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March 7, 2007
Rich Kinder's Enron lesson
The following blurb from Houston-based Kinder Morgan's recent 10K certainly indicates that chairman and CEO Rich Kinder learned a thing or two from his experience at Enron, particularly in the area of public relations:
Unlike many companies, we have no executive perquisites and, with respect to our United States-based executives, we have no supplemental executive retirement, non-qualified supplemental defined benefit/contribution, deferred compensation or split dollar life insurance programs. We have no executive company cars or executive car allowances nor do we offer or pay for financial planning services. Additionally, we do not own any corporate aircraft and we do not pay for executives to fly first class. We are currently below competitive levels for comparable companies in this area of our compensation package, however, we have no current plans to change our policy of not offering such executive benefits or perquisite programs.
Hat tip footnoted.
Posted by Tom at March 7, 2007 4:10 AM
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