Big 3 Come Begging...in PRIVATE JETS - Plants Close, Jets Stay

[ksimons]

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. GM's Rick 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.

"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.

Wagoner's G4 private jet 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."

After the hearing, Wagoner declined to answer questions about his travel. GM and Ford say that it is a corporate decision to have their CEOs fly on private jets and that is non-negotiable, even as the companies say they are running out of cash.


_________ hey CEOs: perhaps the bailout is non-negotiable too ______________



from ABC article By BRIAN ROSS and JOSEPH RHEE November 19, 2008
http://abcnews.go.com/Blotter/WallStreet/story?id=6285739&page=1

[napi21]

1. I just saw a clip of the hearing on MSNBC, One of the Congressmen

asked for "a show of hands from anyone of you who flew here on a non-commercial jet?" Let the record show there were no hands raised!

Then the same Congressman ssked for "a show of hands from anyone who is willing to sell their private jet IN PLACE and fly home via a commercial flight?" Let the record show there were no hands.

Sorry, I have the TV on in background and didn't see who asked the questions, but I was proud of him whoever it was!

[ksimons]

2. wow - what a moment.... amazing nt

[DavidDvorkin]

3. Jeez, you can't expect them to travel commercially, pressed in with the rabble

They're our modern aristos.

Which suggests images of lampposts, but that won't happen.

[Doughboy71]

4. Most would say let them fail...

But who is going to make the tanks and heavy machinery the U.S. Military needs in time of war if there is ever another global war? Or if the U.S. has to fight a war on our doorstep? The $25 billion they want is a better investment than the billions being spent in Iraq.

[Blue_in_Mass]

5. You make a great point, Doughboy71

The worst mistake that the U.S. government can do is to get rid of its industrial manufacturing capacity/base. Whenever you run into people that tell you that "jobs will be created in the service sector," or whatnot, remind them of this: That flipping burgers, answering phones, and so on, doesn't in any way preserve our national ability to stand on our own.

Europe is not a friend of ours.

[natrat]

6. please, what a distraction...where is paulson's 2 $trillion-seems a little more important