CFOs Split On Refund Profit
Companies are building their 2027 budgets from third-quarter results that included one-time tariff refunds. ACCO Brands counted its refund in adjusted profit, Fortive left its refund out, and FedEx is holding $2.7 billion in refunds for its customers.
- Vol. 2, No. 05 · November 2, 2026 · CFOs Split On Refund Profit
- Vol. 2, No. 04 · October 26, 2026 · CFOs Are Paying For AI With Jobs
- Vol. 2, No. 03 · October 19, 2026 · CHROs Lose The Training Ground
- Vol. 2, No. 02 · October 12, 2026 · Who Pays For The Rising Cost
- Vol. 2, No. 01 · October 5, 2026 · Capacity Is Changing Form
- Vol. 1, No. 12 · September 21, 2026 · Capital Now Charges For Proof
- Vol. 1, No. 11 · September 14, 2026 · The Supplier Owns The Timeline
- Vol. 1, No. 10 · September 7, 2026 · CEOs Stopped Waiting For Clarity
- Vol. 1, No. 09 · August 31, 2026 · Same Capex Is A Different Decision
- Vol. 1, No. 08 · August 24, 2026 · CFOs Now Borrow Above The Fed
- Vol. 1, No. 07 · August 17, 2026 · COOs Are Waiting On A Recovery
- Vol. 1, No. 06 · August 10, 2026 · Subtraction Is Reading As Progress
- Vol. 1, No. 05 · August 3, 2026 · The AI Bill Reaches Non-Buyers
- Vol. 1, No. 04 · July 27, 2026 · Three Prices Seesawed For 4 Days
- Vol. 1, No. 03 · July 20, 2026 · Decision-Making Ahead Of Clarity
- Vol. 1, No. 02 · July 13, 2026 · CEOs Now Hold The Shock Alone
- Vol. 1, No. 01 · July 6, 2026 · Operators Are Planning On Cuts
Clarity has an architecture.
Every issue follows one disciplined sequence, moving from context to consequence without wasting the reader’s time.
The operating environment, stated plainly.
Three developments grounded in evidence.
The larger shift connecting the signals.
The executive stance the moment requires.
What leaders should examine or challenge.
One question to carry into the week.
PJ Bickett is a Chief Growth Officer with more than twenty-five years advising executive teams and boards across technology, healthcare, financial services, and consumer industries. Most of that work was done from the same seat this brief is written for: deciding with incomplete information, under time pressure, where the cost of waiting is real but rarely appears on a report until later.
Every issue is researched and written by hand, and the judgment in it is his own. Nothing is syndicated, no placement is paid for, and no outside party sees an issue before it publishes. What appears has to change a decision, or it does not appear. It is the brief he wanted and could not find.