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	Name:	lotowner -
	Subject:	Region's Bank, Corp. Jets
	Date:	6/19/2009 3:34:18 PM

Corporation's BoD's and CEO's continue to demonstrate incompetence in managing corporate assets. Corporate jets should be restricted for company business only. Taking the CEO and his family to a plush resort on two company jets is clearly an abuse of power and indicates that the problems that got us into this mess are still present. Change will not occur until the CEO's in power when the crisis happened are dismissed with ZERO severance packages and replaced.

Some bailout banks, including Regions, hold on to jet perks

Posted by Staff, Wire Reports June 19, 2009 10:22 AM

NEW YORK -- A number of executives of banks that received federal bailout money have continued to use corporate jets for personal use despite controversy over such perks, according to a report today.

The Wall Street Journal said flight records show that executives at Birmingham-based Regions Financial Corp., Bank of America Corp., Morgan Stanley and Citigroup Inc. had used corporate jets for personal use throughout the financial crisis. The Journal reviewed Federal Aviation Administration flight records of 14 federally aided banks that register planes in their own names.

Regions received $3.5 billion from the Treasury Department's Troubled Asset Relief Program on Nov. 14.

Twelve days later, according to the Wall Street Journal report, two Regions jets left Birmingham within minutes of each other, bound for a small airport in West Virginia.

The destination was the historic Greenbrier resort, where Regions' chief executive Dowd Ritter and his family spent four nights over the Thanksgiving holiday, according to the Journal, which cited a person familiar with his accommodations.

The round-trip flights cost the bank about $17,700, according to a calculation by a consulting firm, Conklin & de Decker Aviation Information, the paper said.