FEI Newsletter August September 2011.indd - Financial Executives ...

ISSUE 

2011 

August/September 

FEI Chicago 

Chapter 

September 

Dinner Meeting 

When: 

Thursday, September 22 

Program: 

5:30pm Cocktails 

6:15pm Program 

7:00pm Dinner 

Please note the change in 

our timing for the evening. 

Mr. Angelson will speak 

before dinner. 

Where: 

The Metropolitan Club 

Oak Room, 66th Floor 

Willis Tower 

233 S. Wacker Drive, 

Chicago 

Free to FEI dues paying 

members. Guests $75 

Click here to register & 

pay with a credit card. 

Advance Reservations are 

Required! Please RSVP 

to the FEI Chicago 

Chapter Offi ce at 

312-263-1661 or 

info@feichicago.org by 

Monday, September 19. 

FEI Chicago Chapter 

216 W. Jackson Blvd. 

Suite 625 

Chicago, IL 60606 

312-263-1661 

info@feichicago.org 

www.fi nancialexecutives.org 

Deputy Mayor Mark Angelson will address 

Chicago’s Economic Development 

strategy and how it interacts with all 

of Mayor Emanuel’s other initi ati ves to 

“Reinvent Government”, parti cularly 

in these ti mes of fi scal challenge. He 

has asked that a majority of the time 

be allocated to questi ons and answers 

from the audience. 

THE 

PREEMINENT 

ASSOCIATION 

FOR FINANCIAL 

EXECUTIVES 

Mark Angelson became the Deputy 

Mayor of the City of Chicago in May 2011. He 

also serves as Chairman of the Mayor’s Economic, 

Budgetary and Business Development Council. 

He is an industrialist, a mergers and acquisiti ons 

expert, a non-practi cing lawyer, a teacher and a 

philanthropist. He has played a leading role in the 

creati on of billions of dollars in value for equity and 

debt investors in very challenging circumstances, 

and has been widely recognized for his leadership, 

team building, deal making and corporate integrati 

on skills, and for his work ethic. 

Mr. Angelson became Chairman of the Board of 

World Color Press Inc. (formerly Quebecor World, 

Inc.), the second largest provider of print and related 

services in the western hemisphere, in July, 2009 

this issue 

Professional Development P.2 

Diversity Committee P.2 

President’s Message P.3 

CFO of the Year Award P.4-5 

Sponsor News P.6 

Sponsors P.7 

Membership News P.8 

Programs P.5 

PPrivate Company Roundtable P.9. 

CMG P.10 

Calendar P.11 

Officers and Directors P.13 

Committees/Sponsors P.14 

News from FEI National P.14-16 

Additional Programs P.17-19 

“Chicago’s Economic Development Strategy” 

With Mark Angelson, 

Deputy Mayor of the City of Chicago 

Thursday, September 22, 2011 Dinner Meeting 

and Chairman and CEO two months 

later. In July 2010, World Color Press 

was acquired by Quad/Graphics. That 

combinati on created a New York Stock 

Exchange-listed company with pro 

forma revenues of approximately $5 

billion and nearly 30,000 employees on 

three conti nents. Mr. Angelson was a 

principal architect of that highly complex 

transacti on, which completed 

his involvement in an unprecedented 

transformati on of the printi ng industry. He served 

on the board of directors of Quad/Graphics and 

chaired the Quad/Graphics board committ ee on 

integrati on and consolidati on unti l he assumed 

his role in City government. 

Mr. Angelson served from 2007-2009 as Chairman 

of MidOcean Partners (formerly Deutsche 

Banc Capital Partners). Previously, he led the 

2003-2007 consolidati on of the printi ng industry, 

combining RR Donnelley and other leading fi rms 

in the Americas, Europe and Asia, creati ng the 

world’s largest provider of printi ng and related services, 

with $11 billion in annualized revenues, 600 

locati ons and more than 60,000 employees. 

Conti nued on Page 2

Professional 

Development 

Date: 

Thursday, September 22, 2011 

Time: 

Refreshments and 

Registrati on begin at 3:00pm 

First Program 3:30-5:30pm 

Place: 

The Metropolitan Club, 

(Willis Tower) 

Michigan Room (66th Floor) 

233 S. Wacker Drive 

Chicago 

Fee: 

Free to Chicago Chapter 

Members; $25 for Guests; 

Free to Prospecti ve Member 

Guests with Advance 

Registrati on & Contact 

Informati on 

RSVP By: 

Monday, September 19, 2011 

“How to Use Transacti on Liability Insurance Products to 

Manage M&A Risks and Gain a Competi ti ve Edge” 

Speaker: 

Mary McDougall Duff y, Managing Director, Aon Private Equity & Transacti on Soluti ons, 

Aon Financial Services Group, Inc. – Philadelphia 

With the rise of M&A acti vity, fi rms are confronted with risks that they don’t see in their core businesses. 

Many CFO’s and risk managers believe they are taking on a set of potenti al liabiliti es that they don’t fully 

understand, aren’t comfortable with, and ulti mately must hope don’t become signifi cant. This isn’t the risk 

management strategy they use in their businesses. Regardless whether one is buying or selling, products 

and strategies exist to manage transacti on risks. Get ahead of the game and gain a competi ti ve advantage 

with a basic understanding of products such as: 

• Reps & Warranti es Insurance 

• Tax Insurance 

• Other customized insurance soluti ons 

Mary McDougall Duff y is Managing Director for Aon Private Equity & Transacti on Soluti ons, Aon Financial 

Services Group, Inc. in Philadelphia. Mary advises clients in the areas of Representati ons & Warranty Insurance, 

Tax Indemniti es and other transacti on related coverages, via her role as Managing Director of APETS. 

She is also involved in matt ers involving other fi nancial products coverages for private equity fi rms and their 

portf olio companies. Mary received her B.A. cum laude from Juniata College and a J.D. magna cum laude 

from Georgetown University Law Center. 

“Chicago’s Economic Development Strategy” Conti nued from Front Page 

Before serving as CEO and a director of RR Donnelley, Mr. Angelson served as CEO and a director of Moore Wallace. He was a principal architect 

of the merger of RR Donnelley and Moore Wallace and the earlier merger of Wallace and Moore, where he served as non-executi ve Chairman and 

Lead Independent Director. Previously, Mr. Angelson served as Deputy Chairman, at Big Flower Press and at its successor, Verti s. He also served 

as Deputy Chairman of Chancery Lane Capital. Mr. Angelson began his career in 1975 as a lawyer with Sullivan & Cromwell. From 1982 through 

1995, he practi ced with Sidley & Austi n. 

Mr. Angelson is a Trustee of Northwestern University and a Trustee and Treasurer of the Insti tute of Internati onal Educati on (IIE). He is a member 

of the Council on Foreign Relati ons and the Pilgrims, and is a Fellow of the Royal Society for the Encouragement of Arts, Manufactures & Commerce. 

He graduated from Rutgers College, where he was elected to Phi Beta Kappa, and from Rutgers Law School. In 2006, Mr. Angelson was awarded 

an honorary Doctorate of Laws by the John Marshall Law School. 

FEI Chicago Diversity Committee 

The Chicago Chapter is supporti ng FEI Nati onal’s 2012 goal to increase minority and women membership. To further build our alliances with the 

Association of Latino Professionals in Finance and Accounting (ALPFA) and the National Association of Black Accountants (NABA,) national 

committees are being formed with representati ves from each of the 15 pilot chapters to share ideas on how to improve the alliances and improve 

the recruitment and retenti on of their members in FEI. New FEI member, Joe Kosinski and Richard Kuzmar will represent Chicago on these committ ees. 

Jean Saelens will represent Chicago on Nati onal’s women outreach committ ee to build women alliances. Carla Carstens will chair this committ ee. 

Janeen McGreal will join the Diversity Committ ee to spear head the local outreach initi ati ves to build relati onships with other minority groups 

and corporati ons in Chicago. As a committ ee, we will be establishing Chicago’s 2012 goals. We look forward to sharing them with you and your 

assistance in helping us to achieve them. 

