Carl Icahn, a major shareholder in Time Warner Inc. has been speaking out against the company’s expenses. He says that the overhead and the perks are outrageous. Corporate overhead includes airplanes used by senior management for business and personal travel. Icahn also points out that Time Warner’s corporate headquarters, at $1.7 billion, is the most expensive office building ever built in New York.
Time Warner executives say that their overhead spending is not out of line when compared to other companies of a similar size.