Los Angeles Chapter www.FEI.org - Financial Executives International

Los Angeles Chapter
www.FEI.org
Financial Executives International Monthly Newsletter — July, 2002
SUMMER ACTIVITIES CONTINUE
LOS ANGELES INVADED
BY GIANTS!
Specifically, the San Francisco Giants
baseball team will play against the Los
Angeles Dodgers at Dodger Stadium on
Saturday, July 20. The LA Chapter of
FEI has secured a block of tickets to this
game.
The reservation deadline is
Friday, July 12.
We have obtained a block of tickets for the LA Dodgers
baseball game with the Giants on Saturday, July 20.
Game time is 1:10 pm.
These seats are located
underneath cover and will be in the shade during the
entire game. In addition to the regular events at a
baseball game, this particular day is also this year’s Foam
Finger Day.
The price for each seat is $17. To obtain your tickets,
send a check payable to FEI to Roger Stephens, 7049
Flight Ave. #204, Los Angeles, CA 90045. Please
enclose a self addressed stamped envelope so your
tickets can be sent to you by return mail. Since the
reservation deadline is Friday, July 12, you may make
your reservation on the website (www.fei.org) or by email
to [email protected]. If you use the website or
email, be sure to mail your check as soon as possible.
(Remember that postage rates have increased to 37
cents.) Ticket orders will be filled in the order they are
received. Parking is $8 per car payable at the entrance to
the parking lot.
If you need further information, call Roger Stephens at
323/727-0900, extension 122 (work) or 310/641-6686
(home).
PICNIC DINNER, CONCERT,
AND FIREWORKS
With a picnic dinner, open air concert, marching band,
and fireworks, you might think we are
describing some July 4 event. Not so.
On Saturday, August 24, we will attend
one of the Hollywood Bowl’s most
popular events each year, the annual
Tchaikovsky Spectacular. The concert
begins at 8:30 pm.
This special event features the USC Trojan Marching
Band as it augments the Hollywood Bowl Orchestra
conducted by John Maucheri. This year’s program
includes music from Swan Lake and features special
guest Peter Donohoe playing Tchaikovsky’s Piano
Concerto #1. Mr. Donohoe was the winner of the
International Tchaikovsky Competition in 1982. The
program continues with Romeo and Juliet and concludes
in breathtaking fashion with the 1812 Overture, complete
with the USC Trojan Marching Band and brilliant
fireworks.
This event is a complete sell out each year, so please
purchase your tickets or make your reservation as soon
as possible. You may purchase your tickets by mailing
your check ($20 per person payable to FEI) to Roger
Stephens, 7049 Flight Ave. 204, Los Angeles, CA 90045.
Please enclose a self-addressed stamped envelope so
the tickets can be sent to you by return mail.
Reservations may be made via the website (www.fei.org)
or by telephone to Roger Stephens at 323/727-0900,
extension 122. If you need additional information, please
call Roger at 323/727-0900, extension 122 (work) or
310/641-6686 (home).
For those who are able to join us for a picnic dinner
before the concert, we have reserved a group of tables in
the Highland Camrose picnic area #15. Those who
attended the picnic last year thoroughly enjoyed our time
together before the concert. Arriving at 7:00 - 7:30 also
ensures a more leisurely pace of traffic getting to the Bowl
and securing parking at that time. You may bring your
own dinner; if you prefer, picnic dinners may be
purchased from one of the restaurants on the Bowl
premises.
To ensure that we have enough tickets for the
Hollywood Bowl and don’t waste money by ordering too
many tickets, please register your intent to attend the
Hollywood Bowl event as soon as possible. You may
either (i) send your money, (ii) make a reservation on the
website, or (iii) contact Roger Stephens at
[email protected] or 323/727-0900 extension
122.
The last day to guarantee ticket availability is July 12.
While we expect some seats to remain available on a
first-come, first-served basis after July 12, all reservations
received by July 12 will be honored. Contact Roger
Stephens
at
323/727-0900,
x122
or
[email protected] for further information or to
make your reservations.
Page Two
Financial Executives International
CHAPTER DUES
The Board of Directors for the Los Angeles Chapter reviewed the dues structure for the chapter at its June meeting.
