Planes, pain and auto executivesDavid Welch
With all of the hoo-hah over corporate aircraft flying about, let’s take a look at the cost. It does add up to some big bucks. Big companies have to report the price tag for the corporate planes and other perks that they give to their executives. Last year, Ford CEO Alan Mulally racked up $752,000 for use of the corporate plane, which his family also gets to use to ferry back and forth from their home in Seattle, according to Ford’s proxy statement. Last year, Mulally’s perks that fall under “perquisites and other personally benefits” added up to almost $1 million. Mark Fields, Ford’s executive vice president-Americas, spent a comparably little $29,000 flying commercial aircraft to his home in Florida. And by the way, last year Ford paid almost $300,000 to Pentastar Aviation for corporate use. That company is owned by Edsel B. Ford II, Chairman Bill Ford’s cousin and a board member.
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