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Featured Speaker:
Stephen Brown is a senior director in Fitch Ratings’ corporate finance group. He has lead analytical responsibility for Fitch’s coverage of North American auto manufacturers and suppliers.
Prior to joining Fitch in 2004, Stephen spent six years at United Airlines where he was responsible for the financial planning and analysis functions of the company’s marketing, sales, reservations, and North America divisions. He also worked in the airline’s capital planning group. Stephen began his finance career at General Motors’ Delphi Saginaw Steering Systems division, conducting financial analyses on the unit’s worldwide operations.
Stephen earned a BS from Northwestern University and an MBA from the University of Rochester’s Simon Business School.
Group Description
The Financial Reporting and Analysis Group follows issues and events affecting financial reporting, corporate disclosure, and accounting standards. Its primary mission is to keep CFANY members informed about these issues. The group also comments on proposed new financial reporting standards (before Regulators and Standard Setters).
The next meeting of the Financial Reporting and Analysis Group will take place on Monday, October 13 at 6:00 PM. It will start with a review of upcoming programs and a discussion of potential future programs. At 6:30 PM, we will be joined by our speaker, Stephen Brown, Senior Director, Fitch Ratings, who will discuss the recent Chapter 11 bankruptcy filing of First Brands Group, an automotive aftermarket supplier and maker of FRAM oil filters and Anco windshield wipers. The First Brands bankruptcy filing followed the collapse of its debt prices and allegations of irregularities with respect to its accounts receivables-backed loans. Mr. Brown will help us assess whether this event has potential implications for financial reporting (i.e. accounting for off-balance transactions), and the private lending and asset-backed securities markets.