From The Associated Press:
THE 'HOUSING CRISIS HITS HOME' AWARD:
Qwest Communications International Inc. (NYSE: Q) - It may be in the
telecommunications business, but it hasn't escaped the housing market
downturn. Bought a house for its new CEO last summer, ultimately sold the house and lost $1.83 million on the episode.
THE 'LET'S GO SHOPPING' AWARD:
Macy's Inc. (NYSE: M) gives its top brass an additional discount on top of the discount
that the rest of its employees get. That totals 40 percent off the
retail price. There's more: The Cincinnati-based department store chain
also picks up the taxes on that extra discount because it's considered
taxable income.
THE 'YOUR PAY IS BASED ON WHAT?' AWARD: To companies that trumpet
the idea of "pay for performance" but then don't give investors the
detail they deserve in knowing what that means.
A study by
compensation consulting firm James F. Reda & Associates of about
300 large public companies found that just 16 percent were thorough in
spelling out exactly how pay supposedly tied to the company's annual
performance was measured — and how much was actually paid. Another 19
percent provided no detail at all.