Ford & GM Beg for 25 Billion but use private Jet to attend meeting
11/19/08, 02:59 PM
#1
Bullitt Member
Thread Starter
Ford & GM Beg for 25 Billion but use private Jet to attend meeting
11/19/08, 05:16 PM
#3
Bullitt Member
Join Date: February 19, 2008
Posts: 247
Likes: 0
Received 0 Likes
on
0 Posts
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.
___________________
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.
___________________
11/19/08, 07:01 PM
#7
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 
11/19/08, 07:22 PM
#8
I lust for a M24
Join Date: November 6, 2004
Location: Football HOF, Canton OH
Posts: 7,045
Likes: 0
Received 4 Likes
on
4 Posts
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.
11/19/08, 07:32 PM
#9
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.
11/19/08, 08:15 PM
#10
I lust for a M24
Join Date: November 6, 2004
Location: Football HOF, Canton OH
Posts: 7,045
Likes: 0
Received 4 Likes
on
4 Posts
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.
11/19/08, 09:17 PM
#11
they should have flew the $288.00 round trip like we would have hell Bill Gates would !
11/19/08, 09:41 PM
#12
Tasca Super Boss 429 Member
Join Date: September 28, 2007
Location: Midlothian, Va
Posts: 3,758
Likes: 0
Received 1 Like
on
1 Post
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.
11/19/08, 09:57 PM
#14
Mach 1 Member
Join Date: September 22, 2005
Location: Kansas
Posts: 1,327
Likes: 0
Received 0 Likes
on
0 Posts
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?
11/20/08, 04:59 AM
#16
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.
Not saying it was the smartest thing to do, just willing to be a little less judgmental for this particular trip.
11/20/08, 09:02 AM
#18
Mach 1 Member
Join Date: January 31, 2008
Posts: 603
Likes: 0
Received 0 Likes
on
0 Posts
11/20/08, 09:34 AM
#19
Join Date: January 30, 2004
Location: DMV
Posts: 2,980
Likes: 0
Received 0 Likes
on
0 Posts
Just horrible visuals/symbolism, regardless of any practical considerations.
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.
Agreed. They're CEOs. That's just the way it works.
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.
11/20/08, 09:43 AM
#20
Mach 1 Member
Join Date: January 31, 2008
Posts: 603
Likes: 0
Received 0 Likes
on
0 Posts
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