Wednesday, November 19, 2008

The Real Big Three Bankruptcy? Executive Brainpower

Sykes just brought this up...

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.

The CEOs of GM, Ford and Chrysler may have told Congress that they will likely go out of business without a bailout yet that has not stopped them from traveling in style, not even First Class is good enough.

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.

It gets worse.

Alan Mulally hasn’t flown commercial since beginning his stint at Ford. He refused to relocate to Michigan from Detroit, [sic] so his contract with Ford includes the unlimited use of a private jet. He commutes every weekend from Seattle to Detroit for his job.

I suppose that the UAW is behind this, somehow... /sarcasm

As a very smart someone said, "It's the Culture, Stupid!!"

And the Big Three's culture is bankrupt, just like the brain-power of their CEO's.

Don't let the door hit your asses, boys, as you leave the buildings.

1 comment:

asianbadger said...

Probably not the best way to make your case. OTOH, when was the last time Pelosi flew commercial?