In sharp contrast to the CEOs of the Big Three automakers, The Wall Street Journal reports that Liz Claiborne (LIZ: sentiment, chart, options) chief William L. McComb is flying commercial to cut costs. According to the report, McComb "flies nearly 200,000 miles a year, all of them on commercial flights, almost always in coach" -- despite his 6-foot frame.

The CEO's predecessor at LIZ, Paul Charron, would occasionally charter planes to transport executives, but McComb is keenly aware that 4 consecutive quarterly losses don't lend themselves to high-class travel. "Every penny counts," he told the Journal, though he admitted that commercial flights are "a huge, built-in waste of time."

McComb's thrifty nature is a pleasant bit of PR for LIZ, which also grabbed headlines today for a less heartwarming reason. Reuters notes that clothing manufacturers, including Liz Claiborne, are trying to push back on retailers that offered deep holiday discounts.

LIZ and its fellow manufacturing companies are trying to avoid taking a collateral hit on seasonal markdowns, which fell as low as 70% at some stores. The 2 groups are scheduled to meet prior to the retail fiscal year-end on January 31 to settle the matter.

As we approach midday, LIZ is down 2.3%. The battered retail issue has plummeted more than 89% year-to-date amid an increasingly unfavorable consumer spending environment.