Corporate Cashflow Magazine articles from February 1995

Corporate Cashflow Magazine archives from February 1995

Throw rocks or dollars at Robert Citron? (former county treasurer, Orange County, California) (Editorial)
February 1, 1995... Throw rocks at Robert Citron if you like. I'll pass. I admit that for a professional treasurer to manage a large pool of liquid assets in such a way that he throws one of the most conspicuously wealthy counties in America into bankruptcy is no...

Check image capture speeds up positive pay reconcilement. (Cash Management)
February 1, 1995... Positive pay reconcilement, a standard cash management tool at companies that issue large numbers of checks, is getting a technological makeover. Companies using positive pay transmit a daily file of checks issued to their disbursement bank....

Growing financial EDI program draws customers, vendors. (electronic data interchange) (Cash Management)
February 1, 1995... From a modest beginning in 1989 (paying six major suppliers electronically), Phillips Petroleum Co., has built one of the largest corporate electronic data interchange (EDI) programs in the country, one covering 1,400 vendors. Each month...

Banks expand role in leveraged finance. (Financing)
February 1, 1995... Banks are taking a bigger and bigger role in shaping and financing leveraged transactions due to two structural changes in the bank loan market: * The entry of institutional investors into the market for bank loan facilities, and * The...

Revolvers preferred over lines of credit for working capital. (Financing)
February 1, 1995... Bernie Girod, president and chief operating officer of Harman International, Washington, DC, set up the company's first revolving credit facility last September. "The timing was right," he says. "The market was attractive; the line is committed,...

Final hedging rules ease tax constraints for corporations. (Taxes)
February 1, 1995... Hedging rules finalized last summer by the Internal Revenue Service make it easier for corporations to use hedging losses to reduce their taxes. The new rules clear up a gray area, says Nan Barry, director of taxes for Southwest Airlines Inc.,...

401(k) sponsors give participants a break with indexed funds. (Investments & Benefits)
February 1, 1995... Low management fees and pure representation of an asset class make index funds attractive choices for 401(k) plans. Whitman Corp. of Rolling Meadows, IL, chose index funds for its 401(k), primarily to reduce the cost to employees, says Bobbie...

New pension bill forces some sponsors to contribute more. (Investments & Benefits)
February 1, 1995... There is good news and bad news for plan sponsors in the 1994 Retirement Protection Act (RPA) attached to and approved with the GATT (General Agreement on Tariffs and Trade) legislation. The bad news is that companies that have not been making...

Real estate poised for comeback in pension funds. (Investments & Benefits)
February 1, 1995... A change in fundamentals is fueling a return to real estate investing by pension funds. Never mind the data from Greenwich Associates, Greenwich, CT, that show equity real estate dropping from 3.6% to 3.2% of pension assets from 1993 to 1994....

Nationwide banking. (includes related article)
February 1, 1995... By 1997, treasury managers will be able to streamline account structures and simplify funds concentration. Networked retailers have the most to gain. The decades-old barriers to interstate banking are finally coming down. Historic legislation...

Outsourcing. (accounts payable processing)
February 1, 1995... The whole A/P system, not just the payments process, proves to be one area where treasury managers can still cut costs. Widespread confusion over the difference between outsourcing accounts payable and simply outsourcing payments continues to...

Financial Dublin. (International Financial Services Center in Dublin, Ireland)(includes related article)
February 1, 1995... New freedoms draw treasury centers, insurance captives. The International Financial Services Centre (IFSC) was launched in Dublin, Ireland, in the same week as the stock market crash of 1987. The timing was regrettable, but, unlike the crash,...

Republican tax cutting could sting corporations. (US Congress) (Washington Watch)
February 1, 1995... The new, Republican-controlled Congress has unpacked and is busy attacking taxes. While many of the proposals being floated would benefit corporations, some consultants are worrying out loud that the Republicans have promised too much and that...

What went sour in Bob Citron's Orange County portfolio. (county treasurer found guilty of mismanaging public funds; Orange County, California) (Capital Ideas)
February 1, 1995... Just when you thought you'd heard everything, Orange County, CA, bastion of conservative wealth, declared bankruptcy. First, it revealed a $1.5-billion "paper" loss in its investment portfolio, Several days later, the fund that handled the...

The best ways to concentrate cash. (Treasury Foundations)
February 1, 1995... Last month we tackled cash concentration but held over to this month a detailed discussion of the eight ways to move funds to a concentration account. * Wire transfers over Fedwire are the most expensive per transaction. The cost may be...

From CEO to CFO: operations experience broadens financial insight. (Sara Lee Corp. senior VP and CFO Judith A. Sprieser) (Stepping Up)
February 1, 1995... Judith A. Sprieser, 41, was promoted to senior vice president and CFO of Sara Lee Corp., Chicago, which has $15.5 billion in annual sales. She most recently was president and CEO of Sara Lee Bakery North America. Ms. Sprieser began her career in...