in this issue

n President’s Letter

n From KPMG:
Navigating a Financial Restructuring

n Chapter Events:
FEI Dallas Launches Summer Professional Development Series

n Financial Executive
Magazine

n Social Networking with FEI

n FEI Advocacy and Accounting Policy Update

n Chapter Contacts

 

chapter sponsors
2009-10

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
214-755-0707
(chapter sponsorship)

n Keith Krzeminski
972-987-2376

(golf sponsorship)

chapter title sponsor

Cushman & Wakefield Global Homepage

strategic partners

platinum sponsor

gold sponsors

silver sponsors

Cushman & Wakefield Global Homepage

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

continued

Kathryn McBride
Chapter President
2009-10

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

continued

Drew Koecher

KPMG LLP

chapter meetings
2010-11

September 14, 2010
Chapter Meeting
4:00-5:45 Prof’l Development
5:30 Networking Reception
6:30-8:00 Dinner Program

October 12, 2010
Chapter Meeting

4:00-5:45 Prof’l Development
5:30 Networking Reception
6:30-8:00 Dinner Program

November 9, 2010
Chapter Meeting
4:00-5:45 Prof’l Development
5:30 Networking Reception
6:30-8:00 Dinner Program

January 11, 2011
Chapter Meeting

4:00-5:45 Prof’l Development
5:30 Networking Reception
6:30-8:00 Dinner Program

February 8, 2011
Chapter Meeting

4:00-5:45 Prof’l Development
5:30 Networking Reception
6:30-8:00 Dinner Program

March 8, 2011
Chapter Meeting
4:00-5:45 Prof’l Development
5:30 Networking Reception
6:30-8:00 Dinner Program

April 12, 2011
Chapter Meeting
4:00-5:45 Prof’l Development
5:30 Networking Reception
6:30-8:00 Dinner Program

 

financialexecutives.org
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FEI Dallas Chapter Contacts 2009-10

Officers

President
Kathryn McBride
Marvin F. Poer and Company
972-770-1134
kathrynmcbride@mfpoer.com

Vice President
Renée J. Hornbaker
Shared Technologies Inc.
972-462-5844
renee.hornbaker@
sharedtechnologies.com

Secretary
Derek B. Claybrook
Sammons Corporation
214-210-5000
dclaybrook@sammonscorp.com

Treasurer
Christopher C. Loy
Time Warner Cable
972-830-3807
christopher.loy@twcable.com

 

Executive Committee

Dr. David J. Springate
School of Management
The University of Texas at Dallas
972-883-2647
spring8@utdallas.edu

Paul Mason
LES
972-608-4669
pmason0408@aol.com

Gina A. Norris
Crow Holdings
214-661-8097
gnorris@crowholdings.com

 

National Liaison

Richard J. Rosebery
ElkCorp, Retired
972-407-1709
richardrosebery@aol.com

 

Committees

Arrangements
Darin Patrizi
Pepsico National Sales
972-334-2314
darin.patrizi1@fritolay.com

Patti McKee
ViewPoint Bank
972-578-5000 x7223
patti.mckee@viewpointbank.com

Career Services
Robert M. Walker
Morgan Stanley
469-232-6224
robert.walker@morganstanley.com

Alan Stein
469-341-0808
astein@bkd.com

External Relations & Publicity
James B. Strand
Avnet, Inc.
214-343-5855
jim.strand@avnet.com

Michael E. Conley
Behringer Harvard
972-985-4237
mechog@aol.com

Golf Planning Committee
Keith S. Krzeminski
McAfee, Inc.
972-987-2376
keith_krzeminski@mcafee.com

Thomas C. Hook
Lockton Companies, LLC
214-720-3489
thook@lockton.com

Membership
Eric B. Holleman
Conexus SG
972-455-9270
eholleman@conexussg.com

Kenneth J. Judd
Keste
214-778-2180
ken.judd@keste.com

 

 

Member Outreach
Mark C. Freund
972-387-3159
markcfreund@gmail.com

Franklin R. Lloyd
Cox School of Business
Southern Methodist University
214-768-3191
flloyd@cox.smu.edu

Member Retention
Peggy Bernard
Trinity Industries, Inc.
214-589-8149
peggy.bernard@trin.net

Lista B. Hightower
Mothers Against Drunk Driving
469-420-4505
lista.hightower@madd.org

Professional Development
Mahesh S. Shetty
Encore Enterprises Inc.
214-259-7009
mshetty@encore.bz

Kendall Helfenbein
214-956-7004
khelfenbein@tx.rr.com

Programs
Sharon Ellis
Texas Scottish Rite Hospital
for Children
214-559-7626
sharon.ellis@tsrh.org

Jim Howe
Crosstex Energy, Inc.
214-721-9347
jim.howe@crosstexenergy.com

Sponsorship
Michael L. Brower
214-755-0707
mike@browercpa.com

 

 

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Financial
Executive
Magazine

cover story:
Are U.S. Taxes Causing a Global Disadvantage?

Many believe the current U.S. international tax system is putting American-based companies at a competitive disadvantage with other industrialized countries.

Online exclusives:

 

SEC Adopts Guidance on Climate Change Disclosures
The Feb. 2 SEC guidance document released by the SEC makes clear that climate change issues may have a material impact now or in the future, and companies would be wise to know now what the SEC is interested in.

more exclusives

 

Features:

 

Finance Best Practices:  Finance Can Help In Planning For Volatility

Outsourcing:  Best Practices in Business Process

Human Resources:  Honing a Talent For Retaining Talent

June 2010

Social Networking
With FEI

chapter title sponsor

Nominate for
“CFO of the Year”
through July 2.
Click here

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
of the Retail Consumer

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

map & directions

 

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
Corporate Transformation

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

map & directions

 

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
to Investing

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

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.

FEI Advocacy and Accounting Policy Update
June 2010

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
Financial Executive magazine

 

Events
Live knowledge and networking opportunities

 

Publications
FERF executive reports

 

FERFPros
Online courses

Chapter Events

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. 

From KPMG

Navigating a Financial Restructuring

Directors at Large

Terry L. Beneke
Antares Capital Management
972-455-2807
tbeneke@antarescapitalmgmt.com

John Cummings
KPMG LLP
214-840-2130
johncummings@kpmg.com

Dr. Constantine Konstans
School of Management
The University of Texas at Dallas
972-883-6345
konstans@utdallas.edu

 

Area Director at Large

David W. Palmlund
Heidrick & Struggles, Retired
214-821-8957
dave@palmlund.com

 

Chapter Administrator

Jackie Dunn
FEI Dallas Chapter
P.O. Box 910367
Dallas, TX  75291-0367
469-241-0079
214-291-5563 fax
admin@feidallas.org

Physical address:
16148 Crossfield Dr.
Houston, TX  77095-3959