AUSWR
The Association of U S West Retirees
 

 

 

Executive perks and quackers may be easy to discern
The Arizona Republic
Saturday, February 4, 2006

The U.S. Securities and Exchange Commission is giving corporations a glimpse of the executive perks it wants disclosed to shed more light on top management's pay. Among its targets:  personal use of company aircraft, yachts and club memberships.

While the SEC guidelines don't provide a detailed list of every item to disclose, the agency is encouraging companies to reveal just about anything that isn't used for business purposes only, even commuting costs and exclusive discounts on company products.

"Where do you draw the line?" SEC Commissioner Cynthia Glassman (above) asked at a speech Friday at the ALI-ABA Financial Services Institute in Washington.  "My own personal rule of thumb is if it walks like a duck and quacks like a duck, it's a perk."

- Bloomberg News

http://www.azcentral.com/arizonarepublic/business/articles/0204biz-talker04.html