Sunday, November 23, 2008

The Cost of Business Travel: Bankruptcy?

DETROIT - JANUARY 12:  In this handout photo p...Image by Getty Images via DaylifeThe Cost of Business Travel: Bankruptcy?

I blogged yesterday about the corporate jet fiasco. This morning I saw this:

From the Luxist, a blog post by Deirdre Woodward with more details on General Motors and business travel expenses:

Regulatory filings reveal that:

  • Ford spent $752,203 last year on CEO Alan Mulally's personal use of the company's aircraft using the jet for all business and personal travel for security reasons.
  • Ford also spent $29,107 last year on first-class commercial airfare for Ford Americas President Mark Fields' to fly to and from his Florida home.

Chrysler doesn't own any corporate jets but leases or charters planes per trip as needed and says they try to fill the jet whenever possible including giving children rides to Detroit hospitals from other cities.

The corporate jet has been seen for years as a necessary perk for CEOs who frequently travel but like lavish holiday parties, luxury boxes at sporting events, and corportate retreats, the private jet now serves as a symbol of greed and foolish expense.

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