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No, Mr. Benmosche, You Can’t Fly the AIG Corporate Jet

zimmer

Educating the Ignorant
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No, Mr. Benmosche, You Can’t Fly the AIG Corporate Jet - Deal Journal - WSJ

Is this what AIG and the government should be spending time, money and effort on? Understandably, Benmosche could argue that the use of a company plane comes with the job of any major CEO. He has argued repeatedly that he needs leeway to run the company if the government hopes to get a return of taxpayers money.

Perhaps we should have Pelosi reimburse the public for their use of OUR (tax payer) jets for their private jollies.

.
 
Perhaps we should have Pelosi reimburse the public for their use of OUR (tax payer) jets for their private jollies.

.

Take it up with the Airforce or the Secret Service.
She's third in line for sucession to the Presidency as Speaker of the House. As was Dennis Hastert before her.

http://www.snopes.com/politics/pelosi/jet.asp
-Snip-
The White House also stood behind Pelosi.



"We think it's appropriate," he added. "And so, again, I think this is much ado about not a whole lot. It is important for the speaker to have this kind of protection and travel."

In the event, according to the Air Force, Speaker Pelosi does not routinely use the larger C-32 aircraft referenced in this brouhaha to travel between Washington and California (to the detriment of taxpayers' wallets and the environment) every weekend, as claimed in the e-mail quoted above. According to the Air Force, as of the end of 2008 she had used that larger airplane on only one occasion, when no alternative was available:
Eric Sharman, deputy chief of public affairs at Andrews Air Force Base, said that Pelosi has in the past used the C-20B and the slightly larger C-37A, depending on availability, and that these may or may not be able to make a nonstop cross-country flight depending on conditions. He confirms that Pelosi has used the C-32 once and only once, when no other planes were available.
In March 2009, Judicial Watch published various e-mails and memoranda related to Speaker Pelosi's use of military aircraft for other types of travel. As ABC News noted of those documents:
In fact, it appears that Pelosi uses military aircraft less often than her predecessor, former Speaker of the House Dennis Hastert.

The documents cover the period from January 2007 to November 2008 and show that Pelosi made the equivalent of 20 round-trips between Washington (Andrews Air Force Base) and San Francisco. That's an average of less than one round-trip per month. In contrast, former Speaker Hastert traveled home to his Illinois district virtually every weekend and, his former aides tell ABC News, he would almost always travel on military aircraft. Like Hastert, Pelosi also occasionally leads Congressional delegations on foreign trips (the documents show six foreign trips: one to Asia, three to the Middle East and two to Europe).
Moreover, the Air Force weekly travel reports reproduced in that report disprove the claim made in the e-mail stated at the head of this article: They show Speaker Pelosi making 20 trips between Washington and California in 2007 and 2008, but always on the smaller C-20B and C-37A aircraft, never on the "big fat 200-seat" [sic] C-32 jet the e-mail claims she uses weekly.
 
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Do you realize what a waste of time and resources it is for the CEO of a company to travel by car or train? More populist bull **** from Democrats, the party of idiots.
 
Do you realize what a waste of time and resources it is for the CEO of a company to travel by car or train? More populist bull **** from Democrats, the party of idiots.

If the CEO's time were worth anything they would not have lined up at the government trough for handouts.
 
If the CEO's time were worth anything they would not have lined up at the government trough for handouts.

