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Little Sinkhole On The Prairie


Up Front: Executive Perks

LITTLE SINKHOLE ON THE PRAIRIE

When American Express moved Harvey Golub from Minneapolis to its New York headquarters in mid-1991, it bought his $6.9 million mansion, making him whole. Harvey's house, in suburban Edina, then languished unsold.

Well, AmEx, which pays now-Chairman Golub $3 million a year, has finally landed a buyer. According to the Minneapolis Star and Tribune, a local heart surgeon recently snatched up this palace for a bargain $2 million--a figure AmEx confirms. AmEx' loss, including its $1.3 million in taxes and other costs, totals a cool $6.2 million. Says an AmEx spokeswoman: "He got the same benefits [as] any other senior executive."

Golub, who had headed Minneapolis-based IDS Financial Services, an AmEx subsidiary, built the 15,000-square-foot place but never lived in it before his transfer. It comes with a four-car garage including its own car wash, a TV that rises out of a kitchen counter, and a computerized bathtub that automatically fills and maintains its temperature till you're ready. Leah Nathans Spiro


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