Archive for February 2012

Inside job

Finance chiefs have experienced a massive fall in the availability of credit, and have battened down to use earnings to fund organic growth, with some focusing on productivity gains.

CFO Fast track

CFO moves at BP, ComSuper, South Boulder Mines, Marr Contracting and Engenco.

Cash return low, but prepare for opportunities

Despite a spike in sharemarket buybacks in 2011, for most CFOs it isn’t a priority this year, but if low valuations and volatile conditions continue it should remain a popular choice to boost returns to shareholders.

Who’s afraid of the big bad internet?

If the internet is threatening your business you need to fix the weakness it has revealed in your business, focus on what’s unthreatened and make the internet irrelevant customer’s experience.

Small opening for raising funds

For smaller companies, funding options are a mixed bag ranging from angel investors, private equity and banks to government grants, friends, family and followers.

Leadership, networking CFOs’ top skills priorities

The skills CFOs most want to improve upon are leadership, networking skills and improving staff performance, while they’re least concerned about investor relations, technology and confidence.

Bonding on debt

That old chestnut – what to do about the local corporate bond market – was cracked open again when finance chiefs attended a Credit Suisse round table.

Banking on peer payments

While most CFOs are focused on their day jobs, Tim Howard thinks differently.

Invest in your own direction

Taking on a board position can be the beginning of an exciting new portfolio career. More CFOs are beginning the journey while still in an executive role. Becoming a NED is no longer just a path to retirement.

No task too big for Lend Lease’s new finance chief

Lend Lease’s former head of strategy and M&A, Tony Lombardo, says as CFO he’s looking forward to making sure strategy is supported and realigning the finance team with the rest of the business.

Rules of engagement

What does it take to shift an established business online? We look at how different businesses are facing up to the challenge while ensuring they don’t isolate their customers.

Bring on the real European Union

The seeds of today’s crisis in Europe were sown two decades ago when the euro was created without fiscal union. The continent’s current debt dilemma provides the ideal opportunity to finish the job.

AGMs about to come under review

Advances in technology have challenged the need for a formal face-to-face annual general meeting and this trend will form part of an inquiry into how such forums are conducted.

Following the signs

Virgin Australia CFO Sankar Narayan is once again co-piloting a risky business, but he reckons the path to success is well mapped out – he just has to make sure it reaches the final destination on time.

Emphasis on cost cutting and productivity

Reducing costs and improving productivity are the two top priorities for respondents to the annual CFO Outlook Survey, followed by organic growth.

Productivity gains equals unemployment

There are signs companies are making improvements to productivity which has languished for the past decade, but in the short term that will lead to unemployment of around 6 per cent by the end of year, says Bank of America Merrill Lynch.

Top 50 find an extra $5.1b in working capital

Emeco Holdings was well ahead of the pack at improving working capital management in 2011.

Nobody wants to pay the phone bill

To better target tax concessions for charities government needs to account for the infrastructure costs of behind service delivery.

Charity begins with a definition

A new regulator to cover the not-for-profit sector is being set up to take over from ASIC but working out an acceptable definition of a charity may be its biggest challenge.

Keep your powder dry

Exposure to debt has returned as a concern in 2012 for larger companies seeking access to finance. So what do you need to do to minimise risk and get the best deal?

Beyond the ‘pail’

Understanding the revised standard on credit quality may be something you should start working towards, lest it end up as one of the aspirational goals on your ‘Bucket’ list a few years from now.

Southern comfort

Despite concerns Australian companies may get bumped by European issuers in the USPP market, American investors are still keen to lend to our corporates.

Not so super

The government needs to discover some regulatory courage to implement its financial advice reforms or risks perpetuating a system that rewards for returns little better or worse than a bank.

Value in the takeover detail

For most sectors, merging two companies is fiendishly complex and many fail. So what steps are needed to ensure a smooth and successful ‘legal day one’ of the new operation?

After the M&A; deal is done

UPDATE | The takeover of MYOB by Archer Capital and the subsequent doubling of its value is a good example of how a merger and acquisition should be conducted.

