公司商务机开销最大的CEO.docx

公司商务机开销最大的CEO

Manychiefexecutivestakeadvantageoftheirrightstothecompanyjet.Whowouldn’twanttheirveryownairbornesteedattheready?Butshouldshareholdersbefootingthebill?

Since2008,thisparticularperkhasbeenoneofthemostcloselyexaminedandwidelycriticized.Thethreemostcommonreasonsgivenbycompaniesforpersonaluseofthecorporatejetare:executivesecurity,boardmandate,and,quitesimply,convenience.

HowmanybigcorporateCEOsactuallygetaccesstothecompanyjet?PayresearchcompanyEquilarrecentlyfoundthatofthe95publicFortune100companies,65CEOswereeithereligiblefororreceivedsomeformofjetperk.EquilarnotedthattwoCEOswhodidnothavetheperkwererunningairlines,wherecomplimentaryairtravelistypicallyprovidedtoallemployees.Theaverageannualcostoftheperk,atleastatthecompaniesthatdisclosedthefigures,was$141,187,whichtypicallyrepresentedabouttwo-fifthsoftotalperkspending.

So,whichCEOsmakethemostoftheirjetperks?ThefivemostexpensiveCEOstoflyaroundwereBrianMoynihanatBankofAmericaBAC-1.39%,JamesMcNerneyatBoeingBA-1.19%,JeffreyImmeltatGeneralElectricGE-0.85%,RobertIgeratDisneyDIS-1.05%,andRyanLanceatConocoPhillipsCOP-0.43%.

BankofAmericaCEOBrianMoynihan’sjettingaroundcostthecompany

$448,251in2013.SpokespersonLawrenceGraysonsaidthatMoynihanreimbursesthecompanyforpersonaluseoftheaircraft.So,wheredidthis

almosthalfamilliondollarscomefrom?GraysonexplainedthattheSEChasabroaderviewofpersonalusagethan,say,theIRS.So,forexample,ifMoynihanfliestoCaliforniaonbusinessandthenthejetmustreturntothebank’sNorthCarolinaheadquarterstoflyanotherexecutiveonbusinesselsewhere,thatreturnflightcostisattributedtoMoynihan.WhileMoynihandoesusethecorporatejetforpersonaltravel,noneofthosecostsisdisclosedbecausehepaysforthem