The Flight of Excess, Cisco Style

The CEO Of Cisco Bills The Company When He Flies In His Own Private Jet - Yahoo Finance: "Many big tech companies, like HP and IBM, keep fleets of private jets to fly their executives around in convenience, safety and style. But at Cisco, CEO John Chambers works it in reverse.
He owns his own jet and then he sends Cisco a bill when he uses it for work, which he presumably does a lot.
In 2013, he billed Cisco $2.8 million in jet expenses, according to forms filed with the SEC. Unlike car mileage, there doesn't seem to be an IRS standard when reimbursing for your private jet. Chambers just has to make sure that his expense rate isn't higher than what it would cost to hire a private chartered jet.
That's not hard to do. It will cost you $21,000 to charter a 4-passenger plane for an hour to fly from San Jose to L.A. on a JetSuite private charter (non-member rate).
Blogger Brad Reese calculates that since 2009, Chambers has billed Cisco $11.1 million in private jet expenses."

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