We are pleased to announce that the board decided to leave
the chapter dues unchanged for another year. The chapter
dues pay for all programs conducted at the local level and include attendance at all the dinner meetings, including the annual Holiday Party held each December. Chapter dues,
unlike national dues, are based on a fiscal year basis (July 1
through June 30) for all members. The chapter has not been
able to offer free or “lifetime” memberships.
The Board also affirmed the decision to delete from chapter
membership all persons who have not paid local chapter dues
for the last chapter year. Persons whose membership is deleted at the local level will not appear in the directory and will
not receive further issues of the newsletter or any other chapter mailings. If you have not paid your chapter dues for the
2001-2002 chapter year, please check with Peter AllmanWard in the next week to avoid being dropped from the Los
Angeles membership list. Peter may be contacted at peter.
[email protected]. If you do not have email, you
may telephone Peter at 213/688-8000, extension 8014.
Checks for your dues should be made payable to FEI and
mailed to Peter Allman-Ward, Wedbush Morgan Securities,
1000 Wilshire Blvd., Los Angeles, CA 90017.
THE FUTURE OF CFO CAREERS
FEI's Career Management summer series of teleconferences kicks off on July 23, 2002 with a web seminar and
teleconference on "The Future of CFO Careers." Hosted
and sponsored by Webex and presented by Dr. Laurence
J. Stybel, President of Stybel Peabody Lincolnshire in
Boston, this interactive event will focus on the CFO career
paradigm shift and how CFOs can thrive in it. Please join
us for this 1-hour program, beginning at 10:00 AM Pacific
Daylight Savings Time. To register, go to www.fei.org and
click on "Teleconferences."
NATIONAL DUES
The FEI National office announced a change to the national
dues structure. On May 21, the Executive Committee approved the 2002 Schedule of Membership Dues effective July
1, 2002. Notice of the new dues structure will be mailed to
the full FEI membership with the dues renewal invoices. This
increase is the first increase to the national dues since 1997.
The increase is a very modest one, ranging in most cases
from $5 to $15 (between 3 and 5 percent). The increase for
the Entrepreneurial category is higher ($65), bringing that
category to 50% of the Active dues rate and more accurately
representative of its value.
NEW FEI NATIONAL MEMBERSHIP DUES
effective July 1, 2002
CLASS
Active
Academic
Retired
Entrepreneurial
Career Services
Life Retired <20 yrs
Life Retired >20 yrs
1 year
$450
$140
$100
$225
$115
$830
$415
2 years
$870
$270
$190
n/a
n/a
3 years
$1,265
$395
$285
n/a
n/a
In addition to the increase in dues, another change to the Entrepreneurial class was announced. Effective July 1, the
maximum length of time a member can stay in the entrepreneurial class was reduced from 5 years to 3 years.
Please remember that these dues charged by FEI’s national
office are not the same as the Los Angeles Chapter dues.
The chapter dues and national dues are billed separately and
on a different time schedule. The chapter dues are billed on
the chapter fiscal year (July through June) whereas the national dues are billed on the anniversary of each members admission to FEI.
FEATURES
AUGUST ISSUE DEADLINE:
MONDAY, JULY 22, 5:00 P.M.
Email copy to: [email protected] and
[email protected]. Alternately, copy may be faxed
to Linda Bidasio at 818/790-8918
or Roger Stephens at 310/642-6533
•
•
•
•
•
•
•
•
Summer Activities Continue…..………..… Page One
Chapter Dues………………………………... Page Two
National Dues………………………………… Page Two
Area Luncheons……………………………... Page Three
Calendar of Events...………………………. Page Four
Newest LA Members…...…………………… Page Four
Directory Changes………………………….. Page Four
Guest Article…………………………………. Page Six
Financial Executives International
CALENDAR OF EVENTS
CALENDAR
LOCAL EVENTS
July 11:
July 18:
July 20:
August 8:
August 24:
Sept. 12:
Sept. 19:
Area Luncheons
Directors Roundtable
Dodgers vs. Giants at Dodger Stadium
Area Luncheons
Tchaikovsky Spectacular & Fireworks at
Hollywood Bowl
Area Luncheons
Dinner Speaker: Ron Iden, Assistant
Director of FBI, Los Angeles
NATIONAL EVENTS
Sept 19-20:
Forum on Finance and Technology, The
Venetian Hotel, Las Vegas
COMING IN THE FALL
Your Chapter leadership has already been active in planning for the next chapter year. Mark these dates now:
September 19: Ron Iden, Assistant Director of the FBI Los Angeles
October 17:
Special Panel on CFO's Liability
November 21: Joint meeting with National Investor Relations Institute
December 16: (Monday) Holiday Party - Citrus Singers
will return!
