By Noel T. Braymer
CFO stands for Chief Financial Officer. One of the first acts made by Wick Moorman when he came to Amtrak was hiring a new CFO. The CFO is a Vice-President level position. A major roll for the CFO at Amtrak is overseeing Amtrak’s accounting. There have been many questions about Amtrak accounting which doesn’t follow the norms of most accounting systems. Accounting is critical in measuring whether an organization is making or losing money and where it is making or losing money. Without this information it is impossible to know what actions are needed by management to reduce unneeded costs or to increase revenues. Mr. Moorman’s choice of a new CFO says a lot about the problems he found at Amtrak and that the CFO will be crucial to turning around Amtrak.
Wick Moorman chose as Amtrak’s CFO William Feidt. Besides both being from Mississippi, William…
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