About Me

My photo

Husband of one, Father of two, Fly for Fun, Get paid to wait.

Monday, December 8, 2008

Corporate Jets Are Necessary!

Bill Saporito's article in Time, "Why The Big 3 Should Fly Corporate Jets." gives some excellent arguments on why companies benefit from having a company airplane.

Here is a little bit of what was said, "The best thing about flying corporate isn't the comfy seats or the jumbo shrimp, or even the ego massage. The best thing about a corporate jet is that it's not a commercial-airline jet. The best thing is avoiding long airport-security lines and having to simultaneously untie your shoes, take off your coat, get a laptop out of a carefully packed bag and walk at the same time; it's avoiding the crummy, overpriced airport food, the packed planes, the overstuffed overhead bins and the frazzled, overworked crews. And being No. 175 for takeoff. When you fly corporate, you are driven up to the plane, you get in, and when everyone is ready, they tell the pilot to go. And then you do. That is real, unadulterated luxury.

Those complaining about the extravagant cost of winging CEOs around the world are also forgetting about the extravagant cost of CEOs. My own company, Time-Warner, at one time owned five G-5s, a couple of which were used to haul movie stars wherever it was they needed to be hauled to. They certainly were not for journalists; I've been on a company jet exactly once in the last 10 years. The shareholders paid Time-Warner CEO Jeff Bewkes $19.6 million last year. Based on a 40-hour week (and he'd better be working more than that), his hourly cost is about $9,400 — I'm guessing that's beyond the hourly run rate of a G-5. Bewkes has actually been known to fly commercial to Los Angeles. If he takes United Flight 29, he's on time 70% of the time. If he's not on time, he's cooling his heels at JFK, burning the shareholders' money. My money. So take the corporate jet, Jeff. We're not paying you to sit around airports reading People.

As for the Detroit Three, they don't have a choice this week. The weenies at Ford announced they were selling two jets (meaning, of course, that lower-ranking execs will be flying Northwest to the plant in Valencia) and driving a Ford Escape hybrid to Washington. GM has caved completely and shut down its air force, throwing 50 people out of work. (Thanks, Congressman Ackerman!) Maybe the President should send his helicopter for the GM honchos. He doesn't really have use for it now. And when some truly desperate Americans need a dramatic rescue, sending in Marine One isn't a bad idea at all."

You can read the article in its entirety here.

No comments: