The Executive Discount
Giving Makes You Rich
Top executives and directors for Polo Ralph Lauren, based in New York, get 50 percent off most products sold in the company’s stores.
Best Buy chairman Dick Schulze received $1,815 in discounted equipment from the Minnesota-based electronics retailer in the 2007 fiscal year. Schulze, who stepped down as C.E.O. in 2002, also was given unspecified discounts on his satellite-TV and cell-phone service.
Now that Jones New York has sold Barneys to Dubai-based Istithmar for nearly $1 billion, Jones directors will lose their discount at the tony retailer. Last year, director Allen Questrom’s 35 percent discount saved him up to $35,198.
Toiletmaker American Standard gave former senior vice president James Dwyer $33,000 worth of products before he stepped down last year.
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