torosian, Chief Financial Officer of Medialink. "Extinguishing the debentures allows us to more vigorously pursue various strategic alternatives, but also puts additional time pressure on us achieving success in such efforts as the repayment required use of a significant portion of our cash... (Yahoo! Wire -- Entertainment News)
Unwinding AIG Prompts Pasciucco to Ponder Trades Risking Systemic Failure Jul 2, 2009
Working with Savage was chief financial officer. As part of his duties, Cassano, part of the original Drexel team, ran the firms back office, the operational part of the business that settles trades and deals with accounting matters. (Bloomberg)
New FairPoint CEO seeks to avoid bankruptcy filing Jul 2, 2009
Hauser took over as Fairpoint's chairman and chief executive officer after working for 35 years at Duke Energy Corp., most recently as its chief financial officer. He replaces FairPoint co-founder Eugene Johnson, who retired Tuesday. (Concord Monitor)
Constellation Brands 1Q profit drops 85 percent Jul 2, 2009
Sales of beer, though, were hurt by fewer customers buying Corona bottles at bars, restaurants and convenience stores, said Chief Financial Officer Bob Ryder. Corona is higher priced than some domestic brews. (Yahoo News -- Press Releases)
Judson Green joining Hewitt board Jul 2, 2009
He previously served as president and chairman of Walt Disney Theme Parks and Resorts and chief financial officer of Walt Disney Co.. Green also sits on the boards of DreamWorks Animation SKG Inc. and Harley-Davidson Inc.. (Crain's Chicago Business)
Boeing may buy 787 parts plant: report Jul 2, 2009
The Boeing Company (Boeing) is involved in the design, development, manufacture, sale and support; W. James McNerneyChairman of the Board, President, Chief Executive Officer James BellCorporate President, Chief Financial Officer, Executive Vice President From The Lists Your resource for everything related to business in Chicago. 2. (Crain's Chicago Business)
County gets five bids for industrial park Jul 2, 2009
I m pleased I got five responses, says Sedgwick County CFO Chris Chronis, who is heading up the effort for the industrial park, where the county had established a July 1 deadline for bids. I would have been equally pleased if I had gotten more. (Wichita Business Journal, KS)
Walter H. Jones Jul 2, 2009
He served as chief financial officer and problem-solver. He was an avid supporter of the Boy Scouts all his life. (Corvallis Gazette Times, OR)
Arms dealer gets 25 years in NYC terror case Jul 2, 2009
- Andrew Fastow, 47, Enron's former CFO, pleaded guilty to conspiracy in 2004 and sentenced to six years. The federal bureau of prisons lists his projected release date as Dec. 17, 2011. (Fresno Bee -- Nation)
Why Walgreens Is Building Its Own Universal Health-Care System Jul 2, 2009
"What ends up happening is people become more loyal to Walgreens," CFO Wade Miquelon told the audience at the company's annual shareholder meeting in January. That's exactly the kind of allegiance it's counting on. (FastCompany)
With the 2010 budget preparation around the corner, GRF Board sets parameters Jul 2, 2009
The budget will use unit price projections prepared by the CFO for common commodities such as fuel, utilities, and postage, for use in preparing department or division budgets. For any proposed new or augmented program, including those initiated by Board action, the responsible department must describe and justify the new program and quantify the cost. (Walnut Creek Rossmoor News, CA)
Market Forecaster Jul 2, 2009
Christopher Donahue, the CEO of Federated Investors Inc., and his brother, Chief Financial Officer Thomas Donahue, offered the most in three years. Sales by CEOs, directors and senior officers have accelerated to the highest level since June 2007, two months before credit markets froze, as the Srebounded from its 12-year low in March. (Midwest Bulls Eye, NE)
REGION: San Diego County needy won't see IOUs Jul 2, 2009
San Diego County residents participating in CalWORKs, a welfare-to-work program for poor families, will continue to receive assistance, county Chief Financial Officer Donald Steuer said. Other social services administered by the county, such as alcohol and drug treatment programs and mental health services, also will see no immediate cuts, he said. (North County Times)
Stanford exec makes plea deal Jul 2, 2009
The former chief financial officer of indicted Texas financier R. Allen Stanford's business empire will plead guilty to charges alleging he helped swindle investors out of $7 billion, his attorney said Wednesday ... James M. Davis, 60, Stanford Financial Group's ex-chief financial officer, reached a deal with prosecutors in which he'll plead guilty to three counts he faces as part of the federal government's criminal case against the Texas financier, attorney David Finn said. (San Francisco Chronicle -- Business)
State funding delays weigh heavily on Illinois schools Jul 2, 2009
2 million in transportation money doesn't arrive this month, Unit 5 may have to borrow to pay its bus leases, said Jim Gillmeister, Unit 5's chief financial officer. "I think its coming it's just a matter of when," Unit 5 Superintendent Gary Niehaus said of state funding. (The Pantagraph newspaper)
Albany Intl Corp. names new CFO Jul 2, 2009
