Big Fat Finance Blog

About This Blog Updated daily by members of the Business Finance Expert Network, The Big Fat Finance Blog is intended to arm finance professionals with innovative ideas and best practices that help finance organizations create value.

Archive for March, 2009

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Why Alec Baldwin Needs a Tax Break

The spectacle of states chasing movie production dollars — and, conversely, Hollywood figures pushing for state tax breaks — has gotten way beyond embarrassing.


Last month we had California governor Schwarzenegger gloating over the successful conclusion of his yearlong campaign to ease taxes for movie and television companies operating within his state. The Production Incentive Program — better known as the Ugly Betty tax credit, after the hit TV show that relocated from California to New York in 2008 — made it into an economic stimulus package contained in the state’s budget bill.


If the sight of an ex-Hollywood man cooking up tax breaks for his old industry isn’t enough to make you queasy, try this: Over on the other side of the country, actor Alec Baldwin is unhappy that New York governor David Paterson has threatened to end the state’s 35 percent tax credit for movie and TV production — the very tax break that lured Ugly Betty to the Big Apple. more

Maybe Using Twitter at Work Is Not Such a Good Idea?

Twitter’s growth as of late has been nothing short of super fast — Usain Bolt fast. Mashable reports its recent growth at 1,382 percent and TechCrunch reports a 55 percent month-over-month growth rate in the Feb vs. Jan ‘09 timeframe.


The recent media coverage has definitely helped Twitter grow like a weed. You’ve seen the folks on CNN or NBC or wherever have the same conversation.


“Do you Twitter?,”"What is Twitter?,” etc.


After a brief overview, they usually close with the same, obligatory newscaster joke with one person asking, “So what do you call someone who Twitters?” To which the other person at the desk says, “A twit,” and they then share a hearty chuckle at their wit and ingenuity.


But not everyone is so happy about Twitter’s growth, and that person is Coach Scott Skiles of the Milwaukee Bucks. Per Fox Sports:


Bucks forward Charlie Villanueva got a talking-to from Skiles after the coach learned Villanueva posted a message to his Twitter feed — a “tweet” — from his mobile phone during halftime of Sunday’s home victory over Boston.


“We made a point to Charlie and the team that it’s nothing we ever want to happen again,” Skiles said after practice Tuesday. “You know, we don’t want to blow it out of proportion. But anything that gives the impression that we’re not serious and focused at all times is not the correct way we want to go about our business.”


Using the screen name “CV31″ — Villanueva’s initials and jersey number — Villanueva posted the following message during halftime Sunday:


“In da locker room, snuck to post my twitt. We’re playing the Celtics, tie ball game at da half. Coach wants more toughness. I gotta step up.”


So what do folks think? Is tweeting at halftime taking things a bit too far or distracting? Distractions aside, it’s a great way to engage with fans and give them an insider’s view into the locker room. Perhaps Skiles could get the guys on the bench who have no chance of playing to tweet instead?


In general, are social media like Twitter, Facebook, etc., a hindrance or help in the workplace? ###


Can Company Stock Sabotage 401(k) Participants?

Everyone knows now that too many people within ten or so years of retirement were way too heavily invested in equities and have seen their 401(k) balances collapse, but the bad news doesn’t stop there. Not only are people invested more heavily in stocks than they should be, but workers continue to put way too much of their portfolio into company stock, despite years of warning from cable TV financial gurus, columnists at investment publications, and financial planners about the dangers of putting all of your eggs in one basket. more

The GRC Paradox

I’ve been digging into results of the Business Finance 2009 GRC Maturity Study for the past week, and I keep running into what I call the GRC Paradox. I’ll explain below, after a results “appetizer”:


Survey respondents speak very highly of their developing GRC programs: 81 percent of all respondents identify their GRC capabilities as acceptable or strong. I’ll present an overview of the results in the April issue of the magazine and then a more comprehensive analysis of leading and best practices identified in the study during a May 21 webcast.


One thing is certain: If a company wants to develop and improve its GRC capabilities, it’s going to have to address the GRC Paradox when it’s time to craft the business case. more

A Step Closer to Carbon Tracking

Last week, the U.S. Environmental Protection Agency proposed “a comprehensive system for reporting emissions of carbon dioxide and other greenhouse gases produced by major sources in the United States.” The proposed requirements system would cover suppliers of fossil fuel and industrial chemicals, car and engine manufacturers, and other organizations that emit more than 25,000 tons of greenhouse gases annually. The first report would be due to the EPA in 2011 for calendar year 2010, although automakers would begin reporting for the 2011 model year.


The likelihood that this proposal or a similar one will become part of the regulatory framework is “very close to inevitable,” says Michael Meehan, chief executive officer with Carbonetworks, a provider of emissions management software. “The clock is now officially ticking for U.S. businesses.” more

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