On Nov, 21, amid the hoopla over Detroit's CEOs using corporate jets, ABC News reported that General Motors leased seven jets at the beginning of 2008, dropped two in September and will drop two more at the end of the year.  Now I guess they'll all be gone.  Believe me, I'm not against CEOs using corporate jets, but isn't seven a little excessive for a company that's circling the drain?  It's not like business was really great back in January.  apparently they thought GM was still America's premier manufacturer when, in fact, GM has been on the road to bankruptcy for years.

By Richard Randall and reprinted here by permission from the Central Penn Business Journal www.centralpennbusiness.com

In the world of public corporations, the declines we’re seeing in many industries prompt immediate reactions.  Contingency plans are triggered at pre-arranged percentage decreases in orders, revenue or income.  Actions are taken quickly to protect quarterly results and the all-important share price.  I believe private companies should have contingency plans too, based on the owners’ needs to sustain their business through tough times.  But there is no doubt that private-business owners have more flexibility than corporate managers and should use it to their advantage.

By Richard Randall and reprinted here by permission from the Central Penn Business Journal www.centralpennbusiness.com