Nevada Grows – More Than Sagebrush
Nevada Grows, a fundraising dinner featuring agricultural products grown in Nevada, was held at the governor’s mansion in Carson City this fall. It raised more than $15,000 for the UNR College of Agriculture, Biotechnology and Natural Resources scholarship endowment. The following companies contributed to the menu:
|Churchill Butte Horticulture||Dayton||Fresh thyme, basil, rosemary, fennel seed, mint|
|Home Grown Nevada||Wellington||Flowers|
|Joy’s Honey Ranch||Reno||Honey|
|Lattin Farms||Fallon||Hearts O’Gold cantaloupes, zucchini, cucumbers, tomatoes|
|Nutri Gardens||Pahrump||Fresh basil|
|Oasis Farmstead Dairy||Fallon||Goat cheese, feta|
|Peri and Sons||Yerington||Onions|
|Smith Farms||Fallon||Shitake mushrooms|
|Smith and Smith Farms||Dayton||Salad greens, eggplants, red onions, leeks, spinach, flowers|
|Snyder Livestock Company||Yerington||Garlic|
|Tahoe Ridge Winery||Minden||Rubicon Point and Chardonnay wines|
|Villa Basque Deli||Carson City||Chorizo|
BROWN BAGGING IT
Financial Executives Work Through Lunch
They say there’s no such thing as a free lunch. For financial executives, there’s often no lunch at all. In a recent survey, chief financial officers (CFOs) said that, on average, they work through the noon hour a minimum of three days a week. The survey, developed by Robert Half Management Resources, included responses from 1,400 CFOs from a random sample of U.S. companies with more than 20 employees.
CFOs were asked, “On average, how many days a week do you work through lunch?” The mean response was three.
“Working through lunch is increasingly common for executives faced with greater responsibilities that must be managed with fewer resources,” said Paul McDonald, executive director of Robert Half Management Resources. “But too many hours spent without a break can take its toll on job performance.”
McDonald points out several business advantages of taking a midday time-out:
Business development – In a 2000 survey, nearly half of CFOs polled said their most successful business meeting outside the office was conducted over a meal.
Networking – Touching base with peers should not be limited to after-work events or conferences. Schedule time for lunch appointments with colleagues and others in your industry to share ideas and best practices.
Workplace productivity – While it’s common to skip lunch during crunch times, making it a regular habit can decrease productivity over the long term.
A new attitude – A change of scenery can spur new ideas and give you a fresh perspective on current business challenges.
Fraud By the Numbers
The following statistics regarding fraud and white-collar crime come from The Association of Certified Fraud Examiners.
It is estimated that 6 percent of 2002 revenues were lost as a result of occupational fraud and abuse. Applied to the U.S. gross domestic product, this translates to losses of approximately $600 billion, or about $4,500 per employee.
Organizations with fraud hotlines cut their fraud losses by approximately 50 percent per scheme. Internal audits, external audits and background checks also significantly reduce fraud losses.
Small businesses are the most vulnerable to occupational fraud and abuse. The average scheme in a small business causes $127,500 in losses. The average scheme in the largest companies costs $97,000.
The most common method for detecting occupational fraud is through tips from employees, customers, vendors and anonymous sources. The second most common method of discovery is by accident.
The typical occupational fraud perpetrator is a first-time offender. Only 7 percent of perpetrators in this study were known to have prior convictions for fraud-related offenses.
All occupational frauds fall into one of three categories: asset misappropriations, corruption, or fraudulent statements.
Over 80 percent of occupational frauds involve asset misappropriations. Cash is the targeted asset 90 percent of the time.
Corruption schemes account for 13 percent of all occupational frauds and they cause over $500,000 in losses, on average.
Fraudulent statements are the most costly form of occupational fraud, with median losses of $4.25 million per scheme.
Frauds committed by employees cause median losses of $60,000, while frauds committed by managers or executives cause median losses of $250,000. When managers and employees conspire in a fraud scheme, median losses rises to $500,000.
Losses caused by perpetrators older than 60 are 27 times higher than losses caused by employees 25 and younger.
The average fraud scheme lasted 18 months before it was detected.