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SEC rules expose prolific CEO perks; Big discounts, trips for wives, help on tax bills draw investors' ire.(News)
Crain's New York Business, April, 2007
Byline: Aaron Elstein it's no surprise that the chief executive of Federated Department Stores Inc. makes vastly more money than the people who stock the shelves at Macy's and Bloomingdale's. Turns out his employee discount is much better, too. Federated disclosed earlier this month that CEO Terry Lundgren, who received $16 million in compensation last year, gets 40% off any merchandise he buys at his stores.
That's twice the rate offered to most of the 188,000 people who work for him. The details behind Mr. Lundgren's company-subsidized shopping are part of a surge of fresh information about how companies pamper top executives. New rules from the Securities and Exchange Commission are forcing more comprehensive disclosure about perks, which range from...
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