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in this issue n President’s Letter n From KPMG: n Chapter Events: n Financial Executive n Social Networking with FEI n FEI Advocacy and Accounting Policy Update n Chapter Contacts
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chapter sponsors We wish to thank the following sponsors who have contributed greatly to our chapter. Members are encouraged to consider doing business with these firms if you have a need for their services.
Chapter and golf sponsorships are available. For more information, contact:
n Mike Brower n Keith Krzeminski |
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chapter title sponsor |
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strategic partners |
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platinum sponsor |
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gold sponsors |
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silver sponsors |
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FEI Summit 2010 was held in Las Vegas at Caesar’s Palace in April. A number of Dallas Chapter members attended the conference and related events, providing the opportunity to network with members from across the country, earn CPE, and to meet FEI National President Marie Hollein and other national staff. The Dallas Chapter was recognized with a 1st place Achievement Award (large chapter category) for advancing the organization’s local role and reputation. Our chapter was also recognized with an award for Membership Development for largest membership growth. Considering there are 76 FEI chapters in the United States, this double award recognition is quite an accomplishment we can all take pride in. Many chapter leaders from other cities approached our Dallas delegation asking for advice on how to position their chapter for such a success in future years. Thank you to everyone on the FEI Dallas Board for their leadership, time and talent that produced these favorable results.
“CFO of the Year” Awards Members are encouraged to recognize outstanding CFOs by nominating for the Dallas Business Journal’s 2010 “CFO of the |
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Kathryn McBride |
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By Drew Koecher, KPMG LLP
Faced with overwhelming interest payments, impending principal payments or restrictive covenants created in a prior operating environment, many companies are in need of debt refinancing or restructuring. Companies with relatively healthy operations and positive cashflow are searching for new financing and are negotiating with creditors in order to avoid bankruptcy.
Successfully navigating a financial restructuring, whether in or out of bankruptcy court, is a complex process. In fact, that is one reason why pre-packaged bankruptcies have tripled since 2008 according to Bankruptcydata.com. Often management teams do not anticipate the complexity of negotiating with creditors. By preparing early on for a restructuring, executives can avoid pitfalls, improve the process, minimize the cost, maximize value and quickly get back to managing the business.
Understanding the Environment The restructuring process usually begins with a company seeking advice from an investment banker with a goal of arranging new |
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Drew Koecher KPMG LLP |
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chapter meetings September 14, 2010 October 12, 2010 November 9, 2010 January 11, 2011 February 8, 2011 March 8, 2011 April 12, 2011
financialexecutives.org Advocacy: n Issues Events: n Webcasts CPE Center – Get CPE credit by reading Financial Executive magazine and FERF reports FERF – Financial Executive Research Foundation Financial Executive magazine Financial Reporting Update – FASB, Tax and Legislative Updates n FEI Express n CareerTrax n Finance and Information Technology Renew your FEI national membership
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FEI Dallas Chapter Contacts 2009-10 |
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Officers President Vice President Secretary Treasurer
Executive Committee Dr. David J. Springate Paul Mason Gina A. Norris
National Liaison Richard J. Rosebery
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Committees Arrangements Patti McKee Career Services Alan Stein External Relations & Publicity Michael E. Conley Golf Planning Committee Thomas C. Hook Membership Kenneth J. Judd
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Member Outreach Franklin R. Lloyd Member Retention Lista B. Hightower Professional Development Kendall Helfenbein Programs Jim Howe Sponsorship
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Are you LinkedIn? Join the FEI Group Today! Joining the FEI LinkedIn Group will allow you to find and contact other FEI members on LinkedIn, as well as more than 25 million other experiences professionals from around the world, representing 150 industries.
Want Up-to-the-Minute Regulatory News? For the latest information on regulatory developments, visit FEI’s Web site or sign up to receive email updates from the FEI Financial Reporting Blog by emailing blogs@financialexecutives.org. The FEI Financial Reporting Blog is also available on Twitter at feiblog.
Follow Us on Twitter – Sign Up Today! Now you can get FEI News on Twitter, by signing up to ‘follow’ FEI news at @feinews. FEI’s press releases automatically post via our Twitter account, and we may ‘tweet’ other FEI news from time to time. |
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Financial |
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cover story: Many believe the current U.S. international tax system is putting American-based companies at a competitive disadvantage with other industrialized countries. |
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Online exclusives:
SEC Adopts Guidance on Climate Change Disclosures
Features:
Finance Best Practices: Finance Can Help In Planning For Volatility |
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June 2010 |
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Social Networking |
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chapter title sponsor |
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Nominate for |
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FEI Dallas Launches Summer Professional Development Series FEI Dallas presents three special education programs to help members stay plugged in over the summer break and provide for additional CPE credit. Members who are current on chapter dues may bring members of their financial staff at no charge.
