Last Update: March 19 @ 7:09 PM
health care
CVS execs no longer an auction prize

By PBN Staff


WOONSOCKET – CVS Caremark Corp. appears to have ended its long-time practice of auctioning off trips with its top executives during this week’s annual CVS Caremark Charity Classic golf event, The Wall Street Journal reported today.

The Journal reported that four items were auctioned off at the event’s annual dinner, held at the R.I. Convention Center on Monday. They included a golf trip for four to Naples, Fla., and a private suite at Gillette Stadium in Foxboro for an upcoming Billy Joel and Elton John concert. But none of the auction items were listed as including face-time with CVS Caremark executives.

An article in The Journal last year had reported that CVS vendors valued the exposure to CVS executives they could get if they won the trips, but said others felt the result was a “pay to play” system that resulted in favorable treatment for those who bid.

CVS Caremark declined to comment directly on the apparent change, but emphasized that the company was proud of the annual event, which has raised a combined $12 million since it began.

The golf tournament was held earlier this week at the Rhode Island County Club in Barrington.

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