Golden years
McKesson Chairman John Hammergren saw his pension go up by $9.48 million last year to a grand total value of more than $94.4 million — and he can start collecting a month after he turns 55. On top of that, his deferred compensation account has $2.72 million, of which $829,692 is what the SEC considers 'above-market' interest (more than 120% of the IRS' long-term AFR). Altogether, the company paid more than $1.43 million in above-market interest to its top five executives.
McKesson Chairman John Hammergren saw his pension go up by $9.48 million last year to a grand total value of more than $94.4 million — and he can start collecting a month after he turns 55. On top of that, his deferred compensation account has $2.72 million, of which $829,692 is what the SEC considers 'above-market' interest (more than 120% of the IRS' long-term AFR). Altogether, the company paid more than $1.43 million in above-market interest to its top five executives.
High flying
Barry Diller of Expedia and IAC/InterActive Corp. wins the King of the Corporate Jet award after racking up $1.3 million in personal flight time. Honorable mention: Melvin and Ellen Gordon of Tootsie-Roll Industries, who spent $1.22 million jetting back and forth from their home to the headquarters in Chicago; and Sears Holding Corp. Chief Louis D'Ambrosio, who spent $809,121 commuting between the Windy City and his home in Philadelphia. What is it about Chicago that nobody wants to live there?
Barry Diller of Expedia and IAC/InterActive Corp. wins the King of the Corporate Jet award after racking up $1.3 million in personal flight time. Honorable mention: Melvin and Ellen Gordon of Tootsie-Roll Industries, who spent $1.22 million jetting back and forth from their home to the headquarters in Chicago; and Sears Holding Corp. Chief Louis D'Ambrosio, who spent $809,121 commuting between the Windy City and his home in Philadelphia. What is it about Chicago that nobody wants to live there?
Executive dude ranch
Title-insurance company Fidelity National Financial spent $462,370 entertaining its executives at the Rock Creek Cattle Co., a 28,000-acre 'working Montana ranch' that just happens to be owned by Fidelity's chairman, William P. Foley II. Fidelity National also spent $56,150 at wineries and other businesses owned by Foley, who pulled down $12.76 million in salary and other compensation last year.
Title-insurance company Fidelity National Financial spent $462,370 entertaining its executives at the Rock Creek Cattle Co., a 28,000-acre 'working Montana ranch' that just happens to be owned by Fidelity's chairman, William P. Foley II. Fidelity National also spent $56,150 at wineries and other businesses owned by Foley, who pulled down $12.76 million in salary and other compensation last year.
Tax preparation on steroids
Busy executives need help with their accounting, but this perk has ballooned to outrageous proportions at some companies. Tom Ward of SandRidge Energy reported getting $800,000 worth of 'accounting support' from company employees last year. Embattled Chesapeake Energy Chief Aubrey McClendon, who's wrestled with margin calls and a reported billion-dollar personal commitment to company drilling projects, got $255,245 in 'personal accounting support.'
Busy executives need help with their accounting, but this perk has ballooned to outrageous proportions at some companies. Tom Ward of SandRidge Energy reported getting $800,000 worth of 'accounting support' from company employees last year. Embattled Chesapeake Energy Chief Aubrey McClendon, who's wrestled with margin calls and a reported billion-dollar personal commitment to company drilling projects, got $255,245 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 $2.65 million on personal security for himself and his family last year. Honorable mention: Amazon spent $1.63 million protecting Jeff Bezos.
Top executives need to be protected, but Las Vegas Sands Chairman Sheldon Adelson took home security to a new level, spending $2.65 million on personal security for himself and his family last year. Honorable mention: Amazon spent $1.63 million protecting Jeff Bezos.
Cadillac health plans
Live Nation Entertainment spent $123,767 on health premiums for Chairman Irving Azoff — over and above what it spends on most employees. Honorable mention: UltraTech Founder and Chief Executive Arthur Zafiropoulo, who's racked up $167,279 in expenses for lifetime health care over the past two years.
Live Nation Entertainment spent $123,767 on health premiums for Chairman Irving Azoff — over and above what it spends on most employees. Honorable mention: UltraTech Founder and Chief Executive Arthur Zafiropoulo, who's racked up $167,279 in expenses for lifetime health care over the past two years.