CHICAGO CHAPTER 

2 • August/September 2011

President’s 

Message 

FEI Chicago 

Chapter President 

Richard Steele 

Please note FEI 

Chicago Chapter’s 

new email address: 



Although our fi scal year begins on July 1st, the 

beginning of our year always feels like it really 

starts in September. Like returning for another 

year of school when we were much younger, our formal 

chapter programs begin in the month of September. 

I’m excited about the line up we have for this 

fall “semester.” You’ll note elsewhere in the newsletter 

that our fi rst keynote speaker is Mark Angelson, 

the Deputy Mayor of Chicago. He also serves as Chairman 

of the Mayor’s Economic, Budgetary and Business 

Development Council, and is responsible for leading 

the Chicago 2011 Transiti on Plan. Mark’s bio at 

Northwestern University off ers the following: “he is 

an industrialist, a mergers and acquisiti ons expert, a 

non-practi cing lawyer, a teacher, and philanthropist.” 

I’m sure Mark will have a compelling story for our 

members on Thursday evening, September 22nd, as 

he talks about the criti cal issues facing Mayor Rahm 

Emmanuel’s administrati on for the City of Chicago. 

In October we have another formidable speaker: 

David Walker, formerly the seventh Comptroller 

General of the United States and head of the U.S. 

Government Accountability Offi ce (GAO) for almost 

ten years (1998-2008).You may recall that David was 

on the cover of the September 2010 issue of Financial 

Executi ve Magazine entitled “Fixing the Federal 

Defi cit.” Could a keynote presentati on on this topic 

be any more ti mely? (If you would like a copy of this 

feature arti cle, please contact our Chapter Administrator, 

Susan Gidley, at info@feichicago.org and she 

will send you a pdf reprint.) Some of you may have 

heard David speak at the last FEI Annual Summit in 

Phoenix, which was truly an exhilarati ng experience 

for all those that att ended. 

© 2010 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG 

International Cooperative (“KPMG International”), a Swiss entity. 41749CHI 

Commitment. Support. 

It’s a win-win situation. 

David Walker is currently the Founder, President and 

CEO of the Comeback America Initi ati ve (CAI). Quoti ng 

from the website (htt p://tcaii.org/): “In this capacity he 

leads CAI’s eff orts to promote fi scal responsibility and 

sustainability by engaging the public and assisti ng key 

policymakers on a non-parti san basis to help achieve 

soluti ons to America’s federal, state and local fi scal 

imbalances.” If you look forward to hearing a message 

that talks about the need for rati onality and leadership 

in Washington, DC, then please plan to attend our 

dinner program on Tuesday evening, October 18th, 

at the Union League Club of Chicago. 

Finally we will host our premier event for the year with 

the fi rst annual Chicago CFO of the Year sm Awards 

Presentati on on Thursday evening, November 3rd, at 

the Sheraton Chicago Hotel & Towers. This will be a 

spectacular event, a real treat for all parti cipants. We 

are expecti ng several hundred att endees, so be sure 

to register early. The cost is $100 for FEI Chicago 

Chapter dues paying members and $150 for nonmembers. 

Further informati on is available, including 

purchasing ti ckets, at www.chicagocfo.org. You can 

also contact our chapter administrator, as provided 

above, if you have questi ons or would like additi onal 

informati on. This marquee event is chaired by Mary Jo 

Ardizzone (who has put a wonderful committ ee team 

together) and hosted by our chapter. 

Did I mention we’re trying to increase attendance 

at our chapter events? Perhaps the programs we 

have scheduled for this fall will help persuade you 

to come along and check us out! Please be sure and 

introduce yourself to Susan and I, as well as to the 

rest of the Board. Thanks. 

KPMG LLP is committed to helping businesses like yours 

succeed in today’s marketplace. Our 

professionals can assist you in addressing your business 

issues and achieving your strategic goals. 

We are proud of our continuing relationship with FEI 

Chicago and look forward to working with you for 

many years to come. 

For more information on how KPMG LLP can help your 

business, please contact Phil Rohrbaugh, Chicago 

office managing partner or Steve Hajdukovic, 

Chicago office Mid Market leader at 312-665-1000. 

us.kpmg.com 


Chicago 

CFO 

of the 

Year sm 

Awards 

Thursday 

November 3, 2011 

5:30pm 

The Sheraton Chicago 

Hotel & Towers 

301 E. North Water Street 

FEI Chicago Members 

$100 

All other Guests 

$150 

Premier Table of 10 

$1,500 

Click here to 

buy tickets 


On Thursday, November 3, 2011, FEI Chicago hosts the inaugural Chicago CFO of the Year sm Awards. These 

awards recognize financial professionals for outstanding performance in their roles as corporate financial 

stewards. FEI Chicago Chapter board member Janeen McGreal interviews Cheryl Francis, Chair of the event’s 

Selection Committee. 

Interview with Cheryl Francis, Chair of Selection Committee for the Chicago CFO 

of the Year sm Award 

By: Janeen McGreal, FEI Chicago Chapter President-Elect 

JM: Cheryl, we are honored to have you Chair our Selecti on Committ ee for the inaugural 

Chicago CFO of the Year Awards. Can you tell us why you agreed to Chair this Event? 

CF: The role of CFO in any company is one of its most signifi cant leadership positi ons. 

The CFO has the opportunity to change the trajectory of an organization for its 

customers, employees, investors and its broader set of stakeholders. Identifying 

CFO’s who are making this level of contribution gives them appropriate recognition 

and serves as examples for others of the difference an excellent CFO can make. 

Cheryl Francis 

Selecti on Committ ee JM: How did you go about putting together the judging panel, and who is on it? 

Chair 

CF: We wanted a judging panel that represented the perspectives of people who 

understand the CFO role from various vantage points. We wanted (and secured) a respected reti red CFO; a 

noteworthy academic from a school known for its fi nance experti se; and a seasoned CEO with a track record of 

delivering value. And we wanted all of our judges to have the experience of serving on corporate boards and 

observing CFO’s from this perspecti ve. We could not have found a stronger set of judges than Bill Cernugel 

(reti red CFO of Alberto Culver), Abbie Smith (Chaired Professor, The University of Chicago Booth School of 

Business) and David Speer (CEO of ITW). 

JM: How would you describe a “Corporate Financial Steward” in terms of his/her role and contributions to 

their organization overall? 

CF: I have always thought of the CFO as the person who acts as the compass for the corporati on – pointi ng 

everyone toward the true north of value creation. The CFO can direct and influence the value creating 

agenda of the company through a variety of systems and levers: performance metrics, communication 

and education, incentive plans, strategic analysis, mergers and acquisitions. The CFO sits at the focal point 

of virtually every set of activities a company undertakes to deliver value to its customers, employees and 

shareholders. 

JM: There are so many talented executives in Chicago, how are you going to choose the CFO of the Year? 

CF: The good news for us is that this is not a “one and done” opportunity. David, Bill and Abbie will select 

a deserving CFO from each category to recognize in 2011. Next year, FEI will sponsor the Chicago CFO of 

the Year Awards again, and another deserving set of candidates will be considered. I have no doubt that 

the award winners selected by our judges will exemplify a high degree of excellence – and set a high bar for 

future award winners. 

JM: How do you think the Chicago CFO of the Year Awards will contribute to the Chicago business community? 

CF: The Chicago CFO of the Year Awards will increase the level of recognition for the importance of the CFO 

role within the business and civic community in Chicago. It will also provide examples to organizations (for 

profit and not for profit) of what an organization should be able to expect from its CFO. This will push sitting 

CFOs to deliver more from their organizations and everyone will benefit. 

JM: Please tell us about your background. 

CF: I spent the first part of my career in finance and strategy roles. I graduated in 1978 from Chicago Booth 

with an MBA and entered the business world as a corporate finance consultant. I spent 13 years at FMC 

Corporation in various strategy and finance roles – ending up in the position of Treasurer of this global, 

industrial conglomerate. Within the span of time I was at FMC, I took a three year hiatus when my children 

were very small and I needed more control over my schedule, to teach as an adjunct professor at Chicago 

Booth. From FMC, I moved to RR Donnelley as the CFO. I spent 5 years at Donnelley, leaving in 2000. In 

2002, I co-founded Corporate Leadership Center, a nonprofi t focused on leadership development of corporate 

executi ves, with Sheila Penrose, former President of the Corporate and Commercial side of Northern Trust 

Bank. Sheila and I serve as Co-Chairmen of Corporate Leadership Center. I have served on 5 public company 


Chicago 

CFO 

of the 

Year sm 

Awards 

Mary Jo Ardizzone 

Event Chair 


boards (HNI Corporati on, Lands’ End, Hewitt Associates, Morningstar and Aon), and chaired 4 of their audit 

committ ees; as well as serving on the Board of Cornell University and chairing its audit committ ee. 

