The CEO of the world's biggest retailer topped the list of the most highly paid chief executives in the Southeastern U.S. Lee Scott of Wal-Mart was No. 1 among companies in the region that includes Alabama, Florida, Georgia, North Carolina and other neighboring states.

AP examined 2007 CEO pay data from the 410 companies in the S&P 500 that filed compensation disclosures with federal regulators in the first six months of this year. The following are the top earners in the Southeast.

1. Lee Scott of Wal-Mart Stores Inc.: $29.7 million

2. Dan Hesse of Sprint Nextel Corp.: $28.3 million

3. E. Neville Isdell of The Coca-Cola Co.: $21.6 million

4. Kenneth Lewis of Bank of America Corp.: $20.4 million

5. Steve Odland of Office Depot Inc.: $17.8 million

The AP's formula includes salary, perks, bonuses, above-market interest on pay set aside for later, and company estimates for the value of stock options and stock awards on the day they were granted.

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