Recent Posts

RSS Financial News

Advertisments


Los Angeles and San Diego Anti-Money Laundering Conferences

Posted August 8th, 2008

LOS ANGELES - The West Coast Anti-Money Laundering Forum (www.wcamlforum.org) today announced that registration has opened for the 9th Annual Los Angeles Anti-Money Laundering and Suspicious Activity Report Conference and the 9th Annual San Diego Anti-Money Laundering and Suspicious Activity Report Conference.

Both conferences bring together anti-money laundering experts from within industry and law enforcement for the purpose of educating bankers and money service operators as well as to share best practices for the purpose of enhancing money laundering prevention and detection procedures.

“These conferences are extremely popular among AML professionals due to the participants’ ability to interact one-on-one with the law enforcement personnel that handle money laundering investigations on a daily basis,” said conference coordinator Camille Catalano. “The speakers and information shared here rival the national conferences. But we provide full access to speakers and incredible networking opportunities due to the intimate setting in which we conduct our conferences. These meetings are as much about making professional connections as they are about learning.”

The Los Angeles AML/SAR Conference will be held September 24 and 25 at the Norwalk Marriott Hotel. Registration information is available at www.wcamlforum.org/lahifca2008. The San Diego AML/SAR Conference will be held September 25 and 26 at the Marriott San Diego Mission Valley Hotel. Registration information is available at www.wcamlforum.org/sdhifca2008. Both conferences offer reduced rates to law enforcement and regulators.

Founded 16 years ago as a small and loosely knit group of West Coast bankers gathered for the purpose of exchanging best practices relative to anti-money laundering practices, the West Coast Anti-Money Laundering Forum (www.wcamlforum.org) has grown into the west coast’s most respected AML organization. The Forum provides financial institution compliance professionals, federal and state regulators, government law enforcement investigative agencies and financial industry consultants a venue that fosters a confidential and cooperative atmosphere in which ideas can be exchanged openly and candidly enhancing the ability of all to help in the fight against money laundering, terrorist funding and other financial crimes.



Related Articles

MoneyGram Acquires Two Money Transfer Businesses
Bristol Capital Advisors to Step in as Buyer in the Auction Rate Market
Happiness more important than money, says TNS Finance Getting Rich Surve
Oversee.net Receives $150 Million Investment
Families Online Magazine Adds Three New Blogs: Apron Strings, Empty Nesters and Life Goes On



New Google Analytics Service for Accountants

Posted August 5th, 2008

CPASiteSolutions (www.cpasitesolutions.com) announced today the addition of a new marketing service to their Internet marketing services for accountants: the installation, maintenance and coaching in the use of the Google Analytics website statistics system.

According to Brian O’Connell, President of CPASiteSolutions, “while CPASiteSolutions websites are already a powerful marketing tool for accountants and CPA’s, with the Google Analytics system, it becomes even more powerful.” CPASiteSolutions’ clients can now easily and closely track their users’ activity on their website and use that information to optimize their web marketing campaigns.

Along with the installation of this new tool, CPASiteSolutions clients receive expert coaching on the use of the Google Analytics tool and in interpreting the usage data it generates.

This new service is included with the Platinum level service, which also includes a professionally designed website, over 3,000 pages of content, secure encrypted file transfer, email hosting, and a full suite of online marketing services for CPA and Accounting Firms.

Web Site: http://www.cpasitesolutions.com



Related Articles

Capital Gain - Damon, Topham & Company’s Growth Spurs Office Expansion
Google to Acquire Postini
China Finance Online Completes Acquisition of Hong Kong Securities Brokerage Firm
Spectrum Prices are Likely to Rebound at US Auctions in January, says Analysys
PerTOOLS Announces Indian Distributor



Chattem Announces the Promotion of Robert B. Long to Vice President and Chief Financial Officer

Posted July 26th, 2008

CHATTANOOGA, Tenn - Chattem, Inc. (NASDAQ:CHTT) – a leading marketer and manufacturer of branded consumer products, announced today the promotion of Robert B. Long to the position of Vice President and Chief Financial Officer, effective as of July 23, 2008. Mr. Long had served as Chattem’s Vice President, Finance since July 2007 and as its Chief Accounting Officer from April 2006 to July 2007.

“Robert’s financial knowledge and dedication have quickly made him an integral member of our management team,” said Zan Guerry, Chattem’s Chairman and Chief Executive Officer. “Robert’s efforts have contributed to our ability to successfully execute our strategic initiatives over the past few years.”

