A CFO on a job hunt is responsible for spelling out what makes him or her valuable to a particular employer, Cindy Kraft writes. Prove you're an expert worth a premium paycheck, not a commodity, she writes.
Boeing and several other companies are voluntarily submitting details about their carbon dioxide emissions to the Carbon Disclosure Project in London, which produces industry "snapshots" and shows how a company compares with others in its sector. Experts hope the effort will encourage companies to change their energy consumption habits before their governments force them to do so.
U.S. companies have cut back sharply on capital spending, leading to a sharp increase in one measure of available cash, the Georgia Tech Financial Analysis Lab said in a report. "What is especially remarkable about the improvement in free-cash margin is that it is coming despite a continuing weakness in revenues," accounting professor and report co-author Charles Mulford said.
The amount of global outstanding corporate bonds, asset-backed securities and commercial paper decreased during the first half of the year, a first for the past 15 years, according to Mizuho Securities. The volume dropped from $53.2 trillion on June 30, 2008, to $52.9 trillion on June 30, 2009. "It's unprecedented that the global debt market shrinks," said Tetsuo Ishihara, a senior credit analyst for Mizuho. "When redemptions and buybacks are greater than new issues, the outstanding size can shrink, which appears to have happened here."
Robert Reoch, a credit derivatives consultant, uses a crash of a modified sports car as an analogy for the financial crisis and derivatives. Reoch explains that derivatives themselves are not to blame for the crisis. "As with so many things in life, accidents are mainly caused by the driver, not the vehicle," he writes.
Many fired CFOs say they never saw their pink slip coming, but you should, Cindy Kraft warns: "Every CFO is only as safe as a satisfied board, a congenial CEO, and a healthy bottom line." She suggests that you make a career-survival plan to be prepared for the possibility. "Wouldn't it be great to ... respond to a great opportunity rather than be forced to react to a pink-slip?" she writes.