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December 6, 2012
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Business Finance Today 
  • Some House Republicans back higher tax rate for wealthy
    President Barack Obama's call for increasing the tax rate for 2% of America's wealthiest is drawing some support from House Republicans. They urge House Speaker John Boehner to accept the increase in return for new limits on federal retirement and health care programs. "I and some others are advocating giving the president what he wants," said Rep. Steven LaTourette, R-Ohio. The Washington Post (12/5), Reuters (12/6), The Hill (12/5) LinkedInFacebookTwitterGoogle+Email this Story
  • Citi will lay off 11,000 in global downsizing
    Citigroup says it will eliminate 11,000 jobs and shrink operations worldwide. The measures mark new CEO Michael Corbat's first moves to improve the bank's financial performance. During the past year, Citi's profitability has been less than half of JPMorgan Chase's. The Guardian (London) (12/5), Bloomberg (12/6) LinkedInFacebookTwitterGoogle+Email this Story
Your Bottom Line 
  • Skills that bank CFOs need to be more marketable
    Community banks are looking for finance chiefs with a more sophisticated range of capabilities, as the financial crisis has highlighted the need for a broader view of the market and the CFO's responsibilities, Jackie Stewart writes. Focusing on emerging compliance issues and the ability to contribute to strategic decision making can make a CFO more marketable, Stewart writes. AmericanBanker.com (free registration) (12/5) LinkedInFacebookTwitterGoogle+Email this Story
In the C-Suite 
  • Companies should act more like countries, Google chairman says
    Google and Apple have had their differences, but both companies are run by grownups and are able to work together when it serves their interests, Google Chairman Eric Schmidt says. "The adult way to run a business is to run it more like a country. They have disputes, yet they've actually been able to have huge trade with each other. They're not sending bombs at each other," Schmidt says. The Wall Street Journal (12/4) LinkedInFacebookTwitterGoogle+Email this Story
  • How to mix business and pleasure at the holidays
    This holiday season, set yourself the goal of acting like a rock star at all the personal and professional gatherings you attend, advises Baron Christopher Hanson. That means turning up with a bottle of something special, smiling, speaking positively and earning yourself a reputation for working holiday-season miracles when things go wrong. "Rock stars acquire and install solutions quickly and quietly," Hanson writes. SmartBrief/SmartBlog on Leadership (12/4) LinkedInFacebookTwitterGoogle+Email this Story
Off the Charts 
  • How this restaurant handles negative Yelp reviews
    San Diego restaurant Craft & Commerce broadcasts readings of bad Yelp reviews to patrons using its restrooms. "We just thought that some of the reviews on Yelp were so melodramatic," Craft & Commerce co-owner Arsalun Tafazoli says. "The way these reviews are written, it's like people are appalled at something we've done. So we thought this was a funny way to respond." Yahoo/The Sideshow blog (12/5) LinkedInFacebookTwitterGoogle+Email this Story
SmartQuote 
Historically, CFOs were really chief accounting officers. It's been an evolution from being just an accountant to someone who understands risk management and finance."
--D. Anthony Plath of the University of North Carolina at Charlotte, as quoted by American Banker
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