Overtime Pay Rule to Have Limited Impact on Kroger, CFO Says
The recently announced federal overtime-pay threshold will have little effect on expenses at supermarket operator Kroger Co., according to finance chief Mike Schlotman.
CFO Journal
Debt
Record Corporate Cash May Hide Debt Hazard
The focus on rising corporate cash balances masks a bigger problem: debt. While the total amount of cash and other investments on the books at nonfinancial companies rose 1% last year to $1.84 trillion, total debt grew roughly 15% to $6.6 trillion, according to new research from S&P Global Ratings.
CFO Moves
CFO Moves: Concho Resources
Concho Resources named a new finance chief.
CFO Lessons
Juniper Networks CFO: The First 100 Days
Ken Miller has more than a decade of experience at Juniper Networks Inc. Yet the first 100 days of his tenure as finance chief has been a lesson in strategic planning.
CFO Moves
CFO Moves: Advance Auto Parts, Bunge, Athenahealth
Advance Auto Parts' finance chief is stepping down; Bunge's CFO is retiring; Athenahealth named a new CFO.
Governance
European, North American Firms Split on ESG Criteria
European investors care most about environmental issues, while U.S. ones prefer to make sure governance is top notch.
Currency
TJX, Children’s Place Face Forex Headwinds Amid Higher Earnings
Two apparel retailers, TJX Cos. and Children’s Place Inc., battled currency-related headwinds in their first quarter while still managing to post higher earnings in a challenging shopping environment.
Corporate Excuses Abound in Tough Times
When hard pressed on pointed questions, particularly from investors, executives frequently respond with answers that are least likely to cause concern.
Big Number
Total market capitalization of the West African Regional Stock Exchange in 2015: $15.1B
Hugo Boss Names Mark Langer CEO
German fashion retailer Hugo Boss will have a new chief executive when it holds its annual shareholder meeting Thursday, after a subcommittee of its supervisory board on Monday proposed Chief Financial Officer Mark Langer to the post.
Earnings
J.C. Penney CFO Pins Sales Miss on Weather, Spending Shifts
J.C. Penney Co. finance chief Edward Record said unseasonal winter weather and changes to how consumers spend their cash hit the retailer’s first quarter sales and earnings, but cost cutting efforts tempered the sting.
Latest News
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Three Must-Read Stories: The Weekend Reader WSJ
Charities aid drug-company profits; low pay fuels the skills gap; releasing everyone's tax returns.
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U.S. Stocks Rebound WSJ
U.S. stocks rose Friday as investors settled into heightened expectations that the Federal Reserve will raise rates this summer.
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Bayer’s Monsanto Bid Faces Hurdles WSJ
Bayer’s offer to buy Monsanto, on the heels of two other giant agricultural deals, would put a significant share of the corn-seed and pesticide market in the hands of just three companies, raising concerns among U.S. farmers and legislators about more expensive products and fewer choices.
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Yahoo Suitors Expected to Bid Below Past Indications WSJ
Verizon and others are expected to bid around $2 billion to $3 billion in the auction for Yahoo’s core business, less than what the troubled company was expected to fetch.
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Gap Warns of Earnings Shortfall WSJ
Gap, under pressure to turn around operations amid a prolonged sales slump, said it plans to close all its Old Navy stores in Japan and some Banana Republics mostly outside of North America.
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Google’s Ban on Payday Ads Hits Its Own Investment WSJ
Google will soon ban payday-loan ads, but the venture-capital arm of its parent has been investing in payday lender LendUp since before the startup launched in 2012.
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Valeant Gets Notice of Default From Bondholder on Late 10-Q Bloomberg
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Golfer Mickelson Sued, Two Others Charged in Insider-Trading Case WSJ
Prosecutors charged the former chairman of Dean Foods, Thomas Davis, with leaking inside information to professional gambler Billy Walters, who allegedly tipped golfer Phil Mickelson. The SEC sued Mickelson for more than $1 million over his alleged trades on the information.
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Little Reason to Cheer for Deere WSJ
The slump in U.S. farm machinery demand is likely to take another toll on Deere’s fiscal second-quarter earnings Friday.
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LinkedIn 2012 Data Breach May Have Hit Over 100 Million WSJ
A 2012 data breach at LinkedIn Corp. may have been far worse than previously known, potentially affecting over 100 million members.
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Nonprofit Hospitals Adjust to Attract Investors WSJ
Nonprofit hospitals are working to become more transparent financially for the sake of bondholders, which are pressing for more disclosure and openness.
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Big Soda Faces Test in Philadelphia WSJ
The U.S. soda industry faces its biggest threat yet in Philadelphia, which is weighing a tax that could raise the price of a can of Coke or Pepsi by more than half and sharply curb consumption of sugary drinks.
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U.K. Court Strikes Down Tobacco Industry Challenge to Plain Packaging WSJ
A legal challenge by the tobacco industry against plain packaging in the U.K. has failed, opening the door for cigarette packs to be stripped of branding across the country and setting a precedent for other countries in Europe.
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Population Surge in Cities Eases as Jobs Shift and Suburbs Call WSJ
Big cities across the U.S. are seeing their postrecession population surge slow as Americans uproot for new jobs and suburbs regain some of their appeal.
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U.S. and Japan Heading for Yen Standoff WSJ
A potential move by Tokyo to devalue the currency is sparking concerns that it could spur opponents of trade and hurt a fragile global economy.
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Two Exco Directors Withdraw From Election WSJ
Two Exco Resources Inc. directors overseeing the oil-and-gas company’s review of bankruptcy and other options won’t stand for re-election after several big shareholders pushed for their ouster.
