Breath of fresh air on corporate perks from KMR

Posted by: Aaron Pressman on March 2, 2007

Via Michelle Leder (who may have a direct connection to the SEC’s EDGAR database wired into her brain somehow), we read this morning of a refreshing break from the string of disclosures on excessive corporate perks. From Kinder Morgan Management’s (Symbol: KMR) most recent 10-K filed last night and already reviewed by Ms. Leder:

Unlike many companies, we have no executive perquisites and, with respect to our United States-based executives, we have no supplemental executive retirement, non-qualified supplemental defined benefit/contribution, deferred compensation or split dollar life insurance programs. We have no executive company cars or executive car allowances nor do we offer or pay for financial planning services. Additionally, we do not own any corporate aircraft and we do not pay for executives to fly first class. We are currently below competitive levels for comparable companies in this area of our compensation package, however, we have no current plans to change our policy of not offering such executive benefits or perquisite programs.

It can’t be hurting too much. The stock is up 10% this year.

Reader Comments

1776indy

May 18, 2010 3:53 PM

Thankfully, the president understands one simple thing: oil.

Our entire economy will collapse without cheap access to it the way we're living now. Our economic engine gobbles up 21M bbl/day...that's over 1 Billion bbl every 50 days...THAT's over 7 Billion bbl annually. Our known reserves? 22 Billion barrels. AND THAT MEANS: If we only used domestic oil, we'd run burn every last drop in 3 years.

Of course, we will never RUN OUT of oil, but the ability to keep growing daily production has hit the wall globally. We current well depletion rates at about 3 to 4 percent annually, that means we need to discover another Saudi Arabia EVERY 3 YEARS JUST TO MAINTAIN where we are today, let alone grow the global economy.

It is simply not going to happen folks. Put in perspective Obama's goals: 21 billion gallons of cellulosic ethanol production by 2020? That's gallons, mind you, not barrels. That'll cover today's economy for a whopping two days.

We've got no choice. Live and work closer to home. Make buildings more efficient. Grow food locally. Forget about the 3,000-mile Caesar salad supply chains.

If we started TODAY with a wartime effort, it would take us 20 years to rescale our way of doing things and provide suburbia with transportation alternatives. Sadly, most of us are sleepwalking past the graveyard.

1776indy

May 18, 2010 3:53 PM

Thankfully, the president understands one simple thing: oil.

Our entire economy will collapse without cheap access to it the way we're living now. Our economic engine gobbles up 21M bbl/day...that's over 1 Billion bbl every 50 days...THAT's over 7 Billion bbl annually. Our known reserves? 22 Billion barrels. AND THAT MEANS: If we only used domestic oil, we'd run burn every last drop in 3 years.

Of course, we will never RUN OUT of oil, but the ability to keep growing daily production has hit the wall globally. We current well depletion rates at about 3 to 4 percent annually, that means we need to discover another Saudi Arabia EVERY 3 YEARS JUST TO MAINTAIN where we are today, let alone grow the global economy.

It is simply not going to happen folks. Put in perspective Obama's goals: 21 billion gallons of cellulosic ethanol production by 2020? That's gallons, mind you, not barrels. That'll cover today's economy for a whopping two days.

We've got no choice. Live and work closer to home. Make buildings more efficient. Grow food locally. Forget about the 3,000-mile Caesar salad supply chains.

If we started TODAY with a wartime effort, it would take us 20 years to rescale our way of doing things and provide suburbia with transportation alternatives. Sadly, most of us are sleepwalking past the graveyard.

Thom

June 26, 2010 1:19 PM

Please convince me that a person in Nevada, Utah, etc should want their tax dollars spent so that somebody in Seattle can travel faster to Portland? As usual, the center of the country is left out of any mass transit plans that ANY administration has had. Please don't forget that we live here and pay taxes also. And in most cases we already have fewer options when it comes to mass transit. Maybe if the Senate Majority Leader lived here we could get some of these perks. Oh, wait. He does!

Post a comment

 

About

Bloomberg Businessweek’s Ben Steverman focuses on the latest moves in financial markets and emerging trends in stocks, bonds, and funds, always with an eye toward giving readers a better understanding of the sometimes confusing and often chaotic world of money. Standard & Poor’s senior index analyst Howard Silverblatt will also provide his take on companies’ finances and the markets. Voted one of the “Top 100 Finance Blogs” in 2007.

BW Mall - Sponsored Links

Buy a link now!