Word: cfo
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...being the pending battle to replace the U.S. Air Force's aged refueling-tanker aircraft fleet. The contract, which may be worth $20 billion, was the source of a huge scandal involving Boeing last year over illegal and unethical efforts to land an overpriced deal; Boeing's CEO and CFO lost their jobs, as did top Pentagon officials. That has allowed EADS to get into the game with its own tanker. "The U.S. tanker deal is fundamental to us," says Crosby. He announced the company's intention to assemble the jet in the U.S. should EADS win. EADS will probably...
Last week, the documentary “Enron: The Smartest Guys in the Room” was released in movie theaters. A detailed account of one of the biggest business scandals, the documentary has its share of entertaining villains, including Enron chairman Kenneth Lay, former CEO Jeffrey Skilling and CFO Andrew Fastow. Yet, what caught my attention was its sole hero—whistleblower Sherron Watkins—who wrote the memo heard around the world, warning Lay that the company’s accounting practices were looking very shady...
...chipmaker NVidia's turf. With successes like that, it's no accident that Otellini is respected by Intel insiders as a steady hand--a welcome change in a company famous for its bitter boardroom battles. "In the Andy Grove era, it was very raucous," says Andy Bryant, Intel's CFO. "It was not unusual to have loud arguments in public places. Paul is a firm believer in not winning arguments by yelling or insulting...
Perhaps most unsettling for CEOs in the hot seat is that Ebbers was convicted despite scant evidence connecting him to the crime. The prosecution's star witness, former CFO Sullivan, admitted in court to drug use, lying to WorldCom's board and filing false financial statements. Yet while most of the jurors didn't find Sullivan very credible, it was even less plausible that Ebbers would not have detected accounting fraud on such a massive scale right under his nose. As the jury heard, this was a man so obsessed with saving a buck that he sniffed...
McCain oversaw the investigation that helped derail the $23 billion Pentagon deal to lease Boeing tanker airplanes to the Air Force. Investigators found that the company's CFO had violated conflict-of-interest rules, and the scandal landed both him and a high-ranking Pentagon procurement official, who said she had steered other contracts to Boeing, in jail. McCain says he is not on a vendetta against Boeing but continues to have concerns about the Pentagon's procurement processes. "There are a lot of big-ticket items," says McCain. "It is going to be a very tough year." --By Sally...