JM: You are the Co-Founder and Co-Chairman of the Corporate Leadership Center (“CLC”). Can you tell 

us about the goals of the organizati on, some of its clients, and what a typical project might be? 

CF: Corporate Leadership Center focuses on key inflection points in the career of executives. Our CEO 

Perspecti ves program (which we off er in partnership with The Kellogg School of Management) is focused on 

people on the management committee of large, complex organizations. When you join the management 

committee, you need to move from a functional focus or running a piece of the business to embracing 

the agenda of the enterprise. This world view requires a different perspective and a different set of 

skills. Likewise our Leading Women Executives program focuses on the point in a woman’s career when 

she moves from management to leadership – again requiring a different set of navigational skills and 

perspectives. Our programs serve primarily Fortune 500 companies, and the alumni of our programs 

have gone on to achieve increasing levels of success. In fact, about 12% of our CEO Perspectives Fellows 

are now sitting CEOs. 

The Tribune just did a piece on Corporate Leadership Center which may be of interest. Click here. 

JM: Cheryl, you are obviously extremely accomplished. What is the key to your success? 

CF: There is never one key to success. Some of the things that have helped me along the way include 

approaching issues from a big picture point of view (how do we create value from this?), developing lots 

of buy-in up front and designing strong plans for execution. Being open to the unexpected is also key 

(luck is very helpful!). Embracing bad news, particularly as a CFO, is really important – you can’t fix what 

you don’t understand. Being willing to try things, develop options, learn from mistakes. And a big key to 

success is the people who invest in you – having sponsors who believe in you is critical. 

JM: Thank you for all your contributi ons to the Chicago CFO of the Year Awards. I am really looking forward 

to the Event. 

Join the FEI Chicago Chapter on November 3, 2011 for the Chicago CFO of the Year Awards sm ! 

Join the FEI Chicago Chapter and our prestigious sponsors as we recognize financial 

professionals for outstanding performance in their roles as corporate financial stewards. 

The evening includes networking with Chicago’s top financial and business leaders, 

exceptional food and drink, and the presentation of the Chicago CFO of the Year sm 

Awards in five categories: large public; mid-size public; large private; mid-size private; 

and not-for-profit. Don’t miss this “must attend” event. 

To purchase your ti ckets: visit www.chicagocfo.org 

or contact the FEI Chicago Chapter offi ce at info@feichicago.org or 312-263-1661. 

Financial Executi ves Internati onal 

Chicago Chapter 

Chicago CFO of the Year sm 

2011 Awards Presentation 

Thursday, November 3, 2011 

5:30 pm 

The Sheraton Chicago 

Hotel & Towers 

301 E. North Water Street 

Chicago 

Cost to att end - $150 pp 

Table of Ten - $1,500 

FEI Chicago Dues Paying 

Members $100 pp 

5:30 – 7:00 pm - Networking Recepti on, 

Cocktails, Gourmet Food Stati ons & 

Hors d’œuvres 

7:00 pm – Dessert, 

Award Presentati ons 


Sponsor 

News 

FEI Chicago has been 

fortunate to add 

new sponsor support 

to the Chapter! 

See our new listi ng of 

Chapter Sponsors 

on Page 7! 

From Plati num Sponsor KPMG 

The FASB and IASB (the Boards) substanti ally completed their planned 

re-deliberati ons on their joint Exposure Draft (ED) on revenue recogniti on 

during their June 13-15 meeti ng. KPMG’s Defi ning Issues reviews some 

of the revenue recogniti on issues discussed in the upcoming revised 

Exposure Draft . Click here for KPMG’s Defi ning Issues. If you have any 

questi ons, please contact Steve Hajdukovic or Dan Chamberlain. 

From Gold Sponsor Houlihan Lokey 

Houlihan Lokey has released its 2010 Transacti on Terminati on Fee Study, 

which summarizes key terminati on fee metrics for M&A transacti ons announced 

in 2008, 2009 and 2010. We have also analyzed terminati on 

fees as a percentage of target enterprise value to refl ect the growing 

judicial recogniti on of enterprise value—as a benchmark for assessing 

acceptable termination fee levels. We hope you find this information 

valuable as you structure future purchase agreements. To download 

your complimentary copy of the study, please click here. 


FEI Chicago Welcomes New Plati num Sponsor PNC Financial Services Group 

The PNC Financial Services Group (www.pnc.com) is one of the 

nati on’s largest diversifi ed fi nancial services organizati ons with assets 

of $263 billion. PNC, operati ng primarily in fi ft een (15) states 

and the District of Columbia, provides retail and business banking; 

residenti al mortgage banking; specialized services for corporati ons and government enti ti es, including 

corporate banking; real estate fi nance and asset-based lending; wealth management and asset 

management. 

Through executi ve leadership, strategic investments and employees volunteerism, PNC is helping to 

build strong communiti es and create fi nancial opportuniti es for individuals, families and businesses. 

PNC’s community impact includes the following areas: 

• Community Development: PNC boosts the quality of life in neighborhoods through aff ordable housing, 

economic revitalizati on and customized fi nancial soluti ons. PNC earned an “outstanding” rati ng in 2007 

for exceeding Community Reinvestment Act standards. 

• Charitable Giving: More than $67.5 million was invested in communiti es in 2010. The PNC Foundati on 

forms partnerships with nonprofi t organizati ons to advance mutual objecti ves driven by two prioriti es: 

(1) early childhood educati on 

(2) community and economic development 

• PNC Grow Up Great: A $100 million, 10-year initi ati ve to improve school readiness among children 

from birth to age fi ve through public/private collaborati on, grants, advocacy and educati on. More than 

100,000 volunteer hours contributed by PNC employees. 

• Environmental Responsibility: PNC’s commitment to innovati on and environmentally friendly business 

practi ces during the past decade has enabled us to lower costs, increase effi ciency and improve communiti 

es. PNC has more newly constructed, LEED-certi fi ed green buildings than any company on Earth. 

Please join us in welcoming PNC to FEI Chicago! 

From Gold Sponsor Mercer 

Inside Employees’ Minds, Navigati ng the New Rules of 

Engagement 

Read Mercer’s new research conducted among 2,400 employees from 

companies of all sizes across the US about the benefi ts employees at 

small and midsize companies are looking for. Visit www.mercer.com/ 

insideemployeesminds to learn more about the compelling fi ndings of 

the What’s Working research and its implicati ons for employers. At this 

site, you can: 

• Download a summary of the US fi ndings 

• Listen to podcasts by Mercer experts 

• Parti cipate in a contest that lets you share your views – in just six 

words – on diff erent aspects of the work experience. 

From Gold Sponsor Experis 

Faced with additi onal reporti ng responsibiliti es, fewer staff , increased 

scruti ny and ti ght ti meframes, most organizati ons fi nd their personnel 

stretched to their limits at year-end. Click here for a complimentary download 

of the Year-End Planner for Finance & Accounti ng from Experis. 


S 

P 

O 

N 

S 

O 

R 

S 


The FEI Chicago Chapter thanks its 

Sponsors for their generous support! 

® 

Platinum Sponsors 

Gold Sponsors 

payroll services 

Silver Sponsors 

SOLOMONEDWARDSGROUP, LLC 

Talent. Perspective. Action. 

R 


Membership 

News 

Welcome 

New 

Members 

Timothy Czech 

Controller 

Integrated Project Management 

Company, Inc. 

