SABBATIS GETS NEW CCH POST Mike Sabbatis, a CCH executive, has been promoted to the newly created position of president, CCH tax and accounting, U.S.
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Sabbatis and the presidents of CCH Asia/Pacific, CCH Canada, and CCH Small Firm Services, report to Kevin Robert, CEO of Wolters Kluwer Tax and Accounting. Robert will focus on its overall performance, the four operating units and the execution of Wolters Kluwer's strategic plan in tax and accounting markets globally.
CERIDIAN PICKS VP
Ceridian has named Michael Shea, who was most recently senior VP of operations for GE Commercial Finance Fleet Services, as executive VP of quality and service operations.
Shea will report to president and CEO Kathryn V. Marinello.
MORNINGSTAR INTROS INDEXES
Morningstar is readying the launch of a family of fixed income indexes that it says has a focus on transparency and investability.
The Morningstar Fixed Income Indexes can be licensed to institutions to create investment vehicles, such as mutual funds, exchange-traded funds and derivative securities. The introduction was expected this quarter with initial indexes covering U.S. Treasury and corporate bonds.
NAVIPLAN HAS VISTA ISSUES
Emerging Information Systems, which owns the NaviPlan and Profiles financial planning applications, warned its customers that the version of NaviPlan on the market in January would not function in the Windows Vista environment.
The company said that the difficulty affected U.S. and Canadian versions of all NaviPlan Standard and Extended formats, labeling the severity of the problem as major. The company warned users to use NaviPlan until they have installed a NaviPlan patch.
THOMSON BUYS DELOITTE OUTSOURCING.
Thomson Tax & Accounting has acquired the Deloitte Tax Sales & Use Outsourcing business, which will be combined with the Thomas Tax Partners Service to provide a broad range of sales and use tax applications.
Thomson, which said it would retain all of Deloitte's employees in the United States, reported that more than 100 corporate customers use the service.
INTUIT NAMES CTO
Intuit has named Per-Kristian Halvorsen as its senior vice president and chief technology officer, replacing Richard Ihrie, who held the post for just over five and a half years.
Halvorsen had been acting CTO since September, when Ihrie was named SVP and product leader for Intuit's Small Business Division. Ihrie now reports to SVP Brad Smith. Ihrie previously reported to CEO Steve Bennett. Halvorsen previously worked at the Xerox Parc facility and the Hewlett-Packard labs.
ADVENT PROFIT JUMPS
The release of a valuation against deferred tax assets inflated Advent Software's net income for the fourth quarter ended Dec. 31 to $76.6 million, compared to earnings of $953,000 a year earlier.
The benefit was $78 million, which countered a fourth-quarter operating loss of $2.2 million. That compared to an operating profit of $2.2 million in last year's corresponding period. Meanwhile, revenue for the most recently ended period rose to $50.2 million, up from $45.6 million. Revenue for fiscal 2006 was $184.1 million, up from $168.7 million for 2005. Earnings for 2006, impacted by the valuation release, hit $86.2 million, up from $14.1 million a year earlier.
LIBERTY TAX NABS WEB VENDOR
Liberty Tax, which franchises storefront tax preparation operations, has acquired eSmart, which provides Web-based preparation and filing services, from C&S Technologies.
The deal does not include the payroll filing services of C&S, which is based in San Jose, Calif. Liberty will use the platform for providing preparation and filing, as well as for its participation in the Free File Alliance program.
CSI HIRING BOOMS
Creative Solutions has hired more than 100 employees at its Dexter, Mich.-based operations in the last year.
The Thomson company said it employs more than 800 in Washtenaw County and will add about another 100 workers this year.