I can't believe the over-reaction about auto execs taking private jets to Washington to ask for a bailout. I know it is difficult for the common worker to understand, but there are a lot of very valid reasons why CEOs use private jets.
First and foremost is security. When you have Union goons calling for your head for 50+ years, you need a private jet. These CEOs also have to have around the clock security for them and their families due to constant threats on their lives.
But beyond that, the value of their time demands private jet travel. Now there are news articles of the auto CEOs driving from Detroit to DC. Yea, thats REALLY smart. Lets take what would be a 1 hour flight and turn it into a 3 day trip out of the office when they are needed most.
I understand that private jet travel looks obnoxious in the face of bankruptcy to the average joe, but its necessary. And lets face it, for companies that burn a billion dollars a week, the private jet expense is a drop in the bucket. Decreasing costs .01% by cutting the corporate jet isn't going to make any difference.
Whats next? Complaining about the CEOs big cell phone bill? Let's take that away next. Heck, may as well send him back to the dark ages. That is a BRILLIANT way to save the industry.
Quit worrying about what is politically correct and do what is best for the business. If the average "main street" American cries about it, who cares. The average main street American has probably never left the state he lives in, and he is certainly in no position to know what is and is not a proper business expenditure for a Fortune 500 company. But they see everything on the surface because they don't understand the underlying logic behind expenses like corporate jets. They dont realize that spending money can actually save money. They would rather see the CEOs hitchhiking to DC.
Absolutely ridiculous.DETROIT (AP) - After being skewered by Congress and lampooned on NBC's "Saturday Night Live," the CEOs of Detroit's three automakers may end up making their return trip to Washington by car as they seek a federal bailout.
The Detroit area's auto industry, whose livelihood depends on the health of Chrysler LLC, Ford Motor Co. and General Motors Corp. spent the weekend e-mailing and discussing how to set up a giant car caravan to seek help from Congress.