Three gold stars…

April 27, 2007

images-16.jpegDuring proxy season, which more or less ends tonight (at least for those companies on a calendar year), we’ve seen lots of examples of top executives spending all sorts of company money on security guards, security systems and other related costs (see here and here and especially here).

So imagine my surprise when I came across the proxy that Playboy Enterprises (PLA) filed this week that disclosed that CEO Christie Hefner only spent a modest $17K on “paid protection services”. As tempting as it is to come up with a comment about the toughness of Brandeis women (I went there too), it probably has more to do with Ms. Hef covering her own security costs than anything else.

Another gold star goes out to the much smaller Rocky Mountain Fudge Co. (RMFD), which disclosed in this 8K that two top executives were stepping down for “personal reasons”, but would remain as consultants, charging a grand total of $20 an hour for their services. Compare that to the deal that Wally Malone received from Wachovia (WB).

And one final gold star on a non-SEC filing related issue: as the number of stories on tainted dog food continues to grow, I’m glad I switched to feeding the brain behind footnoted.org a raw diet several years ago.

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