ARA's Fred Sutherland: architect of $1 billion financing

Article Abstract:

Cashflow magazine Treasurer of the Year is L. Frederick Sutherland of ARA Services Inc (Philadelphia, PA). Sutherland's 19-person treasury operation runs at a brisk pace, reflecting in part the fact that ARA is a diversified, global service management firm with 40 business lines, 2,000 depository accounts, and over $4 billion in revenues. Sutherland describes a 1984 management-led leveraged buyout that was effected to hold the company together as his most intense and exhilarating business experience. In the end, management took ARA private with $1.2 billion of borrowed funds and by paying stockholders $71.75 per share for shares that had been selling shortly prior to that for around $50.

Management, Achievements and awards, ARA Services Inc., Cashflow (Periodical), Palamara, Francis J., Sutherland, L. Frederick .

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Good image opens doors to treasury advancement

Article Abstract:

Cash managers have a better chance to become a CFO than credit managers or risk managers because of their cash flow awareness, knowledge of how to borrow, and good outside contacts. The cash manager's challenge is to deepen experience in treasury management; learning about long-term investment and borrowing, capital structure, investor relations, international deals, risk management, and capital markets. The experiences of cash managers at several companies are described, including: Raymark Industries, EF Hutton, and Contel Corp.

Methods, Analysis, Practice, Chief financial officers, Career development, Cash management

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What 'Black Monday' cost pension funds

Article Abstract:

The stock exchange crash of Oct 1987 wiped out most pension funds' 1987 gains, but basically they are no worse off than they were at the beginning of the year. The pension plans had been overfunded by about $300 billion in January but ended up still overfunded by about $200 billion by the end of October. Most pension plans did not speculate at the time. The corporate treasurer will likely now have more to say in the management of pension funds.

Finance, Compensation and benefits, Pension funds, Stock Market Crash, 1987

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