It never went anywhere, one has to be very naive & gullible to think that bloodlines which ruled the world for thousands of years simply dissapeared.
Let me suggest an alternative for all those explaining how corporate jets are econmically justifiable for senior executives. What I suggest is that the salaries of these PROVEN INCOMPETENTS come DOWN to the point where it makes economic sense for them to fly scheduled airlines.
I find it amusing that executives feel as if they need a corporate jet at all. Especially when the company is sinking under its own pile of shit and cannot make a penny. I don't know why you have such bias or love for corporate executives. Maybe you're an executive compensation lawyer, an admin to an exec, or just a corporate drone suck up. The fact is that Citibank is barely holding on while taking BILLIONS of taxpayer money. If it was just shareholder money, then that is the shareholders' problems and their stupidity to give capital to be wasted. But this is taxpayer money we are speaking about, which was committed AGAINST the taxpayer opinion and now being wasted on luxuries.
They are still there, granted, but have a fraction of the power and influence that they once had and their influence was superceded by newer industrial and later financial fortunes. Also, through the centuries dynasties rose and fell and faded away. The ones that trace their lineage back to the Norman conquest in the UK are surprisingly few in relation to the dukedoms dished out by William. The UK is full of families that used to mean something and have yet to realise that they no longer do, it is the financier whose roots are in some toilet in eastern europe who is the one donating the school library these days.
I state something factual which is the critics have no evidence to comment one way or the other(including me) and of course that makes me a biased corporate exec defender, priceless
You did not state anything factual, you simply implied that corporate jets are a necessity and anyone who critisizes has no clue. Common sense tells you that corporate private jets are a luxury, and really, are just another way for the top executives to suck money out of the corporation. In the case that it is very very time sensitive, a private jet can be rented. In the age of technology, face to face meeting are not required, video conferencing is actually quite popular. Provide one argument that corporate jets are a necessity. Especially for a failed firm like Citibank. The crux of the matter is that it is TAXPAYER MONEY. Not shareholder money. Shareholders have an option to dump the stock and refuse to support such activities at whim. Taxpayers don't.
Warren buffett is know for criticizing CEOs and corporate excesses. the man doesnt take a bonus, compensation and gets paid $100k a year even though he is worth $40b. Yet he had a jet for a number of years. Sorry you were wrong
Is this an argument? Buffet runs (well ran) a profitable company and had a stake in it. He also let his investors know that he will buy their stock anytime. He built that company, and if building that company involved him having a jet, then he might as well have it. If the shareholders did not like him having a corporate jet, they can sell the stock. You are trying to defend a failed company that is being bailed out by the people's money, while these crooks waste it on corporate jets, bonuses & perks. You seem to have a problem with the concept of TAXPAYER, apparently, you don't have income, hence don't care as it does not affect you. I know it's a very tough to understand or accept this. No Citibank exec thinks that the firm will make it out of this. At best, it will be eaten up by a bank or be nationalized. They are just milking the taxpayer funds as fast as they can.