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Life Without Father Is Tough At Macy's


In Business This Week

LIFE WITHOUT FATHER IS TOUGH AT MACY'S

Bankruptcy pressures are one way for companies to send the boss's kid packing. Ex-Macy's CEO Edward Finkelstein, who resigned under pressure in April, had secured his two sons lucrative jobs before he left. But life without Dad can be rough: Finkelstein's younger son, Mitchell, recently resigned as president and managing director of Macy's product development in Asia. In the year ended last August, Mitchell made $400,000, on top of a $142,000 overseas housing allowance. A Macy's official confirmed that Mitchell would not be replaced. Finkelstein's oldest son, Daniel, is staying on as chairman of Macy's West. Dan made $553,000.EDITED BY JOAN WARNER


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