Only the Little People Pay for Lawn Care

As if we haven’t heard enough about Exxon's poor rich CEO’s dilemma over too much CASH, we now find out that Mr. Tyson Turkey Man didn’t fully disclose $3 million in perquisites, paid for, incidently by the shareholders!

While $3 million is certainly chump change in execu-land these days, the details of the matter are an amusing reminder of our wacky world - one in which executives pocket obscene amounts in salary, bonus and long-term pay from their shareholders and then turn around and bill them for theater tickets, clothing, antiques, Oriental rugs, vacations and lawn care.

According to the S.E.C., from 1997 to 2001, Mr. Tyson received a total of $3 million in perquisites - a bill shareholders didn't know they were paying. The perks included $38,000 in Oriental rugs and antiques, a $15,000 London vacation, an $8,000 horse and "substantial purchases of clothing, jewelry, artwork, vacations and theater tickets," the S.E.C. said.

At least Mr. Tyson didn't take this all for himself. Regulators said his wife, their three daughters and three people with whom Mr. Tyson had "close personal relationships" were also along for the ride.

Tyson shareholders also paid $464,132 for the personal use by Mr. Tyson, his family and pals of company-owned homes in England and Cabo San Lucas, Mexico. Shareholders paid $426,086 for these people to use company-owned aircraft, even on trips when Mr. Tyson was not on board. Also covered was $203,675 in housekeeping provided at five homes and $84,000 in lawn maintenance at the properties. More than $36,000 was spent on phone bills.

Wait, there's more: the company even paid $1.1 million to cover Mr. Tyson's income tax bills generated by his receipt of these perks.

This, by the way, is a man who made a total of $3.1 million in salary and $1.4 million in bonuses from 1997 to 2001, when he retired. (He stayed on as a director.) In 2001, Mr. Tyson held 103 million shares of Tyson Class B stock, which has supervoting rights.

It's not as if he couldn't afford to pay his phone bill.