Memo To Corporate Beggars: When Going To Washington To Ask For A Bailout Don’t Take Your Private Jet
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.
“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.
If we give them a bailout they’re going to keep flying around in their private jets.
If we don’t give them a bailout - if we let them go bankrupt - maybe they’ll stop spending money on unnecessary luxuries and start running their businesses like they’re supposed to be run.
