GM Wants to Jettison Infamous Corporate Jets

The incident helped stir a hornets’ nest, making the auto execs a symbol of out-of-touch corporate bigwigs.

Now in Chapter 11 bankruptcy, GM has the perfect excuse to cut off its corporate jets. Today, the company asked its bankruptcy judge to let it terminate the leases at once, which would allow the automaker to surrender the jets.

GM says this is the wish of the creditors who leased the company the jets. Whether this buys them any goodwill with GM’s new owners (you and me) remains to be seen.

GM Bailing Out of Its Corporate Jets – Yes, Those Jets (WSJ)