You're right, they're time is worthless. Companies should just operate without CEOs. You go girl!:golfPower to the people!:applaudDown with the Bourgeoisie!:donkeyflaChange we can believe in! :kitty:
 
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You're right, they're time is worthless. Companies should just operate without CEOs. You go girl!:golfPower to the people!:applaudDown with the Bourgeoisie!:donkeyfla:Change we can believe in! :kitty:

No a CEO's time is not worthless

Just those that couldnt run their business and instead lead the companies they ran into the ground, needing the government to bail them out

Microsoft can buy an Airbus A380 gold plate everything and not get a response from the government (shareholders on the otherhand)

Or Google for that matter

CEO's should not get perks when they are incompetent, leading a company to bankrupcty is not a sign of competence. Losing billions of dollars is more of a sign of incompetence. The time of the incompent is worthless. Best to keep them on a Greyhound bus so that they cant make many more incompetent decisions which cost their shareholders even more money
 
No a CEO's time is not worthless

Just those that couldnt run their business and instead lead the companies they ran into the ground, needing the government to bail them out

Microsoft can buy an Airbus A380 gold plate everything and not get a response from the government (shareholders on the otherhand)

Or Google for that matter

CEO's should not get perks when they are incompetent, leading a company to bankrupcty is not a sign of competence. Losing billions of dollars is more of a sign of incompetence. The time of the incompent is worthless. Best to keep them on a Greyhound bus so that they cant make many more incompetent decisions which cost their shareholders even more money

Yeah get your ass on that Greyhound Benmosche! You suck so much all you do is lose money! If you were a good CEO you could fly anywhere you want on Playboy Airlines but you're not!
 
Yeah get your ass on that Greyhound Benmosche! You suck so much all you do is lose money! If you were a good CEO you could fly anywhere you want on Playboy Airlines but you're not!

glad to see you understand the situation
 
Yeah get your ass on that Greyhound Benmosche! You suck so much all you do is lose money! If you were a good CEO you could fly anywhere you want on Playboy Airlines but you're not!

How much money has AIG taken from the US taxpayer again, over $100 billion I believe.

Has American business changed so much that incompetence is to be rewarded with private jets and multi million dollar severence packages.

Sign me up, I could cause AIG to lose $200 billion dollars I am sure I could make a few trades so idiotic that it would be a sure thing. Do I get to rid in the corporate jet as well.

A CEO who is doing a good job, I have no problem with him/her riding in a corporate jet, A CEO who is no better then a drooling moron losing billions of dollars requiring bailouts, causing untold shareholder financial loss's does not deserve a corporate jet, nor a bonus, nor a severence package
 
How much money has AIG taken from the US taxpayer again, over $100 billion I believe.

Has American business changed so much that incompetence is to be rewarded with private jets and multi million dollar severence packages.

Sign me up, I could cause AIG to lose $200 billion dollars I am sure I could make a few trades so idiotic that it would be a sure thing. Do I get to rid in the corporate jet as well.

A CEO who is doing a good job, I have no problem with him/her riding in a corporate jet, A CEO who is no better then a drooling moron losing billions of dollars requiring bailouts, causing untold shareholder financial loss's does not deserve a corporate jet, nor a bonus, nor a severence package

Yeah flying in airplanes is for rockstars only and AIG totally sucks! You better brown bag it from here on out Benmosche cause taxpayers are totally pissed! I could totally run an insurance company better than him too, and I'd fly around in airplanes all the time because they're so awesome!
 
Yeah flying in airplanes is for rockstars only and AIG totally sucks! You better brown bag it from here on out Benmosche cause taxpayers are totally pissed! I could totally run an insurance company better than him too, and I'd fly around in airplanes all the time because they're so awesome!
:roll: come on, you are better than this..why would you support a ceo having all the perks of the posistion when the company they are in charge of is asking the government for help?
 
Yeah flying in airplanes is for rockstars only and AIG totally sucks! You better brown bag it from here on out Benmosche cause taxpayers are totally pissed! I could totally run an insurance company better than him too, and I'd fly around in airplanes all the time because they're so awesome!

Gee your willingness to reward incompent CEO's is rather strange.

I thought a person with a background ( career in the fin industry) would rather see tightly controlled compensation packages for CEO's (and all employee's for that matter) to ensure a higher rate of return to shareholders. (ie the people you do investing for)
 
What I think is strange is considering business travel by air to be a "perk". I own stocks and I don't want the CEOs traveling by bus around the country when they could be conducting business much more efficiently.

