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PoliCon
11-19-2008, 01:21 PM
Auto Industry Close to Bankruptcy But They Get Pricey Perk
By BRIAN ROSS and JOSEPH RHEE

November 19, 2008—

The CEOs of the big three automakers flew to the nation's capital yesterday in private luxurious jets to make their case to Washington that the auto industry is running out of cash and needs $25 billion in taxpayer money to avoid bankruptcy.

The CEOs of GM, Ford and Chrysler may have told Congress that they will likely go out of business without a bailout yet that has not stopped them from traveling in style, not even First Class is good enough.

All three CEOs - Rick Wagoner of GM, Alan Mulally of Ford, and Robert Nardelli of Chrysler - exercised their perks Tuesday by flying in corporate jets to DC. Wagoner flew in GM's $36 million luxury aircraft to tell members of Congress that the company is burning through cash, asking for $10-12 billion for GM alone.

"We want to continue the vital role we've played for Americans for the past 100 years, but we can't do it alone," Wagoner told the Senate Banking Committee.

While Wagoner testified, his G4 private jet was parked at Dulles airport. It is just one of a fleet of luxury jets owned by GM that continues to ferry executives around the world despite the company's dire financial straits.

"This is a slap in the face of taxpayers," said Tom Schatz, President of Citizens Against Government Waste. "To come to Washington on a corporate jet, and asking for a hand out is outrageous."

Wagoner's private jet trip to Washington cost his ailing company an estimated $20,000 roundtrip. In comparison, seats on Northwest Airlines flight 2364 from Detroit to Washington were going online for $288 coach and $837 first class.

After the hearing, Wagoner declined to answer questions about his travel.

Ford CEO Mulally's corporate jet is a perk included for both he and his wife as part of his employment contract along with a $28 million salary last year. Mulally actually lives in Seattle, not Detroit. The company jet takes him home and back on weekends. http://abcnews.go.com/print?id=6285739

This is not about needing help - this is about wanting to schluff off responsibility.

M21
11-19-2008, 01:24 PM
Because they needed to immediately return to their posts on the bridge of the Titanic.

Speedy
11-19-2008, 01:37 PM
Hey, if Bono, and Elton JOhn and Madonna can all fly their private jets to concerts held to fight global warming, I see nothing wrong with CEOs flying their own jets to anywhere. When Pelosi lines up at the United Airlines counter to fly coach then she can talk about raising ANYONE's taxes.

PoliCon
11-19-2008, 01:41 PM
if you're going to come hat in hand to my door step to ask for money - you should prolly think about how you present yourself says to me about your need.

Speedy
11-19-2008, 01:45 PM
I would present myself to the government in the exact same way that they present themselves to the taxpayers when begging for money. And would make it a point to point it out if they said anything about it.

NonConformist
11-19-2008, 05:32 PM
I guess they need more money to go to a Posh resort for the week again!

Nubs
11-19-2008, 11:19 PM
WTF - would showing up in sack clthes and ashes been more appropriate???

Should they have chartered a mothballed DC-3 from Willow Run???

FFS

M21
11-19-2008, 11:49 PM
WTF - would showing up in sack clthes and ashes been more appropriate???

Should they have chartered a mothballed DC-3 from Willow Run???

FFS

Business class commercial air might have been a good choice.

PoliCon
11-20-2008, 12:28 AM
Business class commercial air might have been a good choice.Now there you go. Prudence - frugality - common sense. Don't come to me flaunting how you waste money to ask me to pay your bills for you. Bankruptcy is the very best thing that could happen to the big three. We do NOT need to bail out the UAW. They made this mess - let them deal with the repercussions.

enslaved1
11-20-2008, 12:38 PM
WTF - would showing up in sack clthes and ashes been more appropriate???

Should they have chartered a mothballed DC-3 from Willow Run???

FFS

Sounds good to me. At least make it look like you see some of the errors that got you in the mess to begin with.

PoliCon
12-20-2008, 12:25 AM
Just found out from a friend of mine who works for GM - these CEO's are not allowed to fly commerical. Their insurance policies do not allow it.