Vedder Thinking | News Stewart Reifler Quoted in Wall Street Journal
Stewart Reifler, Shareholder and head of the firm’s Executive Compensation practice group in the New York office, was quoted today in the Wall Street Journal article “Corporate Jet Set: Leisure vs. Business.”
The article focuses on whether corporate jet travel is being accurately reported as personal or business by publicly held corporations. This closer scrutiny is a result of SEC rules enacted in 2006, which require companies to disclose personal travel on company planes if the cost exceeds a certain amount.
The problem with these rules, according to experts, is that executives’ personal and business lives are commonly blended together. Mr. Reifler, who represents Fortune 500 companies in all aspects of executive compensation, says that personal travel should be disclosed, but that this can be complicated. Even if executives travel to a vacation destination, he says, “They’re still reviewing papers, looking at their BlackBerrys and talking on the phone. You just can’t compartmentalize these guys’ lives.”