Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Stock buyback gives GM execs permission to use corporate jets again]]>http://www.autoblog.com/2012/12/20/stock-buyback-gives-gm-execs-permission-to-use-corporate-jets-ag/http://www.autoblog.com/2012/12/20/stock-buyback-gives-gm-execs-permission-to-use-corporate-jets-ag/http://www.autoblog.com/2012/12/20/stock-buyback-gives-gm-execs-permission-to-use-corporate-jets-ag/#commentsFiled under: , ,

Chevrolet jet emblem

General Motors executives are once again certified members of the jet set. As you may recall, one of the concessions made by automakers in accepting government assistance back in 2009 was a requirement to discontinue the use of private jets in lieu of standard commercial airline flights. The issue first reared its head after the three auto CEOs from Detroit flew in private jets to Washington to outline why the industry needed bailout money. Not so smart.

Now that The General has bought 200 million of its own shares back from the government, the private jet restriction has reportedly been lifted. The Wall Street Journal reports that General Motors has no current plans to buy or lease any private jets of its own. That doesn't mean, however, that execs will still be flying the friendly skies using mainstream commercial air travel all the time; it just means any corporate travel must be booked through a private service instead of in-house... for now.

Stock buyback gives GM execs permission to use corporate jets again originally appeared on Autoblog on Thu, 20 Dec 2012 18:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>commercial aircraftgeneral motorsgmgm executivesgm private jetgm stockprivate jetprivate jetsThu, 20 Dec 2012 18:28:00 EST http://www.autoblog.com/feed/20408591/article-comments.xml http://www.autoblog.com/feed/2012/12/20/stock-buyback-gives-gm-execs-permission-to-use-corporate-jets-ag/20408591/article-detail.xml 20408591 http://www.blogcdn.com/www.autoblog.com/media/2012/12/chevy-jet-emblem_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/12/chevy-jet-emblem.jpg <![CDATA[Ford CEO Alan Mulally called out as a tax dodger [w/poll]]]>http://www.autoblog.com/2012/04/13/ford-ceo-alan-mulally-called-out-as-a-tax-dodger-w-poll/http://www.autoblog.com/2012/04/13/ford-ceo-alan-mulally-called-out-as-a-tax-dodger-w-poll/http://www.autoblog.com/2012/04/13/ford-ceo-alan-mulally-called-out-as-a-tax-dodger-w-poll/#commentsFiled under: ,



Remember Jetgate? Back in the pre-bankruptcy days of late 2008, when the Big Three CEO's were traveling to Washington to plead their case for funds, Ford's Alan Mulally, General Motors' then-CEO Rick Wagoner, and Chrysler's former chief Bob Nardelli were publicly chastised for flying in corporate jets to the tune of $20,000 per round trip.

Two years earlier, Ford president Mark Fields became a target of outrage when a Detroit-area TV station discovered that his employment contract included $50,000-$70,000 worth of private jet service per week to ship Fields between Dearborn and his home in Florida.

Now this: The New York Times is reporting that Ford spent spent $178,571 on personal air travel for Mulally last year. While Ford no longer has a fleet of corporate jets, according to the report, it pays a charter service to transport Mulally and his kin. And that's not all. Since this benefit is classified as "security measures," Mulally gets off the hook for paying taxes on it, as he doesn't have to report the benefit as income, according to the Times. Mulally received nearly $30 million in compensation last year, according to other reports.

While Ford refused comment, the article calls out the company for using this "common corporate tax trick" that it says robs the federal government of tax revenue from CEO's like Mulally, meaning that taxpayers are essentially subsidizing his perks.

While the report concerns various corporate executives, it singles out Mulally, suggesting that any potential danger to Ford's CEO has to be less than that posed to Supreme Court Justice Ruth Bader Ginsburg, who flies commercial airlines. The Times also says that former Apple CEO Steve Jobs "received no security services from Apple last year before he died."

