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CFOs put traffic on top of complaints list

Audit panels, they can deal with. Globalization doesn't scare them. But the area's congestion and education dismay them.

By HELEN HUNTLEY
Published March 22, 2006

TAMPA - Put three CFOs on a panel and what do they talk about?

Hint: It's not accounting.

Traffic jams, technology and globalization were on the minds of the chief financial officers of three of the Tampa Bay area's largest public companies when they got together Monday night to chat.

The panel: bay area newcomer Dirk Montgomery of Outback Steakhouse, Scottish transplant Forbes Alexander of Jabil Circuit and longtime Raymond James Financial veteran Jeff Julien.

The three were united in their amazement that anybody would pay money ($45) to hear them speak. But about 120 people did, turning out at the Hyatt Regency Tampa for a joint meeting of Financial Executives International and the Association for Corporate Growth.

Here's a glimpse of what they had to say:

TRAFFIC: It's the biggest Tampa Bay issue for their businesses. A commute that used to take him 17 minutes takes 45 and some Jabil employees are driving an hour and a half to work, Alexander said. "Infrastructure has become a major impediment to growth," Julien said. Concerns about the quality of education are No. 2.

TECHNOLOGY: It's crucial for all three businesses. At Outback, it's helping the company better manage customer relationships. The company's Fleming's Prime Steakhouse chain is using computers to keep track of its upscale customers' birthdays and wine preferences.

OUTSOURCING: Forget it. Alexander said Jabil wants to keep back-office functions in-house because "I like the control aspect."

GLOBALIZATION: The group claimed it hasn't hurt growth of their companies' U.S. jobs. If anything, it's good for the Tampa Bay area, since the headquarters grows along with the company, Outback's Montgomery said. While Jabil has a huge manufacturing base overseas, its U.S. employment is growing as the company expands in markets such as defense contracting, Alexander said.

AUDIT COMMITTEES: They've become much more active with the increased emphasis on corporate governance, and the CFOs claim to like it. "They're much more prone to questioning the things we do and say," Julien said. "They're of much more value to the company."

At times the CFOs sounded a bit like their bosses. Julien made Tom James-like pitches for better support of the arts and less regulation of the securities industry. His complaints of "over the top" regulation prompted Outback's Montgomery to respond: "I'm happy to be in the restaurant industry and not in the banking and investment industry."

[Last modified March 22, 2006, 01:58:24]