Hedge Fund Blues: Dan Loeb Rents His Jet by the Hour

We've reported on a number of companies (Citigroup, Travelers, Bristol-Myers) that have been looking to unload their expensive corporate jets in recent weeks as the U.S. heads into a deep recession. Dan Loeb, the prickly hedge fund manager best known for castigating CEOs for their profligate spending, demonstrates another path to reducing costs in these challenging economic times: He's renting his plane out to other people. Yes, for $5,800 an hour, you can take 12 of your closest friends for a ride on Loeb's Gulfstream IV-SP, a fact you'll be reminded of every time you look out of the window since the "TP" stamped on the tail reflects the name of his hedge fund, Third Point. (You can contact Key Air if you're interesting in making a reservation.) After the jump, a few photos of the interior and the creamy leather seats where Loeb sits in front of his laptop and drafts those vicious letters of his.

Hedge Fund Blues: Dan Loeb Rents His Jet by the Hour