DETROIT, March 8 (UPI) -- Flights on AT&T corporate jets by the head of General Motors Co. cost the telecommunications firm $20,000 a month, a company report said.
GM Chairman and Chief Executive Officer Edward Whitacre Jr. retired from AT&T with those same two job titles in 2007. As part of a $158 million retirement package, Whitacre is allowed use of AT&T's corporate jets for 10 hours a month. A recent Securities and Exchange Commission filing divulged how much that cost, The Detroit News reported Monday.
Whitacre works in Detroit, but his primary residence is in San Antonio. The perk from his AT&T package allows for two round-trip flights between the two cities per month, the News reported.
Whitacre earns about $1.7 million per year at GM, which gave up its seven corporate jets last year when it filed for bankruptcy.
"If I was an AT&T shareholder or executive, I'd put up a stink about this," said David Lewin, a professor at the Anderson School of Management at the University of California, Los Angeles.
