Employees' car choices don't go unnoticed by their bosses
— -- Is it a wise career move to show up at work in a car that's nicer than the one your boss drives?
Depends on which CEO you ask. Forty-four company leaders responding to an informal USA TODAY survey said they had an opinion on the question, and 26 of them said it was OK to pull into the parking lot driving wheels a cut above. That would fit the image of CEOs as free-market disciples who allow underlings to buy what they want — even if they upstage the boss.
However, 18 advised against it, mostly because it signals irresponsibility and a lack of judgment.
Yet, a few said they go so far as to encourage employees to buy cars out of their league because expensive tastes and debt motivate. "It shows they have goals and ambitions to aspire to, and maybe catch up with," says Dave Young, CEO of mattress manufacturer Vymac, who drives a 12-year-old BMW.
Robert McGovern, CEO of Jobfox.com, drives an '06 BMW. He says he "works" his salesmen by telling them that they deserve a new car. "Go treat yourself to that Beemer you've always wanted," he tells them. (McGovern founded CareerBuilder.com, now jointly owned by Tribune, McClatchy and USA TODAY parent Gannett.)
But Paul Holstein, COO of CableOrganizer.com and an '07 Lexus driver, worries that over-extended workers expose the company to fraud and other risk. "I wonder about an employee's financial maturity if they drive too nice a vehicle. If it's above their means, I question the source of funds and will monitor that employee's work more closely."
"It always makes me laugh when I see some guy drive up in an extremely expensive car he can barely afford," says Richard Hanks, president of Mindshare Technologies, who drives an '02 Toyota.
"They could use a financial adviser. An expensive new car is one of the worst investments one can make," says Jim Holland, CEO of Backcountry.com, who drives an '05 Subaru Outback.
"Nuts, they should be saving for the future," says John Pugh, president of Cortech Engineering, who drives a 2004 Lincoln Navigator.
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