Fireworks Over America's CFO, SCOTUS 'Chevron' decision, and the CFO-CIO relationship

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SCOTUS overturns Chevron deference: What CFOs should know

In essence, the overturn shifts the power of statute interpretation from unelected federal government agencies whose leaders are appointed by the President of the United States to elected representatives.

This overturn of the Chevron deference presumably sets the stage for an upcoming case to again challenge Auer v. Robbins, which if overturned would strip federal agencies of their ability to create, enforce and interpret regulations at will.?

Read the full story here.

Why fireworks finance is a blast

Nathan Carter , CFO of Fireworks Over America , is not only planning to light off fireworks in the Ozarks this weekend to celebrate the Fourth of July but is celebrating his company's most important holiday.

Although the belief that those in his industry "spend six weeks working hard for the Fourth of July and then take the rest of the year off," Carter says this is far from the truth — and breaks down the complexities of procuring and financing both wholesale and consumer firework demand.

"We recently were contacted by a pyrotechnic display company that’s a customer of ours that was working on Zach Bryan’s tour. They had an urgent need for the product and they knew that we were the ones that could get the product to them whenever and wherever they needed it."

Read the full story here.

CFO focus is on FP&A, technology and compliance

According to new data from 普华永道 , finance chiefs are spending more time on finance fundamentals and tech investment and implementation compared to a year ago. Surveyors suggest leveraging AI for “better predictive forecasting and complex scenario planning", but the type of AI provider to use, the cost-benefit associated with AI or the cybersecurity implications of the technology?—?are still unclear.

Read the full story here.

The CFO-CIO relationship

According to Rimini Street data, the CFO-CIO relationship is critical for business success. But, what exactly do CFOs want out of the relationship?

• 27% said, “I would request that the CIO look to existing IT budgets to identify needed funds.”
• 26%: “I would go to the Board to help the CIO secure the needed funding.”
• 24%: “I would partner with the CIO to identify the additional funds in IT or non-IT budgets.”
• 23%: “I would reallocate funds from another non-IT budget to support this initiative.”

Read the full story here.

CFOs should brace for an uneasy second half, according to Nick Florio

Nick Florio , principal at UHY-US , referred to the first half of 2024 as "far from normal." And, according to his latest opinion piece, he doesn't think it's going to get any easier for finance leaders this year.

Read the full story here.

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This edition of Preferred Shares was created by reporter Adam Zaki .