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Wednesday, November 19, 2008


Memo To Corporate Beggars: When Going To Washington To Ask For A Bailout Don’t Take Your Private Jet

Jeez…

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.

Does this tick you off? Click here to email your elected representatives right here on Say Anything, or comment below.

Comments

These are busy guys and I could see it being cost/benefit wise being efficient to fly a small jet (or even a turbo prop).  (Saving time/being able to prepare for your testimony.)

However flying in a 36 million dollar luxury yacht is outrageous.


1% of Americans pay 40% of the income tax.
5% of Americans pay 60% of the income tax.
10% of Americans pay 70% of the income tax.


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The Whistler on November 19, 2008 at 08:03 am
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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.

Sheesh! You’d think they could have carpooled!
( jetpooled? )


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Proof on November 19, 2008 at 08:10 am

I saw a television show about a year ago that showed the way Wall Street bankers lived. It was so opulent and ridiculous at best! As taxpayers we should be able to Vote on bailouts or not! I say no thank you, and especially if you are taking your private jet when asking!

Zsa Zsa on November 19, 2008 at 09:01 am
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I say get ready for coach, baby! It will do wonders for their humility. They can then feel like all the workers at their plants, for a change. Maybe if they don’t care for it, they can work to get the jets back.

di butler on November 19, 2008 at 10:02 am
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They should have driven to DC, it would have been a great pr move and let’s face it, they are in the business of selling cars.

EL Rider on November 19, 2008 at 11:13 am

In a Prius?


1% of Americans pay 40% of the income tax.
5% of Americans pay 60% of the income tax.
10% of Americans pay 70% of the income tax.


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The Whistler on November 19, 2008 at 11:43 am
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I guess Ford’s CEO showed up in DC in a Ford Fusion (hybrid).  Ford sent out all sorts of press releases about it.

But that’s hollow symbolism when you get out of your luxury private jet into a hybrid.


The purpose of government shouldn’t be to do good, but simply to refrain from doing evil.

Rob on November 19, 2008 at 11:46 am

The crazy thing is that I’m pretty sure that there is service to DC every few hours from Detroit.  It’s not like the private jets were needed here.

My former boss’ advice (per Buffett); never buy stock in a company that owns aircraft.

Bike Bubba on November 19, 2008 at 12:04 pm
Avatar for Jerry

Rick Wagoner of GM, Alan Mulally of Ford, and Robert Nardelli of Chrysler need to be replaced, as the first step in these companies Chapter 11 BKs.
The stupidity alone, of not realizing how this would “Look” is reason enough to question their fitness to lead the Auto Industry.
In this executive culture they share, it’s simply no wonder they are in so much financial trouble.

Jerry on November 19, 2008 at 01:31 pm
Avatar for di butler

Price of ticket from M to DC-coach-$200.00, first class $750.00 round trip. Cost for the jet ride-$20,000.

di butler on November 19, 2008 at 11:58 pm
Avatar for mmie

We live in the information age. They couldn’t telecommute?

Sure, time is money. But is the time of these 3 momos really worth that much?

mmie on November 20, 2008 at 01:58 am
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