And blaming the guy who came in after AIG's restructuring for all of its problems is a little strange too. Surely with all your whining about how much tax money was lost you know the CEO at the time of the bailout has been fired.
 
What I think is strange is considering business travel by air to be a "perk". I own stocks and I don't want the CEOs traveling by bus around the country when they could be conducting business much more efficiently.

And blaming the guy who came in after AIG's restructuring for all of its problems is a little strange too. Surely with all your whining about how much tax money was lost you know the CEO at the time of the bailout has been fired.

why not teleconference? even if he came in after the company asked for a bailout, don't you think the company should be cutting expenses? don't you think that this is owed to the shareholders?
 
What I think is strange is considering business travel by air to be a "perk". I own stocks and I don't want the CEOs traveling by bus around the country when they could be conducting business much more efficiently.

And blaming the guy who came in after AIG's restructuring for all of its problems is a little strange too. Surely with all your whining about how much tax money was lost you know the CEO at the time of the bailout has been fired.

Depends on why he is travelling

Going to an truely important business meeting, a private jet on which he can continue to do work can be important and usefull, provided the trip is long enough ( at least a few hours of flying


Travelling first class on AA for a short jaunt from NYC to DC or Miami still allows for the CEO of a bankrupt company to work in relative comfort, he will have his laptop, blackberry, etc and be able to review any documents or spreadsheets that he needs to before he gets to where he is going.
 
:roll: come on, you are better than this..why would you support a ceo having all the perks of the posistion when the company they are in charge of is asking the government for help?

It goes even deeper than that. The CEO's ran their companies into the ground with their extravagant lifestyles, on the shareholders' dime, before asking for welfare. As with anyone else who goes on welfare, the government asks "What do we get in return". The poor on welfare have to work (known as workfare in most states). For the CEO's, the government wants to make sure it eventually gets its welfare money back, hence the strings (no more extravagant parties, no Lear jets, etc). And if AIG didn't like the strings that were attached, they should have walked away instead of taking the money. After all, nobody put a gun to their heads and made them take the money. THEY are the ones who came, hat in hand, with their hands out. I don't feel a damn bit sorry for them. They are luckier than most people who mismanage that badly. Those people get fired. Must be nice to manage a company that goes out of its way to recruit and keep such screwups. LOL.
 
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They're not telling the guy to not fly. There's still host of airline companies that would love to take his money.
 
Yeah, don't fly that jet. Let's put even more people out of work.
 
How much money has AIG taken from the US taxpayer again, over $100 billion I believe.

Has American business changed so much that incompetence is to be rewarded with private jets and multi million dollar severence packages.

Sign me up, I could cause AIG to lose $200 billion dollars I am sure I could make a few trades so idiotic that it would be a sure thing. Do I get to rid in the corporate jet as well.

A CEO who is doing a good job, I have no problem with him/her riding in a corporate jet, A CEO who is no better then a drooling moron losing billions of dollars requiring bailouts, causing untold shareholder financial loss's does not deserve a corporate jet, nor a bonus, nor a severence package

By this type of logic, the whole democratic party should be taking the bus.
 
By this type of logic, the whole democratic party should be taking the bus.

And the rebulican party.

Lets not forget who ran the US for the last 8 years before the blow up

I am all for all the elected offficials to be taking the bus to DC from all but Alaska and Ha from their respective districts (or pay for airfare themselves)
 
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And the rebulican party.

Lets not forget who ran the US for the last 8 years before the blow up

I am all for all the elected offficials to be taking the bus to DC from all but Alaska and Ha from their respective districts (or pay for airfare themselves)

Let's not forget who passed the laws that caused the blow up and who was running the show when the blow up started.
 
Let's not forget who passed the laws that caused the blow up and who was running the show when the blow up started.

Shhhhhhh......... it's all Bush's fault.
 
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