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Macy's

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Learn more about Pete Peterson-funded astroturf projects at the Fix the Debt Portal.

Campaign to Fix the Debt
Company Profile
Company Name Macy's
CEO Name Terry Lundgren
CEO Compensation $17,650,702
CEO Retirement Assets $16,717,939
Underfunded Company Pension -$389,000,000
Annual Company Revenue $26,405,000,000
Tax Dodger ('08-'10) 12.1%
Click here for sources.
2011 data unless otherwise noted.
©2013 Center for Media and Democracy

Macy's, formerly Federated Department Stores, is the largest department store chain in the U.S, with over 825 stores across the country.[1] In 2005 it acquired its rival May Department Stores[2] Its brands are Macy's and upscale Bloomingdale's. Sales are some $27 billion annually.[3]

In 2011, Macy's reported a net sales of $26,405,000,000.[4]

Ties to Pete Peterson's "Fix the Debt"

The Campaign to Fix the Debt is the latest incarnation of a decades-long effort by former Nixon man turned Wall Street billionaire Pete Peterson to slash earned benefit programs such as Social Security and Medicare under the guise of fixing the nation's "debt problem." Macy's is part of the Campaign to Fix the Debt as of February 2013.

This article is part of the Center for Media and Democracy's investigation of Pete Peterson's Campaign to "Fix the Debt." Please visit our main SourceWatch page on Fix the Debt.

About Fix the Debt
The Campaign to Fix the Debt is the latest incarnation of a decades-long effort by former Nixon man turned Wall Street billionaire Pete Peterson to slash earned benefit programs such as Social Security and Medicare under the guise of fixing the nation's "debt problem." Through a special report and new interactive wiki resource, the Center for Media and Democracy -- in partnership with the Nation magazine -- exposes the funding, the leaders, the partner groups, and the phony state "chapters" of this astroturf supergroup. Learn more at PetersonPyramid.org and in the Nation magazine.

Personnel

Executive Management

As of February 2013:[5]

  • Timothy M. Adams, Chief Private Brand Officer
  • William S. Allen, Chief Human Resources Officer
  • Jeffrey Gennette, Chief Merchandising Officer
  • Michael Gould, Chairman and Chief Executive Officer, Bloomingdale's
  • Julie Greiner, Chief Merchandise Planning Officer
  • Robert B. Harrison, Chief Omnichannel Officer
  • Karen M. Hoguet, Chief Financial Officer
  • Jeffrey A. Kantor, Chairman, macys.com
  • Terry J. Lundgren, Chairman, President and Chief Executive Officer
  • Martine Reardon, Chief Marketing Officer
  • Peter Sachse, Chief Stores Officer

Board of Directors

As of February 2013:[6]

  • Stephen F. Bollenbach, - Chairman of the Board, KB Home
  • Deirdre P. Connelly - President, North American Pharmaceuticals, GlaxoSmithKline
  • Meyer Feldberg - Dean Emeritus and Professor of Leadership and Ethics. Columbia Business School
  • Sara Levinson - former Chairman and Chief Executive Officer, ClubMom, Inc.
  • Terry J. Lundgren - Chairman, President and Chief Executive Officer, Macy’s, Inc.
  • Joseph Neubauer - Chairman and Chief Executive Officer, ARAMARK Holdings Corporation
  • Joyce M. Roché - former President and Chief Executive Officer, Girls Incorporated
  • Paul C. Varga - Chairman and Chief Executive Officer, Brown-Forman Corporation
  • Craig E. Weatherup - former Chief Executive Officer, The Pepsi-Cola Company
  • Marna C. Whittington - former Chief Executive Officer, Allianz Global Investors Capital

Former board members include:[7]

  • Joseph A. Pichler, Former Chairman The Kroger Co.
  • Karl M. von der Heyden, Former Vice Chairman PepsiCo, Inc.

Political contributions

Federated Department Stores (Macy's) gave $35,000 to federal candidates in the 2006 election through its political action committee - 9% to Democrats and 91% to Republicans.[8]

Contact details

7 W. 7th St.
Cincinnati, OH 45202
Phone: 513-579-7000
Fax: 513-579-7555
Web: http://www.federated-fds.com

Resources and articles

Featured SourceWatch Articles on Fix the Debt

References

  1. About Us, Macys Inc, Accessed Feb. 18, 2013.
  2. Macys: A History, Macys Inc, Accessed Feb. 18, 2013.
  3. Macy's Profile, Hoovers, accessed July 2007.
  4. Macy's, "2011 Annual Report", organizational document, page 12.
  5. Macy's Inc, "Executive Management Team", organizational website, accessed February 2013
  6. Macy's Inc., "Board of Directors", organizational website, accessed February 2013
  7. Board of Directors, Macy's, accessed July 2007.
  8. 2006 PAC Federated Department Stores, Open Secrets, accessed July 2007.
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