Blockbuster CEO Flying Coach?4 Dec, 2006 By: Erik Gruenwedel
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.
Antioco retains a $1,100 monthly car allowance in addition to perquisites “at least as favorable as those provided” to similar executives.
A company spokesperson confirmed Blockbuster no longer operates a company jet.