CHICAGO, December 20, 2012—The Grant Thornton LLP Partnership Board elected Dave Wedding as chairman of the board earlier this week.
CHICAGO, December 12, 2012—Nearly 70 percent of chief financial officers of US companies believe the US economy will either improve or remain stable during the next six months, according to the 2012 Fall CFO Survey from Grant Thornton LLP. The survey findings reveal that 39 percent of respondents believe the state of the US economy will remain the same in the first half of 2013, while 30 percent believe it will improve. Of those surveyed, 31 percent said it will worsen, which is an increase of ten percentage points from the firm’s 2012 Summer CFO Survey findings.
Grant Thornton LLP announced the appointment of James A. Peko as the new national managing principal of the Corporate Advisory & Restructuring Services practice.
Private equity firms in the United States are facing increased competition from foreign and international firms for investment opportunities within the U.S. market, according to the 2012 Global Private Equity Report by Grant Thornton International. Now in its second year, the report is the result of 143 in-depth interviews with senior private equity practitioners around the globe. It provides insight into private equity general partners’ expectations for numerous aspects of the fundraising and investment cycle during the next 12-36 months.
Grant Thornton LLP announced that effective January 1, 2013, Dave Wedding, 54, will become the office managing partner of its Carolinas practice. The Carolinas practice includes offices in Charlotte and Raleigh, N.C. and Columbia, S.C.
There’s still plenty of time left in 2012 for tax planning according to Grant Thornton LLP.
Grant Thornton LLP announced that Michael Patanella, 37, will assume responsibility as leader of the firm’s National Asset Management Sector.
Grant Thornton LLP has selected AppealTrack as its national property tax appeals software platform.
U.S. businesses are facing a crisis of confidence in the country’s economy during the next year, with optimism falling to 19 percent in the third quarter compared to 50 percent the second quarter of this year, according to the latest Grant Thornton International Business Report (IBR). The report features information from interviews with 3,500 private and public companies around the world.
Grant Thornton LLP, the U.S. member firm of Grant Thornton International Limited, announced record revenue for its recently concluded fiscal year. In the firm’s 2012 fiscal year, which concluded on July 31, Grant Thornton generated $1.212 billion in revenue, up 9.3 percent year-over-year.
The United States is the 10th best country in the world for dynamic growing businesses according to the Grant Thornton Global Dynamism Index. The United States sits ahead of France, China and Japan, and trails South Korea and Germany by a narrow margin and is ranked eighth in the area of financing environment.
Daniel Galante, 45, has joined Grant Thornton LLP as the National Managing Partner of the firm’s Transaction Advisory Service practice. He takes over from Steve Brady, who will continue as a Transaction Advisory Services partner. Galante will be based in Chicago.
Fifty-four percent of CFOs in the U.S. do not foresee any changes in the health of the economy during the next six months, according to a survey by Grant Thornton LLP. Still, most CFOs surveyed are optimistic about maintaining (45 percent) or increasing (37 percent) their headcount over the next six months.
Working Mother today named Grant Thornton LLP as one of the 2012 Working Mother 100 Best Companies. The companies are recognized in the October/November issue of the magazine, on workingmother.com and will be honored at the Work Life Congress, to be held here on October 8th.
Grant Thornton LLP announced that Randy Robason will assume responsibility of the firm’s International Tax practice. Robason will continue to manage Grant Thornton’s Tax Accounting and Risk Advisory Services practice.
Robert James Jr., after 38 years in the banking industry, has joined Grant Thornton LLP’s national financial services practice as a Banking industry senior advisor based in the firm’s Charlotte, N.C., office. James is the former president and CEO of Fifth Third Bank, North Carolina, where he led the bank’s entry into the North Carolina market.
Less than one third (27.5 percent) of bankers believe their local economy will improve in the next six months, according to Grant Thornton LLP’s annual Bank Executive Survey, conducted in conjunction with Bank Director. The results, available at BankDirector.com, reflect a steep drop from the 44 percent of bankers who expected improvement in 2011. Also worrisome is that the number of bankers expecting their local economies to get worse more than doubled from 6 percent last year to 13 percent today.
Grant Thornton LLP has been selected as one of five secondary professional firms to aid the Office of Mortgage Settlement Oversight in the national mortgage settlement. Grant Thornton will assist with overseeing the $25 billion settlement that involves five of the nation’s largest banks as well as the U.S. government and spans 49 states.
Grant Thornton LLP admitted 27 new partners and principals to the firm, effective August 1. These partners and principals are based throughout the firm’s offices across the country. In addition, the firm has promoted 34 professionals to managing director.
Effective August 1, 2012, Jacqueline Akerblom, will lead Grant Thornton’s Southern California practice as the Office Managing Partner. She will oversee the growth and operations of the Los Angeles, Irvine and San Diego offices.
The Association of Government Accountants (AGA) and Grant Thornton LLP today release the 17th annual survey of federal Chief Financial Officers (CFO). The survey discusses how CFOs use cost-cutting, performance management, and the drivers of high-performing organizations to help their agencies through today’s financial storms while continuing to produce results for the American public.
Wrapping up one of the most complicated healthcare bankruptcy cases in the United States, the U.S. Bankruptcy Court for the Southern District of New York confirmed the Chapter 11 plan of Saint Vincent Catholic Medical Centers of New York and various of its affiliates (Saint Vincent’s) today.
