Monday, October 23, 2006

If you like reading about corporate America ...

Here is a blog maintained by Michelle Leder called Interesting posts all around with the latest about timesharing about the corporate jet at GE. All the interesting stuff that they leave out of the management text books.
Earlier this week, General Electric (GE) filed this 8-K which seems to have further tweaked the corporate jet policy for top executives. As the filing notes, it entered into a time-share agreement with Vice Chairman Lloyd Trotter that requires him to pay for actual expenses of each specific flight to the maximum extent permitted under Federal Aviation Administration rules, which expenses include and are limited to: (a) fuel, oil, lubricants and other additives; (b) travel expenses of the crew, including food, lodging and ground transportation; (c) hangar and tie down costs away from the aircraft’s base of operation; (d) insurance obtained for the specific flight; (e) landing fees, airport taxes and similar assessments; (f) customs, foreign permit and similar fees directly related to the flight; (g) in-flight food and beverages; (h) passenger ground transportation; (i) flight planning and weather contract services; and (j) an additional charge equal to one hundred percent (100%) of the expenses listed in clause (a) above.


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