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January 15, 2013 CONNECT WITH SMARTBRIEF Share | Sign up | Archive | Advertise Business Finance Today  Bernanke says economy still needs stimulus Federal Reserve Chairman Ben Bernanke said the central bank must stick with stimulus policies to help the U.S. economy get back on its feet. The job market has yet to show substantive signs of improvement, he said at the University of Michigan's Gerald R. Ford School of Public Policy. "We are still in a relatively fragile recovery," Bernanke said. Market News International (1/14), MarketWatch (1/14), Crain's Detroit Business (free registration) (1/14)       UPS abandons $6.9B bid for TNT to avoid antitrust fight UPS said it is giving up an effort to buy TNT Express for $6.9 billion after European antitrust regulators hinted that they would block the deal. UPS was looking to increase its presence in emerging markets and Europe. The New York Times (tiered subscription model)/Deal Book blog (1/14), The Commercial Appeal (Memphis, Tenn.) (free registration) (1/15)       Your Bottom Line  2012 brought raises for many internal auditors, survey finds Internal auditors were more likely to receive a pay raise last year than were nonaudit workers, according to a survey from the Institute of Internal Auditors. The study of companies that employ auditors found that 35% increased salaries for all employees, while 64% increased salaries for all internal auditors. This year, the median increase in base pay for internal auditors is expected to be 3%. The Wall Street Journal/CFO Journal (tiered subscription model) (1/11)       IRS rules address how to correct employee retirement plans Internal Revenue Service rules specify how to correct employee retirement plans that don't comply with the tax code. The rules address 403(b) plan failures, the Voluntary Correction Program and safe-harbor correction methods and fee structures. Accounting Today (1/11)       In the C-Suite  Beef up bench strength with smarter hiring Bench strength is critical for adapting to changes and being more innovative, so develop a more qualified workforce by hiring "the perfect match and don't fall prey to the 'we just need someone' syndrome," writes Russell Glass, CEO of business marketing company Bizo. He also advises making hires of people who are a cultural fit and being transparent with employees because they will help make smarter decisions for the organization, he writes. VentureBeat (1/13)       Before hiring, find out how people act around their spouse When Harman International Industries CEO Dinesh Paliwal wants to make a hire, he takes the candidate and that person's spouse out for dinner. It's a chance to watch how the couple interact but also to see whether the potential hire answers questions differently when watched by a loved one. "I learn things that I couldn't learn any other way. ... It's amazing what you learn," Paliwal says. The New York Times (tiered subscription model) (1/12)       On the Move  Ronald Alexander has been named executive vice president and CFO at Dovel Technologies. Alexander was a consultant for Dovel. Washington Technology (1/14)       Kevin Bradley will become CFO at Terex. Bradley is president of the company's Cranes division. The Motley Fool (1/14)       Jared DiPalma has been promoted to CFO of NBC Universal Entertainment & Digital Networks and Integrated Media. He was senior vice president of finance at the unit. The Hollywood Reporter (1/14)       Andrew Wade is AtriCure's new CFO. He has been with company for five years on the finance and accounting team. American City Business Journals/Cincinnati (1/14)       Off the Charts  Cat outpicks humans in stock-selection contest A tabby cat has topped investment professionals in a stock-picking contest. The cat, Orlando, picked his stocks by dropping his favorite toy mouse on a grid of numbers that corresponded to different stocks. The investment professionals picked their stocks using more conventional means. The Observer (London) (1/12)       SmartQuote  The increased emphasis on regulatory compliance and financial controls makes internal audit's role more important now [than] it has ever been." --Daniel Zeppetello, audit manager at Alliance Bank, as quoted by The Wall Street Journal's CFO Journal       SmartBrief delivers need-to-know news in over 100 targeted email newsletters to over 3 million readers. All our industry briefings are FREE and open to everyone—sign up today! 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