CFO THOUGHT LEADER
CFO THOUGHT LEADER
Oct 25, 2020
645: The Investor Came Knocking | Glenn Schiffman, CFO, IAC/InterActive
31 min

There’s little question that 2020 will long be remembered as a year of crisis for the casino industry.

Commercial gaming revenues in the U.S. were down 79 percent during the second quarter when compared to Q2 2019, a fact that made IAC/Interactive’s August announcement that it was purchasing 12 percent of hospitality and gambling giant MGM all the more headline-grabbing.

“We think we found a once-in-a-decade opportunity to find a meaningful position in an iconic brand,” explains IAC/InterActive CFO Glenn Schiffman, who says IAC’s balance sheet remains flush with cash (more than $3 billion) after the recent spinoff of online dating site Match.com.

“We believe that Las Vegas will come roaring back, and this comes back to how IAC likes to invest: We like massive addressable markets with tailwinds from offline to online, and that’s what we see with gaming,” says Schiffman, who is no stranger to industries in crisis.

Back in September of 2008, Schiffman was head of investment banking for Lehman Brothers’ Asia-Pacific business when the firm filed for bankruptcy due to its part in the subprime mortgage crash.

Schiffman, along with other top Lehman partners, helped to manage the sale of Lehman’s Asian business to Nomura Securities.

“In times of crisis, you have to separate the urgent from the important because in a crisis everything appears urgent but not everything is important,” explains Schiffman, who says that he learned just how important being able to separate the two was when the clock was ticking in the wake of the Lehman bankruptcy and his team was seeking a resolution that would best serve Lehman’s Asia workforce. (Episode 440)

“We saved every single job in Asia—and that was 3,000 jobs, including my own,” comments Schiffman, who adds that the Lehman bankruptcy, among other things, revealed how during a time of crisis an individual’s character becomes more evident.

“Crisis doesn’t define character, crisis reveals character,” says Schiffman, who, after joining Nomura, went on to help establish and build the bank’s North American investment banking division. –Jack Sweeney 