Page Three
THE DIRECTORS ROUNDTABLE
INVITES YOU PERSONALLY TO ATTEND
Not Just for Doctors -HIPAA Compliance and Other Regulations Affecting Corporate Health Benefit Plans
Thursday, July 18, 2002, 8:00-10:00 A.M.
(7:30 a.m. Registration)
The Omni Hotel, 251 S. Olive Street, Los Angeles
The Hershey Crocker Room, Second Floor
There is no fee to attend and breakfast will be served. The
Health Insurance Portability and Accountability Act ("HIPAA")
presents not only a daunting challenge to health care providers,
but also impacts the policies and procedures of companies with
self-funded ERISA benefit plans. Companies must meet the new
challenges posed by government regulatory agencies and implement significant policy changes before the April 14, 2003 deadline. This conference will help you better understand the new
Regulations by addressing the following:
. Legal Requirements
. Operational Requirements
. Potential Liabilities and Exposure
. Risk Assessment: Gap Analysis and Action Plans
CIOs, COOs, CFOs, and other HR and IT professionals grappling with the complexities of the Regulations should attend this
conference, especially those in companies with self-funded ERISA benefit plans or that perform claims processing or quality assurance functions with regard to these plans.
DISTINGUISHED SPEAKERS
AREA LUNCHEONS
All members are encouraged to attend one of the
area luncheons on Thursday, July 11, at the addresses
listed below. Feel free to bring a guest and join members
in an informal exchange of ideas.
Downtown/Pasadena/Claremont/Glendale 12:00
University Club, 175 N. Oakland Ave., Pasadena
Information: Ranney Adams 626/446-2563
West Side/South Bay 12:00
La Marina Inn, 119 Culver Blvd., Playa Del Rey
Information: Frank Cribbs 310/207-9479
San Fernando Valley 12:15
Smoke House Restaurant, 4420 Lakeside Dr., Burbank
Information: Bill Sleeper 213/680-1230 x225
AREA LUNCHEONS will continue
throughout the summer on the Second
Thursday of each Month.
Kimberly Roush
Partner, Health Care Risk and Advisory Services, Western Region HIPAA Product Champion, KPMG LLP
Kenneth Rashbaum
Partner and Chairman, HIPAA Task Force Sedgwick, Detert,
Moran & Arnold
REGISTRATION:
To register, fax your name, title, company name and address,
telephone number, and email address to Sedgwick, Detert,
Moran & Arnold c/o Lori Gomez at (213) 426-6921 (fax). Confirmation by us is unnecessary. For questions about this event,
contact Ms. Gomez at (213) 426-6900. To be added to our mailing list for future programs, please contact Jack Friedman, Chairman of the Directors Roundtable at (323) 939-2167.
The Directors Roundtable is a civic group headquartered in the United
States which organizes the preeminent worldwide programming for directors and their advisors. Business Wire disseminates the written text
of several of these events through Business Wire at www.businesswire.
com/emk/dir-roundtable.
Page Four
Financial Executives International
FRIENDS OF THE CHAPTER
FEATURED FRIEND
We are pleased to announce the addition of
PondelWilkinson MS&L, which is a highly specialized
corporate and investor relations firm with a national reputation
for innovative, aggressive, professional service.
Friends of the Chapter membership is open to companies
which maintain relationships with Chief Financial Officers and
other senior financial executives.
Friends of the Chapter agree to send a senior
representative to our dinners and meetings, and to bring a
CFO or senior financial officer from one of their clients who is
not a member of FEI.
CURRENT FRIENDS OF THE CHAPTER ARE:
Arroyo Insurance
Dan Pondella, 323/872-1414
Arthur Andersen LLP
John Donovan, 213/614-6984
Capital Resource & Consulting
Mindy Kaplan, 310/260-4701
Clark/Bardes Financial
Services, Inc.