Prior to joining Chattem, Mr. Long acquired significant financial management and public accounting experience at several companies operating in diverse industries, including service as the chief financial officer of Charleston Hosiery, Inc., a manufacturer of hosiery products, as a senior audit manager for Ernst & Young LLP, a global professional services provider. Mr. Long is registered as a Certified Public Accountant with the State of Tennessee.

About Chattem

Chattem, Inc. is a leading marketer and manufacturer of a broad portfolio of branded OTC healthcare products, toiletries and dietary supplements. The Company’s products target niche market segments and are among the market leaders in their respective categories across food, drug and mass merchandisers. The Company’s portfolio of products includes well-recognized brands such as Icy Hot®, Gold Bond®, Selsun Blue®, ACT®, Cortizone-10® and Unisom®. Chattem conducts a portion of is global business through subsidiaries in the United Kingdom, Ireland and Canada. For more information, please visit the Company’s website: www.chattem.com.



Related Articles

OPENLANE Names New Company President and Chief Financial Officer
Cox Enterprises To Appoint John M. Dyer Executive Vice President and Chief Financial Officer Robert C. O’Leary to Retire and Continue Serving on Cox Enterprises Board
Eagle Rock Energy Partners, L.P. Announces Chief Financial Officer Richard W. FitzGerald Injured in Accident, Names Acting Chief Financial Officer
New Executives at TalentSecure Lead Growth of Financial and Product Development
Ronald L. Nelson Elected to Board of Directors of Convergys



IBM Unveils New Financial Management Tool

Posted July 26th, 2008

ARMONK, NY - IBM has announced a unique analytical financial transformation tool to help companies more effectively analyze and manage the performance of a company’s finance function. Developed by IBM Research in conjunction with IBM Global Business Services, the Finance Transformation Workbench tool (patent pending) uses advanced IBM patented software and service methodologies to help Chief Financial Officers and other senior finance executives identify underperforming finance functions within their company and identify new opportunities to transform and improve the finance function.

Analysis has shown that traditional methods that companies employ to improve their finance functions are often lacking in their ability to effectively and accurately identify exactly where pain points and redundancies occur within the finance organization. Finance functions need to have access to key metrics and benchmarks in order for companies to gain optimal financial performance. CFOs and other senior finance executives need to have simple and standardized finance processes to make fact-based decisions reduce finance costs and effectively partner with business units to enhance growth opportunities through integrated reporting and analytical capabilities.

According to the recent 2008 IBM Global CFO Study, one-third of CFOs and senior finance executives stated they are ineffective at measuring and monitoring business performance. The study of 1,200 CFOs suggests that current financial management models lack the effectiveness and flexibility to accommodate the needs of global enterprises. The Financial Transformation Workbench tool has been designed to address the CFO agenda and help improve effectiveness of the finance function.

“CFOs need quick access to the truth, they need process and data commonality through enterprise standards to achieve higher levels of efficacy,” said William Fuessler, Global Financial Management Leader, IBM Global Business Services. “The delay in understanding the true state of the business can mean the difference between profitability and lost growth potential. The Finance Transformation Workbench tool is yet another example of IBM’s high-value services proposition which automates labor-based process and uses our Intellectual Property (IP) to create repeatable software-like assets.”

IBM’s Financial Management practice part of IBM Global Business Services, developed the Finance Transformation Workbench tool to help company’s address key challenges in financial processes and data collection. By using this tool, companies can diagnose and develop specific opportunities to improve an organization’s finance function and ultimately the performance of the overall company. CFOs can examine which finance functions and components are underperforming in comparison to industry benchmark measures and the reasons why they are not performing effectively.

Specifically, the Finance Workbench tool can:

– Analyze business performance
– Identify underperforming finance functions and components
– Identify transformation opportunities
– Assess the business value of finance function transformation
initiatives
– Visualize linkages to various enterprise models
– Pre-populate finance function benchmark data and process taxonomies
– Leverage Finance Function best practices and methodologies
– Focus on increasing revenues and reducing costs

From an organizational and financial systems perspective, by investigating the organizational responsibilities and IT application portfolio in relation to business components, shortfalls such as duplications, over-extensions, gaps and deficiencies can be identified. Using this tool, specific solutions can be discovered to address the identified shortfalls. Financial benefits of implementing specific solutions can be analyzed further by conducting a business case analysis. The Finance Workbench dramatically improves the ability, accuracy and speed with which an organization can do this.

The Finance Transformation Workbench tool provides an integrated and seamless view of various business models and financial data. These models which are all linked together include: Finance Function component business models, business process Taxonomies, (such as the American Productivity and Quality Council Process Classification Framework) and organization structure maps. The tool embodies a method for conducting this functional analysis using a structured framework and approach to generate valuable and actionable insights to finance executives. The tool is scalable and customizable to an organizations needs.

This Finance Transformation Workbench tool underscores the future of IBM’s services business. The services model of the future includes analytical software coupled with high-value consulting services and world-class research underpinning it. The future of services is about providing high value services through the application of Intellectual Property assets in an efficient, consistent and repeatable fashion. Software plays an increasingly important role in the provision of consulting services, and this tool supports IBM’s strategy to provide high value Financial Management Consulting services for our clients in an efficient and consistently effective manner.

About IBM

For more information visit www.ibm.com.



Related Articles

Pertools Financial Analysis For Excel V5 Released
New Google Analytics Service for Accountants
Silverdell Appoints New Finance Director
Nuveen Investments Making Steady Progress with ARPS Refinancing
Think Partnership Initiates $5 million Stock Repurchase Program



Black Hills Corp. Completes Sale of Seven Independent Power Plants

Posted July 12th, 2008

RAPID CITY, S.D., - Black Hills Corp. today announced it has completed the $840 million sale of seven independent power production gas-fired plants to affiliates of Hastings Funds Management and IIF BH Investment, a subsidiary of an investment entity advised by JPMorgan Asset Management.

The net proceeds from this IPP sale are expected to eliminate Black Hills’ need to issue equity to finance the pending acquisition of Aquila’s electric utility in Colorado and four natural gas utilities in Colorado, Iowa, Kansas and Nebraska.

“Our sale process was comprehensive, and we believe this sale of select IPP assets produced excellent value for our shareholders,” said David R. Emery, chairman, president and chief executive officer for Black Hills Corp.

“We will remain an active participant in the IPP business. We excel in planning, permitting, constructing and operating reliable and efficient power plants. The latest demonstration of our capabilities is the Valencia facility, a 149 megawatt gas-fired power plant in New Mexico, which went into operation ahead of schedule and below budget on May 30.

“In addition, our expert power generation staff will focus on the ongoing construction of the Wygen III power plant near Gillette, Wyo., for our regulated electric utility, Black Hills Power. After the close of the Aquila utility acquisition, and with Colorado Public Utilities Commission approval, we also intend to pursue the permitting and construction of generating facilities to serve our Colorado electric utility customers.”

The IPP sale received regulatory approval from the Federal Energy Regulatory Commission, antitrust clearance under the Hart-Scott-Rodino Act, and completion of a federal review by the Committee on Foreign Investment in the United States.

This sale completed a process that began when the company announced in October 2007 that its board of directors had approved a strategic review, including potential divestiture, of some of its independent power production plants located throughout the western United States. Following a multi-month strategic review and auction process, the company announced in April 2008 it had entered into a definitive agreement with affiliates of Hastings and IIF to sell the seven IPPs with a total capacity of 974 megawatts.

The following power plants were included in the sale: Asset (State) Capacity (net megawatts) Fountain Valley (Colorado) 240 Las Vegas II (Nevada) 224 Valencia (New Mexico) 149 Arapahoe (Colorado) 130 Harbor Cogeneration (California) 98 Valmont (Colorado) 80 Las Vegas I (Nevada) 53 Total 974

The following power plants remain with the company in the power generation business segment of our non-regulated energy business unit after the sale:

Asset (State) Capacity (net megawatts) Wygen I (Wyoming)* 90 Gillette Combustion Turbine (Wyoming) 40 Ontario Cogeneration (California) 12 Rupert and Glenns Ferry Cogeneration (Idaho)** 11 Power fund investments (various locations) 5 Total 158 * Mine-mouth coal-fired baseload generation ** Capacity represents the Company’s 50 percent interest in the two power plants



Related Articles

Ormat Technologies Secures Seven Geothermal Leases in Nevada
Kelson Holdings to Sell 1,230 MW Redbud Power Plant to OG&E
BIOTA Sells for $3.8 million at Auction
Calpine Announces Bidding Results for Sale of Partially Completed Power Plant in Fremont, Ohio
Spectra Energy Income Fund Declares October Distribution



« Previous Entries Later Entries »