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Other people's money.

It's proxy statement season for most publicly traded companies, and those releases are packed with nuggets of Whispers readers' No. 1 interest: Other People's Money.

The compensation packages for top executives are typically most newsworthy, but "related person transactions" can also be enlightening.

For instance, last week's proxy from Wal-Mart Stores Inc. revealed that the company paid about $1.5 million to the University of Arkansas in fiscal 2013, including $860,500 for using university facilities for meetings and events--primarily for the Really Big Show known as the annual shareholders meeting.

The rest was spent on academic studies and educational services and for contributions and sponsorships.

Wal-Mart has to disclose its dealings with the UA because of the Gearhart Factor: G. David Gearhart, chancellor of the UA, is the brother of Jeffrey J.

Gearhart, executive vice president of global governance for Wal-Mart.

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Title Annotation:Whispers
Publication:Arkansas Business
Date:Apr 28, 2014
Words:142
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