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Executive perks - let your imagination soar

News that the chief executives of some AIM-listed companies are paid more each year than the total value of the companies they run inevitably reopens the fat cats debate.

A380

One financial services outfit handed its boss £3 million, even though pre-tax profits were £613,932 last year and its market capitalisation is just £2 million.

Quite honestly, though, it doesn't look as though they are really trying. Why, only weeks ago, we were reporting on this blog how some senior managers in the US were demanding – and getting – personal use of the corporate jet for the school run.

And one only has to look elsewhere in today's papers to see that even that has now been trumped.

Step forward Saudi businessman and investor Prince Alwaleed bin Talal, who has shaken the loose change out of his £9.8 billion fortune to buy a brand new Airbus A380 superjumbo – promptly dubbed a "flying palace".

Ordinarily, the 73-metre long jet, priced at £160 million, can accommodate some 850 passengers. But the prince, who made most of his cash from his stake in Citibank, will be able to customise it to include a boardroom, gym or even a swimming pool if he wants.

And what a relief that must be for the prince. After all, the 747-400 he currently uses for the daily commute must be a real drag.

Mark Crail | |

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