Albany Intl Corp. names new CFO - The Business Review (Albany) ... Albany Intl Corp. names new CFO ... We could not ask for a more suitable successor to the CFO position, said Erland Kailbourne, chairman of Albany International s board of directors. (Albany Business Review, NY)
Why VW and Porsche are On a Collision Course Jul 2, 2009
Wiedeking and Porsche CFO Holger H. rter have been amassing the VW stake through a sophisticated options-trading strategy that has provided the company with massive profits over the past three years, as well as giving them ownership of VW. But it has also ballooned Porsche's debt to $12. (Time.com)
Tech Mahindra up 1 pc on BSE Jul 2, 2009
"Tech Mahindra has not received a significant response to its tender offer to purchase 20 per cent of Satyam Computer Services from the shareholders," Tech Mahindra's Chief Financial Officer Sonjoy Anand had said yesterday. Read business stories in. (India Times)
Silicon Valley nonprofits brace for budget aftershocks, IOUs Jul 2, 2009
CFO Ira Holtzman said the agency is large enough and financially stable enough that he would just book an IOU as accounts receivable and hope the money came through eventually. The Health Trust s budget for fiscal year 2010 is more than $16 million, Holtzman said. (San Jose Business Journal, CA)
On the sidelines of invest in Malaysia Jul 2, 2009
ASTRO ALL ASIA NETWORKS PLC expects to continue experiencing healthy customer growth, says group chief financial officer Grant Ferguson. Customer growth in the past five or six quarters has been very healthy and that will continue for the foreseeable future, he said yesterday. (The Star Online, Malaysia -- Business)
Northern Rand Resource Corp. Announces Appointment of Director and CFO Jul 2, 2009
His experience includes positions with Canadian Forest Products, Balco Industries Inc., McIntyre Mines Limited, and Napier Environmental Technologies Inc. Mr. Grinnell is currently the CFO of Rainy River Resources Ltd.. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. (CCNMatthews Press Releases)
Business Briefs Jul 2, 2009
Aaron J. Clark has been named president and chief executive officer of Monarch Wealth Strategies in Santa Barbara, and Vanessa L. Patterson has been named chair of the board of directors and chief financial officer. Also the principal and co-founder of the company, Clark is responsible for the direction, strategy and focus of the firm. (Lompoc Record, CA)
•Schools getting more money, but face budget woes Jul 2, 2009
44 percent increase next year, chief financial officer Paul Gabriel said. "Generally, this is going to be a very, very difficult budget for us to deal with," Gabriel said. (The Daily Journal)
Former HealthSouth Executive Gets Prison Time Jul 2, 2009
McVay has said he was promoted to chief financial officer at HealthSouth in late 2002 and signed a phony earnings statement rather than lose his job, which paid him $400,000 a year. Scrushy was acquitted of criminal charges, but a judge ruling in a shareholder lawsuit last month held him liable for the fraud and ordered him to pay $2. (ABC News -- Wire)
Family, friends bid farewell to Fawcett Jul 2, 2009
Vibe Media Group chief financial officer Angela Zucconi said most of the company's 50 or so employees will be laid off. The closing comes amid a media-wide decline in ad revenue that has left many magazines struggling. (Honolulu Advertiser)
Kozlowski sentenced to up to 25 years in prison Jul 2, 2009
Kozlowski gets up to 25 years Mark Swartz, former Tyco CFO, also gets 8-1/3 to 25; both men fined, handcuffed, sent to jail ... Former Tyco CFO Mark Swartz got the same sentence from Manhattan Supreme Court Judge Michael Obus. (Yahoo News -- Tyco)
Sing00004000h Hangs Up Stanford Logo Jul 2, 2009
Meantime, Stanford's CFO James Davis is expected to plead guilty as part of the federal probe into the company. lect. (New York Post -- Business)
Paragon Shipping Inc. Announces New Two Year Charter Agreements for Calm Seas and Coral Seas Jul 2, 2009
Contacts: Christopher Thomas, Chief Financial Officer, Paragon Shipping Inc., 15 Karamanli Ave., GR 166 73, Voula, Greece. Tel: +30-210-8914-600. (PR Newswire)
Mark E. Pape Appointed to the Board of Directors of Specialty Underwriters' Alliance, Inc. Jul 2, 2009
Mr. Pape previously served as a director and Executive Vice President and Chief Financial Officer at Affirmative Insurance Holdings, Inc. He has also held positions in several other insurance companies, including Torchmark Corporation and American Income Holding, Inc. ... Mr. Jokiel resigned as a director pursuant to that agreement, but he continues to serve as the Company's Executive Vice President and Chief Financial Officer. (PR Newswire)
Kent Holloway of Ohio Receives Achievement Award From Organ Donation Association Jul 2, 2009
Mr. Holloway is currently serving as the Chief Executive Officer of the Lifeline of Ohio Organ Procurement Agency (LOOP), where he previously served as their Chief Financial Officer (2000-2002). Holloway was also instrumental in the launch of the Indiana Organ Procurement Organization, Inc. and acted as their Vice President of Finance and Operations. (PR Newswire)
Stanford's number two man cooperating with prosecutors in Ponzi case Jul 2, 2009