Dean Hagen 

CFO 

Helio Precision Products 

Joseph Kosinski 

Director Corporate Accounti ng & 

Customs and Trade Compliance 

Abbott Laboratories 

Andrew Kotlarz 

VP, CFO, Treasurer 

Morton Salt Inc.; 

K+S Group Company 

Kevin Ozan 

Senior VP, Corporate Controller 

McDonald’s Corporati on 

Dan George Pekofske 

Assistant Corporate Controller 

Motorola Soluti ons 

Tony Peters 

Senior Director, Financial Reporti ng 

McDonald’s Corporati on 

New Member Recruitment 

Over the past several years our Chapter’s member-bring-a-prospective member campaign 

has been an effective and fun tool in promoting and building membership in the Chicago 

Chapter of FEI. There is no one who can better expound on the extensive benefits of FEI 

membership than one of our current members. The new chapter year has started and we 

will be running this program again with a few new twists and a great new Grand Prize. Let’s 

see if we can top the successful results of the past few years! 

New Member Contests 

Grand Prize - Most New Members Recruited Award 

All Expenses Paid Trip to the 2012 FEI Nati onal Summit Conference 

As an incenti ve to make the eff ort to bring new members into FEI and the Chicago Chapter, we are 

off ering an “all expenses paid” trip to the 2012 FEI Nati onal Conference in Orlando, Florida in May 

2012 to the Chicago Chapter member that recruits the most new members to the Chicago Chapter 

between August 1, 2011 and March 31, 2012. 

Here’s what you need to do: If you are introducing the qualifi ed prospecti ve member through a 

Chicago Chapter dinner meeti ng, follow the dinner meeti ng registrati on instructi ons below under 

the SECOND PRIZE rules. If you are introducing a qualifi ed prospect through other means, use the 

following procedure: 

Register your qualifi ed prospect with the FEI Chicago Chapter Offi ce. Supply the prospect’s name, 

ti tle, company, phone and email address. All of this informati on is required. In additi on, your 

prospect must qualify for FEI membership. Eligibility requirements can be found by clicking here. 

The member with the greatest number of prospects who become new approved FEI members and 

who join the Chicago Chapter by March 31, 2012 will be the winner. We’ll periodically report on our 

contest leaders through the monthly newslett er so you’ll know where you stand. 

Second Prize - Most New Prospects Award 

One Year Free Chicago Chapter Dues 

Share your great FEI experiences with valued friends and colleagues who are potenti al members. 

Parti cipate in the chance to win free Chicago Chapter dues for the 2012-13 year. Here’s what you 

need to do: 

1. Invite and bring a qualifi ed prospecti ve member to one of this year’s monthly dinner meeti ngs. 

Pre-register your guest with the FEI Chicago Chapter Offi ce. Supply the guest’s name, ti tle, company, 

phone and email address. All of this informati on is required. 

2. Register your guest and yourself at the meeti ng registrati on desk at the dinner. You will receive 

one point for each qualifi ed Prospecti ve Member Guest that you bring. 

3. At our dinner in March 2012, the member who has accumulated the most points will be awarded 

the Second Prize Package of free Chicago Chapter dues for the 2012-13 membership year. 

Invite a guest(s) to our fi rst dinner meeti ng on Thursday, September 22 to hear Mark Angelson, 

Deputy Mayor of the City of Chicago discuss Chicago’s Economic Development Strategy and get a 

jump on being a GRAND PRIZE or SECOND PRIZE winner. Your qualifi ed prospecti ve member guests 

att end the dinner at the Chapter’s expense. Call 312-263-1661 with any questi ons and to register 

your guests. To review prospecti ve member qualifi cati ons, please click here. 

We have another great year in front of us for the Chicago Chapter of FEI. Share the experience by 

inviti ng qualifi ed colleagues, friends and business contacts to join FEI and the Chicago chapter and 

get in the running to win one of this year’s great prizes! 


8 • August/September 6 • July 2011

FEI Private 

Company 

Roundtable 

Tyler Roberts 

Policy Analyst 

Financial Executives 

International 

1825 K Street NW, Suite 510 

Washington D.C. 20006 

(p) 202.626.7807 

(f) 202.626.6555 

troberts@ 

financialexecutives.org 

www.financialexecutives.org 


Washington Policy Conference 

We are pleased to announce that the FEI Chicago Chapter is a disti nguished chapter sponsor for FEI’s Washington 

Policy Conference to be held on September 26-27 in Washington, D.C. 

The 2nd Annual Washington Policy Conference will bring together key business and government leaders who 

will provide insight into the top policy questi ons facing senior fi nancial executi ves and their companies, such 

as the prospects for tax reform; policy impacts of reigning in the defi cit; uncertainty and what it means for 

American businesses; and navigati ng the current regulatory environment. 

Joining this year’s conference, the Hon. Michael Oxley, former Congressman and Chairman of the House Financial 

Services Committ ee, who is best known for his co-authorship of the landmark Sarbanes-Oxley Act of 2002; 

Fred Malek, former President of Marriott Hotels and Northwest Airlines, who will share his experti se during 

the conference, not only as a successful business leader, but also as adviser to four U.S. Presidents over the 

past two decades. Special Representati ve Reta Jo Lewis, U.S. Department of State, who served as the Director 

of Business Outreach for the Obama-Biden Transiti on Project will add the internati onal perspecti ve this year 

during a presentati on on business and the global economy. Plus, senior-level staff from congressional committ ees 

and the Treasury Department have also been confi rmed to share their inside knowledge during in-depth panel 

discussions. 

In additi on to connecti ng att endees with policymakers, business leaders and experts on the key policy discussions 

in Washington, former Gov. and Rep. Mike Castle (R-Del.) and former Gov. and Rep. James Blanchard (D-Mich.) 

will parti cipate in what is sure to be a lively debate on the outlook for the 2012 electi ons. This debate will be 

moderated by nati onal politi cal commentator, Karen Hanrett y, Managing Director at Qorvis Communicati ons, 

who regularly appears on Fox News Channel, MSNBC and CNN. 

Don’t miss this exciti ng event! To register for the conference and view the full agenda, please visit htt p://www. 

fi nancialexecuti ves.org/policy. We look forward to seeing you in September! 

Private Company Roundtable Event 

FEI and the Private Company Roundtable are pleased to announce, Terri Polley, President and Chief Financial 

Offi cer of the Financial Accounti ng Foundati on (FAF) as a speaker at the Inaugural Private Company Roundtable 

Town Hall to be held in Washington, D.C. on Sept. 26 at the Hotel Monaco in conjunction with the Second 

Annual Washington Policy Conference. 

Ms. Polley is the fi rst person to hold the ti tle of CEO in the 38-year history of the FAF, which is the independent, 

private-sector organization responsible for the oversight, administration, and finances of the Financial 

Accounti ng Standards Board (FASB), the Governmental Accounti ng Standards Board (GASB), and their Advisory 

Councils. 

Since being appointed president of the FAF in 2007, Ms. Polley has played a key role in positi oning the Foundati on 

and its standard-setti ng Boards to successfully meet the challenges of rapidly-changing economic and regulatory 

environments. This includes implementi ng initi ati ves to enhance the Foundati on’s outreach to investors and 

other key consti tuents, establishing partnerships with professional accounti ng organizati ons to address issues 

in private-company fi nancial reporti ng, and working to achieve permanent funding for the GASB criti cal to its 

conti nued independence. Accounti ng Today named her as one of its “10 Worth Watching,” a designati on 

honoring women in leadership roles in the accounti ng industry. 

Ms. Polley brings more than 20 years of experience with FAF and FASB to her current role. Prior to being appointed 

president, she served as Executi ve Director of Advisory Groups for the FASB, acti ng as the primary liaison between 

the Board and its consti tuent organizati ons that provide input into its decision-making processes. From 1990 

to 1999, Ms. Polley served as Controller of the FAF. She joined the FASB in 1987 as a Technical Associate from 

Arthur Andersen and Company in its Stamford, Connecti cut offi ce, where she was a Senior Accountant. 

The Private Company Roundtable is currently made up of 330 companies from 43 states and 62 FEI Chapters 

and was established to provide a forum for members from private companies to network and discuss private 

company fi nance issues. The Town Hall will begin at 2:00 p.m. on Sept. 26 and will give you access to top 

policy minds in Washington, as well as a forum to discuss the issues impacti ng private companies with other 

Roundtable members from across the nation. If you would like to arrive early in D.C. on the 26th, FEI is 

planning a series of meetings with Congressional offices as well as an opti onal lunch. 

