Maybe it won’t help but at least they hired one. There may be something to the strategy of not having a CFO but we’ll be damned if know what that is. Hey, if you’re making money hand over fist and getting the checks cut on time, who gives a damn, right?
Unfortunately for MySpace, their ever-shrinking market share has maybe gotten to the point where some semblance of a financial strategy may be necessary. Enter Mark Rosenbaum who will surely help turn this ship around. Or maybe not, who knows. Good luck man.
MySpace Hires Finance Chief [WSJ]
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Has Florida CFO Alex Sink Watched Scarface Too Many Times?
It’s been a while since we shared some cost saving ingenuity from Florida’s CFO–cum-Gubernatorial candidate, Alex Sink. However, this time we learn how she managed to spend some of those savings.
According to the Politics blog of the South Florida Sun-Sentinel, CFO Sink’s Department of Financial Services has “purchased 182 assault rifles – costing $255,000, according to Sink’s office – in the last two years.” When you Google “assault rifle” one of the first links takes you to this.
A spokesman for the wannabe Guv made it plain for those GOP haters (who are all of a sudden against guns?) trying to block Sink from purchasing more BFGs:
The rifles are necessary to protect fraud investigators who deal with “dangerous people,” said spokesman Kevin Cate – arsonists, sophisticated car insurance fraudsters, money launderers. If Republican legislators are taking a shot at Sink with the assault-weapon purchasing ban, “that’s a shot at officer security,” Cate said.
Sink said: “I rely on my law enforcement people to evaluate what the risks are and what they need. I’m going to do everything possible to protect them.”
Look. We’ve got no doubt that some white-collar criminals are dangerous but this seems a tad ridiculous.
On the other hand, since it is South Florida and basically anything can happen (including 10 – 26% returns on arbitraging groceries) perhaps this type of firepower is necessary.
Marc Jacobs Says Former CFO Was Fired Because He Was Cooking the Books Not Because He Complained About a Pole Dance, All the Porn Floating Around
Marc Jacobs International claims that its former COO and CFO, Patrice Lataillade, got a little fancy with the company’s numbers in order to give himself “hundreds of thousands of dollars” in bonuses. The Post reports that court documents state that audits revealed “false and inflated entries” for about $20 million or so. The company says Lataillade was fired from his job for all this financial hocus pocus,
This all came out because Lataillade sued the company alleging that he was fired for entirely different reason altogether. Apparently MJI co-founder and President Robert Duffy likes to have a little fun around the office that wasn’t appreciated by everyone, namely Mr. Lataillade.
“Examples of Duffy’s conduct which created a hostile work environment include his displaying gay pornography in the office and requiring employees to look at it; his production and dissemination of a book which includes photos of MJI staff in sexual positions or nude; his requirement that an MJI store employee perform a pole dance for him,” the suit said.
Accounting/finance types can be get a little stuffy, that’s a given but seeing co-workers in various compromising positions and/or working a pole at the boss’s behest could make for some awkward looks/conversations later. Not that it excuses running through some bullshit journal entries for your own personal financial benefit but I suppose there may be a legitimate beef in there.
Marc Jacobs COO fired for ‘cooking books’ not harassment: court filings [NYP]
Are You Startup CFO Material?
I like this CFO article on finance chiefs who prefer startups. Had I not bailed […]