Video: Stanford Ponzi Case Stanford's CFO cooperating July 1, 2009. There is a reason you did not see James Davis marching in or out of the federal courthouse last week with the four other Stanford executives charged in the massive financial fraud. (KHOU.com, TX)
WFU Baptist hires first CFO Jul 2, 2009
The new CFO is Edward Chadwick, who most recently was chief financial officer at Trinity Health in Novi, Mich. Trinity is the fourth-largest Catholic health care system in the country, with about $6 billion in revenue, the announcement said. (Business Journal of the Greater Triad Area)
Celanese amends credit facility Jul 2, 2009
With Celanese s strong cash position, we currently do not foresee a need to use the facility, however, given the economic environment, we believe that this amendment is prudent and enables us to preserve our existing sources of additional liquidity, said Steven Sterin, senior vice president and chief financial officer. Reader Comments. (Dallas Business Journal, TX)
Studio featured on 'Queer Eye' ready to sell its shares Jul 2, 2009
The planned IPO "is something we've been working toward. We're excited about our potential," Chief Financial Officer David Barnard said. The company said that CIBC World Markets Corp. will lead its IPO, with shares of the deal also going to William Blair nd SG Cowen Securities. (Yahoo News -- Queer Eye for the Straight Guy)
Success by design: Architectural firm CFO wins top honor Jul 2, 2009
Blake Wright, President and former CFO, Architectural Design West, talks during an interview Wednesday ... It was tough, Wright said, explaining that he became CFO after the business president was fired for financial improprieties ... When discussing his recent inclusion on Utah Business magazine s recent CFO of the Year list, Wright gives his co-workers much of the credit. (Logan Herald Journal, UT)
Cumulus Media Inc. Announces CFO Resignation Jul 2, 2009
J.P. Hannan, currently Vice President and Controller of the Company, will serve as the Companys Interim CFO. Mr. Hannan previously served as CFO of Lincoln National Corp.s radio division, was a member of the Board of Directors of Regent Communications, Inc. where he served on the audit and compensation committees, was COO/CFO of Lambert Television, Inc., and is currently on the Board of Directors of Asian Media Group, a portfolio company of Leonard Green Partners. Related Quotes. (Yahoo! Wire -- Entertainment News)
Freight train derails, kills 14 in Italy Jul 1, 2009
CFO Werner Mitteregger added he did not have any details on what caused the accident. He said a company representative has been sent to Viareggio to gather information. (USA Today)
George steps down as CEO of Indy Motor Speedway Jul 1, 2009
Longtime IMS executives Brighton and Belskus will take over the leadership roles, with Bright, currently executive vice president and chief legal counsel, becoming president and CEO of Hulman & Company and Belskus, currently executive vice president and chief financial officer for the companies, becoming president and CEO of the Indianapolis Motor Speedway Corp.. "Tony will remain on the board of directors of all of our companies, and he will continue to work with the entire board to advance the... (USA Today -- Sports)
China Development Bank Plans to Open Rio Branch, Expand Lending in Brazil Jul 1, 2009
Petrobras Chief Financial Officer said this week the Chinese lender is offering more loans if the oil company agrees to buy Chinese goods. In Brazil, the Chinese bank also has expressed interest in investing in projects related to the 2014 World Cup soccer tournament and Rio de Janeiros bid for the 2016 Olympics, Cabral, who is visiting China, said in the statement. (Bloomberg)
How To Tell When a Mall Is In Trouble Jul 1, 2009
To gauge the damage, U.S. News asked Steve Sterrett, chief financial officer of Simon Property Group, the nation's biggest mall operator, about the retail economy, prospects for a recovery, and the signs of a troubled mall. Excerpts. (Yahoo News -- Top Stories)
Vote moves convention center hotel forward Jul 1, 2009
In all, according to a breakdown by D.C. Chief Financial Officer Natwar Ganrhi, the city would provide 38 percent of the cost of the hotel, while the developers and their investors would provide 62 percent, either through equity or debt financing. Reader Comments. (Washington Business Journal, DC)
Apollo Group shares up on earnings report Jul 1, 2009
"We are comfortable with our current bad-debt levels," Chief Financial Officer Brian Swartz said. Another potential trouble spot: Apollo is close to bumping up to the government's limits on how much of its revenue can come from federal financial-aid programs. (AZCentral -- Business)
Business Briefs Jul 1, 2009
Aaron J. Clark has been named president and chief executive officer of Monarch Wealth Strategies in Santa Barbara, and Vanessa L. Patterson has been named chair of the board of directors and chief financial officer. Also the principal and co-founder of the company, Clark is responsible for the direction, strategy and focus of the firm. (Lompoc Record, CA)
MMC approves budget Jul 1, 2009
The projected budget for 2010, presented by Chief Financial Officer Rhett Fricke, forecasts a decrease in net assets of $304,000. The budget is based on past years and the first five months of this year. (Port Lavaca Wave, TX)