Abe Garver, 213/438-6456
Comerica Bank
Tom Kelly, 562/590-2530
DBM
Jo-Anne Smith, 818/884-4440
Diane Saunders, 310/665-1105
Deloitte & Touche LLP
Tom Hughes 213/688-5212
Gary Smith, 213/688-5488
Holland & Knight LLP
Tasha Nguyen, 213/896-2456
Maita Prout, 213/896-2447
KPMG LLP
Phil Schimmel, 213/955-8945
PondelWilkinson MS&L
Roger Pondel, 310/207-9300
Gary Maier, 310/207-9300
Resources Connection
Liz Dick, 213/689-4140
RHI Management Resources
Frances Moreno, 310/209-6855
RSM McGladrey
Jim Greene, 626/405-4254
THIS MONTH’S FEATURED FRIEND
Clark/Bardes Consulting
Founded in 1967, Clark/Bardes Consulting (NYSE:CBC)
is a national firm with expertise in executive compensation
and benefit consulting, design, funding and administration.
With more than 3,400 corporate, healthcare and banking clients, the company's primary mission is: "Helping companies
keep their best people." These services are provided to both
public and private corporations and to nonprofit organizations
throughout the country. With 770 employees, our professional
staff consists of lawyers, CPAs, actuaries, compensation and
benefit consultants, and insurance specialists.
Clark/Bardes Consulting offers compensation consulting
services through two of its divisions: Pearl Meyer & Partners
and the Reward & Performance Group. In aggregate, Clark/
Bardes Consulting's compensation practice is among the five
largest in the nation.
The CRG division of Clark/Bardes Consulting specializes in
executive benefits. We are experts in deferred compensation
plan and SERP design, implementation, funding and administration. We work with Fortune 1000 corporations to help ensure that their executive benefit programs are meeting corporate goals of attracting, retaining and rewarding key executives. We also publish the Annual Survey of Executive Benefits among the Fortune 1000 companies.
Please contact Abram Garver at (213) 438-6456 [direct] for
more information on how we can help you "Keep your best
people."
Thor’s Finance & Accounting
Robin Borough, 818/710-1800
DIRECTORY CHANGES
NEW MEMBERS
FEI WELCOMES ITS NEWEST MEMBERS
TO THE LOS ANGELES CHAPTER
Mr Renato Halili
Vice President and Controller
Forest Lawn Memorial Park Association
Office Address
Home Address (Preferred)
1712 South Glendale Avenue
P.O. Box 50296
Glendale, CA 91205
Pasadena, CA 91115
Phone: (323) 551-5009
Phone: (626) 441-3637
Fax: (323) 551-5236
Email: [email protected]
Email: [email protected]
Mr. Bruce Neiner
Treasurer and CFO
American Film Institute
Office Address (Preferred)
2021 North Western Avenue
Los Angeles, CA 90027
Phone: (323) 856-7725
Fax: (323) 462-7683
Email: [email protected]
Home Address
2102 Century Park Lane
Los Angeles, CA 90067
Phone: (310) 994-0725
PLEASE MAKE THE FOLLOWING CHANGES
TO YOUR DIRECTORY
Mr. Ronald Groden
Home Address (Preferred)
14164 Huron Court
Moorpark, CA 93021
Phone: (805) 522-8899
(805) 553-1958
Fax (805) 553-9185
Email: [email protected]
Mr. Don Hughes
Home Email: [email protected]
Mr. Dewey Norton
Home address (Preferred)
1903 Temple Avenue
#111
Signal Hill, CA 90804
(310) 809-9104
Email [email protected]
Send address and email changes to:
[email protected].
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Page Six
Financial Executives International
ADVERTISING PROCEDURES
ADVERTISING PROCEDURES
At its June meeting, the LA Chapter Board of Directors authorized a change in the advertising policy for the chapter
newsletter. In response to the increase in full page advertisements, the board decided to phase out full page ads. Effective immediately, no new full page ads will be accepted, and
continuing full page advertisers will be permitted to continue
running full page ads only through December 2002. We hope
this change in policy will make the newsletter more readable
to our members and also will increase the exposure time for
each advertisement.
In addition, the advertisement rates have been changed.
Effective with the September 2002 issue, the new rates will
be:
Full page (thru 12/02)
$350 per insertion
Half page
$200 per insertion
Quarter page
$150 per insertion
A new discount program has been instituted also. For advertisers who commit to an annual program (September
through August), a 30% discount from the above rates is
available.
