Because they Can - 7 Reasons Your Executive Flies Private:
By Martin Chatsworth, EJCS
Want to be an executive? The life sure looks good from the outside. Nearly everything you do at work goes on an expense account, so you can spend your extra millions in salary, bonus, and stock options on the trophy wife and 2nd Malibu home. Sure, you work an 80 hour week, but every meal is a meeting, and there are plenty of fancy restaurants to choose from.
And when you fly? Forget about it! If you're an executive, you've got your own little jet that'll take you anywhere while those pikers in "first class� have to sit there sipping watered down gin and tonics while the poor people parade to their assigned slots.
Not so fast, say the executives. First of all, if your shareholders are voting correctly, the expense is in line with the value. The hero of most executives is Jack Welch, the GE CEO who added $396 Billion in value to his company. If he were a salesman on a 7% commission, then $27.7 billion dollars should go to him. And should he have flown commercial? Probably not. When the hourly wage of an executive is figured (even at 80 hours per week) vs. the value of the exec�s time to the company, a privately chartered aircraft is a real bargain. Consider some of the flight delays you�ve experienced, and ask yourself if a corporate executive (paid by you if you happen to own stock or a 401K) is spending his/her time wisely by hanging out in an airport.
That being said, here are some of the top reasons given to us why our executives prefer to take chartered flights.
1. No fleet to maintain. Some companies still maintain
their own planes and jets, and if your name is a brand (think Trump) then
you have an advantage to keeping your own flying stock. Then again, you
have to feed 2 pilots, a maintenance crew, and rent a hangar that only
gets used when you�re going somewhere.
All in all, executives fly because they can. If you�re jealous, you can
either change your shareholder vote, buy some stock so you can vote, or
become an executive yourself. After all, if you want to change the rules
and live with the same inconveniences as your managers and lower rung
salespeople, you can always lead by example, and let all of your executive
counterparts enjoy their own private pieces of the sky.
Martin Chatsworth can be contacted at email@example.com
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