Comments on: Shocker: Fat cat CEOs fly on private jets!

By: Jim

Jim — Wed, 28 Jan 2009 21:37:17 +0000

As the bailout money is continuing to pour into companies like Citigroup, a big news story has been about their use of private jets. President Obama has ordered Citigroup to cancel their 50 million dollar jet that was soon to be delivered. James Peragine at Privateaircharterjets.comhas said that private charter is actually up in the wake of the current economy and he attributes is to many aircraft owners making the switch to Private Charter instead as the sell of their aircraft.

By: Josh G

Josh G — Wed, 26 Nov 2008 21:13:03 +0000

Of course the Big Three CEOs have to fly in private jets. It’s a matter of personal security. Imagine if they flew with the public - there would be hundreds of fellow travelers who would try to LYNCH them!

By: Don in CA

Don in CA — Wed, 26 Nov 2008 17:42:28 +0000

TEMPEST IN A TEAPOT. All big companies — and countries — fly their execs around. It is much more time- and cost-efficient than flying commercial. If we constrained the CEOs to commercial airlines, they businesses would suffer in global competition. People, please grow up.

By: turista

turista — Tue, 25 Nov 2008 16:27:19 +0000

BUSINESS 101 - This executive arrogance, and corporate demise, is actually only possible due to the BOARD of DIRECTORS, who are the REAL culprits. In a corporation like GM or Lehman the shareholders OWN the company. They paid good, hard cash to buy an ownership share of a corporation. The Board of Directors are SUPPOSED to represent shareholder interests, develop corporate strategy and direct the Executive who implement their directive. This is why the Board MUST be approved by the shareholders. What is actually happening is that the Executive are nominating a slate of collaborating Directors, which the shareholders trustingly approve, but then the Directors give the Executive everything they want - airplane, extravagant pay, undeserved bonuses, and more. In EVERY case, in both the financial industry and the automotive industry, the DIRECTORS SHOULD BE PERSONALLY SUED and MADE LIABLE for BREACHING THEIR FIDUCIARY RESPONSIBILITY to the SHAREHOLDERS. Had they been doing their job of protecting the shareholders investment and corporate value, by firing grossly incompetent executive, the situation would not be so dire. The BOARD of DIRECTORS should be in the news more than the executives, and shareholders should initiate a class action claim against them personally. Thats the ONLY way pandemic corporate mis-governance will stop.

By: Quincy

Quincy — Tue, 25 Nov 2008 01:10:35 +0000

what you fail to realize is that this isnt in any aspect about these dumb over the top cocky arrogant CEO’s its about you and me. about us hard working americans that are working our butts off but still cant afford a home. the problem is to big now to just let capitalism take its course and destroy these companies because when these companies fall where will we go to work??? the way i see it in the real world we have no choice but to rescue every single large organization that gets into trouble because it is the governments job to keep america strong and the millions of people in the auto industry help keep this country strong oh and dont forget they pay taxex too at least those taxes can do is save their jobs

By: jason

jason — Mon, 24 Nov 2008 06:06:47 +0000

What happened to capitalism? The principle is that weakness loses and strength sustains. If the companies fail those that replace them will be stronger and better suited to the needs of the market.

By: ARF

ARF — Fri, 21 Nov 2008 22:47:59 +0000

While the CEO’s made a mistake in the jets, it is rather ironic that the Senators and Congress people would complain. It was just two years ago that Nancy Pelosi thru a public fit that the plane the government gave her as the Speaker of the House was only a Gulfstream sized plan. She demanded and go a Boeing 757!

By: kozette

kozette — Fri, 21 Nov 2008 11:47:19 +0000

When those “Financial Masters of the Universe” pull their head out of their bum, cut their operating costs (ie salaries) from the top all the way down, and develope a business plan that actually shows them running at a profit….then give them some help. But not until then.

By: bob

bob — Fri, 21 Nov 2008 05:57:32 +0000

sloan where do you work? and where did you get your information at.

By: Kevin Riley

Kevin Riley — Fri, 21 Nov 2008 05:29:42 +0000

Rick had to buy back my brand new Cadillac because it was a lemon. He could have driven that car to D.C., however, there’s a chance he wouldn’t have made it beyond Toledo before the Check Engine light came on…