Word: cfo
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...Meanwhile, Republican members of Congress, worried about wasteful spending, will continue their debate with the Bush administration over how to handle the aftermath of Hurricane Katrina. Sen. Tom Coburn has asked Bush to appoint a CFO to monitor Katrina spending, Sen. Judd Gregg continues to call for a separate government agency to oversee Gulf Coast reconstruction and Sen. Chuck Grassley wants to create special Medicaid funding for Katrina victims. The administration has declined to support any of these proposals...
Gradually, Disney's box-office magic evaporated; Treasure Planet, in 2002, cost about $140 million yet cadged only $38 million at the domestic wickets. Worse, relations with Pixar soured--though the premier CG studio may sign up with Disney again. Last week Disney CFO Thomas Staggs said the film division expected a loss of more than $250 million for the year's fourth fiscal quarter...
...previous boss took Nokia from creaky Finnish conglomerate to the world leader in mobile phones; Olli-Pekka Kallasvuo will have to make sure it stays there. As former head of the phone unit and CFO, Kallasvuo, 52, has the operational chops to succeed longtime CEO Jorma Ollila next June. But the landscape is far different from the one Ollila dealt with: cell phones are ubiquitous, sales are slowing, and margins are thinning. Nokia needs more cutting-edge products, as its two closest rivals, Motorola and Samsung, ramp up their attacks. Still, Kallasvuo is a good bet to answer that call...
SENTENCED. JOHN RIGAS, 80, ailing founder of U.S. cable giant Adelphia Communications, and his son TIMOTHY RIGAS, 49, its former CFO; to 15 and 20 years in prison, respectively, for their 2004 convictions for bank fraud, securities fraud and conspiracy; in New York City. In looting Adelphia of $100 million and hiding its $2.3 billion debt from investors, the Rigases pushed the firm into bankruptcy, gutting the savings of many small shareholders in its former hometown of rural Coudersport...
...execs are labeled “ex-nerds” and are repeatedly compared to a clique of popular high school students who terrorize their school. Enron CFO Andy Fastow is unfavorably compared to the Cheshire Cat, and the description of executive Lou Pai focuses more on his sexual deviancy than his fiscal misconduct...