Monday, January 25, 2010
This is interesting. AIG has restricted the use of corporate aircraft among its top executives. Isn't it a little late for a symbolic gesture such as this? In fact, it is a year past due. It has long been the case that when companies get in trouble, they put their corporate aircraft up for sale or for sale-leaseback so they don't have them on the books. Almost always, they end up using corporate aircraft again because airlines don't go to where executives need to go nor at times executives need to fly. AIG's well publicized troubles aren't helped much by this notice. Critics will ask why it wasn't done sooner.