AFP Blogs

Former CNBC senior analyst and commentator Ron Insana moderated an all star panel of financial and journalistic experts on Tuesday, Oct. 21 discussing the current issues of the day and what is ahead.  It was the main event of the General Session at the AFP Annual Conference in Los Angeles.

Insana was joined by Economist Martin Feldstein who was chief economic adviser to President Ronald Reagan, LBO Specialist Wilbur Ross, Jr., and NPR news analyst and Fox News Channel political analyst Juan Williams.

They dove right into the financial turmoil of this country with comments flying from each participant.

“We are in the midst of a historic time,” said Insana.

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Here are some early photos from Conference:

Here’s the video of Jim Kaitz being interviewed on CNBC this morning:

[youtube]http://www.youtube.com/watch?v=3Xvvh9vxtXg[/youtube]

AFP President and CEO Jim Kaitz announced the results of the latest member survey which reveals that member believe that the government action over the past three weeks have stabilized the credit markets. He appeared on CNBC this morning in Los Angeles to announce the results.  Over 1,000 attendees at the AFP Annual Conference said that various government action, including the U.S. Treasury plan to purchase an equity stake in key financial institutions and guarantee money market funds, along with the Fed’s plan to purchase Commercial Paper, has improved the outlook for credit available.

He said that an overwhelming 97% said they think that the U.S. economy is in a recession; one-third (34%) believe that the recent turmoil in the credit markets precipitated the recession, while nearly two-thirds (63%) believe that the U.S. was already in  a recession prior to September’s events.

He said many companies are still experiencing difficulties. More than one quarter (25%) report that their access to new or additional short-term credit is very limited.

For more information about the survey go to:

http://www.afponline.org/pub/pdf/AN08_On-site_survey.pdf

Here’s some footage I took at Sunday night’s welcome reception:

[youtube]http://www.youtube.com/watch?v=BPj8-lGUQWI[/youtube]

[youtube]http://www.youtube.com/watch?v=3JCuAS6YZRI[/youtube]

[youtube]http://www.youtube.com/watch?v=1nRqD3V7-rk[/youtube]

Earvin “Magic” Johnson at the 2008 AFP Annual Conference

Barney Frank takes questions from the Audience

The AFP Town Hall

Attendees enjoying the General Session

The Chairman of the House Financial Services Committee addresses the 2008 AFP Annual Conference:

[youtube]http://www.youtube.com/watch?v=6EtkLDEwsqU[/youtube]

Loren Star, CFO, INVESCO, introduces the AFP Town Hall:

[youtube]http://www.youtube.com/watch?v=0EcV8chk0zo[/youtube]

Here’s the first question and answer session:

[youtube]http://www.youtube.com/watch?v=lCITG_BD5O0[/youtube]

AFP handed out its annual Pinnacle Awards at the opening General Session yesterday afternoon. 

AFP Pinnacle Awards are presented annually to organizations that have successfully developed dynamic solutions that make treasury and finance more efficient and/or effective. AFP Pinnacle solutions demonstrate treasury as contributing significant value in a broad range of organizations.

This year, entries for the Pinnacle Awards came in from across the country as member organizations vied for recognition in three entry categories: Strategy, Innovation and Risk.

The Grand Prize went to the Risk winner, Belk Inc., of Charlotte, NC, which developed a strategy to manage loses due to operations issues, insurance risk and relationships with vendors.  The Grand Prize award was accepted by Oded Shein, Treasurer and Gary Nesbit, Risk Manager, who together designed the enterprise risk program that mitigated safety issues in a company-wide initiative.

A $10,000 contribution will go to the United Way in Belk’s name as part of the Grand Prize recognition.

Finalists for the award were:

Strategy: PAETEC

PAETEC offers companies personalized business communications solutions including data and voice products. Founded in 1998, it serves customers in more than 80 percent of the nation’s top 100 metropolitan areas. Its “core offerings portfolio” includes data, voice and Internet communications services. Its “value-added solutions portfolio” includes data center solutions, communications management software, equipment and software and equipment financing programs. PAETEC is headquartered in Rochester, NY.

Innovation: Enhanced Investment Technologies, LLC (INTECH)
INTECH, an independently managed subsidiary of Janus capital Group Inc., has managed large-cap equity portfolios since 1987, using “mathematically driven equity investing.” This is an investment process that is based on a mathematical theorem “that attempts to capitalize on the random nature of stock price movements.”

The cameras have been rolling at the AFP Studio on the Exhibit Hall floor since late yesterday afternoon.  Elizabeth Johns interviewed a representative from JP Morgan.  I interviewed the CFO of A&W Restaurants and Long John Silver Restaurants for Yum Brands.

The studio is intimate and the lights match those you see on the cover of the October issue of AFP Exchange.  We have a full day of interviews today including representatives from BlackRock, PNC, the CFO of Bloomington, MN, Bank of America,  Wachovia, HSBC, and Bank of New York Mellon.

Conference attendees can stop by and watch as the interview take place.  They will be made into videos that will appear on the AFP Web site.

The interview with Yum Brands CFO Cheryl Balkenhol yesterday covered strategies in today’s market and issues relating to challenges of women in the C suite and getting there. Balkenhol said there are more female CFOs than before and many women in treasury positions at her company.

Video interview should be posted on the AFP Website in a few months.