Congress works to avert March 27 government shutdown | Corporate payroll lags behind profit | Sequestration might hit small-business lending
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March 4, 2013
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Business Finance Today
Congress works to avert March 27 government shutdown
Congressional leaders said they were optimistic a deal could be reached to avert a government shutdown when its funding authorization expires March 27. House Speaker John Boehner, R-Ohio, said he was "hopeful that the House and Senate will be able to work through this." There were no signs lawmakers will make any efforts to modify or undo across-the-board spending cuts that took effect Friday. The Washington Post (3/3), Los Angeles Times (tiered subscription model)/Politics Now blog (3/3), Politico (Washington, D.C.) (3/4)
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Corporate payroll lags behind profit
The Dow Jones industrial average rose to within 75 points of a record high last week, marking what has become a golden age of corporate profit while millions of Americans are still unable to find work. During the third quarter, corporate profit accounted for 14.2% of national income, the most since 1950. The portion of that income paid to workers was 61.7%, close to the lowest amount since 1966. The New York Times (tiered subscription model) (3/3)
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Your Bottom Line
Sequestration might hit small-business lending
Sequestration might affect small businesses' access to capital, especially companies that rely on Small Business Administration loan guarantees and businesses that serve the Department of Defense and its suppliers, according to this article. "If you're a lender working with a company working with the DoD, you have to be extra careful with your underwriting," said Cory Ross, vice president of sales and co-founder of BBC Easy. "But a lot of these small to midsize businesses live check to check, and even a 60- or 90-day delay [in getting a loan] might be enough to bury them." CFO.com (2/28)
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Financial regulators' budgets to be trimmed by sequester
Financial regulators, including the Securities and Exchange Commission and the Public Company Accounting Oversight Board, will be affected by the sequester. The PCAOB's budget may have to be revised, even though the SEC recently approved a 9% increase in its fees. Compliance Week/The Filing Cabinet blog (3/1)
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In the C-Suite
Words that should be banned from the C-suite
There are phrases and words you never say in the C-suite, writes Larry Bonfante, chief information officer of the U.S. Tennis Association. These include "cost" -- say "investment" instead -- "I think" and "We can't." "Language is a very powerful thing," Bonfante writes. "Words convey not only meaning, but emotions as well." EnterpriseEfficiency.com (2/25)
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25 ways to thank employees and still stick to a budget
Want to show appreciation for employees and not break a budget? Here are 25 low-cost suggestions to reward employees. Forbes (3/1)
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Off the Charts
Berliners demonstrate to keep their wall intact
Thousands of demonstrators in Berlin are calling for developers to not tear down the Berlin Wall and have successfully blocked a crane set from ripping out a section. Developers aim to build a high-rise, luxury apartment complex. USA Today (3/3)
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Most Read by CFOs
SmartQuote
Nothing shows weakness as a leader more than a lack of accountability."
-- Larry Bonfante, chief information officer of the U.S. Tennis Association, writing for Enterprise Efficiency
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