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Wednesday, May 22, 2013

Prickish Perks- lavish living

On top of big salaries, companies pile on perks - Yahoo! Finance: "NEW YORK (AP) -- Wynn Resorts pays for founder and CEO Steve Wynn's residence at its tony Las Vegas hotel and casino at a cost of nearly $452,000.
Former IBM CEO Samuel Palmisano was guaranteed an administrative assistant and furnished office for life as a retirement gift — plus a $1 million office renovation.
Chipmaker Advanced Micro Devices bought the house CEO Rory Read struggled to sell for $790,000 — and gave him another $180,000 to cover his underwater mortgage.
These are not uncommon extravagances in the exclusive world of CEO perks, replete with bodyguards, chauffeurs and private jets. Last year, the median value of perks received by CEOs of big public companies was nearly $162,000, an increase of more than 9 percent, according to executive pay research firm Equilar. Perks declined in 2009, but have risen for three straight years."

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