For more informati on on the Private Company Roundtable or the Town Hall event, please contact Tyler Roberts 

in FEI’s Government Aff airs offi ce at 202.626.7807. 


Career Management Group 

From our Career Management Group 

(CMG) Chair Ron Zoromski 

CMG Breakfast event: 

September 1 st - A panel of experts in 

Organizati on Development and Career 

Coaching have been assembled to discuss 

“The Keys to Developing Top Talent” 

You need to spend some ti me and money 

to develop those on your team or they’ll never reach their full 

potenti al, your business loses and eventually they leave. Join us 

at the September CMG breakfast to get some new ideas on how 

to bett er: 

Invest in your people; Reward your high achievers; Develop 

yourself to bring out the best in others. 

Panel includes: 

Joe Baker 

Leadership consultant and executi ve coach with PeopleResults 

Tiza Pyle, PhD 

Organizati on Eff ecti veness Consultant and Executi ve Coach with 

Pyle Consulti ng Group, Inc. 

Jeff Rossett 

Director at MidwestHR LLC & Managing Director at Chicagoland 

Business Leaders Forum 

Pam Wilson 

VP Client Relati onships with Kensington Internati onal 

FEI Career Services 

Career Advice 

• executi ve career briefcase 

career management tools and resources for the senior-level 

fi nancial executi ve 

• career toolkit 

career tools and resources for the accounti ng and fi nance professional 

• “Everything you needed to know about a job search” (ppt) 

Networking and FEI Career Alliances 

• career alliances 

links to other online resources outside of FEI 

• chapter career services chairs - networking contacts 

FEI members only - network with local chairs 


Career Management breakfast workshops are open to all chapter 

members. Workshops are held on the first Thursday of every month 

at the Rosewood Restaurant (9421 W. Higgins Road, Rosemont). 

Registration begins at 7:15 am, and the workshops start at 7:45 am. 

Please come early to network! 

CMG welcomes guests! Prospecti ve members may attend three Career 

Management Group breakfasts as our guest. The first meeting is free; 

the charge for subsequent meetings is $25/meeting. 

Registration is now required for all Career Management Group 

meetings! Please register with the FEI office (info@feichicago.org 

or 312- 263-1661). 

The Career Management Group Needs You! 

Are you interested in becoming more involved with FEI and the CMG? 

Do you have ideas on how to further strengthen the CMG? If so, the FEI 

CMG needs you! 

The FEI CMG Committee is seeking creative, energetic volunteers to 

help take the CMG to the next level. Your involvement will not only 

help build a stronger group, it will also offer YOU the opportunity 

to further develop relati onships with your peers, make new contacts, 

and gain valuable experience. 

Interested in joining the Committee? Please contact Ron Zoromski at 

�on�oromski@aol.com. 

The Career Management Group is LinkedIn! 

Over 300 job leads have been posted to the Chicago CMG LinkedIn 

Group. Join now and get access to these leads! 

Need Finance Talent? 

If you have a need for the best in financial talent, the FEI Career 

Management Group offers top-notch and proven candidates who 

possess a wide range of financial skills and are available for project 

and full time work. If you have an opening at your company, please 

contact the FEI office (info@feichicago.org) or Ron Zoromski 

(ronzoromski@aol.com). 

Career Tools and Resources 

• executi ve search fi rm contacts 

• surveys & studies 

• career arti cles 

• career development workbook 

• SmartPros Online Financial Training 

• Resume Writer 

• CareerTrax newslett er 

• career bookstore 

• CPE Center 


Event Calendar 

August 2011 

Thursday, August 4 

Career Management Group Meeting 

Registrati on at 7:15am, Program begins at 7:30am 

“Networking and Navigati ng the Business Social Event “ 

Cyndi Maxey 

Rosewood Restaurant 

9421 W. Higgins Road 

Rosemont 

Wednesday, August 17 

Power Roundtable Breakfast 

7:30am 

Open Forum with Facilitators at 3 diff erent locati ons 

* Chicago...Sopraffi na Marketcaff e 

located in the AT&T/USG building 

W. Adams St., Chicago 

* Deerfi eld...Rhapsody Café 

located at 833-C Deerfi eld Road, Deerfi eld 

* Oakbrook Terrace...Denny’s 

located at 17 West 22nd Street, Oakbrook Terrace 

(near intersecti on of Midwest Road and 22nd St.) 

September 2011 



“The Keys to Developing Top Talent” 

Panel Discussion 


Rosewood Restaurant, 9421 W. Higgins Road, Rosemont 

Wednesday, September 14 

FEI Nati onal with SAP presents 

“Building the Business Case for Disclosure Management” 

Registrati on, Breakfast and Networking 8:00 – 8:30am 

Program begins at 8:30am 

Summit Executi ve Centre 

205 N. Michigan Ave., Chicago 


Professional Development Meeting 

3:30pm 


5:30pm 

Mark Angelson, Deputy Mayor of the City of Chicago 

The Metropolitan Club, Willis Tower 

233 S. Wacker Dr., Chicago 

October 2011 

Thursday, October 6 



Rosewood Restaurant, 9421 W. Higgins Road, Rosemont 

Tuesday, October 18 

Professional Development Meeting 

3:30pm 


5:30pm 

The Hon. David M. Walker 

Founder, President & CEO, 

Comeback America Initi ati ve (CAI) 

The Union League Club, 65 W. Jackson Blvd., Chicago 

November 2011 

Thursday, November 3 

Chicago CFO of the Year sm Awards 

5:30pm 

Sheraton Chicago Hotel & Towers 

301 E. North Water Street, Chicago 

FEI Chicago Chapter dues paying members - $100 

All others - $150pp 

FEI Meeti ng att endees are welcome to wear business casual atti re to all meeti ngs. 

Contact the FEI Chicago Offi ce at info@feichicago.org or 312-263-1661 to register for any of these meeti ngs. 

CHICAGO CHAPTER MEMBERSHIP DIRECTORY 

The FEI Chicago Chapter will be providing an electronic membership directory for its members for 2011/2012. In order to prepare 

the directory with the latest member informati on, please visit www.fi nancialexecuti ves.org and select “my account” (at very top 

of page) and review your informati on, making any necessary updates. We believe you will fi nd the informati on in the directory 

very useful in knowing your fellow local members. Your immediate att enti on is appreciated. Should you have any questi ons, 

please email FEI Chicago Chapter Administrator Susan Gidley at info@feichicago.org. Thank you. 


11 • August/September 10 • March 2011

Officers 

President 


richard@rasteele.com 

Executive Vice President 

Janeen McGreal, Tucker Development Corp. 

jmcgreal@me.com 

Immediate Past President 

John Trakselis, Vistage International 

john.trakselis@vistage.com 

Vice President, Membership 

Otis Usher 

otisusher@comcast.net 

Vice President, Member Services 

Sharon Walton, Lane Hospitality 

swalton@lanehospitality.com 

Vice President, Programs 

David Burke, Celtic Insurance Company 

dburke@celtic-net.com 

Vice President, Career Management 

Ron Zoromski 

ronzoromski@aol.com 

Treasurer 

Phil Maughan, Northern Trust Corp. (retired) 

plmaughan@pobox.com 

Secretary 

Carla Carstens 

cscarstens@usa.net 

Directors 

Liaison, FEI National Chapter Leadership Council 

John Trakselis, Vistage International 

john.trakselis@vistage.com 

Liaison, FEI National Membership Committee 

Phil Maughan, Northern Trust Corp. (retired) 

plmaughan@pobox.com 

Liaison, FERF National Research Committee 

Marty Ross, Telephone and Data Systems 

marty.ross@teldta.com 

Liaison, FEI Private Company Policy Committee 

Mark Smetana, Eby-Brown 

mark.smetana@eby-brown.com 

Chair, Academic Awards 

Pat Unzicker, DeVry Inc. 

