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atomic chefs

ANNE KINGSTON February 13 2006
THE BACK PAGES

atomic chefs

ANNE KINGSTON February 13 2006

EMPLOYEE OF THE WEEK

BOOKKEEPER TAKES ON SPENDTHRIFT TITAN

It takes a big man to tell a much bigger man to cut his spending. Philip Simon, accountant and financial adviser to Larry Ellison, CEO of Oracle Corp., has warned Ellison that he needs to stick to a budget. Simon has told Ellison, who is worth US$17 billion, “It’s imperative we start to budget and plan.” Ellison has a US$l-billion line of credit, which he frequently maxes out, and he often spends US$20 million annually in miscellaneous expenses.