Grant Thornton named Srikant Sastry, 48, as the firm’s new Global Public Sector managing principal, effective Aug. 1. Grant Thornton’s Global Public Sector (GPS) practice is a global management consulting business with the mission of providing responsive and innovative financial, performance management and systems solutions to governments and international organizations. Sastry is assuming the role from Hank Steininger, who is retiring from the firm after 18 years of distinguished service.
Kevin Hudson has joined Grant Thornton as the firm’s National Private Equity Services Managing Director. In this role, Hudson will develop and implement a comprehensive growth strategy focused on working with private equity firms and their associated portfolio companies.
Seventy-four percent of financial executives received an increase in their salary in the last year, compared to 66 percent in 2011 and 43 percent in 2010, according to the findings of an annual survey issued today by Grant Thornton and Financial Executives Research Foundation (FERF). While the estimated average salary increase was 4 percent, versus the 3 percent last year, public companies were awarded a slightly higher increase than private companies.
Grant Thornton named Steve Perkins, 58, as the firm’s new Technology Industry Practice (TIP) National Managing Director effective immediately. Grant Thornton’s technology practice encompasses the software, telecom, life sciences and clean tech sectors.
Ed Novak has joined Grant Thornton as the firm’s Head of National Sales. In this role, he will be responsible for developing Grant Thornton’s business development team and generating additional revenue to the firm from new and existing accounts.
Grant Thornton named Doreen Lilly Griffith, 43, as the firm’s new National Managing Partner of Tax Services effective August 1, 2012.
Chief Audit Executives (CAEs) ranked cybersecurity as their #1 concern in emerging risks, according to a new survey by Grant Thornton LLP. Mobile technology was their second biggest concern, followed by business interruption and social media. While more than half (56%) of CAEs report that their organization had 10 or less cybersecurity incidents in the last 12 months, nearly a third (31%) said that they did not know how many incidents their company had.
In a new paper on lease accounting, Are all leases created equal?, Grant Thornton discusses the FASB’s and IASB’s current thinking on lease accounting. The Boards have tentatively decided on a single model for lessors (the receivable and residual model). Grant Thornton makes a case for the use of two models based on whether the lessor is managing financial assets or operating assets, and what types of risks are inherent in the lessor’s business model.
Uncertainty over natural gas and crude oil prices won’t affect expansion plans
HOUSTON, March 5, 2012 – Price volatility in natural gas and crude oil markets is energy executives’ top concern and compliance with new industry regulations looms, but industry leaders are generally confident in the coming year’s prospects, according to Grant Thornton LLP’s 10th Survey of Upstream U.S. Energy Companies.
During the last year, revenue from government contracts grew for 50% of contractors, while 21% experienced no significant change and 29% experienced reductions in revenue, according to Grant Thornton LLP’s 17th Annual Government Contractor Industry Survey.
Grant Thornton is sharing what’s new, what you can do to affect your 2011 return, how to avoid filing season hassles and how to plan for 2012. There are important changes for both individuals and businesses in the 2011 and 2012 tax years, but that’s not a reason to panic.
ALEXANDRIA, February 7, 2012 Grant Thornton LLP named retired Vice Adm. Lewis (Lou) W. Crenshaw Jr. as National Aerospace and Defense practice leader.
CHICAGO, February 1, 2012 — Grant Thornton LLP partners and principals elected Charlotte-based Dave Wedding, Economic Advisory Services partner and Southeast region Advisory Services leader, and Jon Wolkenstein, Dallas Audit partner, to the Partnership Board at its November Annual Partners Meeting.
CHICAGO, January 30, 2012 - The Alliance of Merger & Acquisition Advisors (R) (AM&AA), the leading association and credentialing body for middle market M&A professionals in partnership with Grant Thornton LLP, one of the six global audit, tax and advisory organizations have announced Rob Slee and Dr. John Paglia as winners of the third annual middle market “Thought Leader of the Year Award.” Winners were announced during the AM&AA Winter Conference in Las Vegas.
Grant Thornton LLP applauds President Obama for recognizing the importance of access to capital to start-ups and small business during his State of the Union Address last night. The Small Company Capital Formation Act, introduced by Rep. David Schweikert (R-AZ), was overwhelmingly passed by the House on November 2, 2011, by a vote of 421 to 1. Grant Thornton now encourages the Senate to act on the companion bipartisan legislation introduced by Sen. Jon Tester (D-MT) and Sen. Pat Toomey (R-PA). Combined, this legislation will help to resurrect our IPO markets, which once made the U.S. stock markets the envy of markets throughout the world.
Grant Thornton LLP announced that Dexter Manning, Partner, Audit Services and National Food and Beverage Practice Leader will address profitability and growth opportunities and challenges in the competitive, low-margin food manufacturing industry at the Food Manufacturing & Safety Forum 2012 on Jan. 25 in Dallas.
Two independent surveys commissioned by Grant Thornton revealed that executives have growing confidence in the economic outlook for U.S. businesses despite the protracted crisis in Europe and emerging concerns from China.
Business leaders in the United States have a growing confidence in the economy, according to the most recent quarterly Business Optimism Index from Grant Thornton LLP. One-third (33%) believe the domestic economy will improve in the next six months, compared with just 18% in the third quarter of 2011. The Index itself rose 11.8 points to 57.9, reflecting increased optimism around key economic measures: the U.S. economy, business growth and hiring expectations.