Finding the time

David Wilson, the new CFO of hospitality industry finance company Silver Chef give his tips on squeezing more into the same number of hours.

Keen eye on the horizon

The size of the US market still presents tremendous opportunities for local business, but cracking it can take many years of patience as West Australian ship builder Austal found.

Drilling for cash

Ernst & Young’s annual survey of S&P/ASX 200 companies for CFO reveals how the mining sector is driving an overall improvement in working capital. We look at the top 10 performers and some trends.

Reporting dispute body shut

Formal disputes over the application of accounting standards have been so low that the review body set up to hear them has been shut.

Integrated front

There are great hopes that integrated reporting will engender a transformation in how businesses are run, but we’re not hearing too many encouraging noises from finance chiefs on that score.

CFO Fast Track

Finance chief moves at Kellogg’s, i-Med, Deals Direct, Nine Entertainment, Mothercare and Westfield.

CFO Fast track

Neville Pozzi, the CFO of the Real Estate Institute of WA, will step up to the chief executive role in July. He’ll replace Anne Arnold, who has been in the role for eight years. She told CFO she had no immediate plans, but may take up some board positions. Pozzi has been working at the REIWA for 34 years.

What does half a mill buy?

Big four accounting firm contributions to political parties were $580, 000 plus in 2010-2011. In the AFR today Agnes King reports on who gave how much to whom and interviews lobbyist Justin Di Lollo, managing director of Hawker Britton about what the donors can expect for their money.

CFO Fast track

Former Lendlease CFO Brad Soller to take over as finance chief at David Jones

Finance roles OK, but bar raised

So far the demand for corporate finance roles is holding up despite the lay-offs across several sectors, but the supply of good candidates on the market is rising.

Local manufacturing still part of Austal’s plan

Austal’s main business is supplying warships to the US Navy, but company’s origins are as a ferry manufacturer and while manufacturing civilian vessels now only represents about 20 per cent of revenue, CFO Richard Simons says it is core to the overall strategy.

Retail investors getting smarter: NAB

The rise of self managed super funds (SMSF) is rapidly turning disinterested retail investors into sophisticated ones, creating at least one factor in favour of more retail debt issues, argues a NAB banker.

CFO Fast track

CFO moves for the week at ANZ Bank, David Jones, Ford, Energy Developments, the Real Estate Institute of WA and Central Asia Resources

CFO Fast track

Damien Peters swaps cafes for creches

Atlas Iron improves working capital

Chief financial officer, Mark Hancock shares his cashflow tactics.

Leighton’s deputy CFO retires

Leighton Holdings deputy chief financial officer Travis Young is retiring after 35 years on the job.

Aussie CFOs upbeat on economy

Australian finance chiefs are among the most optimistic in the Asia-Pacific about their country’s economic prospects but are gloomier than their Asian counterparts on the impact of global forces.

Level the debt equity burden, CFOs say

The peak CFO group says debt should be as easy to issue as equity to wholesale and retail investors and the ease of issuing debt here should be equivalent to markets offshore.

CFO Fast track

Centro Retail is on the look-out for a new CFO to replace Chris Nunn, which is one of the latest changes among Australia’s chief financial officers this past week.

Why adopt integrated reporting?

Video | KPMG senior director Nick Ridehalgh discusses integrated reporting and why CFOs should be looking to make the switch.

Record half year profits for Seek

Seek has reported growth in its half year results, but won’t be looking for more acquisitions just yet. The education business is still in consolidation mode.

More clarity on pay?

Comment | It should be easier to get a true picture of whether executive pay fits the performance of an executive’s company under changes to be introduced to the Corporations Act by the federal government.

Maine takes on top role at Pacrim Energy

As it ramps up into production mode WA gold explorer Pacrim Energy has boosted board member Mark Maine into a senior management role. Maine was previously managing director of Peak Resources.

NEDs call time on red tape

Non-executive directors have launched a new campaign against regulations they say are wasting too much time that could be better spent on actually running companies.

error: ContentHttpServletRequest:/eom/SysConfig/WebPortal/afr/blogs_jsp/blog_archive_row.jpt