Big Three auto CEOs flew private jets to ask for taxpayer money

"There is a delicious irony in seeing private luxury jets flying into Washington, D.C., and people coming off of them with tin cups in their hand, saying that they're going to be trimming down and streamlining their businesses," Rep. Gary Ackerman, D-New York, told the chief executive officers of Ford, Chrysler and General Motors at a hearing of the House Financial Services Committee.

"It's almost like seeing a guy show up at the soup kitchen in ... Full Story »

Posted by Michael Bugeja
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Subjects: U.S., Business
Topics: U.S. Economy
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Posted by: Posted by Michael Bugeja - Nov 20, 2008 - 2:32 AM PST
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Edited by: Dwight Rousu - Nov 20, 2008 - 6:27 PM PST
Michael Bugeja
3.8
by Michael Bugeja - Nov. 20, 2008

This, essentially, is a meeting story and so covers what was said by whom about the bailout of the U.S. auto industry. What was said at this meeting mattered less than how the head automakers got to the meeting--in luxury private jets. Quite possibly, this will help sink the bailout of an industry that many Americans feel robbed them blind over the past several decades, producing inferior gas-guzzling models with little reliability.

The unions unfairly get blamed for the demise of the auto industry when CEOs such as these call the shots ... and the recalls. An opinion piece published in The Huffington Post by Brian Ross--the new media journalist and political satirist--provides more insight on corporate greed and the auto industry. I'll provide the link.

He added, “couldn’t you all have downgraded to first class or jet-pooled or something to get here? It would have at least sent a message that you do get ... More »

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Dwight Rousu
2.4
by Dwight Rousu - Nov. 21, 2008

The headline and Sherman's question focused on the trivial rather than the core questions of what (if anything) is needed to preserve 7 million? good jobs inside the United States. There was not analysis presented of the value of private jets transporting high paid executives directly without limitations of commercial schedules, hub routes, security screenings, and functioning during flights. Bad congressman. Bad journalism.

Whether the executives are paid too much is a valid question, but also needs analysis. Private corporate jets can be the test economic use of resources for dispersed corporations. Whether corporations should be so big is a valid question.

When contacted by CNN, the three auto companies defended the CEOs’ travel as standard procedure. Like many other major corporations, all ... More »

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  • Brian Ross: The Case for Bailing out the Big Three

    () Apparently there is one thing that liberal and neo-con think-tanks can agree upon: Let Ford, General Motors, and Chrylser fail. Lefties want to stick it to the man! Righties ...
    Posted by Brian Ross