punzicker@devry.edu 

Chair, CFO of the Year Award 

Mary Jo Ardizzone, Edward Jones 

maryjo.ardizzone@edwardjones.com 


Chair, Consultants & Entrepreneurs 

Mike Nadler, MH Nadler & Associates 

mnadler792@ameritech.net 

Chair, Diversity 


cscarstens@usa.net 

Chair, Member Relations 

Bill Seiden, The Seiden Co. 

se2@comcast.net 

Chair, Membership Recruitment 

Jim Patterson, PLS Financial Services, Inc. 

jim.patterson1234@gmail.com 

Chair, Membership Retention 

Gary Parks, Pinnacle Biologics, Inc. 

gcparks421@aol.com 

Chair, Social Events 

Allan Drebin, Northwestern University (retired) 

ard@kellogg.northwestern.edu 

Chair, Special Projects 

Carol Sherman, TransLumen Technologies 

carol.sherman@translumen.net 

Chair, Website & Social Media 

Skip Newman 

mail@skipnewman.com 

Chair, Women’s Strategic 

Professional Alliance (SPA) 

Sharon Walton, Lane Hospitality 

swalton@lanehospitality.com 

At-Large Directors: 

Frank Cesario, Nanophase Technologies 

Corporation 

fcesario@nanophase.com 

Rich Kuzmar 

ccarak1@yahoo.com 

Jim Patlyek, Patlyek Consulting 

jim.patlyek@patlyekconsulting.com 

Staff: 

Chapter Administrator 

Susan Gidley, Gidley Management Group, Inc. 

admin@feichicago.org 

Alexandra Haban, Gidley Management Group, Inc. 


FEI 

Chicago 

Chapter 

Officers 

and 

Directors 


Chicago Chapter Standing Committees 

CFO of the Year Award Committ ee 

Chair: Mary Jo Ardizzone, Edwards Jones 

Frank Cesario, Nanophase Technologies Corp. 

Tom Figel, Lake Eff ect Communicati ons 

Susan Gidley, FEI Chicago Chapter 

Joan Mazurek, Environmental Design Internati 

onal 


Heather Moss, Mercer 


Skip Newman 


Membership Committ ee 

Chair: Oti s Usher 

Steve Anderson, Robert Half Management 

Resources 

Jon Arnold, The Plexus Groupe, LLC 

Patt y Bogosh, Robert Half Management 

Resources 

Tony Harmon, KPMG 

Joe Kayser, AIT Worldwide Logisti cs, Inc. 

Rich Kuzmar 

Dan McHugh, Fift h Third Bank 

Jeff Michalski, Suzo-Happ 

Gary Parks, Pinnacle Biologics, Inc. 

Jim Patlyek, Patlyek Consulti ng 

Jim Patt erson, PLS Financial Services, Inc. 

Bill Seiden, The Seiden Co. 


Rick Ulmer, Marsh 

Consulti ng/Entrepreneur 

Networking Group 

Chairs: Sharon Walton, Lane Hospitality 


PLATINUM Level 

KPMG 

Dan Chamberlain 

Steve Hajdukovic 

Oak Stevens 

PNC Financial Services Group 

David Gooken 

Daniel Schuett e 

GOLD Level 

BlueCross BlueShield 

of Illinois 

Karen Atwood 

Denise Bujak 

Mary Ann Schulz 

Experis 

Jana Carpenter 

Cynthia Gronroos 

Jeff rey LeVant 


Women’s SPA 

Chair: Sharon Walton, Lane Hospitality 


Teresa Krafcisin, Morningstar 

Maggie Martensen, Freshii 


Jean Saelens, True Value Co. 

Randa Saleh, Hyatt Corporati on 

Ann Simms, American Planning Associati on 

Member Relati ons Committ ee 

Chair: Bill Seiden, The Seiden Co. 

Tom Barmore, Northwestern Mutal Life 

Howard Blietz 

Nick Ciotola, McDonough Associates, Inc. 

Karen Currin 

Jerry Herb, McCarthy Bertschy and 

Associates, Inc. 

Ed Karasek, First Chicago Bank & Trust 

Joe Kayser, AIT Worldwide logisti cs, Inc. 

Larry Kowalski, The Mentor Group 

Bill McNitt , Thurston Group, LLC 

Jeff McReynolds, The Strive Group 

Steve Mickelson, Blue Cross Blue Shield Associati on 

Deb Morrin, Deborah Morrin CPA 


Skip Newman 

Jon Paul, Value Added Finance Resources 

Marty Ross, Telephone & Data Systems, Inc. 

Addie Ruey, Addie T. Ruey, CPA 

Jerry Sweas, Sweas Consulti ng 

Rich Terrett 

Pat Unzicker, DeVry Inc. 

Frank Waldeck 

Tim Young, TreeHouse Foods 

Chicago Chapter Sponsors 

Fift h Third Bank 

Dan McHugh 

Houlihan Lokey 

Michael Bett 

Kreg Jackson 

Brent Maier 

Lee & Associates 

CJ Kuehl 

Ellen Steinbrecher 

Marsh 

Rick Ulmer 

Mercer 

Heather Moss 

Oracle 

Lisa Rinehart 

Bret Schneider 

Heather Swanson 

Paycor 

Jeff Borcherding 

Laura Sprague 

Resources Global 

Professionals 

Mary Aruti 

Julia Chapman 

Dick Derrick 

Robert Half 

Management 

Resources/Proti viti 

Patt y Bogosh 

David Brand 

Susan Kingman 

Tabatha Knopick 

Steve Lickus 

Public Relati ons & Communicati ons 

Chair: Janeen McGreal, Tucker Development Corp. 

Dan Chamberlain, KPMG 

Tom Figel, Lake Eff ect Communicati ons 

Jeff rey LeVant, Experis 

Joan Mazurek, Environmental Design Internati onal 

Carol Sherman, TransLumen Technologies 

Programs Committ ee 

Chair: Dave Burke, Celti c Group, Inc. 

Frank Cesario, Nanophase Technologies Corp. 

Allan Drebin, Northwestern University (reti red) 

Terry Flanagan, Smart Decisions 

Jerry Herb, McCarthy Bertschy & Associates 

Pat Jones, Addison Search 

Rich Kuzmar 


Dan McHugh, Fift h Third Bank 

Marty Ross, Telephone and Data Systems 


Ellen Steinbrecher, Lee & Associates 

Career Management 

Chair: Ron Zoromski 

John Breslin 

Dave Betti 

Steve Callisher, The Mentor Group Inc. 

Vince DiRaddo, Prairie Capital Advisors 

Dan Dunne 

Jeff Gerns 

Pat Jones, Addison Search 

John Liacone, Overture Group 

Bob Linn 

James D. Miranda, Tegrant Corporati on 

Rich Terrett 

SILVER Level 

American Appraisal 

Patrick Collins 

Tim Couillard 

Steven Fischoff 

Gary Frantzen 

Lake Eff ect 

Communicati ons 

Tom Figel 

Mentor Group 

Steve Callisher 

Kathy Kilroy 

Larry Kowalski 

NASDAQ OMX 

David Melendrez 

Numerate Partners 

Michael Robinson 

Overture Group 

John Liacone 

SolomonEdwardsGroup, LLC 

Chris Denver 

Brian Markley 

The Plexus Groupe, LLC 

Jon Arnold 


09/14/2011: Building The Business Case for Disclosure 

Management (Chicago, IL) 

09/26/2011: Washington Policy Conference 2011 (Washington, DC) 

11/14/2011: Current Financial Reporti ng Issues Conference 2011 

(New York, NY) 

11/14/2011 : Hall of Fame Gala 2011 (New York, NY) 

05/21/2012: Summit 2012 (Orlando, FL) 

FEI Headquarters and FERF News 

FEI Conferences FEI Webcasts 

FEI Newsletters 


08/18/2011: How to Leverage Performance Management to Maximize 

Profi tability within the Banking Industry 

08/25/2011: Navigati ng the Tax and Accounti ng Gaps in M&A Reporti ng 

09/08/2011: Ernst & Young LLPs Q3 2011 Financial Reporti ng Update 

09/13/2011: Perfect your Business Vehicle Program – A MillerCoors Case Study 

09/21/2011: Member Benefi ts 101: Getti ng To Know Your FEI - 2:00 pm Eastern 

09/27/2011: Goodwill Impairment Study Results presented by Duff & Phelps and 

Financial Executi ves Research Foundati on (FERF) 

FEI Express: Public Company Editi on The very latest fi nancial issues, reported when they´re hot, and delivered straight from the president´s desk to yours. 