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Ford CEO Alan Mulally called out as a tax dodger [w/poll] originally appeared on Autoblog on Fri, 13 Apr 2012 19:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>alan mulallyceo compensationford private jetjetgatemulallymulally private jetprivate jettaxtax dodgingFri, 13 Apr 2012 19:28:00 EST http://www.autoblog.com/feed/20215502/article-comments.xml http://www.autoblog.com/feed/2012/04/13/ford-ceo-alan-mulally-called-out-as-a-tax-dodger-w-poll/20215502/article-detail.xml 20215502 http://www.blogcdn.com/www.autoblog.com/media/2012/04/alan-mulally-opt-1334346356_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/04/alan-mulally-opt-1334346356.jpg <![CDATA[The key to NASCAR competitiveness is... an airplane?]]>http://www.autoblog.com/2010/04/30/the-key-to-nascar-competitiveness-is-an-airplane/http://www.autoblog.com/2010/04/30/the-key-to-nascar-competitiveness-is-an-airplane/http://www.autoblog.com/2010/04/30/the-key-to-nascar-competitiveness-is-an-airplane/#commentsFiled under:



Here's a story you might expect more from Formula 1 than NASCAR: team owners say that you simply can't be competitive in the sport if you don't have a plane to shuttle your crew around. Rick Hendrick, for instance, has three 50-seat regional jets, Joe Gibbs has another three, and Jack Roush has two Boeing 727s. Meanwhile, Formula 1's Jensen Button and Ross Brawn left the Malaysia after the grand prix on commercial flights.

The key is the schedule: NASCAR has races just about every weekend, making every available moment to work on the car an awfully precious one. Having a transportation fleet that can fly crews out the morning of the race, land and get them straight to the garage a few hours before the race, doing so without all those commercial glitches, can make the difference between podium and also-ran. Team owners say they actually save money using the planes, not having to book hotel rooms and pay for food. That means NASCAR has opened the door for us to use "it's thrifty" and "we'll need a private jet" in requests to our bosses from now on...

[Source: Jacksonville.com]

The key to NASCAR competitiveness is... an airplane? originally appeared on Autoblog on Fri, 30 Apr 2010 08:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>nascarprivate jetprivate planesPrivateJetPrivatePlanesFri, 30 Apr 2010 08:01:00 EST http://www.autoblog.com/feed/19459119/article-comments.xml http://www.autoblog.com/feed/2010/04/30/the-key-to-nascar-competitiveness-is-an-airplane/19459119/article-detail.xml 19459119 http://www.blogcdn.com/www.autoblog.com/media/2010/04/boeing-nascar-630_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2010/04/boeing-nascar-630.jpg <![CDATA[BMW teams up with Embraer to trim out corporate jets]]>http://www.autoblog.com/2010/04/20/bmw-teams-up-with-embraer-to-trim-out-corporate-jets/http://www.autoblog.com/2010/04/20/bmw-teams-up-with-embraer-to-trim-out-corporate-jets/http://www.autoblog.com/2010/04/20/bmw-teams-up-with-embraer-to-trim-out-corporate-jets/#commentsFiled under: ,

Embraer Phenom cockpit by BMW - Click above for high-res image gallery

Brazilian aircraft manufacturer Embraer has called upon BMW DesignworksUSA to outfit some of the cabins in its luxury executive jets. The two companies have hopped into bed together in order to learn a thing or two from each other, and as a result, you'll soon be able to step aboard an Embraer Phenom 100 or Phenom 300 with Bavarian-inspired cockpits and cabins. BMW took a hard look at how the typical aircraft interior is constructed and then brought the typical German engineering eye to the equation.

This isn't an airborne 3 Series, though. While both the Phenom 100 and Phenom 300 boast unparalleled cockpit spaces thanks to BMW's touches, the company says the exercise had more to do with the translation of ideals rather than transcribing auto design to the air. Clever storage, unique color choice and high-quality materials found their way into the final product.

Embraer says that it will allow customers to choose one of seven different color schemes. So far, around 100 jets have been produced, with another 600 orders waiting to be filled. Hit the jump to see the full press release, and be sure to check out the flying Bimmer cabins in our high-res gallery below.


