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Politics : President Barack Obama
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To: stockman_scott who wrote (45205)11/20/2008 12:05:17 AM
From: tejek  Read Replies (1) of 149317
 
Congress needs to focus on what's really important...a few in Congress don't realize that virtually EVERY board of directors of almost every Fortune 500 company mandates that their CEOs fly on private planes (for security and efficiency)...The media and Congress were having fun with this today but it's more important to understand the companies plans for the future.

Yes, its not a huge point but it suggests a way of thinking that transcends corporate jets and helps explain why they are in the mess they are in. Did you know they have been stockpiling cars for two years because they couldn't sell them? Where is the logic in that?

I used to work for a President of a publicly traded media company when I got out of grad school -- and whenever I traveled with him we always were on a company owned Learjet (where business was conducted on board).

I've worked in private industry as well. I know the perks one can expect. Nonetheless, there need to be limits......esp. when your company is ailing.

Yet, GM, Ford, AIG, Goldman Sachs, and many others that are getting tens of billions of tax dollars to help "bail them out" often have too much overhead in this tough economy...In that case they don't need large fleets of corporate jets...Each of these companies don't need more than 1-2 planes and they can charter a jet from Buffet's Netjets firm if it's truly justified and they need more capacity for international execs in very special situations.

As I understand it, each auto company has a fleet of 8 jets. I see nothing reasonable about having that many planes esp. when you've been stockpiling your cars on Detroit parking lots for two years.
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