THE MOST FLAGRANT EXECUTIVE DIVIDEND PART 2
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.
6. LUXURY SWAG:-MGM Resorts International (MGM) gives its directors up to $14,000 in "M life express comps" - at company resorts. This is used for perks through MGM's rewards program. Constellation Brands Chairman Richard Sands, who spent his $10,000 "product allowance" at the wine and spirits company last year. Nine directors at Dell, who in addition to their $230,000 fees, got computers valued at $903 each.
|RICHARD SANDS, CONSTELLATION|
Liberty Global gave $223,736 to groups selected by Chairman Micheal Fries, including ten grand to an organization that " gave an award to Mr. Fries." WebMD gave $1.6 million to the Rose Foundation, where Chairman Martin Wygod is a trustee. Wyndham Worldwide buys each director a $1.1 million life insurance policy, with $1 million of that directed toward the charity of their choice.
|MICHEAL FRIES, CHAIRMAN LIBERTY|
McKesson Chairman John Hammergren saw his pension go up by $9.3 million last year to a grand total value of more than $92.6 million - and he can start collecting a month after he turns 55. His deferred compensation account rose by $2.67 million, of which $813,540 is what the SEC considers "above-market" interest. The company paid more than $1.4 million in above-market interest to its top five executives.
|McKESSON, CHAIRMAN |
9. DRIVING IN STYLE:-
S.L.Green Realty spent $51,882 on a personal car for Chairman Stephen Green - plus another $119,050 for a chauffeur. Foot noted figures that works out to $468 a day, or enough to drive 233 miles a day for a year in a New York City cab. CA Inc., which spent $113,057 on "personal Automobile use" for CEO William McCracken.
10.FANCY DIGS:-The Bermuda insurers win this with one hands down. Platinum Underwiters Holdings spent $432,000 on housing for Roberts S. Porter, chief of its Bermuda unit, and a total of $1.2 million for Porter and three other executives combined. Axis Capital Holdings, promised to may it Chief Executive Albert Bebchimol a housing allowance of $25,000 a month, or $300,000 a year, for hardship duty on the island Shakespeare made famous with his play,"The Tempest."
|ALBERT BEBCHIMOL, CHIEF|
AXIS CAPITAL HOLDINGS.
|ROBERTS S. PORTER, CHIEF OF|
THE BERMUDA INSURERS.