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It Appears That Albany International Fired Their CFO Because They Felt Like It

Posted on by Caleb Newquist

Michael Burke need not worry. David Paterson will be unemployed soon enough.

Albany International (NYSE: AIN) announced on Sept. 23 that it terminated CFO Michael Burke without cause. Burke was also senior vice president at the manufacturing company headquartered in Menands, New York.

Albany International’s board of directors tapped John Cozzolino to serve as acting CFO. Cozzolino is a vice president overseeing strategic planning.

The moves are effective immediately. Albany International would not say why Burke was fired.

“There were absolutely no ethical, legal, accounting or personal issues involved,” said Susan Siegel, a company spokeswoman.

Just a board of directors channeling a little bit of Steinbrenner.

Albany Int’l Corp. CFO terminated [The Business Review]

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Broadway Production of Enron Has Its CFO

As we anticipate the greatest thing to happen to Broadway since George Bush’s penis, we now know who will play the most important role of the entire production: numbers magician Andy Fastow.

The honor goes to Stephen Kunken, best know for his role as James Reston in Frost/Nixon. He will be alongside Norbert Leo Butz who will be playing Jeff Skilling.

We located the list of the cast for the London production of Enron and there is a role for “Arthur Andersen” and two for “Lehman Brothers” so these key roles still need to be filled.

Back to the future Tony winner; we don’t envy the research that Kunken has ahead of him since we’re assuming that he’ll have to channel the book cooking prowess of AF. Then again, since he’s an actor, he only has to pretend to know what he’s talking about with regard to accounting and financial reporting; there’s accountants out there doing that every day.

Kunken Will Play Enron CFO on Broadway [Playbill]

New Robert Half Survey Reveals CFOs Will Need You to Go Ahead and Come in on Saturday

We’re not very good at math or statistics so perhaps our numbers are off a bit, but how do 89% of CFOs expect their firms to grow in the second quarter of 2011 while 85% also do not expect to add any new full-time accounting and finance professionals? It doesn’t take a mathlete to figure out what that means for those of you lucky enough to work for these CFOs, so you better get to slacking off now before they come down to your cube and kindly inform you you’ll need to go ahead and come in on Saturday.

Robert Half interviewed 1400 CFOs across the country for their Robert Half Financial Hiring Index and here’s what they came up with:

Most (85 percent) chief financial officers (CFOs) interviewed for the Robert Half Financial Hiring Index said they expect to make no changes to their current staffing levels during the second quarter of 2011. Seven percent anticipate adding full-time accounting and finance professionals, while another 7 percent plan personnel reductions. The net 0 percent projection is down two points from the first-quarter 2011 forecast.

As businesses navigate the current economy, they remain optimistic about the outlook for their own companies. Eighty-nine percent of CFOs expressed confidence in their firms’ growth potential in the second quarter, up one point from the first-quarter survey.

Looking to relocate? Try the Pacific or Mid-Atlantic regions. Twelve percent of CFOs plan to add full-time accounting and finance professionals and 5 percent foresee cutbacks, a net 7 percent increase.

“Many Pacific-region companies, particularly those in the manufacturing and technology sectors, are rebuilding their teams to meet renewed demand for their products and services,” said Max Messmer, chairman and CEO of Robert Half International. “In particular, firms are looking for skilled financial analysts to help them control costs and prepare for potential growth.”

In the end, a net 0 hiring projection is a lot better than previous recent surveys which were in the negative however we’d be remiss if we did not point out that the last time the survey showed a net 0 projection was for 3rd quarter 2008. And we all know how that particular period of time went.

What does this mean? New grads who are still waiting around for jobs can keep waiting, and more seasoned professionals who have been out of work for quite some time should probably just give up. Thanks for the great news, RH!