Gallery: Embraer BMW Phenom


[Source: BMW]

Continue reading BMW teams up with Embraer to trim out corporate jets

BMW teams up with Embraer to trim out corporate jets originally appeared on Autoblog on Tue, 20 Apr 2010 07:58:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BMWBMW DesignworksUSABmwDesignworksusacorporate jetsCorporateJetsDesignworksUSAEmbraerEmbraer PhenomEmbraer Phenom 100Embraer Phenom 300EmbraerPhenomEmbraerPhenom100EmbraerPhenom300embraierfokkerpersonal aircraftPersonalAircraftPhenom 100Phenom 300Phenom100Phenom300private jetprivate jetsPrivateJetPrivateJetsTue, 20 Apr 2010 07:58:00 EST http://www.autoblog.com/feed/19445513/article-comments.xml http://www.autoblog.com/feed/2010/04/20/bmw-teams-up-with-embraer-to-trim-out-corporate-jets/19445513/article-detail.xml 19445513 http://www.blogcdn.com/www.autoblog.com/media/2010/04/01-jet-630_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2010/04/01-jet-630.jpg <![CDATA[Flying the Not-So-Friendly Skies: Chrysler asks court to cancel corporate jet leases]]>http://www.autoblog.com/2009/05/14/flying-the-not-so-friendly-skies-chrysler-asks-court-to-cancel/http://www.autoblog.com/2009/05/14/flying-the-not-so-friendly-skies-chrysler-asks-court-to-cancel/http://www.autoblog.com/2009/05/14/flying-the-not-so-friendly-skies-chrysler-asks-court-to-cancel/#commentsFiled under: , , ,



Late last year, Rick Wagoner, Bob Nardelli and Alan Mulally each climbed aboard their own company-provided private jets in lieu of commercial flight - or, alternatively, one of their company's own vehicles - to go before Congress and ask for a bailout. In the public eye, at least, that move was - to put it mildly - a mistake.

At least one chapter of the so-called JetGate scandal now appears set to come to a close. Chrysler has reportedly asked its bankruptcy judge to terminate the leases the automaker holds on its $38 million Gulfstream 450 and $55 million Gulfstream 550. Chrysler first leased the jets back in 2007 and subsequently took delivery on January 1, 2008.

A hearing on the issue has been set for June 3, but we wouldn't expect there to be any real holdup. After all, the debtor-in-possession financing that Chrysler received from the U.S. and Canadian governments stipulated that the automaker would give up all corporate aircraft.

[Source: Detroit News | Image: Gulfstream]

Flying the Not-So-Friendly Skies: Chrysler asks court to cancel corporate jet leases originally appeared on Autoblog on Thu, 14 May 2009 11:27:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>chryslerchrysler corporate aircraftchrysler private jetsChryslerCorporateAircraftChryslerPrivateJetscompany jetCompanyJetgulfstreamjetgateprivate jetprivate jetsPrivateJetPrivateJetsThu, 14 May 2009 11:27:00 EST http://www.autoblog.com/feed/1544929/article-comments.xml http://www.autoblog.com/feed/2009/05/14/flying-the-not-so-friendly-skies-chrysler-asks-court-to-cancel/1544929/article-detail.xml 1544929 http://www.blogcdn.com/www.autoblog.com/media/2009/05/gulfstream_g550_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2009/05/gulfstream_g550.jpg <![CDATA[Detroit 3 JetGate fallout puts hurt on private jet industry]]>http://www.autoblog.com/2009/02/17/detroit-3-jetgate-fallout-puts-hurt-on-private-jet-industry/http://www.autoblog.com/2009/02/17/detroit-3-jetgate-fallout-puts-hurt-on-private-jet-industry/http://www.autoblog.com/2009/02/17/detroit-3-jetgate-fallout-puts-hurt-on-private-jet-industry/#commentsFiled under:



Many insiders in the general aviation industry are pondering whether the fateful trip of three CEOs from Detroit to Washington late last year will sound the death knell for private jet travel. Jim Schuster, chief executive of Hawker Beechcraft, says in regards to that trip, "I sat back in my chair and put my hands over my eyes and said, 'Oh, why did they do that? It was terrible, terrible judgment on their part, but I don't think they stopped to think for a minute that people were going to react this way."