FEI Express: Private Company Editi on The very latest fi nancial issues, reported when they´re hot, and delivered straight from the president´s desk to yours. 

CareerTrax members only 

Be proacti ve in managing your career. Check here for the latest in job posti ngs, career management news, trends and stati sti cs. 

Finance and Informati on Technology 

Technology tools and IT issues aff ecti ng fi nancial executi ves-from ERP to Disaster Recovery, and beyond. 

I.O.U. 

Insights, Observati ons and Updates from K Street to Wall Street. 

FERF Reports & FERF Products & Services 

FERF Reports 

08/03/2011: CFO Quarterly Outlook Report: August 2011 (25 pages) 

06/29/2011: Technology Issues for Financial Executi ves: 2011 Annual 

Report (96 pages) 

06/29/2011: The Benefi ts of Conti nuous Monitoring (94 pages) 

06/29/2011: A User’s Guide to the Cloud (26 pages) 

06/28/2011: Trends and Tradeoff s in Employee Medical Benefi ts 

(19 pages) 

FERF Products & Services 

FERF Pros > Access to unlimited CPE credits via distance learning 

AuditFeeCheck > Benchmark your audit fees, audit hours, blended rate per 

hour and other audit informati on. 

FinanceFuncti onCheck > Benchmark your staffi ng and other fi nance functi on 

related costs to see how your company measures up against other companies. 

PayCheck > Starti ng with your ti tle, company industry, company type, 

company locati on, and company annual revenue, you can benchmark your 

base salary, annual bonus opportunity and long-term incenti ves. 

FELIX > A moderated, e-mail based discussion forum that allows FEI 

members to communicate with and learn from their peers. 

Ask FERF > Can’t fi nd what you’re looking for? Send a questi on to a FERF 

researcher. 

The Knowledge Center > FERF’s online library of resources and references, 

from Accounti ng Policies to XBRL. 

Academic Research 

FEI Chapter Academic Awards 

FERF Alerts 

07/08/2011: Financial Reporti ng and Regulatory Update for the Quarter 

ended June 30, 2011: Highlights for Public Companies (14 pages) 


ended June 30, 2011: Highlights for Private Companies (13 pages) 

04/29/2011: Are You Ready for the Proposed Changes to Hedge 

Accounti ng? (13 pages) 

04/25/2011: A Comparati ve Look at Health Care Cost Containment 

Strategies (12 pages) 


ended March 31, 2011: Highlights for Private Companies (13 pages) 


ended March 31, 2011: Highlights for Public Companies (19 pages) 

FEI Financial Reporting 

Announcements, Press Releases and FEI Summaries 

FASB 

Recent announcements from the Financial Accounti ng Standards Board 

including, new Exposure Draft s, project updates, and supporti ng news. 

SEC 

Most recent developments from the U.S. Securiti es and Exchange 

Commission including rule proposals and other press releases. 

PCAOB 

Informati on and updates from the Public Company Accounti ng Oversight 

Board including rules, meeti ng summaries, and general pronouncements. 

IASB 

News from the Internati onal Accounti ng Standards Board. 

Sarbanes-Oxley Resources 

Informati on, updates, analysis and implementati on guidance for the 

provisions of the Act 

COSO Resources 

Other Finance News 

Other news items impacti ng the fi nance executi ve. 

FEI Advocacy, Newest Issue Articles 


Benefits Finance (CBF) 

Develops recommendations on existing and proposed legislation and 

regulati ons aff ecti ng pension and profi t sharing plans, health and disability 

insurance, unemployment compensati on and regulati on, and other areas. 

When deemed appropriate, CBF may communicate positi ons to government 

agencies, legislators and professional and business organizati ons. 

Committ ee Meeti ngs 

10/03/2011 : October 2011 Meeti ng (Washington, DC) 

12/05/2011 : December 2011 Meeti ng (New York, NY) 

Committ ee Chair 

Bruce M. Goldstein, Phillips-Van Heusen Corporati on 

Staff Contact 

Christi na Crooks, Manager, Government Aff airs – Financial Policy 

ccrooks@fi nancialexecuti ves.org | 202-626-7803 

Corporate Reporting (CCR) 

Monitors developments & issues relati ng to accounti ng/auditi ng/external 

reporting, including policies, rules, regulations, and standards; 

communicates these to members, the FASB, and government agencies. 

Represents interests on accounti ng/reporti ng matt ers in communicati ons 

to the SEC. 


09/15/2011 : September 2011 Meeti ng (Irving, TX) 

Chicago Chapter Committ ee Members include: 

Michael Cleary, The Boeing Co.; Anthony Coughlan, Accenture; Penny 

Hughes, Accenture; Robert Kuehnau, Accenture; Stephen Makey, AON 

Corp.; Laurel Meissner, AON Corp.; Greg Smith, The Boeing Co.; John 

Wozniak, Motorola Soluti ons 


Lorett a V. Cangialosi, Pfi zer, Inc. 

Staff Contact 

Lorraine Malonza, Senior Manager, Technical Accounti ng 

lmalonza@FinancialExecuti ves.org | 973-765-1047 


FEI Advocacy and Accounting Policy Committees 

Private Company Policy (CPC-P) 

Responsible for monitoring and developing positions on legislation, 

regulations and other public policy initiatives that impact privately held 

companies. CPC-P and the FEI staff are the primary resource for drafting 

comment letters and position papers for use with policy makers. 


09/01/2011 : Fall Event (phone conference) 


Mike Adhikari, Illinois Corporate Investments; Marie Hollein, Financial 

Executi ves Internati onal; John Hrudicka, Elkay Manufacturing Co.; 

Michael Kenny, Panduit Corp.; Gary Ontko, Wells Manufacturing Co.; 

Mark Smetana, EBY-Brown Co. 


Mark Smetana, EBY-Brown Co. 

Staff Contact 

Christi na Crooks, Manager, Government Aff airs – Financial Policy 


Corporate Treasury (CCT) 

Provides a forum for FEI members, namely treasurers to formulate opinions 

and monitor developments and issues that impact treasurers. These issues 

include credit rati ngs, access to capital, risk and many others. CCT disseminates 

informati on as it is necessary to the Committ ee and to the broader FEI 

membership. The Committ ee draft s comment lett ers and educates relevant 

policy makers and regulators on issues impacti ng treasurers. 


08/17/2011 : August 2011 Quarterly Meeti ng (phone conference) 

10/27/2011 : October 2011 Meeti ng (New York, NY) 


Susan M. Stalnecker, E.I. duPont de Nemours and Company 

Staff Contact 

Christi na Crooks, Manager, Government Aff airs, Financial Policy 


Government Business (CGB) 

Initi ates studies and develops positi ons on existi ng/proposed legislati on and 

regulati ons aff ecti ng accounti ng principles/standards/practi ces, and rules 

that must be followed by businesses providing goods & services to the 

Federal sector. CGB communicates its fi ndings to federal agencies, Congress 

and other parti es. 


None scheduled 


Laurie Schmidgall, The Boeing Co.; Marie Hollein, Financial Executi ves 

Internati onal 


Paul J. Cienki, Honeywell Internati onal, Inc. 

Staff Contact 

Christi na Crooks, Manager, Government Aff airs, Financial Policy 


Taxation (COT) 

Formulates statements/positi ons on tax legislati on, policies, practi ces, 

rules and regulati ons, addressing economic/social implicati ons of taxes, 

simplifi cati on and administrati on, and tax and accounti ng relati onships, 

and communicate these to the executi ve and legislati ve branches of the 

government. 


10/13/2011 : October 2011 Meeti ng (Washington, DC) 


Robin Beran, Caterpillar Inc.; Jeff rey Emme, Sara Lee Corp.; Marie Hollein, 

Financial Executi ves Internati onal; Karen Matusinec, McDonald’s Corp. 


