GM execs can use corporate jets again
Under its bailout terms, GM was banned from owning corporate jets. Now that U.S. government has announced its selling its remaining GM shares, that ban will be lifted.
And a final note on today's story about the government selling its remaining shares in General Motors.
One of the terms of GM's federal bailout was a ban on GM owning corporate jets. That ban will now be lifted, apparently. But GM execs says they're in no rush to buy any fancy new planes.
And for good reason: The Big Three automakers got slammed back in 2008 when they used them to fly their CEOs to Washington to beg for government loans.
And since all that bad press? Sales of new business jets have fallen by a third. Coincidence?