Status symbol's Demise leaves vacuum at top. (Commentary).

THE joint decision by British Airways Plc and Air France SA to retire the Concorde, the world's only supersonic passenger jet, merits an historical footnote.

As a machine for getting from place to place, the Concorde was never much good. True, it was fast. It was also cramped, stuffy, noisy and increasingly prone to breakdowns.

The Concorde was less a plane than a status symbol with wings. The French and. British governments that paid to build it aspired to overcome U.S. domination of the aerospace industry.

Concorde passengers paying $13,500 for a Paris-to-New York round trip tried to show they had joined one of the few clubs left that was genuinely exclusive.

A seat on the plane allowed travelers to prove they could afford the fare. More subtly, it gave them the chance to say that their time was so valuable they couldn't possibly spend it suspended 30,000 feet in the air munching peanuts and worrying about turbulence with the rest of us.

Now the plane has been removed from service. Former customers will still cross the Atlantic. But it creates a quandary. What will rich business people do now to show each other how important they am?

Shallow, vain, egotistical, tasteless people with money still need to impress. The trouble is, even with a slowdown in growth, luxury turns into a:commodity quickly.

Giorgio Armani SpA outlets proliferate alongside those of Gap Inc. Platinum cards mean little anymore.

Business executives looking to cut a swath must come up with fresh twists on conspicuous consumption or risk looking like yesterday's hotshots. This requires imagination. Spending money on mind-bogglingly expensive items is not a task for the faint-hearted these days.

As a public service to the rich, this column has come up with some suggestions. Notions of taste, modesty, decorum and public decency will be suspended for the next few minutes.

First, buy one or perhaps matching ultra-expensive cars. DaimlerChrysler AG has just introduced the Maybach. List price: $360,000.

Two, indulge in extreme sports. Dennis Tito, the American businessman, set the precedent when he paid $20 million for a six-day trip on the International Space Station. Take the kids for the weekend -- weightlessness is great for keeping toddlers amused -- then climb Everest or get someone to haul you to the North Pole.

Three, throw a party. Philip Green, the British retail entrepreneur, spent a reported $7.8 million on his 50th birthday toga party. Guests were flown to Cyprus to be entertained by Tom Jones.

Four, date a celebrity. Pretty, famous women have a fondness for wealthy men. Same goes for pretty men and rich women. Celebrity is the most prized commodity of our times.

None of these ideas appeal? Well then, take a leaf from the book of Sir Richard Branson, creator of the Virgin group of companies. He says he's interested in buying a mothballed Concorde. Do that, too, and fly several hundred of your closest friends across the Atlantic just for the hell of it.

Matthew Lynn is a columnist for Bloomberg News.