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November 16, 2012
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Business Finance Today 
 
  • BP admits criminal liability in 2010 spill in Gulf
    BP has reached a plea agreement in which it admits criminal liability for the explosion and oil spill at its Macondo well in the Gulf of Mexico in 2010, settling charges including manslaughter and obstruction of justice for $4.5 billion. BP pleaded guilty to 12 felonies and two misdemeanors. Three BP employees could be sentenced to prison if convicted of charges made under a separate criminal complaint by the Justice Department. Houston Chronicle (11/15), The Telegraph (London) (tiered subscription model) (11/15), The Times-Picayune (New Orleans) (11/15) LinkedInFacebookTwitterGoogle+Email this Story
  • Chrysler expands U.S. production to keep up with demand
    Chrysler said it was increasing capacity of some U.S. plants because it couldn't keep up with sales of some of its more popular products. "Our biggest headache this year has been the shortage of 3.6-liter engines. We just can't make enough," said CEO Sergio Marchionne. Chrysler has announced more than $4.75 billion of investment in its U.S. facilities since June, he said. Detroit Free Press (11/16) LinkedInFacebookTwitterGoogle+Email this Story

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Your Bottom Line 
 
  • Survey: Changing jobs means bigger raises for finance execs once again
    The compensation boost that finance executives get when they change jobs is almost back to pre-crash levels, according to executive-recruiting company Salveson Stetson Group. Between 2010 and 2012, finance executives received a 26% increase in compensation when they moved to a new job. In 2008 and 2009, that increase was only 5%. In a separate survey by Accounting Principals, 44% of senior executives said they believe salaries for finance professionals will rise next year. CFO.com (11/15), Accounting Today (11/15) LinkedInFacebookTwitterGoogle+Email this Story
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In the C-Suite 
  • The myths of modern leadership
    People used to think the right and ability to lead was conferred by the gods -- and a number of similar myths still plague the modern workforce, writes Brian Evje. Ideas such as that leaders are born rather than made and that leaders should be fearless and infallible are among the damaging misconceptions about the nature of 21st-century leadership, Evje writes. Inc. online (free registration) (11/14) LinkedInFacebookTwitterGoogle+Email this Story
  • How to overcome negative thoughts and beliefs
    There are four simple steps to overcoming negative thoughts and beliefs, Kaihan Krippendorff writes: Identify the negative belief and identify the evidence that anchors it. Then, pick a new belief and look for alternative evidence that supports it. Fast Company online (11/15) LinkedInFacebookTwitterGoogle+Email this Story
On the Move 
  • Eric Elzvik is the new CFO of ABB. He has been with the company for about 30 years. Bloomberg Businessweek (11/15) LinkedInFacebookTwitterGoogle+Email this Story
  • Perley McBride has been named CFO for Leap Wireless. McBride was executive vice president of finance at The Weather Co., and will join Leap next month. Reuters (11/15) LinkedInFacebookTwitterGoogle+Email this Story
Off the Charts 
SmartQuote 
Fear is natural and necessary, and cannot be eliminated."
--Brian Evje, writing at Inc. online
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