June 24, 2010 The Economy: Taking the Pulse Panel discussion sponsored by Capital One Bank
7:30–9:45 a.m. 2 CPE credits Bent Tree Country Club 5201 Westgrove Dr. Dallas, TX 75248 972-931-7326
Program information: Consumer spending accounts for almost 66% of the US GDP and their consumption patterns have been a significant measure of domestic economic growth. As we come out of a severe recession, our distinguished panelists from the Federal Reserve, banking, manufacturing and retail sectors will provide insight on consumer behavior and retail spending and what it portends for the economy.
Panelists: n Jim Skinner, CFO, Neiman Marcus n John Walker, CFO, KidKraft n Danielle DiMartino, Federal Reserve
Click here to register Free to chapter members and their financial staff Non-members $35 with advance approval Registration deadline: Friday, June 18 Cancellation deadline: Monday, June 21
July 23, 2010 Economic Measures, Risk and Presented by: David Springate, Ph.D. Director, Center for Finance Strategy Innovation UTD School of Management
7:30–9:45 a.m. 2 CPE credits The University of Texas at Dallas School of Management Atrium and Room 1.1117 800 W. Campbell Rd., Richardson, TX 75080 972-883-5941
Program information: The program will explore economic measures of project worth, risk analysis and real options analysis as used and discussed in the finance field. The idea is not to conduct a technical review, but rather to see if and where common measures (Net Present Value) and other activities (e.g., Balanced Score Cards, sensitivity testing, Monte Carlo simulation) reasonably fit into financial modeling and risk analysis for the bulk of non-financial corporations. Do the suggested approaches accurately measure and allow for risk and uncertainty? How organizationally useful and how suitable are they, all things considered? What is likely to happen in practice? How will growing efforts to transform corporations and to use Corporate Performance Measurement impact the answers?
Click here to register Free to chapter members and their financial staff Non-members $35 with advance approval Registration deadline: Thursday, July 15 Cancellation deadline: Friday, July 16
August 25, 2010 Behavior Finance as It Applies Presented by: Prof. Donald Shelly Director, Alternative Asset Management Center Southern Methodist University
7:30–9:45 a.m. 2 CPE credits Southern Methodist University Cox School of Business Collins Executive Education Center Crum Auditorium 3150 Binkley Ave. Dallas, TX 75205
Program information: Traditional finance has evolved based on two fundamental assumptions: n People make rational decisions n People are unbiased in their predictions about the future
The stock market bubble of the late 1990s and recent boom and crash in the housing market have caused both investors and researchers to reexamine the long-held theory that financial markets are entirely efficient. This program will explain a variety of investor biases, including: anchoring, overconfidence, pride and regret, mental accounting and familiarity. How these reduce investor wealth and how to recognize and avoid them will also be covered.
Click here to register Free to chapter members and their financial staff Non-members $35 with advance approval Registration deadline: Tuesday, August 17 Cancellation deadline: Wednesday, August 18 |
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FEI: The Voice of Corporate Finance FEI has gained a reputation for being a widely-influential voice on behalf of financial executives before the US SEC, FASB, PCAOB, IASB, the U.S. Department of Treasury and the U.S. Congress on issues related to corporate financial accounting and reporting and business policy. Through the efforts of FEI’s committees and its accounting policy and government affairs teams (located in our New Jersey and Washington D.C. offices) FEI closely monitors regulations, standards and legislation on corporate taxation, accounting and financial reporting, pensions and health care, government contracting, the federal budget and international issues. Click here for the Advocacy and Accounting Policy Update. |
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FEI Advocacy and Accounting Policy Update |
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FEI is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors.
Convenient CPE credit from FEI:
Articles
Events
Publications
FERFPros |
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Chapter Events |
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Meeting Registration FEI Dallas Chapter meetings are open to dues-paying members of the chapter and their guests. Advance registration required. Registrations received after the registration deadline will be wait-listed and accommodated on a first-come first-served basis as space is available. Qualified member prospects may attend one chapter meeting at no charge with advance registration and approval (click here to confirm qualifications prior to registration).
Guest Policy Chapter members may bring guests to chapter events with advance registration and approval. Generally, guests are not allowed repeated attendance. Guests who are qualified and interested in FEI membership may attend one meeting compliments of the chapter. Contact Jackie Dunn for more information or to request guest approval.
Cancellation Policy 48 “business” hours notice is required for cancellation. Cancellations inside 48 “business” hours and no-shows are subject to a cancellation fee equal to the guest fee. Guest fees will be refunded upon request given that cancellation is received at least 48 "business" hours prior to the event. Absent payment in advance, members are responsible for their guests' late cancellation and no-show. We recognize that plans can change at the last minute; however, as good stewards of our chapter finances we ask your help in controlling expenses due to last-minute cancellations and no-shows. |
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From KPMG |
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Navigating a Financial Restructuring |
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Directors at Large Terry L. Beneke John Cummings Dr. Constantine Konstans
Area Director at Large David W. Palmlund
Chapter Administrator Jackie Dunn Physical address: |