Flying Private Jets to Beg for a Bailout

The CEOs of GM, Chrysler, and Ford travelled in cushy comfort to ask Congress for our money.

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.

Is this a PR problem or do they know they’re going to get a bailout no matter what they do?

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~ by Gabriel Malor on November 19, 2008.

One Response to “Flying Private Jets to Beg for a Bailout”

  1. How much time is lost by the GM representatives when they have to check in for a flight two hours early, or when the GM representatives are not to talk about business during the flight due to insider trading concerns?

    The question is what is lost? When 12 people fly on a private jet it costs about $20,000. When 12 fly commercially to DC it costs about $12,000. Is a $8,000 savings worth the time lost?

    Isn’t it really worth it in the long run?

    http://nomedals.blogspot.com

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