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April 24, 2012
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Business Finance Today 
  • Economic recovery requires fresh tactics, experts say
    Authorities worldwide have spent a staggering amount of money, estimated at more than $14 trillion, to rescue the economy since the beginning of the Great Recession. However, some experts warned that keeping the spigots open will not resolve the issues. "The real solution has to do with the fiscal and structural reforms that address the real causes of this crisis, particularly in Europe, but also elsewhere," said Singaporean Finance Minister Tharman Shanmugaratnam. "The firewall is absolutely essential, but by itself it is not sufficient, and the real solutions require attention." Reuters (4/23) LinkedInFacebookTwitterGoogle+Email this Story
  • Small businesses take a beating from rising gasoline prices
    Small businesses in the U.S. are suffering disproportionately from rising gasoline prices because they don't have the market power enjoyed by bigger companies to pass along higher costs to their customers, experts said. In a survey by the National Federation of Independent Business, the owners of small businesses said fuel costs are their top problem. (4/23) LinkedInFacebookTwitterGoogle+Email this Story
  • Medicare test project wastes $8.3 billion, GAO says
    The U.S. should shut down a wasteful and ineffective Medicare test project that is set to cost taxpayers $8.3 billion over 10 years, the Government Accountability Office said in a report. The Medicare Advantage program was intended to pay bonuses for high-quality care, but GAO investigators said most of the money is going into "average-performing plans" that fall short of quality standards established by Congress. The New York Times (tiered subscription model) (4/22) LinkedInFacebookTwitterGoogle+Email this Story
Your Bottom Line 
  • Hiring and salaries are set to increase, survey says
    Nearly 40% of companies expect to see hiring increase in the next six months, an increase of 12 percentage points since January, according to a survey by the National Association of Business Economics. Also, about 45% of respondents said workers' salaries are increasing, up from about 25% three months ago. CNBC/Reuters (4/23) LinkedInFacebookTwitterGoogle+Email this Story
  • Due diligence is key to avoid corporate fraud
    Finance chiefs should conduct due diligence to ensure that new employees or acquisitions are what they claim to be, Ken Springer writes. For employees, key information includes education, professional licenses and employment records. Executives should scrutinize potential acquisitions for legal and regulatory blemishes and to ensure that their business has sufficient compliance practices in place. "Having a strict policy of vetting employees and management teams up front will minimize fraud down the road," Springer writes. (4/23) LinkedInFacebookTwitterGoogle+Email this Story
In the C-Suite 
  • Are you doing enough to promote new managers?
    A dearth of management talent is preventing companies from innovating and expanding into new markets, according to a survey of CEOs. Senior leaders can turn the tide by committing to training the next generation of managers, John Baldoni writes. The key is to be proactive about retaining promising employees and rewarding them for taking on important roles. "Now is the time to capitalize on identifying, promoting, and developing capable managers," Baldoni writes. CBS MoneyWatch (4/23) LinkedInFacebookTwitterGoogle+Email this Story
  • Why company culture should be your first priority
    Derek Irvine summarizes some lessons from legendary CEO Jack Welch on the importance of corporate culture. Building a good culture takes more than the occasional talk or motivational poster; managers need to focus on recognition and making the company's values a part of the everyday work environment. Most importantly, they shouldn't hesitate to enforce the norms -- even against high-performers. (4/23) LinkedInFacebookTwitterGoogle+Email this Story
Featured Content 

On the Move 
  • Brian Taylor has been named CFO of retailer Conn's. He was finance integration manager at Schlumberger. TWICE (4/23) LinkedInFacebookTwitterGoogle+Email this Story
  • Robert McNamara has been named CFO of medical-device company LDR Holding. He replaces Dennis Hynson, who will become senior vice president of global finance. American City Business Journals/Austin, Texas (4/23) LinkedInFacebookTwitterGoogle+Email this Story
  • Jerry Elliott has been appointed CFO of Leap Wireless International. He was CFO and chief administrative officer at The Weather Channel. ABC News/The Associated Press (4/23) LinkedInFacebookTwitterGoogle+Email this Story
Off the Charts 
  • E-mail error sends goodbye message to 1,300 employees
    Aviva Investors' employees received an unexpected farewell as the result of an errant e-mail. The message, which was intended for one departing employee, accidentally went to 1,300 Aviva workers worldwide. It gave instructions for turning in equipment and other post-employment details. Human resources recalled the e-mail and apologized for the mistake. Stuff (New Zealand)/Reuters (4/23) LinkedInFacebookTwitterGoogle+Email this Story
The war for talent has moved from the back-burner to the front. As a result, those who recruit must up their game if they expect to hang on to their good people."
--John Baldoni, writing at CBS MoneyWatch
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