SEPTEMBER 2008 ISSUE
N E W J E R S E Y N e w s l e t t e r
MESSAGE FROM THE PRESIDENT
Change in the Air
T he chill of autumn is in the air. No, I can’t feel actually feel it on a gloriously sunny and summery Labor Day, but there it is nonetheless. There’s nothing more tangible than the sense that things are changing – constantly.
PRESIDENT KEN R. DROSSMAN Lakeview Business Consulting
VICE PRESIDENTS JON ALPERT Apple & Eve, LLC
Sitting here in the break between the two major political parties’ conventions, it’s never been more evident that change is all around us. The candidates’ oratory is dedicated to the principle that the country needs change, even if each party’s definition of
what change means differs taxes, the environment, the
significantly. Whether economy, foreign policy,
BILL GRAMMATICAS Implementation Specialists For Healthcare
ANDREAS ROTHE Parsons Brinckerhoff
leadership or citizens, each
any of the myriad other topics candidate asserts that he will bring
on the minds of our country’s about the necessary change.
For senior financial executives, change is just as much in evidence and, in a sense, just as daunting because what change means in the business environment is also unclear. Consider just some of the challenges we face in our daily work:
An economy that many believe is in recession, although 2nd growth was reported at a robust 3.3%
Energy and most other commodity prices that affect many companies’ costs well above their prior year levels (even after a significant easing over the summer), and yet companies are still constrained from passing along most such costs to consumers even as inflationary pressures rise Financial markets still in turmoil and credit availability limited or with much tighter conditions attached Rapidly evolving reporting and accounting principles, highlighted by the pending migration from GAAP to IFRS
TREASURER PAULETTE CHATMAN FirstEnergy Corporation
DIRECTORS PAUL CHASE Financial Executives International
ED COOKE Lion Brand Yarn Co
LOU DESIDERIO Visible World, Inc.
DAVE HUBER Horizon Blue Cross/Blue Shield of NJ
BARBARA KANE-BURKE Arkados Corp
ow’s a senior financial company to success?
manager to cope, much less help navigate his or her FEI offers any number of resources – articles in
JOHN KIRKPATRICK Absolute Resource Solutions
“Financial Executive” magazine alerting us to the latest developments; the FELIX list exchange providing an online tool to network with colleagues and fellow members and share expertise on specific issues, and FERF research studies on a wide variety of topics are just a few. The NJ chapter of FEI is also helping with a Professional Development session on the morning of October 14th tackling subjects ranging from Accounting for Consolidations, Business Combinations and Non-Controlling Interests in Consolidated Financial Statements to International Mergers & Acquisitions to new developments in
Workforce Healthcare Insurance.
Be sure to mark your calendars to save the
date and watch for the registration announcement.
EUGENE MALINOWSKI Crown Bank
MIKE MARCOPOTO Burns & Roe Enterprises Inc
JIM MEER Columbia Laboratories, Inc
MARK MISHLER Vital Signs, Inc.
Speaking of change, Nick Cyprus, Controller and Chief Accounting Officer of General Motors (an organization that lives with change), will be the speaker at our first chapter dinner meeting of the year on September 22nd at the Governor Morris Westin Hotel in Morristown. Come to renew friendships and relationships with your FEI colleagues and stay to hear Nick discuss some of the unique challenges facing GM and other large companies today and what it takes to meet the financial reporting requirements of a multi-national public company. I look forward to seeing you there.
GERRY NAJARIAN NJ Manufacturing Extension Program Inc
CAREER SERVICES JON ALPERT
CAREER SERVICES CO-CHAIR JIM MEER
MEMBERSHIP/RETENTION DAVE HUBER
PROGRAMS ANDREAS ROTHE
SPONSORSHIP BILL GRAMMATICAS