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Ford & GM Beg for 25 Billion but use private Jet to attend meeting

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Old Nov 19, 2008 | 02:59 PM
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Ford & GM Beg for 25 Billion but use private Jet to attend meeting

Unbelievable!!!

http://cosmos.bcst.yahoo.com/up/play...p/?cl=10744823

LJS
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Old Nov 19, 2008 | 04:57 PM
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LMFAO...These people just don't get it...what a bunch of ripoff's



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Old Nov 19, 2008 | 05:16 PM
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Here you go:

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.
Even as their companies fail, Ford and GM CEOs continue lavish lifestyles.
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.



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Old Nov 19, 2008 | 05:26 PM
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What did you expect them to do, take a bus?
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Old Nov 19, 2008 | 05:28 PM
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They could have jetpooled at least. It's not like they all weren't going to the same place at the same time.
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Old Nov 19, 2008 | 06:58 PM
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This is a non-issue for me. Should they let their planes sit idle? More of a waste to let the planes sit while the planes are still on the books.
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Old Nov 19, 2008 | 07:01 PM
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It seems to be a big issue on ABC, CNN, and NBC. In 30 minutes this evening I saw a news story on all 3 channels about it. Someone wants this angle pushed hard in the mainstream media. Unions
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Old Nov 19, 2008 | 07:22 PM
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It's an issue for me. It's perception and principle. I'm watching the price of gas at the pump and lowering the thermostat in my home to try and save gas, forcing myself and family to dress in heavier clothes in our own home, and meanwhile a guy begs congress for my tax dollars while flying in burning thousands (?) of dollars in unnecessary fuel??? They don't get it.
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Old Nov 19, 2008 | 07:32 PM
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Originally Posted by 05GT-O.C.D.
It's an issue for me. It's perception and principle. I'm watching the price of gas at the pump and lowering the thermostat in my home to try and save gas, forcing myself and family to dress in heavier clothes in our own home, and meanwhile a guy begs congress for my tax dollars while flying in burning thousands (?) of dollars in unnecessary fuel??? They don't get it.
Then I assume you also have issue with states offering tax abatements to foreign automakers while not offering the same to Detroit. Or our Government not fighting for the same tariff relief on Detroit auto exports as they offer to foreign car imports. "They" aren't the only ones who don't get it, and while two wrongs never make a right, until the Detroit CEOs fly their corporate jets WITH tax payer money I see no real issue.
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Old Nov 19, 2008 | 08:15 PM
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Originally Posted by Evil_Capri
Then I assume you also have issue with states offering tax abatements to foreign automakers while not offering the same to Detroit. Or our Government not fighting for the same tariff relief on Detroit auto exports as they offer to foreign car imports. "They" aren't the only ones who don't get it, and while two wrongs never make a right, until the Detroit CEOs fly their corporate jets WITH tax payer money I see no real issue.
You're exactly correct that two wrongs don't make a right. The tax issue is an entirely separate (and more important) issue that I'd love to discuss, but I'll admit my views aren't typical and would involve completely dismantling our current tax system... but to stay on topic- The CEO's aren't flying w/ tax payer money now, and I don't have a problem with it if they weren't asking for my money. For example, if Jin Honda or Kim Toyota were to hop on corporate jets and fly on a personal vacation, I'd say 'Great, good for them'. That's completely different than when you're asking people to sacrifice for you while you're flaunting poor money management.
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Old Nov 19, 2008 | 09:17 PM
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Originally Posted by MR-STANG
Hey someone has to serve drinks on those planes, they need the work they should have flew the $288.00 round trip like we would have hell Bill Gates would !
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Old Nov 19, 2008 | 09:41 PM
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This is just one more example of the mis-management of especially big companies. Their ways are hard to break even as they are about to loose their entire business. AIG is one big offender and now Ford and GM are to. I think this wouldn't be a problem if they weren't asking for the money they are. They have already recieved 25 billion, even if it was lased with restrictions on what they could use it for, and now they are asking for another 25 billion. Theres a problem there. They need to lower their excessive company spending or they won't last even with another 25 billion.
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Old Nov 19, 2008 | 09:54 PM
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So a bus, then.
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Old Nov 19, 2008 | 09:57 PM
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And are we still talking about the same Congress that has been known to "vote" themselves pay raises during times when the rest of the country was going right down the sh!tter? Are they really in a position to be judging these guys?
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Old Nov 19, 2008 | 10:09 PM
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Not at all. But unfortunately they handle the check books.
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Old Nov 20, 2008 | 04:59 AM
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Originally Posted by 05GT-O.C.D.
You're exactly correct that two wrongs don't make a right. The tax issue is an entirely separate (and more important) issue that I'd love to discuss, but I'll admit my views aren't typical and would involve completely dismantling our current tax system... but to stay on topic- The CEO's aren't flying w/ tax payer money now, and I don't have a problem with it if they weren't asking for my money. For example, if Jin Honda or Kim Toyota were to hop on corporate jets and fly on a personal vacation, I'd say 'Great, good for them'. That's completely different than when you're asking people to sacrifice for you while you're flaunting poor money management.
I understand your point of view and agree to a certain extent for this trip. However, I am willing to give the benefit of the doubt . . . for this particular trip. I have no idea how many people flew on each corporate jet, how much (if any) documentation was carried, what other appointments each had during the day, the breakdown of hourly billing for each, etc.

Not saying it was the smartest thing to do, just willing to be a little less judgmental for this particular trip.
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Old Nov 20, 2008 | 06:30 AM
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Agreed. They're CEOs. That's just the way it works.
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Old Nov 20, 2008 | 09:02 AM
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Originally Posted by zzcoop
What did you expect them to do, take a bus?
exactly. this is just fingerpointing by congress; when congress gives up their kickbacks then they can talk
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Old Nov 20, 2008 | 09:34 AM
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Just horrible visuals/symbolism, regardless of any practical considerations.

Agreed. They're CEOs. That's just the way it works.
And perhaps in some ways, that's the crux of the problem -- that is, the insular, hidebound culture and thinking that goes on with these clowns -- except that it isn't working in a most horrible way. It seems that they feel that once above a certain station in life and business that they are above crass accountability for their actions and appearances -- that's for them to impose on those beneath then and their benighted status.

Yes, if they were flying to Capitol Hill to, rather, regale the gathered Hill members with the successes of their forward thinking and were announcing bold new plans to invest those resultant profits in order to double the CAFE standards in five years, then yes, I'd meet them at the steps of their Lear jets with iced bottles of bubbly to wash down the caviar and prostrate myself across any puddles lest the soles of their Italian shoes get dampened.

That obviously is not the case and they should have all piled into one of their unsold gas-swilling SUVs, split driving chores and gas bills, and slog down like any other common beggar. These captains of industry have, with the aid and abettment of equally hidebound unions, run their leviathan industries into the rocks. They should present themselves and be treated in accordance with the manifold and utter failures they lorded over.
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Old Nov 20, 2008 | 09:43 AM
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this is stupid, doesn't al gore fly around in a private jet? are some people suggesting that they should sell their corporate jets? then that should be the suggestion, not fingerpointing, but lets also not give nancy pelosi anymore free rides back to san francisco every weekend
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