Bristol-Myers Squibb Co.'s $275 million write-down on auction-rate securities partially collateralized by subprime mortgages was more than just the biggest loss by a nonfinancial company related to subprime investments: It has become the stimulus to reopen the debate on whether corporate treasuries should operate as a cost center or, on...
With the Federal Reserve cutting rates 75 basis points Tuesday morning and the probability of more cuts to come, corporate treasuries are scrambling to make sure their cash portfolios are positioned for a potentially wild rate ride downhill. The prospects of significantly lower rates raise questions about whether companies need...
When it comes to financial reporting, some companies are going beyond the call of duty. In a study of 2006 financial statements from the 100 leading U.S. companies, the Financial Executives Research Foundation (FERF) assembled dozens of examples of companies doing just that in the face of accounting rules that...
With only five days to go before the Terrorism Risk Insurance Act (TRIA) was set to expire at year's end, President Bush signed into law legislation that reauthorizes the federal backstop for another seven years. The legislation extends coverage for acts of domestic terrorism, in addition to foreign acts of...
After the House and Senate failed to agree on a few key provisions of the Mental Health Parity Act of 2007, Congress extended the existing 1996 law for one year until a compromise can be reached.
After the House and Senate failed to agree on a few key provisions of the Mental Health Parity Act of 2007, Congress extended the existing 1996 law for one year until a compromise can be reached.
With only five days to go before the Terrorism Risk Insurance Act (TRIA) was set to expire at year's end, President Bush signed into law legislation that reauthorizes the federal backstop for another seven years. The legislation extends coverage for acts of domestic terrorism, in addition to foreign acts of...
The prospect of recession is becoming more and more likely with unemployment topping 5% recently and the market dipping with the arrival of the New Year--and these realities have not escaped the notice of finance executives. For December, the Tatum Index of Business Conditions plummeted to the lowest point in...
After riding out a rough quarter, defined benefit (DB) plans received some good news in the form of a projected increase in the discount rate used to determine liabilities and expenses. Year-end 2007 disclosure discount rates should increase by at least 25 to 50 basis points relative to the rates...
With only five days to go before the Terrorism Risk Insurance Act (TRIA) was set to expire at year's end, President Bush signed into law legislation that reauthorizes the federal backstop for another seven years. The legislation extends coverage for acts of domestic terrorism, in addition to foreign acts of...