Towards the end of 2009 General Motors Co. had got rid of its corporate jets, but this has not stopped CEO Edward Whitacre Jr. flying around in one. Thankfully it is not at the expense of GM – well the taxpayer – instead former employer AT&T are footing the bill.
Whitacre has always been a great businessman and set up this nice little perk before he went to work with General Motors last year. This is certainly good news for the automaker – the perk is said to cost the iPhone supplier at least $20,000 each month.
The deal that allows Whitacre 10 hours per month has come under criticism – saying that it should be suspended until he quits as CEO of the Detroit automaker. The Detroit News explains that Whitacre earns around $1.7 million per year with GM, add to that the handshake that he received when he left AT&T, and he is on to a good earner.
GM said that Whitacre does not use the private jet for GM business – and AT&T will not comment what he uses the plane for. The question is does he deserve the use of the private AT&T jet?