Word: cfo
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...wife Christine, 38, a telecommunications operations manager, says riding together is beyond sexy. "With no safety net of metal," she says, "you can only hang on to the person in front of you and put 110% of your trust in him for your life." For Cathy Long, 47, CFO of Spirit Finance Co. in Scottsdale, Ariz., part of the thrill is "being the chick on the back of the bike." Moreover, she says, because the motorcycle is a "guy thing," she relinquishes her usual "control freak" style and lets her husband George, 51, who works in real estate leasing...
...going through the reverse of what so many cities have suffered through, this flight out of the city," says Jim Murren, the president and CFO of MGM Mirage and a longtime Vegas resident. The city last week unveiled its own public transportation system, a $650 million, privately funded monorail that, for $3 a ride, runs the 4-mile stretch from the convention center up the Strip to the MGM Grand, and someday is supposed to connect all the way from the airport to downtown. Turnberry and CENTRA Properties plan to build a 1.2 million-sq.-ft. outdoor mall near...
...target of corporate ire is the Sarbanes-Oxley Act, a law passed in 2002 that imposed tough new rules for how public companies - including many European ones - report their numbers. New provisions of the law continue to kick in, which might explain some curiously timed events. (Does the outgoing CFO of Linux peddler Red Hat really want to spend more time with his family?) Partly because of the stringent law, fewer foreign firms are listing shares in New York . New international listings have fallen by half since 2001 and may halve again this year. Indeed, the London Stock Exchange...
SENTENCED. LEA FASTOW, 42, wife of former Enron CFO Andrew Fastow; to a year in prison; in Houston. The heiress to a grocery and real estate fortune pleaded guilty to helping her husband hide income from questionable financial transactions, which contributed to Enron's collapse...
Like a kid with a $100 bill in a penny-candy store, Microsoft has been trying too many things at once, critics have long charged. To keep the company focused, Ballmer sliced it into seven supposedly equal and semiautonomous product groups, each with its own CFO. Two of those groups--Windows and Office--account for 62% of revenue and the lion's share of profits. The others deal with mobile devices, business services, entertainment, the Internet (MSN) and server software. Those last two are marginally profitable; the others are optimistic bets on the future. Says Jupiter Research analyst Joe Wilcox...