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View Diary: Obama Admin to Citigroup: "No Plane for You!"(UPDATED X3) (347 comments)

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  •  One step at a time. (16+ / 0-)

    Today, no jet.  Tomorrow, more regulations.

    If nothing else, this should send a signal to other companies not to try something so stupid.  And, that Obama ain't afraid to step in.

    "Waterboarding is torture." Actually said by an Attorney General nominee. Finally.

    by My mom is my hero on Tue Jan 27, 2009 at 08:49:30 AM PST

    [ Parent ]

    •  True to a certain extent, and if it is the (1+ / 0-)
      Recommended by:
      My mom is my hero

      beginning of some major shift in policy where people are held accountable, then let me admit I'm too fired up but let me give you a quick calculation. If 12 executives need to travel last minute 10 times in a month, the cost of doing so first class would be 1.5 million, with no resale value, which we all know these people aren't flying coach. The net benefit to us is so miniimal, but just looks good on paper, because it's not like they'll stop booking last minute, first class flights, not are they going to pass the new savings down to employees unless forced to. i would rather see that be where step are taking, the jet doesn't do much for me.

      •  True. (3+ / 0-)
        Recommended by:
        jj32, mamamedusa, Nicci August

        However, they'll at least be using commercial jets that, in turn, provide money to the airline and might keep some pilots and flight attendents in their jobs.  :)

        "Waterboarding is torture." Actually said by an Attorney General nominee. Finally.

        by My mom is my hero on Tue Jan 27, 2009 at 09:09:17 AM PST

        [ Parent ]

        •  And as to that (1+ / 0-)
          Recommended by:
          FishBiscuit

          Why CAN'T they fly coach? There's a little more privacy and comfort in first class, but nowhere near better enough to justify the cost. And frankly, I don't care about some CEO's creature comforts. A plane ride gets you from Point A to Point B; it's not the destination itself and there's no business reason for it to be cushy and comfy. If the rest of us have to eat mac and cheese and take the bus or walk to the unemployment office or move in with relatives, go without health care, or give up vacations, etc., because of the effects of the economic crisis (and WITHOUT government bailouts), then the least they can do is cut back on their perks, at least until the companies' bottom lines improve beyond the need for taxpayer assistance. Many ordinary joes would love to be able to afford a single coach class plane ride with all its discomfort and attendant hassles, but they can't. I wouldn't expect executives or lower-level business employees to forgo plane travel at all. That would hamper their ability to do business (although there are probably ways to at least cut back some on the actual travel through videoconferencing, etc.). And sometimes you have to be somewhere too quickly for trains or buses or cars to be feasible. But they can damn well take the cheapest form of the most convenient travel source if they're going to take our hard-earned dollars.

          I agree with Dog Chains to some extent, in that sometimes what looks symbolically to be the worst form of excess might really not be (the cost of buying a corporate jet vs. the cost of all those individual last-minute 1st-class plane tickets) but I wonder how much of what we've come to expect and accept as the normal way to do business is really necessary or just convenient and customary, and maybe it's time for these companies to think outside the box in ways other than screwing consumers (they're real creative on that front).

          I will say that the corporate jet doesn't offend me nearly as much as the million-dollar office, the hundreds of millions for such nonsense as stadium naming rights, the BILLIONS in bonuses and all the chicanery and dancing through the loopholes in previous TARP legislation. That kind of crap is like a thumb in the eye to us taxpayer suckers. And of all the businesses in this country, I have the least amount of sympathy for the financial and insurance industry, which has gotten fat and sassy through gouging the public with their fees and overcharges and manipulations. Their executives can't be humbled enough, in my opinion. They certainly haven't shown their customers much sympathy over the years.

      •  Maybe they need to look for alternatives (0+ / 0-)

        Maybe they can't afford to go travelling 10 times a month anymore. It's the digital age, let them teleconference.

        Not good enough?? OK, give back their TARP money. They need to fundamentally alter how they are doing business to be more frugal if they need a bailout.

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