3 ms·
yes it's clickbait-y, but it also seems a bit like it's burying the lede with the fact that the CEO is self dealing on top of it. > Canoo reimburses Aquila Fam
by Powdering7082 3y ago
yes it's clickbait-y, but it also seems a bit like it's burying the lede with the fact that the CEO is self dealing on top of it.
> Canoo reimburses Aquila Family Ventures, an entity owned by the CEO, for use of an aircraft.
- Solvency 3y agoImagine if all salaried employees working from an office created a personal LLC to own their car, and then had their work compensate them by reimbursing each employees LLC. Would that pass muster?
- wongarsu 3y agoIf it's cheaper for the company than leasing or renting cars somewhere else, why not? Presumably you hire the employee for their time and expertise, not because they own a car and offer its use for company travel below market rate. (That does happen in many industries, but that's a market distortion we should look down on, not a yardstick for what's right)
- bombcar 3y agoThe difference is it's usually not "worth it" to break it out in the case of an employee (the advantage is the other way, where the company buys a car and lets the employee drive it, and ignores personal use). With $2m on the line, it is worth it even just for the tax savings.