Boeing CFO Reiterates Delivery Target of 787; No One Believes It

Posted on by Caleb Newquist

Confidential to BA: Everyone is sick of the defense contractor who cried “the jumbo jet is ready!”

Boeing Co is confident it can deliver the first 787 Dreamliner in the middle of the first quarter of 2011, the chief financial officer of the world’s largest aerospace and defense company said on Tuesday.

Speaking at a conference hosted by Morgan Stanley, James Bell reiterated the updated delivery target for the long-delayed carbon-composite commercial aircraft.

Last week, the company announced another Dreamliner delay — this one related to a a delay in the availability of a Rolls-Royce Plc(RR.L) engine needed for the final phases of flight testing. The plane is already more than two years behind schedule.

Boeing CFO repeats 787 deliver target [Reuters]

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Confidential to Sir David Tweedie: Mary Schapiro Isn’t Hearing Encouraging Words on IFRS

Speaking at The Wall Street Journal’s annual CFO Network meeting in Washington D.C., Schapiro readily admitted that there isn’t a big push from either multinationals or shareholders to move to international financial reporting standards.

In response to a question from Bank of America’s CFO, Chuck Noski, Schapiro said, “We have not heard from a lot of shareholders that we have to go (to IFRS). We’ve heard the contrary… ‘Why would we take this step toward international accounting standards?’” [CFOJ]

Marc Jacobs Says Former CFO Was Fired Because He Was Cooking the Books Not Because He Complained About a Pole Dance, All the Porn Floating Around

Marc Jacobs International claims that its former COO and CFO, Patrice Lataillade, got a little fancy with the company’s numbers in order to give himself “hundreds of thousands of dollars” in bonuses. The Post reports that court documents state that audits revealed “false and inflated entries” for about $20 million or so. The company says Lataillade was fired from his job for all this financial hocus pocus,

This all came out because Lataillade sued the company alleging that he was fired for entirely different reason altogether. Apparently MJI co-founder and President Robert Duffy likes to have a little fun around the office that wasn’t appreciated by everyone, namely Mr. Lataillade.

“Examples of Duffy’s conduct which created a hostile work environment include his displaying gay pornography in the office and requiring employees to look at it; his production and dissemination of a book which includes photos of MJI staff in sexual positions or nude; his requirement that an MJI store employee perform a pole dance for him,” the suit said.

Accounting/finance types can be get a little stuffy, that’s a given but seeing co-workers in various compromising positions and/or working a pole at the boss’s behest could make for some awkward looks/conversations later. Not that it excuses running through some bullshit journal entries for your own personal financial benefit but I suppose there may be a legitimate beef in there.

Marc Jacobs COO fired for ‘cooking books’ not harassment: court filings [NYP]

Ex-BofA CFO Would Appreciate It if Andrew Cuomo Got His Name Right

Andrew Cuomo must be feeling pretty good about his chances at becoming Governor of New York, even with some new competition entering the race.

However, we came across a little mistake that could worry voters that Drew doesn’t really pay attention to the little things that matter. Like people’s names.


You’d think that if Cuomo was going to traipse all over town throwing allegations at people, he’d at least know what those people’s names are.

Case in point, the first line of the response from former CFO (and current consumer banking CEO) Joe Price had to go to the trouble of pointing out that his name is not, in fact, “Joseph,” it is “Joe.”

Talk about a low blow, Cuomo. You think you can run Albany and just get people’s names wrong? They’ve threatened to shut down the whole government for less than that.

Hey, Cuomo, The Name’s Joe, Not Joseph [Charlotte Business Journal]