Sunday, November 23, 2008

GM and Ford To Get Rid of Some Private Planes They Don't Like Totally Need...Maybe

Even though GM CEO Rick Wagoner and Ford CEO Alan Mulally are required by their companies to fly by private aircraft for security reasons, they think they may be able to part with their private jets.

Of course this has nothing to do with their recent excursion to Washington to beg for money. Wilkinson said the decision to return the leased corporate jets was made before this week's hearings and that the company in September returned two other of the seven jets it had at the beginning of the year.

It's interesting Wilkinson would not have mentioned this when he was being battered around during the hearing held by the U.S. House Financial Services Committee.

According to Ford's proxy, Mulally was required to use Ford aircraft for all business and personal air travel in 2007 for "security reasons" and his family and guests were allowed to accompany him.

The arrangement also covers travel by Mulally's wife, children and guests on company aircraft for personal reasons without him at company expense upon his request to "ease the burden" of moving to Michigan and away from family in Seattle, according to the proxy.

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