Business Finance Today

EU postpones introduction of changes to accounting rules
A major overhaul of financial institutions' accounting rules, specifically fair-value rules, came into force in much of the world this week, but the European Commission decided to postpone adoption of the rules. Analysts said the changes would disproportionately hit some European banks. Some banks in Europe are upset with the decision because they are concerned they will be at a disadvantage compared with their international counterparts. Financial Times (tiered subscription model) (11/12)

Moody's to report on operational risk in securitization
Moody's Investors Service will offer its take on how credit in different geographic areas is affected by operational risk in securitization. The rating agency explains that a securitization transaction's performance depends on the effective performance of servicers, trustees and other parties, in addition to the creditworthiness of underlying obligors. "Operational risk has received substantial attention recently as several transactions, some with well-performing collateral, have experienced a substantial weakening of credit quality attributable primarily to nonperformance of a securitization party," said Nicolas Weill of Moody's. Structured Credit Investor (U.K.) (11/11)

Your Bottom Line

A green strategy that's fiscally sound
Many green initiatives, such as switching light bulbs or opening the windows, can also help your company save heaps of money, Andrew Winston writes. "Energy efficiency just hasn't seemed sexy," he notes, writing that it wouldn't take much for a company to set aside some of its capital-expenditures budget for green projects. "You're spending money on things all the time; it's simply an issue of where you place your bets," he writes. Harvard Business Review online/Green Advantage blog (11/12)

In the C-Suite

CFO slashes $100 million in costs at Lawson Software
Rob Schriesheim moved from board member to the CFO position with Lawson Software, where he restructured the organization, determined where to direct capital and cut costs with offshoring. His cost-cutting measures have saved the firm $100 million. CFO.com (11/12)

Happiness is in the mayhem for "wealth creators"
Much is being made about the importance of happiness over material wealth in a post-recession world, but Luke Johnson offers a defense of the economy's "wealth creators" and entrepreneurs. "Innovation and change is in stark contrast to the view espoused by many philosophers and writers that happiness means stability and tranquillity," he writes. "... Why should we meekly accept drudgery and disadvantage?" Financial Times (tiered subscription model) (11/10)

On the Move

Bernard J. Pitz
has been named CFO of Intertape Polymer Group, a Canadian packaging company. He replaces Victor DiTommaso. Sarasota Herald-Tribune (Fla.) (11/12)

Tom Staggs,
Walt Disney Co.'s CFO, will trade jobs with Jay Rasulo, who heads the company's theme parks. Bloomberg (11/12)

Off the Charts

Australia builds a better apple?
The researchers behind the RS103-130 have dubbed it the world's best apple because it stays crispy for two weeks at room temperature -- and months in the fridge. The apple has a natural disease-fighting gene and wasn't genetically modified. The Telegraph (London) (11/10)

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