Ronald D. Dickel, Intel Corporati on 

Staff Contact 

Tyler Roberts, Policy Analyst 

troberts@fi nancialexecuti ves.org | 202-626-7807 


FEI Advocacy and Accounting Policy Committees 

Private Company Roundtable (PCR) 

Provides a forum for members from private companies to network and 

discuss private company fi nance issues. The Private Company Roundtable 

directly connects FEI members to exclusive legislati ve content and provides 

a face-to-face dialogue with key decision-makers in Washington, D.C. 


09/26/2011 : September 2011 Town Hall (Washington, DC) 


Mike Adhikari, Illinois Corporate Investments; Jason Blake, Tooling and 

Manufacturing Assn.; Melvyn Cohen, Carpet Cushions & Supplies; Sally 

DelBeccaro, Witt /Kieff er, Ford, Hadelman, Lloyd Corp.; Robert Gold, United 

Plasti cs Group, Inc.; Marie Hollein, Financial Executi ves Internati onal; John 

Hrudicka, Elkay Manufacturing Co.; Joseph Italiano III, ICC - Nexergy, Inc; 

James Jones, Edward Don & Co., Michael Kenny, Panduit Corp., Gary 

Kovanda, eComputer, Inc.; Leonard Kuhr, Roundtable Healthcare Partners 

LLC; Laurence Leive, McMaster-Carr Supply Co.; Rodney Liddle, NFC; Kathleen 

Noe, Fellowes, Inc.; Gary Ontko, Wells Manufacturing Co.; James Patlyek, 

Patlyek Consulti ng, LLC; Donald Schaff er, TTX Co.; Mark Smetana, EBY-Brown 

Co.; Richard Steele; Gerald Sweas, Sweas Consulti ng, LLC; Gerald Wawrzynek, 

Solo Cup Co. 


Timothy P. Anglim, Yes CFO, LLC 

Staff Contact 

Tyler Roberts, Policy Analyst 

troberts@fi nancialexecuti ves.org | 202-626-7807 

Comment Letters 

FASB comment lett ers 

SEC comment lett ers 

PCAOB comment lett ers 

IASB comment lett ers 

COSO comment Lett ers 

other comment lett ers 

2001 & Prior Lett ers 


FEI Advocacy 

Private Company Standards(CPC-S) 

Responsible for monitoring and developing positions on accounting, 

auditing and related initi ati ves that impact privately held companies. CPC-S 

and FEI staff are the primary resource for draft ing comment lett ers and 

positi on papers for use with policy makers on these matt ers. 




Marie Hollein, Financial Executi ves Internati onal; Jeff rey McReynolds, 

The Strive Group 


George W. Beckwith, Nati onal Gypsum Company 

Staff Contact 

Lorraine Malonza, Senior Manager, Technical Accounti ng 

lmalonza@FinancialExecuti ves.org | 973-765-1047 

Finance & IT (CFIT) 

Addresses the needs and interests of fi nancial executi ves as strategic leaders, as 

they strive to realize measurable and sustainable performance improvements 

while maintaining fi nancial control. Develops informati on technology related 

programs and services targeted to meet the strategic needs of FEI members. 

When deemed appropriate, CFIT may communicate positi ons to government 

agencies, legislators and professional and business organizati ons. 




Robert Shultz, Hewlett -Packard Company 

Staff Contact 

William Sinnett , Director, Research 

bsinnett @FinancialExecuti ves.org | 973.765.1004 

Newest Issue Articles 

08/08/2011: FASB Solicits Private Co. Input On Parti cular Standards At 

Upcoming Roundtables 

08/03/2011: Short- And Long-term Outlook For Corporate Taxati on, By 

E&Y 

08/02/2011: Budget Control Act Of 2011, CCH Summary 

08/02/2011 : SEC’s Work Plan for the Considerati on of Incorporati ng 

Internati onal Financial Reporti ng Standards 

07/08/2011 : Corporate Treasurers Prepare For Downgrade 


BUILDING THE BUSINESS CASE FOR DISCLOSURE MANAGEMENT 

Automating the Last Mile of Finance 

Presented by 

and 

Wednesday, September 14 

Summit Executive Centre | 205 N. Michigan Avenue | Chicago, IL 60601 

_____________________________________________________________________ 

EARN UP TO 3.5 CPE CREDITS! 

_____________________________________________________________________ 

The term “financial close” describes a corporation’s ability to complete its accounting cycles and produce financial statements for internal 

management and external legal reporting. The requirement to close books quickly and with quality is a key indicator for the success of a 

company’s finance function. Recently, there has been an increasing focus on automating the “last mile of finance” with disclosure 

management solutions, to manage the production, filing, and publication of financial statements and reports, driven in part by the 

increasing global mandates for companies to submit electronic filings in the XBRL (eXtensible Business Reporting Language) format. This 

half‐day seminar will focus on trends, issues, and strategies for accelerating the financial close, with a concentration on automating the 

financial and regulatory disclosure processes. 

8:00 a.m. ‐ 8:30 a.m. Registration, Breakfast and Networking 

8:30 a.m. – 10:45 a.m. Welcome, Speaker Introductions and Presentations 

Benefits of an Accelerated Financial Close 

Mike Willis, Partner, PwC 

One of the common measures of a best‐run finance organization is the ability to reduce the time needed for their 

financial close process. Hear about the issues facing companies in decreasing this cycle, and the key performance 

indicators that help measure progress towards reaching that goal. Learn how automation can enable a faster 

close, and the benefits that companies can achieve by having faster access to accurate information to enable 

better decision‐making. 

Accelerated the Publication of your Financial Statements and your XBRL Filings 

George Neal, Senior Director, Center of Excellence, SAP 

Muthu Ranganathan, Director ‐ EPM in Global Center of Excellence, SAP 

Disclosure management applications enables a collaborative, flexible, and compliant process to reduce the time, 

risk, and cost of regulatory filings and disclosures. Hear about the collaborative process that facilitates an 

auditable, compliant workflow for the production and approval of financial and regulatory statements and 

disclosures and learn about how the creation of XBRL filings is an integral part of the disclosure management 

process. 

Best‐In‐Class Organizations 

Jon Church, Managing Director, Cundus Inc. 

Hear detailed case studies of how customers improved their effectiveness and reduced their risks by automating 

the last mile of finance. Understand the challenges they faced and the substantial benefits they realized. Learn 

what makes a disclosure management project successful, including best practices for project planning and 

organization, allocating resources and timelines, and measuring successful outcomes. 

11:00 a.m. – 11:20 a.m. Q&A Session 

11:20 a.m. – 11:30 a.m. Program Conclusion and Final Thoughts 

REGISTER TODAY! www.financialexecutives.org/events

Financial Accounting & Reporting Update Conference 

November 17-18 at the Chicago Intercontinental on Michigan Avenue 

16 Hours of CPE 

We are seeing an unprecedented level of major accounting changes from US and international 

standard-setters. This conference will address the latest developments in key areas. The format of 

pairing panelists from industry and public accounting is designed to give a fuller perspective. 

Click the link for the full conference agenda and speaker information: 

http://www.acslive.com/events/financial_chicago.html 

Key topic areas include financial instruments, FASB update, leasing, revenue recognition, fair 

value, consolidations, business combinations, IFRS, regulatory reform and more. Pricing is 

regularly $895 but you can save $100 by being one of the first 25 to register and another $100 by 

registering at least 45 days prior to the conference. 

Conference Speakers Include (with more to follow): 

Tim Schott, Deloitte, Partner in Financial Accounting & Reporting Services 

Arie Wilgenburg, Deloitte, Principal in National Office (Former SEC PAF) 

Tom Adams, KPMG, Director in Accounting Advisory Services 

Chad Chevalier, Sara Lee, Director of External Reporting 

David Lynn, Morrison Foerster, Partner (former SEC Chief Counsel) 

Jamie Mayer, Grant Thornton, Executive Director (former FASB practice fellow) 

Sarah Rich, SunTrust Bank, Accounting Consultations Group 

John Benedetti, PwC, Senior Manager in Transaction Services group 

Accounting Conferences and Seminars LLC 

761 W. Sproul Rd. #181 

Springfield, PA 19064 

Phone (877) 440-0227 toll free

FEI Newsletter August September 2011.indd - Financial Executives ...

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