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GE Board Was Kept in the Dark About CEO's Extra Plane
While CEO, Mr. Immelt wanted a backup jet in case there was a mechanical issue that could lead to delays, the people said. Flight crews were told to not openly refer to the backup planes, for fear of raising eyebrows, especially at the small airport facilities for private jets, the people said. One person said the flight manifest sometimes listed "Robert Jeffries" or "Jeffrey Roberts" as the passenger on the second plane, when in fact the seats were empty. (www.foxbusiness.com) Más...Sort type: [Top] [Newest]
I would think a jet could be chartered without a couple of hours if his had a mechanical problem. The fact GE kept it quite is notice enough they knew it was a bad idea.
Or another one from their fleet shouldn't be more than a few hours away. But then he might have to ride with another one of his management team. Couldn't have that!
Using Netjets or other fractional ownership firm would have been a good option for a company as big as GE.
It really comes down to wanting the absolute and total control of the travel almost to the point of paranoia. The practice is still done by many companies and even our 89th Air Lift Wing.
"Unaware of the practice", YEAH RIGHT Immelt. What a liar! Go sit with Harvey Weinstien.
Maybe the Chief thought the GE Engines were unreliable and thought it was a good idea to bring along spares.
Agree with Ric that corporate jet travel can be cost-efficient if well-managed; CEO's need to periodically visit dozens of company sites, attend industry conferences, and much more that Skype can't accomplish. Personal travel is another matter entirely. One Fortune 500 corporation I deal with takes the high road on this... to minimize safety and security issues, their board encourages the CEO to use company equipment for his private travel. But they've executed an SEC Form 8K, publicly detailing the wet lease pricing the CEO must pay the company for that privilege (actually, a time share agreement). Corp gets the security they want, but no free ride for the individual. And a strict no-deadhead rule across the company, for both personal and company travel.