Monosyllabic Pedantry

Wednesday, November 19, 2008

Big Three CEOs Flew Private Jets to Plead for Public Funds



Unbelievable. You read things like this, and it really makes you want to just say, Fuck them! Let the businesses fail.

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.

Wagoner's private jet trip to Washington cost his ailing company an estimated $20,000 roundtrip.

Ford CEO Mulally's corporate jet is a perk included for both he and his wife as part of his employment contract along with a $28 million salary last year. Mulally actually lives in Seattle, not Detroit. The company jet takes him home and back on weekends.

Ford continues to operate a fleet of eight private jets for its executives. Just Tuesday, one jet was taking Ford brass to Los Angeles, another on a trip to Nebraska, and of course Mulally needed to fly to Washington to testify.

GM and Ford say that it is a corporate decision to have their CEOs fly on private jets and that is non-negotiable.

"It appears that the senior management of the automakers simply don't get it."

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