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IVR
December 4th, 2006, 06:33 PM
Blockbuster CEO Flying Coach?
Author: ERIK GRUENWEDEL
egruenwedel@questex.com
Posted: December 4, 2006
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Cuts to Blockbuster Inc.’s general and administrative (G&A) costs took their toll on a frequent executive perk: The corporate jet.

Dallas-based Big Blue, in a Nov. 29 letter filed with the Securities Exchange Commission from CFO Larry Zine, informed chairman and CEO John Antioco it was amending the executive’s employment contract to allow for privately chartered air travel instead of on the Blockbuster jet. :eek:

Antioco retains a $1,100 monthly car allowance in addition to perquisites “at least as favorable as those provided” to similar executives. :rolleyes:

A company spokesperson confirmed Blockbuster no longer operates a company jet. :D

zooworker
December 4th, 2006, 06:36 PM
I can imagine what kind of car he rides in. Wonder if the perks include free off shore banking.

whorehoppin
December 4th, 2006, 08:19 PM
i would love to meet this guy face-to-face.

Propoxy
December 4th, 2006, 09:11 PM
Oh, please.
privately chartered air travel
is hardly "coach."

I can't believe he had a jet up to this point, though. That's fucked up.

Ridge
December 4th, 2006, 11:53 PM
Oh, please.

is hardly "coach."

I can't believe he had a jet up to this point, though. That's fucked up.

That's corporate America for you. Shortly after K-mart got done filling for bankrupcy, they paid to board of directors a whole lot of money to keep them on. These are the same guys who were running the company when it went bankrupt. So a corporate jet doesn't sound that far off to me. Seriously, if some of the company perks for the higher ups is going, than the company must be in some serious trouble.

SL_600
December 4th, 2006, 11:59 PM
You guys are not getting enough activations to have let this happen. :rolleyes: On the flipside, you guys are converting too many paying customers to the online service. What a vicious cycle. :(

csb
December 5th, 2006, 11:53 AM
That's corporate America for you. It sure is.

Private airlines are how franchisee contact/relations people got around. So that they could rent a car, then take the owner out for lunch on a company credit card just to have a discussion that amounts to "You still have that franchisee store?" "Yup.". But last winter we got an email about how ours "decided" to leave his position.

Angry
December 5th, 2006, 12:03 PM
Wow, he has it pretty rough. Maybe we should all sacrifice that quarter raise to get him back on that Private Jet!

Ridge
December 5th, 2006, 02:46 PM
Wow, he has it pretty rough. Maybe we should all sacrifice that quarter raise to get him back on that Private Jet!

As if we have any choice in the matter

Or maybe we should all go a day without signing any customers up for Total Acess, thus making it so that said customer continues renting movies in store, and spending more money. Sure they may get upset at us now, but they'll be thankful for it later :D

CapitalRadioTwo
December 5th, 2006, 09:04 PM
I feel like I'm watching a commercial for Christian Children's Fund:

"For only 15 Total Access activations a day, you too can help a poor CEO charter his own private jet...."