CEO Ed Lette has announced the addition of Ivonne Villegas to the Business Bank of Texas team to lead in treasury management and deposit related services. “As more businesses discover the unique value that the bank has to offer, we have seen our customer base grow tremendously,” said Lette recently. “The addition of Ivonne will help us to further improve our quality of service and keep up with the demand.”
November marks the beginning of the holiday season, when gift buying and holiday planning are in full swing. For many businesses, it is a time to celebrate another year of operation, thank employees for their hard work, and express gratitude to clients for their continued business. Cue the company holiday party.
In the past few months several articles have been published to help business owners learn tips on how to prevent fraud.
We know the bad guys are out there and we take this topic seriously. Our CFO, Dwayne Kolly spoke at the annual Controller Conference hosted by the Texas Society of CPAs on this topic.
Like so many Americans, I spent Labor Day laboring. This began with a quick trip to Home Depot to pick up supplies. I found my five items, swiped my credit card and was out the door. The next day we learned that Home Depot’s data systems had been breached, compromising sensitive information about its customers.
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It’s rare to find a company firing on all cylinders that doesn’t have a well-oiled financial machine. This mechanism supports and strengthens leadership teams. A seasoned CFO will use this financial function to provide value in a unique and memorable way. By unique and memorable, I mean the CFO has these core objectives front and center each month:
What is your human capital worth?
As a business owner, you understand that you need working capital to keep your business going: operating expenses, inventory, salaries, etc. But who in your business handles the growth and success? In other words, what is your Human Capital worth, and did you know it could affect your bottom line?
The headline is eye-popping—a $16.65 billion penalty assessed against Bank of America. The Justice Department said it was the largest settlement with a single entity in American history. To those unfamiliar with the situation, one should conclude that Bank of America committed seriously heinous crimes.
Since the Federal Reserve Bank effectively lowered short term interest rates to near zero in the wake of the Great Financial Crisis, savers have been feeling the pain. The yield on risk-free investments in treasury securities and federally insured deposits has fallen below the rate of inflation, and many savers have given up and parked their money in money market and savings accounts where the annual earnings may not cover the price of a good lunch.