Big Three CEOs Flew Private Jets to Plead for Public Funds

[HBF]

Big Three CEOs Flew Private Jets to Plead for Public Funds
Auto Industry Close to Bankruptcy But They Get Pricey Perk
By BRIAN ROSS and JOSEPH RHEE
November 19, 2008

GM CEO Rick Wagoner flew on this company jet to
a hearing in Washington earlier this month at an
estimated cost of $20,000.
(ABC)


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.

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.

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.

After the hearing, Wagoner declined to answer questions about his travel.

ABC News: Big Three CEOs Flew Private Jets to Plead for Public Funds

[egambino]

They need to be sent Greyhound schedules. To me this shows they don't need the bailout, they can't even trim back on the damn perks!

[Dirtball]

Before any bailout of any business , banks and all.They should remove the golden parachutes these CEO's have in place.If the CEO's running the companys can't give up anything then they need to close their doors.Trouble is the workers are gonna be the ones that get hurt the most.Why can't American automakers make a car that holds up like some of the foreign cars they cry about. Build a better car and We will buy them.

[LOAD AND PARK CHARLIE]

They will indeed take the money and run. They should have to submit a business plan for the restructuring of the company, before they get one red cent.To often, big corps screw over their employee's, while jumping with the old standby golden parachute...

[dc428]

Here's an idea: if they lower the price of their grossly overpriced vehicles we could all afford a new car or truck. Then they might be able to make a profit and wouldn't need bailed out.

[LOAD AND PARK CHARLIE]

There are many reasons, that GM,FORD, AND CHRYSLER are in the mess they're in right now. Every company in the U.S. is trying to think of a method of getting a hold of some of the big bailout cash.

After 2009 is over, we are going to see alot of union members out of jobs. It sickens me, that for every single corporate scumbag that looses their job, several thousand blue collar workers also loose theirs.

The level of greed that has been embraced this past year, has been nothing short of horrible. I don't see a fix for this mess for along time.
I only hope, all of us Teamsters can ride out the downturn. Good luck to everybody.

I'm also glad we have a place here to discuss these issues. This place is great, made great by the men and women posting here.I'm proud to be a member of this forum.