The next time you spot an armored Hummer double-parked in Manhattan, don’t automatically assume it belongs to some rapper. It could very well be that of Macy’s (M) Chairman and CEO Terry Lundgren. In the proxy that the company filed yesterday, it disclosed its new car and driver benefits for Lundgren:
Pursuant to an independent third-party [...]

Perks are a popular topic here at Footnoted. Some might argue, though, that it’s petty to focus on these personal goodies (however amusing), because even the zaniest perks rarely have a material impact on a company’s financials.
But you can turn that logic in the other direction and ask why more CEOs don’t just use their [...]

In its proxy filed Friday, General Dynamics (GD) assures us its executive perks are reasonable because they “benchmark” them against “generally accepted corporate practices.” But as Footnoted readers know, generally accepted corporate perk practices might be described as “anything goes.” Applying GD’s logic, I may start “benchmarking” my own behavior against whatever Britney Spears is [...]

It may not be quite as exciting as March Madness, but there’s nothing like proxy season to provide insight into a particular company, especially when it comes to the perks that are handed out to top executives. Whether that insight is deep or shallow largely depends on your own personal point of view.
One of the [...]

Blackstone (BX) filed its first 10-K yesterday morning and given its year-end results, not to mention its sagging stock price, it’s not surprising that the company spent 27 pages highlighting potential risk factors. Among our favorites is the one where Blackstone warns about the difficulty of sustaining growth as a public company:
These requirements may place [...]