They get paid for dying. They get to ride in private airplanes. And a good number of them—at least 91 out of the 247 major company proxies recently reviewed by the Wall Street Journal—get their own security detail.
According to the study, published last week and highlighted here on Valley Wag, the biggest spender was Oracle, which paid $1.7 million in 2007 for Larry Ellison’s security. Macy’s spent $87,000 to protect Terry Lundgren. Limited Brands CEO Leslie Wexner got $1.25 million toward personal security, which included use of corporate aircrfat.
Here’s an idea: Why not just pay them less, making their massive estates less tempting to criminals or others who would endanger their safety? The fact that one person can be so irreplaceable to a company that shareholders need to spend more than $1 million on their security is far beyond me.
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