Schwab protects its own
NEW YORK--The brokerage firm The Charles R. Schwab Corp. has invested $2.68 million since 2003 "for security systems and equipment" to protect its chairman and chief executive officer, Charles R. Schwab, the Associated Press reported.
The yearly breakdown for Schwab's security services looks like this: $307,022 in 2005; $2,000,315 in 2004 and $309,966 in 2003. "The amounts don't include portions of the home security system installation that Schwab paid for personally," the report said.
An "independent third-party consulting firm," retained in 2002, recommended the company provide Schwab "with the installation and maintenance of a security system at his personal residence, as well as security at his personal residence prior to the installation of the security system," the report said.
Schwab earned $4.25 million in salary, bonus and perquisites in 2005.