SOURCE: FiREapps

March 12, 2008 14:01 ET

FiREapps and Yahoo! to Discuss Foreign Exchange Best Practices

Yahoo! Director of Corporate Treasury Karthik Chandran Joins FiREapps CEO Wolfgang Koester for a Practical Discussion of Foreign Exchange Best Practices to the Peninsula Treasury Management Association Members

SCOTTSDALE, AZ--(Marketwire - March 12, 2008) - FiREapps, the leading provider of Corporate Foreign Exposure Management Technologies, announced today that CEO Wolfgang Koester and Yahoo! Director of Corporate Treasury Karthik Chandran will speak at the Peninsula Treasury Management Association meeting today. During the presentation in Santa Clara, CA, Koester and Chandran will share their experiences helping to quantify and proactively manage currency volatility and discuss why FX volatility presents an enterprise risk to U.S. multinational companies.

With currency volatility at an all time high, discrepancies in a company's balance sheet and income statement are becoming less and less acceptable. Today, improperly managed foreign exchange exposure is affecting many companies' financial statements resulting in foreign exchange losses being reported in their quarterly earnings statements and decreasing the companies' share holder value.

"Treasurers today who understand the potential impact of foreign currency volatility and the scope of the problem know that they must increase the visibility of the issue and secure executive level support to be successful," said FiREapps CEO Wolfgang Koester. "This session will help the audience to understand the impact and challenges of FX exposure management, based on the real life experience of companies like Yahoo!, who are setting the standard for excellence in this area."

Topic:          Discover How Yahoo! Manages Foreign Exchange
Date:           Wednesday, March 12, 2008
Time:           11:30 a.m. PST
Location:       The Hilton Santa Clara
                4949 Great America Parkway
                Santa Clara, CA 95054
                (408) 330-0001

Koester and Chandran's discussion on foreign exchange best practices will help others understand how it affects their company's financial data and how to examine their company's financial operations and set the necessary policies and processes that allow leaders to make decisions to reduce the impact of currency volatility on corporate earnings.

About Koester

Wolfgang Koester is the CEO of Rim-Tec, Inc. which developed FiREapps, the leading provider of Corporate Foreign Exchange Management Technologies. Koester has been managing risk for Fortune 100 companies as well as governments, including G-10s, since 1986. Prior to forming Rim-Tec, Koester served as President with GFTA Trendanalysen Inc., a quantitative currency manager. Koester holds a Bachelor of Science from Arizona State University and a Master's Degree in International Management from The Garvin School of International Management.

About Chandran

Karthik Chandran manages strategic initiatives impacting corporate treasury at Yahoo! and oversees treasury operations in Europe and emerging markets. Over the last seven years he has shaped the treasury function at Yahoo! while serving in a variety of roles. He has an MBA from Auburn University and a J.D. specializing in International Law from Madras University, India.

About FiREapps

FiREapps, a subsidiary of Rim-Tec, Inc., is the leading provider of Corporate Foreign Exchange Exposure Management Technologies. The company provides technologies and services that help corporations optimize foreign exchange processes. These solutions help customers mitigate risk while increasing profitability and operational efficiencies. FiREapps has offices in Scottsdale, Arizona and Portland, Oregon.

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