9 Most Disgusting, Absurd CEO Perks

The mindless, shortsighted pursuit of profit is hard work, for which the nation's top execs are fairly well-compensated. But million dollar annual salaries aren't enough to keep the "top talent" happy apparently. So companies have devised novel perks and benefits in order to shovel millions of dollars onto the millions of dollars CEOs already get paid. Daily Finance has compiled a list of the 9 most absurd perks lavished on some the country's top executives. Here are a couple from the list:

1. $772,000 to Dig Millionaire Out of Underwater Mortgage

As of this summer, about a quarter of Americans struggled under the weight of an underwater mortgage. But not Richard Anderson of Delta Airlines! Anderson, who makes 2.5 million a year, owned a home in Atlanta worth less than its mortgage. So Delta shelled out $772,000 to cover the difference when the CEO relocated.

On a completely unrelated note airlines across the board continue to jack up prices, according to a recent piece in the New York Times.

2. $391,000 in Tax Prep

The median household income in the U.S. was $52,029 in 2008, according to the Census Bureau. Or, to put it differently, hundreds of thousands of dollars less than Occidental Petroleum's Ray Irani gets in personal tax prep. The oil and gas company pays their CEO $391,000 for financial planning services to help manage his personal finances. Aren't you glad you make too little money to require the services of such pricey financial planners?

3. $110,000 in Attorney Bills

Yahoo's Carol Bartz racked up exorbitant attorney fees while negotiating for her exorbitantly high salary. That's OK -- once she got hired the company reimbursed her for the $110,000 bill she owed from squeezing them for more money.

4. 1.3 Million to Move

Boston Scientific (BSX) CEO Ray Elliot makes over 30 million. Not enough to cover his move apparently, so the company paid $1.3 million for relocation costs and a cost-of-living allowance.

5. $724,000 for Car and Driver

It's probably not cheap to travel by litter these days, which may explain why Travelers' CEO Jay S. Fishman is reimbursed $724,000 to cover his transportation fees.

Read the article here.

 

AlterNet / By Tana Ganeva

Posted at November 10, 2010, 7:11am