XO jet CEO on CNBC

[Fozzy]

I am sorry you are such an angry person, Squirrel.

No not angry, he just does not have a retirement.

 

[Secret Squirrel]

I am a very happy guy with a pretty good nest egg going, thanks for your concern.

 

[CALRepublic]

What kind of micromanaging CEO does your company have? Every meeting? It is the CEO's job to sit in his ivory palace figuring out how to screw the little guy so he can get his performance bonus. The only flying I see the CEO's doing for business is going to Washington looking for their bailout money. Then they take their jet to the bahamas where they have their multimillion dollar house which is exempt from US bankruptcy laws.

I disagree with you, a private jet is a business tool, which when not in use for business, can be used for a fisihing trip to the Bahamas....

I'm not going to sit here and argue with, you think whatever you want, its all the same to me. I'm not going to argue with someone I don't know over something I can't control. Life is too short for that.

 

[Secret Squirrel]

Wow, they let all the employees take the plane to the Bahamas? What a forward thinking company. Do they do a rotation type thing? Or do they start in the mail room, then move to the cleaning staff, etc?

 

[cherry20's]

I think its funny that all the planes in the first half are all QS's... I do agree that it is a necessary tool for CEO's. You guys have flown them, there working the whole time! Siegel did another interview on Fox news right before Christmas too. I'll see if I can find that one.

 

[F/O]

Another failed ex-airline CEO who can't manage his way out of a paper bag. Brace yourselves for more furloughs....

 

[hawkerflyer]

The only flying I see the CEO's doing for business is going to Washington looking for their bailout money.

That statement is simply ignorant. There are countless examples of corporate flight departments, large and small, that use their aircraft strictly for business, my employer included. In 2000 hours of flying over 4 and a half years, the number of non-business related trips can be counted on the fingers of one hand. Increased IRS scrutiny is nothing new and our chairman reimbursed the company for all of that flying. The example of the FNT to PIT trip is a perfect example and justification of using corporate aviation.

 

[gret]

That statement is simply ignorant. There are countless examples of corporate flight departments, large and small, that use their aircraft strictly for business, my employer included. In 2000 hours of flying over 4 and a half years, the number of non-business related trips can be counted on the fingers of one hand. Increased IRS scrutiny is nothing new and our chairman reimbursed the company for all of that flying. The example of the FNT to PIT trip is a perfect example and justification of using corporate aviation.

Are you flying Part 91 or Part 135? If Part 91, how can the Chairman pay for the flights legally under the FARs? Time sharing agreement?

 

[hawkerflyer]

Are you flying Part 91 or Part 135? If Part 91, how can the Chairman pay for the flights legally under the FARs? Time sharing agreement?

Part 91. The chairman is the only shareholder of the holding company that owns the aircraft. He reimburses expenses in order to satisfy IRS oversight and tax obligations.

 

[gret]

Be careful. I've been told you can't do these type of payments under Part 91.

 

[DAS at 10/250]

I think its funny that all the planes in the first half are all QS's...

That footage is from a History Channel documentary that primarily featured EJA and RTS. It was probably the first google hit and they ran with it.