Off-Topic: Region's Bank, Corp. Jets

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	Name:	lotowner -
	Subject:	Region's Bank, Corp. Jets
	Date:	6/20/2009 7:13:38 AM

I very strongly think that corporate jets should be available if the corporation can afford them and they can be justified from a business perspective. They should be used for business purposes only. Transporting corporate employees to the different mfg. sites and using them to pick up clients for business purposes are normal uses.

However, giving a CEO free reign to use of the corporate jet even as part of his income is not reasonable. In no instance should the CEO have use of the jet to carry his family to a resort. Fly commercial. What happens when a junior executive needs the jet for a really importaant business mtg. and it is unavailable because the CEO is off on a trip to Europe for snow skiing.

I can remember a time when the CEO and BoD's felt that they had a responsibility to manage the corporation. CEOs were limited to a low value for capital expenditure approvals w/o BoD approval. The BoDs would then only approve major capital expenditures after a thorough study and a vote. Currently, this system appears to have gone astray. BoDs are made up of friends of the CEO and they are part of the executive clubs.

Stock options are enormous for the CEO even though the financial goals were not met. Severance packages are so large that the CEO leaves without any pain. In the past when an employee was terminated for cause, they were walked to the door and someone cleaned their desk out. No severance package was given. How things have changed.