Persons or firms desiring to advertise in the newsletter may
contact Roger Stephens at [email protected] or
Linda Bidasio at [email protected]
GUEST ARTICLE
Strategic Networking
In any discussion of career skills today, the ability to network is always near the top of the list. Almost all successful financial
executives have built a circle of contacts on whom they can depend,
but not every professional has a conscious strategy in place for leveraging this resource. Here are some ideas for growing and maximizing your business network:
Expanding your network
Successful networking means strategic networking. An effective collection of professional contacts requires a plan for its ongoing care and attention. And if you expect your network to really
help you advance your career goals, you’ll need to continually
enlarge it.
The first step in expanding your network is identifying any
gaps it may contain. Do you have enough industry contacts?
Should you work on meeting more professionals in positions similar
to yours? Do you need to beef up contacts within your current company? How about relationships in the broader business community?
Look for opportunities to fill these gaps and further expand
your network whenever and wherever you can. Gatherings of professional associations, alumni groups and community organizations
are all potential venues for meeting new associates. Remember that
the real power of networking lies is its “ripple effect.” Your contacts
will introduce you to other contacts who, in turn, will connect you with
still other professionals.
Maintaining your network
Don’t wait until you need something to begin communicating with your new associates. While e-mail can help you keep in
touch, there’s no substitute for personal interaction when it comes to
building relationships.
Investing an hour or two per week out of your busy schedule just to chat with associates might seem like a luxury for both of
you, but in the long run it can pay for itself many times over. Include
time on your agenda each week for a breakfast or lunch with a different contact to exchange updates on each other’s recent activities,
challenges and achievements. Your follow-through with people
you’ve met demonstrates your sincerity and will keep your contact
base active.
Utilizing your network
A superb professional network isn’t of much value unless
you use it. While it’s essential to maintain and grow your relationships, knowing when to approach associates for assistance and consultation is just as important. The most popular reason people call
upon their contacts is to get help during a job search. Professional
networks are by far the best way of identifying unadvertised positions
for financial executives.
But you don’t have to be a job seeker to take advantage of
the collection of contacts you’ve built. Comparing notes with those in
other companies on the latest financial software or web-based applications, for example, can be very useful back on the job. If you’re
experiencing a career dilemma, talking to others who’ve experienced
similar problems can give you beneficial new perspectives.
Remember that networking is a two-way street. Just as you
expect your contacts to lend you a helping hand, always be willing to
come to their aid, too. Even if they don’t request assistance, show
that you value their friendship by thoughtful gestures, such as forwarding news clippings you know will interest them.
Access to a carefully built network of business associates is
one of the most valuable resources financial executives and managers can have at their disposal. Even if you aren’t actively job hunting, establishing a wide range of contacts can help you enhance
your knowledge of finance and accounting as well as sharpen your
interpersonal skills.
SIDEBAR:
Common networking mistakes
Here are some typical faux pas to avoid as you build and
nurture your network:
Don’t be a nuisance. While it’s important to communicate regularly, take care that you’re not intrusive.
Don’t have a hidden agenda. For example, don’t
contact someone “just to say hello” if you’re really
looking for a favor.
Don’t forget to show your appreciation when
someone helps you, even with a simple thank you
note or e-mail.
If someone asks for your assistance, don’t make
promises you can’t keep.
Don’t use the name of a mutual acquaintance as
a door-opener unless you’ve gained that person’s
permission ahead of time.
Don’t focus exclusively on yourself. Ask your contact about his or her work life and recent activities.
# # #
This article is provided courtesy of RHI Management Resources,
North America’s largest consulting services firm providing seniorlevel accounting and finance professionals on a project basis. RHI is
a strategic partner of FEI national and a Friend of the Los Angeles
chapter. For further information, visit the RHI Management Resources’ web site at www.rhimr.com or call Frances Moreno at (310)
209-6855.
The following is a paid advertisement
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FINANCIAL EXECUTIVES INTERNATIONAL
Los Angeles Chapter
c/o Peter Allman-Ward
Wedbush Morgan Securities, Inc.
2002-2003 Officers and Directors
President - Jay Panzica
Vice Presidents - Fred Silny, Roger Stephens
Treasurer - Peter Allman-Ward
Secretary - Marie Bocek
Assistant Secretary - Lucinda Hill
Directors John Bravata
Judy Jurdan
Jim Burk
Ed McIntyre
Jordan Burkart
Ted Perrine
Fred Findley
Steve Root
Ed Hupp
Bill Seaman
Dick Jackson
Bill Sleeper
FIRST CLASS MAIL
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