Half a gold star…

April 29, 2005

Fridays are usually reserved for gold stars here at footnoted.org and I found something earlier this week that seems like it qualifies, though the company doesn’t give quite enough info to warrant a full gold star. In its proxy filed earlier this week, women’s clothing retailer Talbots (TLB) notes that its Chief Executive, who like many CEOs is required to fly on the company jet for the oft-cited “security reasons” donated the equivalent of that travel to Talbots Charitable Foundation (scroll down about halfway for a description). That’s clearly better than KerrMcGee’s (KMG) CEO, whom I noted a few weeks ago actually got the company to pay for his charitable work. But in the proxy filed earlier this week, Talbots only provides the cost of providing the aircraft, which was $291,065 last year — more than double the amount it spent in 2003. As a result, it’s not really clear how much CEO Arnold Zetcher actually contributed to the foundation. So Talbots/Zetcher get half a gold star for the donation, but needs to provide more details to earn the other half.

Leave a Reply

You must be logged in to post a comment.