THE MOST FLAGRANT EXECUTIVE DIVIDEND PART 1
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The Annual surrogate filed with the Securities and Exchange Commission provide a detailed look at the chauffeurs, luxury homes and globetrotting jet travel that some public companies deluge on their top executives. With the help of Morningstar's Footnoted.com, here are the most flagrant perks from this years delegate season.
1. FLYING HIGH:-
BARRY DILLER of Expedia and IAC/InterActive Corp. is the topper and winner of the King of the Corporate Jet award after spending up to $1.28 million in personal flight time. Specific mention: Melvin and Ellen Gordon of Tootsie-Roll Industries, who spent @1.2 million jetting back and forth from their home to the Headquarters in Chicago; and Sears holding Corp. Chief Louis D'Ambrosio, who spent $793,224 travelling between the Windy City and his home in Philadelphia.
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SEARS HOLDING CORP. CHIEF
LOUIS D'AMBROSIO |
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MELVIN AND ELLEN GORDON OF
TOOTSIE-ROLL IND. |
2. EXECUTIVE DUDE ESTATE:-
Title-insurance company Fidelity National Financial spent $453,382 enthralling its managers at the Rock Creek Cattle Co, a 28,000 acre "working Montana ranch" that which is owned by the Chairman of the Fidelity company. The company also spent a whoopping amount of $55,000 at wineries and other businesses owned by Foley.
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WILLIAM FOLEY - OWNER OF THE
ROCK CRECK CATTLE CO. |
3. TAX PREPARATION ON STEROIDS:-
The busy executives of a top firm will need some assistance when it comes to accounting. At present this allowance has become a to costlier affair.Tom Ward of Sand Ridge Energy reported getting $783,533 worth of "Accounting Support" from company employees last year. Embattled Chesapeake Energy Chief Aubrey McClendon, who's fought with margin calls and a reported billion-dollar personal commitment to company drilling projects got $250,000 in "personal accounting support."
LIKE FORT KNOX:-
Top executives need to be protected, but Las Vegas Sands Chairman Sheldon Adelson took home security to a new level, spending $2.6 million on the security of his family and himself alone last year. Amazon's Jeff Bezos, whose security detail cost was a whooping $1.6 million last year.
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| SANDS CHAIRMAN SHELDON ADELSON |
5.CADILLAC HEALTH PLANS:-
The Live Nation Entertainment spent $121,318 on health premiums for their Chairman Irving Azoff, an amount which is more than what is spent on his employees. UltraTech Founder and Chief Executive Arthur Zafiropoulo, has paid $164,000 towards his lifetime health care in the past two years.
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LIVE NATION ENTERTAINMENT CHAIRMAN
IRVING AZOFF. |
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| ULRATECH FOUNDER - ARTHUR ZAFIROPOULO |
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