Luxury swag
MGM Resorts International (MGM) gives directors up to $14,286 in 'M life express comps' — used for perks through MGM's rewards program -- at company resorts. Honorable mention: Constellation Brands Chairman Richard Sands, who maxed out his $10,203 'product allowance' at the wine and spirits company last year; and nine directors at Dell, who in addition to their $234,684 in fees, equity and perks got computers valued at $921 each.
MGM Resorts International (MGM) gives directors up to $14,286 in 'M life express comps' — used for perks through MGM's rewards program -- at company resorts. Honorable mention: Constellation Brands Chairman Richard Sands, who maxed out his $10,203 'product allowance' at the wine and spirits company last year; and nine directors at Dell, who in addition to their $234,684 in fees, equity and perks got computers valued at $921 each.
Charity
Liberty Global gave $228,316 to groups selected by Chairman Michael Fries, including ten grand to an organization that 'gave an award to Mr. Fries.' Honorable mention: WebMD gave $1.63 million to the Rose Foundation, where Chairman Martin Wygod is a trustee; Wyndham Worldwide buys each director a $1.12 million life insurance policy, with $1.02 million of that directed toward the charity of their choice.
Liberty Global gave $228,316 to groups selected by Chairman Michael Fries, including ten grand to an organization that 'gave an award to Mr. Fries.' Honorable mention: WebMD gave $1.63 million to the Rose Foundation, where Chairman Martin Wygod is a trustee; Wyndham Worldwide buys each director a $1.12 million life insurance policy, with $1.02 million of that directed toward the charity of their choice.
Golden years
McKesson Chairman John Hammergren saw his pension go up by $9.48 million last year to a grand total value of more than $94.4 million — and he can start collecting a month after he turns 55. On top of that, his deferred compensation account has $2.72 million, of which $829,692 is what the SEC considers 'above-market' interest (more than 120% of the IRS' long-term AFR). Altogether, the company paid more than $1.43 million in above-market interest to its top five executives.
McKesson Chairman John Hammergren saw his pension go up by $9.48 million last year to a grand total value of more than $94.4 million — and he can start collecting a month after he turns 55. On top of that, his deferred compensation account has $2.72 million, of which $829,692 is what the SEC considers 'above-market' interest (more than 120% of the IRS' long-term AFR). Altogether, the company paid more than $1.43 million in above-market interest to its top five executives.
Driving in style
S.L. Green Realty spent $52,891 on a personal car for Chairman Stephen Green — plus another $121,367 for a chauffeur. Footnoted.com figures that works out to $477 a day or enough to drive 375-kilometres a day for a year in a New York City cab. Honorable mention: CA Inc., which spent $115,254 on 'personal automobile use' for CEO William McCracken.
S.L. Green Realty spent $52,891 on a personal car for Chairman Stephen Green — plus another $121,367 for a chauffeur. Footnoted.com figures that works out to $477 a day or enough to drive 375-kilometres a day for a year in a New York City cab. Honorable mention: CA Inc., which spent $115,254 on 'personal automobile use' for CEO William McCracken.
Fancy digs
The Bermuda insurers win this one hands down. Platinum Underwriters Holdings spent $440,487 on housing for Robert S. Porter, chief of its Bermuda unit, and a total of $1.22 million for Porter and three other executives combined. Honorable mention: Axis Capital Holdings, which promised Chief Executive Albert Benchimol a housing allowance of $25,491 a month, or $305,894 a year, for hardship duty on the island Shakespeare made famous with his play, 'The Tempest.'
The Bermuda insurers win this one hands down. Platinum Underwriters Holdings spent $440,487 on housing for Robert S. Porter, chief of its Bermuda unit, and a total of $1.22 million for Porter and three other executives combined. Honorable mention: Axis Capital Holdings, which promised Chief Executive Albert Benchimol a housing allowance of $25,491 a month, or $305,894 a year, for hardship duty on the island Shakespeare made famous with his play, 'The Tempest.'
Ron Payne
Welfare Legal
Hamilton, Ontario
