Consider retiree use of corporate jets, now a common perk. Although the marginal cost of allowing a retired executive to use the company jet may appear limited, it can run quite high. Consider the use of a company plane for a flight from New York to California and then back several days later. Because the New York-based aircraft and flight crew will return to the East Coast after dropping the retired exec off, the actual charge to the company is two round trips: a total of eight takeoffs and landings and approximately 20 hours of flying time, most likely costing—from fuel, maintenance, landing fees, extra pilot and crew fees and incidentals, and depreciation (an aircraft's operating life is reduced for every hour it flies and more importantly, for every takeoff and landing)—at least $50,000.Bebchuk and Fried, Pay Without Performance (2004),[47.] p.108
