General Motors Co. dumped its corporate jets last year while in bankruptcy after being berated by lawmakers in late 2008 for flying top executives to Washington to ask for a bailout. But Chairman and CEO Edward Whitacre Jr. still flies private, thanks to a little-known perk negotiated with his former employer, AT&T Corp., before he joined GM in 2009.


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Whitacre, 68, negotiated a lifelong deal with the telecommunications giant before he retired in 2007 with a $158 million package that allows him to fly, free, on AT&T corporate jets for up to 10 hours a month. That's the equivalent of two round-trip flights between his home in San Antonio and his apartment in Detroit. The perk costs AT&T, where Whitacre was chairman and CEO, about $20,000 a month, according to a filing with the U.S. Securities and Exchange Commission. The perk is a potential image problem for AT&T and GM, which was rescued by more than $50 billion in taxpayer money, corporate compensation experts said.

Source: GM CEO Whitacre flying on AT&T jets