McKinsey Recruiting
McKinsey Recruiting
McKinsey & Company Recruiting
Jop on Environmental Sustainability
How does McKinsey foster an environmentally conscious workplace? What does a typical day as the director of environmental sustainability at McKinsey look like? Why is the topic of sustainability such a high priority for our clients? Tune in and find out answers to these questions and more in our latest McKinsey Recruiting Podcast episode with Jop Weterings, McKinsey‘s director of environmental sustainability. Jop, who is based in our Amsterdam office, works with clients in the energy and materials sector. He believes that if each individual thinks about how to include sustainability in their everyday decisions at work, it would be a game changer. # Before joining McKinsey, Jop earned an MBA from Columbia Business School in New York # Jop is passionate about staying active and loves to hike, cycle and play water polo # Prior to pursuing a degree in business administration, he contemplated studying forestry # Jop shares how he has been able to integrate his personal passion for the environment into a sustainable career # Jop provides valuable insights into the work of McKinsey’s Green Teams and how small changes in our behavior can have an incredible impact # He explains how COVID-19 has impacted the way we live, work and think # In our ‘Ask Me Anything’ section, Jop answers questions from individuals who are considering a career at McKinsey For more information on our podcast, visit: http://mckinsey.com/recruitingpodcast Read more >    Listen to the podcast (duration: 36:16) >
36 min
PwC's accounting podcast
PwC's accounting podcast
PwC
What’s next in tech for finance? Investing in the cloud
Technology continues to reshape our world and has been accelerated by the pandemic. As you rethink processes for the new environment, you may be asking how technology can help improve efficiency and effectiveness. This podcast is the next episode in the second season of our What’s next? podcast series for CFOs, controllers — anyone in finance. This season we’re focusing on what’s next in tech for the finance professional — discussing the benefits of technology through the lens of the finance function. In this episode, host Heather Horn sits down with Paul Gaynor, leader of PwC’s Technology Consulting and Alliances businesses, and Scott Behrens, a PwC partner and information technology leader, to better understand the ways cloud-based business solutions are modernizing the workday.  Topics include: * *1:00 - How businesses are using cloud technology. *Whether it’s better analytics and the presentation of data, or having the ability to quickly develop new applications, we begin with an overview of how the cloud is transforming the way businesses run. * *4:25 - Solving today’s problems. *Every functional area within the business can leverage cloud capabilities to drive transformation and growth. We discuss how cloud technologies have evolved from being just a cost-saving play.        * *11:49 - Adopting a new way of working. *As businesses move into the cloud, it’s important to manage this new investment. We discuss the  behaviors and procedures organizations should have in place.    * *28:55 - The future of cloud technology.* Cloud technology has given organizations the opportunity to rethink how to run their business—and that’s exciting. We close with a look at how the cloud will drive new products, business models, and a digitally-enabled workforce. Paul Gaynor is the Global Technology and Alliance Consulting Leader with responsibility for setting PwC’s network Technology and Alliance Consulting vision and strategy. Previously, Paul led the US Technology Sector and Management Consulting capabilities for Technology, Information Communication and Entertainment, and Consumer, Industrial Products sectors. In addition, Paul served as the Global Relationship Partner for several Technology clients, and was team member in building PwC’s working capital and revenue assurance businesses. Scott Behrens is a PwC partner with Strategy& and its Information Technology leader. With proven credentials in technology strategy and the alignment of IT strategies with associated business goals, Scott has extensive experience improving business performance through the design of new strategies and the creation of new capabilities and assets that support sustained value. Scott has significant experience in the analysis of process and technology architectures and in the quantification and direct capture of business benefits for the continued success of an organization. Heather Horn is PwC’s National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 25 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.
32 min
Supply Chain Now
Supply Chain Now
Supply Chain Now
POV from the Manufacturing C-Suite: Allison Krache Giddens with Win-Tech, Inc.
This episode of Supply Chain Now features Allison Krache Giddens. Allison has been with Win-Tech, a veteran-owned small business and aerospace precision machine shop, for 14 years, recently buying the company from her mentor and Win-Tech’s Founder, Dennis Winslow. She and her business partner, John Hudson now serve as Co-Presidents, leading the 32-year old company through the pandemic. She holds undergraduate degrees in psychology and criminal justice from the University of Georgia, a Masters in Conflict Management from Kennesaw State University, a Masters in Manufacturing from Georgia Institute of Technology, and a Certificate of Finance from the University of Georgia. She also holds certificates in Google Analytics, event planning, and Cybersecurity Risk Management from Harvard online. Allison founded the Georgia Chapter of Women in Manufacturing and currently serves as Vice-Chair. She serves on the Chattahoochee Technical College Foundation Board as its Secretary, the liveSAFE Resources Board of Directors as Resource Development Co-Chair, and on the Leadership Cobb Alumni Association Board as Membership Chair and is also a member of Cobb Executive Women. She is on the Board for the Cobb Chamber of Commerce’s Northwest Area Councils. Allison runs The Dave Krache Foundation, a non-profit that helps pay sports fees for local kids in need. Upcoming Events & Resources Mentioned in this Episode: Subscribe to Supply Chain Now and ALL Supply Chain Now Programming Here: https://supplychainnowradio.com/subscribe Leave a review for Supply Chain Now: https://ratethispodcast.com/supplychainnow Connect with Scott on LinkedIn: www.linkedin.com/in/scottwindonluton/ Connect with Greg on LinkedIn: www.linkedin.com/in/gswhite/ Connect with Allison on LinkedIn: https://www.linkedin.com/in/allisongiddens/ Supply Chain Now Ranked #3 Supply Chain YouTube Channel: https://tinyurl.com/yazfegov Download the Q3 2020 U.S. Bank Freight Payment Index: freight.usbank.com/?es=a229&a=20 Check Out News From Our Sponsors: U.S. Bank: www.usbpayment.com/transportation-solutions Capgemini: www.capgemini.com/us-en/ Vector Global Logistics: vectorgl.com/ Verusen: www.verusen.com/ This episode was hosted by Greg White and Scott Luton. For additional information, please visit our dedicated show page at: https://supplychainnow.com/episode-513.
1 hr 12 min
IT Visionaries
IT Visionaries
Mission
Meeting the Moment: How Christian Nascimento and Comcast Business Delivered When the Stakes were Highest
Never before have product teams been forced to absorb the pain points of their users first-hand like they are today. As companies deploy distributed workforces around the globe, the teams that are tasked with developing and implementing new products are now often utilizing products the same way their consumers are. _“Everybody talks about digital transformation, but the COVID-19 situation rapidly accelerated and expanded that. Now you have businesses like a fitness center or restaurant that have gone like completely digital. All their classes are via zoom and they're doing contactless delivery, ordering and payments. These businesses that maybe never thought of the term digital transformation are now completely digital. And the team that I work with every day is helping enable that — whether it's by deploying wifi platforms or making sure that the broadband network has the right type of bandwidth products. And so it's a really great position to be in, to be able to help people get through all this.”_ That’s Christian Nascimento, the Vice President of Product Management and Strategy for Comcast Business. Christian joined _IT Visionaries _to discuss how Comcast was able to adjust its infrastructure to account for the mass influx of employees working from home, and he gives some insight into the products they’ve developed during the COVID-19 pandemic to ease the employee experience. Plus, he lets us know why the silver lining to times like these is the ability to gather high-value feedback. Main Takeaways * Meeting A Demand: The ability to scale and meet the growing needs of your customers has never been more important than it is today. When Comcast Business was met with an influx of customers working from home, the company had to make sure that its infrastructure could not only meet the demand of new customers, but also manage the large influx of traffic. * Can you Validate This?: When you are developing products and services, make sure the products you’re producing satisfy a need and not just a want. Before you start producing something, gather feedback from your users to make sure that it’s solving a problem for them. * Office Space: Distributed workforces now mean workers are no longer forced to work within the confines of an office building. One of the things that has made remote work more readily available is the development of cloud-based applications. --- IT Visionaries is brought to you by the Salesforce Platform - the #1 cloud platform for digital transformation of every experience. Build connected experiences, empower every employee, and deliver continuous innovation - with the customer at the center of everything you do. Learn more at salesforce.com/platform
40 min
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