Yes, another great example of why distrust exists between labor and management, not to mention investors. Who is on the board of directors and why aren't they doing their fiduciary duty? G -----Original Message----- From: The Airline List [mailto:AIRLINE@LISTSERV.CUNY.EDU]On Behalf Of Roger James Sent: Wednesday, November 27, 2002 11:35 AM To: AIRLINE@LISTSERV.CUNY.EDU Subject: ATA lists yacht among its expenses ATA lists yacht among its expenses American Trans Air disclosed in a federal filing that it is paying $269,000 annually for the five-person crew of a yacht owned by the company's chief executive. The voluntary disclosure about the yacht, used primarily to entertain ATA's clients and business partners, comes as the Indianapolis-based airline continues a cost-cutting campaign that has included hundreds of layoffs. The 125-foot yacht is owned by CEO George Mikelsons, who founded the airline. Previously, Mikelsons paid for all yacht expenses, including the boat's crew and maintenance. The avid boater said he has been using his boats for business purposes for years, and, until now, had never sought company reimbursement. "I started to scratch my head and said, `This is ridiculous,'" Mikelsons told The Indianapolis Star. "I'm entertaining ATA's customers, but at the end of the year, there isn't enough money in my bank account (to pay for boating expenses)."