Even before the public outrage directed towards Rick Wagoner, Bob Nardelli and Alan Mulally and their flight to visit Congress hoping for a bailout, the sinking global economy was hurting the sales of business aicraft; but afterwards, the industry really tanked, which is a shame. There really are instances when business jet travel makes plenty of sense, such as when traveling to a small market that's not served by commercial airlines or when shuttling dozens of people at a time. The trick, apparently, is knowing when to use private jets and when to leave them docked at the airport - a trick that some execs had obviously failed to learn.

[Source: New York Times]

Detroit 3 JetGate fallout puts hurt on private jet industry originally appeared on Autoblog on Tue, 17 Feb 2009 16:27:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>airlineairline industryAirlineIndustryairlinesgeneral aviationGeneralAviationprivate jetprivate jetsprivate planeprivate planesPrivateJetPrivateJetsPrivatePlanePrivatePlanesTue, 17 Feb 2009 16:27:00 EST http://www.autoblog.com/feed/1462809/article-comments.xml http://www.autoblog.com/feed/2009/02/17/detroit-3-jetgate-fallout-puts-hurt-on-private-jet-industry/1462809/article-detail.xml 1462809 http://www.blogcdn.com/www.autoblog.com/media/2009/02/hawker_beechcraft_580_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2009/02/hawker_beechcraft_580.jpg <![CDATA[Grounded: GM cancels all corporate jet service]]>http://www.autoblog.com/2008/12/02/grounded-gm-cancels-all-corporate-jet-service/http://www.autoblog.com/2008/12/02/grounded-gm-cancels-all-corporate-jet-service/http://www.autoblog.com/2008/12/02/grounded-gm-cancels-all-corporate-jet-service/#commentsFiled under: ,



General Motors has an early New Years Resolution: to be more fiscally responsible when it comes to corporate travel. With six short, direct sentences (see official press release after the jump), GM has declared that its Corporate Aviation Operations are to be shuttered. It might not seem like a big deal on the surface, but there are apparently numerous contractual agreements that need to be reworked to make this a reality. First, the jets themselves need to be returned, sold or transferred to another operator. Next, after January 1st when The General pulls out, the leased facility and grounds at Detroit Metro Airport will be emptied and GM will work with airport officials to find another tenant.

Although GM suggests that the termination of its Aviation Operations is because its travel volume no longer requires its own dedicated corporate service, we're pretty sure that the ribbing Wagoner and his peers took at the hands of Congress over private jet flight had plenty to do with the decision. Expect the announcement to be part of GM's Congress-bound business plan when it's officially announced this week.

[Source: GM]

Continue reading Grounded: GM cancels all corporate jet service

Grounded: GM cancels all corporate jet service originally appeared on Autoblog on Tue, 02 Dec 2008 14:29:00 EST. Please see our terms for use of feeds.

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Bad idea: Detroit 3 CEOs showing up for a Congressional hearing to beg for money in private jets. Good idea: said CEOs showing up at Congress' curb in their respective company's greenest vehicles. Just such a caravan has been proposed by Tim Leuliette, CEO of supplier Dura Automotive Systems Inc., and it's gaining steam. The idea is to highlight how integral the Detroit automakers are to the lives of many who work outside the companies themselves, and to showcase their latest fuel efficient models.

Expect the march to Washington to remain a grassroots effort. Each of the Detroit 3's spokespeople have commented that they are in support of the plan but are not interested in organizing it. It is also highly unlikely that any Detroit 3 CEO would travel to D.C. in the motorcade, as well. To be as effective as possible, some are suggesting that the organizers create a central website with information for those who want to participate like where they should go and when they should be there. Now, if Bob Lutz lead the procession in a Volt mule, that'd send a message. Do it, Bob!

[Source: Automotive News, sub. req'd]

Detroit supplier organizing March of Green Vehicles to Washington originally appeared on Autoblog on Wed, 26 Nov 2008 08:58:00 EST. Please see our terms for use of feeds.

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