Macy’s Lundgren pay package down 8%
New York City — Macy’s CEO Terry Lundgren’s compensation package dipped 8% in 2010 to nearly $11.8 million, according to an analysis by The Associated Press.
Lundgren received a salary of $1.5 million in 2010, the same as the year before. The stock awards he received were valued at $3.6 million when they were granted, about a 50% rise over what he received the year before, according to a Securities and Exchange Commission filing.
Pulling down his 2010 compensation was a 15% decline in the value of the stock options he was granted. For last year, the options were worth $1.24 million when they were granted, compared with $1.45 million for the stock-option grant made in March 2009. His performance-based cash bonus also was lower, at $5.25 million in 2010, compared with $7 million the year before.
The retailer also cut the compensation it paid to Lundgren for perks, which fell almost 70% from 2009 to $171,840 last year. The costs for Lundgren to have a company car and driver dropped from about $261,000 in 2009 to $42,237 last year. Starting in 2011, Macy’s said it also will limit Lundgren’s personal use of company-owned aircraft to $75,000 worth per year. His aircraft use totaled $94,881 in 2010.
Forest City and PlaceWise Media introduce Shoptopia Network
Cleveland — Forest City Commercial Management, in partnership with PlaceWise Media, announced Tuesday the launch of the Shoptopia Network.
Shoptopia combines online, social, mobile and digital screen-based communications into an interactive experience and relationship with consumers. This expansion of the original Shoptopia service, an online shopping community jointly created by Forest City and PlaceWise Media, is a network designed to enhance the relationship among malls, retailers, brands and shoppers with an interactive experience before, during and after shopping.
“The Shoptopia Network engages our shoppers with insights to all things fashionable, special offers and feedback from their peers,” said Jane Lisy, Forest City Enterprises VP of marketing for Commercial Management and chairwoman of the Shoptopia Network Advisory Board. “It’s a perfect integration of all the digital and physical shopping experiences. Shoppers are engaged, informed and rewarded for their participation.”
Shoptopia enables shoppers to gain insider knowledge and receive special offers, rewards and event invitations. Content is syndicated and broadcast through personal computers, mobile devices, tablets, and in-mall digital experience walls, providing consumers with real digital interactions that are natural extensions of the shopping experience.
As PlaceWise’s charter partner for the original Shoptopia community, Forest City conducted a two-year study to explore the future of retail center marketing. A key focus of the study was the need to better understand digital channels and their influence on both online and bricks-and-mortar purchasing habits. Finding that frequent online shoppers still highly value the in-mall shopping experience, Forest City recognized that the integration of social networking channels with in-mall shopping was necessary to engage shoppers and provide them with a complete experience.
At launch, Shoptopia is at 16 Forest City retail centers and will reach 12 million monthly shoppers. By the end of 2011, it is projected that the Shoptopia Network will include 150 retail centers and reach over 100 million monthly shoppers.
See who’s on top of this year’s most reputable companies list
NEW YORK — A good reputation — whether warranted or not — can do a lot for a company’s bottom line. So those companies that found themselves at the top of Forbes‘ most reputable companies list have much to celebrate.
The Forbes "Most Reputable Companies" list was compiled with the help of Reputation Institute,a private consulting firm, which conducted an online study among 32,946 consumers in which it measured their perceptions of those companies among the 150 largest in the U.S. that they were “somewhat” or “very” familiar with. Each company earned a “RepTrak Pulse” score of 0 to 100, representing an average measure of people’s feelings–or reputation–for a company. The scores were statistically derived from four emotional indicators: trust, esteem, admiration, and good feeling.
Reputation Institute then analyzed what it calls the seven dimensions of corporate reputation. That’s where it found that perceptions of the enterprise (workplace, governance, citizenship, financial performance and leadership) trumped product perceptions (products and services plus innovation) in driving behaviors.
Topping the list this year was Amazon, which earned a pulse score of 82.7, which was 5.76 points higher than last year and 1.3 points higher than Kraft Foods, the second most reputable company. According to Forbes,"Amazon earned its No. 1 rank by providing value to users, staying ahead of the curve in technology and innovation and responding quickly and ethically to scandals."
"Amazon is the most reputable company in the U.S. in 2011 because consumers believe that it stands for more than what it sells," says Anthony Johndrow, managing partner at Reputation Institute. "Its enterprise-wide story engages consumers in more than just delivering innovative products and services, a trustworthy and ethical customer experience or strong financial performance. The whole really is greater than the sum of the parts with Amazon, and this holistic perception creates a meaningful connection between Amazon and consumers, resulting in an excellent reputation score."
Other retailers to make the list include Kohl’s (ranked 13th with a pulse of 77.91), Lowe’s (ranked 21st with a pulse of 76.35), Target (ranked 23 with a pulse of 76.17), Home Depot (ranked 24th with a pulse of 76.11), Macy’s (ranked 26th with a pulse of 75.69), JCPenney (ranked 27th with a pulse of 75.34), CVS Caremark (ranked 30th with a pulse of 71.44), Kroger (ranked 36th with a pulse of 73.35) and Office Depot (ranked 39th with a pulse of 73.58).