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Tax-Free C.E.O.'s

Forget the car and driver. The most popular perk in April is getting your company to cover your tab at the I.R.S.
Illustration of businessmen pointing towards real estate sign.
From lawn care to fast food, every industry is blaming the mortgage meltdown. Read More
Last Trade:Change:
Industry:
Technology
Primary executive:
Mark V. Hurd,
Summary:
The Company is a provider of products, technologies, software, solutions and services to individual consumers, small- and … View More
Last Trade:Change:
Industry:
Technology
Primary executive:
Edward D. Breen,
Summary:
The Company is a provider of security products and services, fire protection and detection products and services, valves … View More
Last Trade:Change:
Industry:
Leisure
Primary executive:
Douglas H. Brooks,
Summary:
The Company owns, develops, operates and franchises the Chili's Grill & Bar, On The Border Mexican Grill & Cantina, Maggiano's … View More
Last Trade:Change:
Industry:
Technology
Primary executive:
Steven P. Jobs,
Summary:
The Company designs, manufactures and markets personal computers, portable digital music players and mobile communication … View More
Last Trade:Change:
Primary executive:
Leland E. Tollett,
Summary:
The Company produce, distribute and market chicken, beef, pork, prepared foods and related allied products. View More
Mark V. Hurd
Industry:
Technology
Biography:
Mr. Hurd has served as Chairman of HP since September 2006 and as Chief Executive Officer, President and a member of the … View More
Edward D. Breen
Industry:
Technology
Biography:
Mr. Breen, age 51, has been our Chairman and Chief Executive Officer since July 2002. Prior to joining Tyco, Mr. Breen was … View More
Edward Breen
Photoillustrations by Julie Teninbaum
Dennis Kozlowski, the high-living ex-C.E.O. of industrial conglomerate Tyco, wound up in the Mid-State Correctional Facility in Marcy, New York, after (among other things) skipping out on his taxes. The company is taking no chances with chairman and C.E.O. Edward Breen, whose contract gives him "tax-assistance payments"—gross-ups—"for New York State and City income tax on his Tyco-source compensation." Last year, that came to $330,200.

Apple iPhones
In June, Apple's iPhone buzz was deafening in Cupertino, California: All 21,600 Apple employees were handed free iPhones that were grossed up for either $250 or $379, presumably depending on whether they were given the 4-gigabyte or 8-gigabyte model.

John Tyson
Tyson Foods chairman John Tyson signed a 10-year contract last year that gives him tax gross-ups that include 120 hours of personal-jet use, a car (plus gas), and home internet access. The contract also requires the firm to retain Tyson as a 20-hour-a-month consultant for $300,000 a year—a part-time salary that's not grossed up.

Ron Kirk
Former Dallas mayor Ron Kirk is a board member of restaurant group Brinker International, best known for operating the casual-dining chains Chili's and Romano's Macaroni Grill. He received $1,022 to cover Awesome Blossoms, Bottomless Tostada Chips, and whatever else he may have ordered at Brinker bistros. Notes the proxy statement: "Our directors receive a complimentary dining card for use in our restaurants."

Mark Hurd
In 2007, Hewlett-Packard C.E.O. Mark Hurd received $34,835 to cover "the first 25 hours of personal usage of company aircraft," "storage costs and related moving expenses," and "meals associated with business travel ... in connection with events to which family members were invited."

 



 

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