1sunfight’s Weblog

November 20, 2008

Auto Execs Flew to DC on Private Jets to Ask for $25BN Bailout

Some lawmakers lashed out at the CEOs of the Big Three auto companies Wednesday for flying private jets to Washington to request taxpayer bailout money.

“There is a delicious irony in seeing private luxury jets flying into Washington, D.C., and people coming off of them with tin cups in their hand, saying that they’re going to be trimming down and streamlining their businesses,” Rep. Gary Ackerman, D-New York, told the chief executive officers of Ford, Chrysler and General Motors at a hearing of the House Financial Services Committee.

“It’s almost like seeing a guy show up at the soup kitchen in high hat and tuxedo.  It kind of makes you a little bit suspicious.”

He added, “couldn’t you all have downgraded to first class or jet-pooled or something here?  It would have sent a message that you get it.”

The behavior of CEOs in charge of American corporations nowadays is beyond belief.  I am not saying that as hyperbole, I really mean that. Business has evolved to the point that they think they do not have to be careful stewards of manufacturing or financial business, that they are not the ultimate caretakers of their industry and their shareholders investment.  We hold the bag.  We must make good on the greed and avarice.  They get to live the life of an oil sheik.  Gold faucets, silk sheets and hot tubs.  The kind of life that only kings used to live and they need do nothing for this gilded life.  The make the mistakes, we get the cleanup.  We get the responsibility, they get the high life.

CNN

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2 Comments »

  1. And they looked very sheepish wringing their hands and not daring to answer the question. They don’t get it, do they?

    That money should go to future ex-auto-employees wishing to start new small businesses etc.

    Comment by voxappeal — November 20, 2008 @ 2:00 am

  2. Americans make junk for cars. I bought 2 brnad new GM pickups and lsot the tranny for 2 grand and twice the shifter on the column went for another grand a piece, si I had enough. I bought a toyota. The Americans don’t get it. Its quality we want. Thats it.
    Those a-holes deserve to go out of business !!!

    Comment by fullermike — November 22, 2008 @ 8:37 pm


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