US Air CEO nabbed on drunk driving charge

[cancidas]

most of you will know where i'm coming from when i say this: i don't think that the company's money should be spent to drive doug around. however, i do feel that the company should make sure that he does what needs to be done to turn himself around so that this doesn't become a repeating problem.

[Nonstop2AUH]

Many public companies provide the CEO (and often other senior execs) with an annual allowance for personal transportation, including car service with driver. This is actually less of a perk than a security and liability issue. The amounts vary but are usually published in the proxy statement you get each year as a shareholder, and while I don't know what the deal is at LCC, at many companies the car allowance for the CEO can be in the high 5 figures annually.

I have nothing against Parker, he's a great financial executive, but that's all the more reason he should know that when you run a publicly traded company, especially in an industry that is under the sort of spotlight that the airline business is, and you have prior drunk driving issues, you should use your car allowance to get a driver whenever there is a chance of this sort of thing happening.

[Matt Molnar]

The Smoking Gun:

Parker's Mugshot:

[Matt Molnar]

UPDATE: Parker plead guilty today and was sentenced to serve 24 hours in jail next month.

[Nonstop2AUH]

I wonder if that's standard sentence out there or if he's getting celebrity treatment.

[moose135]

Could be worse, his mug shot could have looked like this...

The Smoking Gun