Amazon.com, The Bodyguard

theodp writes "While the press is running Amazon's standard we-can't-make-our-CEO-accept-more-than-$81,840 line again this year, the e-tailer's recent SEC filing does disclose an interesting new compensation tidbit. On top of what it spends to provide security for its CEO at business facilities and during business travel, Amazon shells out an estimated $1.1 million a year to cover the cost of security arrangements for billionaire CEO Jeff Bezos. Holy Jack Welch, Batman - that's a lot of door desks!"

Seems reasonable

[flyingember]

That's $550/hour. Better than the $160,000/hour some ceos make

Income tax

[Aceticon]

There's a not that uncommon tax scam for company owners which works as the following:
- Company owner is also company CEO
- Company CEO is payed minimum/symbolic wages
- Company pays for just about any expense of the owner/CEO and his family

Thus "safe"-house, bulletproof limo, bodyguard-driver, security-certified cleaning company, bulletproof yacht ...

I reckon that for a listed company, the positive advertising (and share price boosting) effects of divulging a CEO's low salary would make such a scam even sweeter ...

Re:Seems reasonable

[Zelucifer]

Well, a 3-day event involving Bush, his inauguration as a matter of fact cost $17 million dollars for security. Now when you consider that they're spending apparoximately $6.1 billion on upgrading his helicopters (increase floor space, and communications... specifically adding secure lines with constant access), Marine One if you're curious. I'd say it's quite a bit more then a hundred times.... interesting article on the Marine One upgrade if anyone is interested Popular Science [popsci.com]

This is the way rich stay rich

[AndyMcL]

This is the way rich stay rich; have a company they control officially make all the money and spend all the money on them. That way it never shows up as their personal income or expenses so the tax man stays away would be litigators do not have much to try to sue for.

That is the way the smart rich people do it. Middle and low class lamers (me included) make all their income as salary and so are taxed on everything we make. Also, if we are sued we could lose everything we have.

There must be some tax advantage reason for the dollar amount get gets in salary.

So don't fault Jeff, he is just using the American system to his advantage.

--just some thing to think about.

Sincerely,

Middle Class Lamer

Securing the Executive Branch

[bigdaddyhame]

Certainly he needs bodyguards, and rightly so. The market for kidnapping billionaires' relatives for ransom is quite lucrative. Up in Canada one of our billionaires, Jim Pattison, paid an undisclosed ransom to kidnappers after his daughter was kidnapped. She was returned unharmed, but no doubt Pattison's security detail was upgraded. Didn't the family that owns the Heineken brewery in Holland suffer the same? The board of directors of any large company have a responsibility to the shareholders to keep themselves, and the Chairman and CEO, out of trouble.

what is a big deal exactly?

[BigGerman]

Even one decent bodyguard 24 hours a day is going to cost you some $400,000 a year. And I am sure those guys need gear and gas and expense accounts. I dont think this amounts to much.