FEI Weekly

September 29, 2020

When flexible hours aren't enough to prevent burnout.

Hertz Announces New CFO Pick

Market Watch

Kenny Cheung will be taking over as CFO at Hertz. The car-rental company filed for bankruptcy in May, hit by coronavirus-related travel and business restrictions and under the weight of previous debt. Hertz in June floated a plan to sell potentially worthless stock, but later backed off after the proposal drew scrutiny from securities regulators.

It’s Time to Redefine the Accounting Experience

Accounting Today

If the pandemic has a silver lining, it’s that the global accounting world is becoming smaller and borderless. Debits and credits are the same no matter where you are. There’s a new shared language, and it’s technology tools. Cloud accounting is just one tool that is advancing the industry into becoming more collaborative and borderless.

Banks Wait (Impatiently) on Loan Forgiveness

Politico

Banks say the process for converting the government-backed loans into grants has been frustrating because of a lack of communication from the Small Business Administration and the Treasury Department. The confusion is creating potential headwinds for small businesses as they struggle to emerge from a recession.

How to Lose Your Social Security in 4 Ways

Motley Fool

There are many ways to reduce your Social Security checks that you may not be aware of. Here are four that could have the most profound impact: The first, and most obvious is working too few years. Claiming benefits at the wrong time is another way. Third, there are 13 states that tax Social Security benefits, although that will soon be 12. If you live in one of them and are subject to the tax, you'll lose some of your retirement money to your local government. The fourth way is having income above IRS limits.

When Flexible Hours Aren't Enough

HBR

Jamie Coakley, VP of People for Electric, set up a parent forum at the company to open up discussions about how parents are faring during the pandemic. When one employee asked, 'How are you all doing this?' The response from another was, 'We’re not. You’re either a bad parent or a bad employee.' She realized the company's efforts (flex hours, introducing a childcare stipend, and opening the office for anyone who needed it) were not cutting it. Leaders have to get more creative to help prevent burnout.