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Just as your pulse is checked during a routine physical, free cash flow is used as an indicator of a company's health. It equals the cash brought in from operations minus the money needed to pay the bills. Think about leftover money in your checking account after you pay this month's bills.
Investors and analysts see this leftover money as a gauge of a company's ability to perform. It is available for transactions such as handing out dividends and working on new products.
Some argue free cash flow is wrongly overshadowed by the emphasis often placed on earnings. Earnings numbers can be manipulated and don't always tell the whole story -- and earnings don't mean much if there's nothing left over after a company pays its expenses. Even if you bring in a six-figure salary, but no money left after paying the bills, are you in great financial shape?
You don't have to be Einstein to figure out free cash flow. To calculate the number, subtract the company's expenditures and dividends from its operating cash flow.
If the free cash flow is written in red ink, it doesn't necessarily signal curtains. This is common for young companies looking to grow. It also could be a result of heavy investments, which in the long run could be worth a standing ovation.
Home / Markets / Industries / Finance
Thursday, May 15, 2008
CBIZ Appoints Independent Director Benaree Wiley
Comtex
CLEVELAND, May 15, 2008 /PRNewswire-FirstCall via COMTEX News Network/ ----CBIZ, Inc. (NYSE: CBZ) today announced that it has appointed Ms. Benaree (Bennie) Pratt Wiley as a director of the Company. The appointment of Ms. Wiley, 62, brings the total number of directors on CBIZ's Board to nine, eight of whom are independent directors.
Ms. Wiley is a Principal of The Wiley Group, a firm specializing in personnel strategy, talent management, and leadership development primarily for global insurance and consulting firms. Ms. Wiley served as the President and Chief Executive Officer of The Partnership, Inc., a talent management organization for multicultural professionals in the greater Boston region for fifteen years before retiring in 2005.
Ms. Wiley is currently a director on the boards of the Dreyfus/Laurel Funds, Dreyfus Cash Management Funds, Blue Cross and Blue Shield of Massachusetts and PepsiCo African American Advisory Board. Her civic activities include serving on the boards of The Boston Foundation and the Efficacy Institute.
Ms. Wiley is a graduate of Howard University and received her MBA at Harvard University. She and her husband have two children and reside in Brookline, Massachusetts.
Steve Gerard, CBIZ Chairman and CEO stated, "We are so pleased that Bennie has agreed to join our Board of Directors. Her successful career in the areas of talent management, leadership development and diversity planning will add important experience and insight to our already outstanding board. As a professional services company, our most important asset is our associates and I look forward to her contribution as we continue to grow our business."
CBIZ, Inc. provides professional business services that help clients better manage their finances, employees and technology. As the largest benefits specialist, one of the largest accounting, valuation and medical practice management companies in the United States, CBIZ provides its clients with financial services which include accounting and tax, internal audit, merger and acquisition advisory, and valuation. Employee services include group benefits, property and casualty insurance, payroll, HR consulting and wealth management. CBIZ also provides information technology, hardware and software solutions, healthcare consulting and medical practice management. These services are provided throughout a network of more than 140 Company offices in 34 states.
SOURCE CBIZ, Inc.
http://www.cbiz.com
Copyright (C) 2008 PR Newswire. All rights reserved
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