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Post Info TOPIC: An auto industry solution that I like!


Grand Poobah

    



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RE: An auto industry solution that I like!


Some lawmakers lashed out at the CEOs of the Big Three auto companies Wednesday for flying private jets to Washington to request taxpayer bailout 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 high hat and tuxedo. It kind of makes you a little bit suspicious."

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 it."

The executives -- Alan Mulally of Ford, Robert Nardelli of Chrysler and Richard Wagoner of GM -- were seeking support for a $25 billion loan package. Later Wednesday, Senate Majority Leader Harry Reid reversed plans to hold a test vote on the measure.

An aide told CNN that Reid decided to cancel the test vote when it became clear the measure would fall well short of the 60 votes needed. Reid did, however, make a procedural move that could allow a vote on a compromise, which several senators from auto-producing states were feverishly trying to craft.

At Wednesday's hearing, Rep. Brad Sherman, D-California, pressed the private-jet issue, asking the three CEOs to "raise their hand if they flew here commercial."

"Let the record show, no hands went up," Sherman said. "Second, I'm going to ask you to raise your hand if you are planning to sell your jet in place now and fly back commercial. Let the record show, no hands went up."

The executives did not specifically respond to those remarks. In their testimony, they said they are streamlining business operations in general. Watch Nardelli ask for help »

When contacted by CNN, the three auto companies defended the CEOs' travel as standard procedure.

Like many other major corporations, all three have policies requiring their CEOs to travel in private jets for safety reasons.

"Making a big to-do about this when issues vital to the jobs of millions of Americans are being discussed in Washington is diverting attention away from a critical debate that will determine the future health of the auto industry and the American economy," GM spokesman Tom Wilkinson said in a statement.

Chrysler spokeswoman Lori McTavish said in a statement, "while always being mindful of company costs, all business travel requires the highest standard of safety for all employees."

Ford spokeswoman Kelli Felker pointed to the company's travel policy and did not provide a statement elaborating.

But those statements did little to mollify the critics.

"If it is simply the company's money at stake, then only the shareholders can be upset or feel as it might be excessive," said Thomas Schatz, president of the watchdog group Citizens Against Government Waste.

But in this case, he said, "it's outrageous."

"They're coming to Washington to beg the taxpayers to help them. It's unseemly to be running around on a $20,000 flight versus a $500 round trip," Schatz added. iReport.com: Should the Big Three be bailed out?

The companies did not disclose how much the flights cost.

Analysts contacted by CNN noted that the prices vary with the size of the plane and the crew, and whether the aircraft is leased or owned by the company.

Analyst Richard Aboulafia of the Teal Group said that $20,000 is a legitimate ballpark figure for a round trip corporate jet flight between Detroit, Michigan, and Washington.

When asked whether they plan to change their travel policies as part of the restructuring needed to shore up their finances, none of the companies answered directly. But they said they have cut back on travel in general as revenues have fallen.


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Why didn't they ask the CEOs of the banks we bailed out the same type of questions?

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Seriously. Isn't this just ANOTHER bad business decision? Can these clowns REALLY fix anything?

If I were in that position I think I'd be keenly aware of how bad that looks and make sure I showed up ready to prove we were making HARD cutbacks to better position ourselves. Taking a commercial flight would be a minor sacrifice.

Ridiculous.

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I get a kick out of when companies use the line "it's our policy".

What a cheap and easy excuse.

Well it's my POLICY not to hand out my money to greedy, poorly run corporations with rich CEO's that fly around in private jets. So it looks like we got a stalemate here. If only one of us could change out "policy" huh? Oh well. angered.gif

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Grand Poobah

    



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yea, but how many senators are flying home for the extended holiday breaks they get on their own private jets too. and they're funded with tax money as well....just a thought....

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Well, I do think that's a waste of taxpayer money too. Unfortunately, we don't get to vote on their pay increases either.

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This is the stuff that drives me mad though.

Can we afford our policies to be determined by the "yeah, but they do it too!" argument? I thought that stuff was supposed to stay in the third grade?

Let's fix one problem then get to work on the next one, instead of using each other as excuses to do nothing.

I've said it about four times already on this forum, I think the scariest thing I've seen in all of this was when an auto company exec was on the news saying "they gave AIG $40 billion, why can't they give us $25 billion?"

When did THAT become the basis for a valid arguement? Shouldn't your arguement be based on the facts of why you NEED and DESERVE the money as opposed to "Yeah, but they get it, why can't we?!?!"

You know, I wonder how different we'd feel about all this if the government started taking only 1/3'rd of what they normally do in taxes from us to pay for ESSENTIAL services.

Then when a situation like a bailout comes up they go on TV and say "We want all of you taxpayers to send us $250 each to help bailout GM".

How would everyone feel about it then? And how effective of an argument would it be when the next company came along and asked each of us to send in $200 for them and said "You just paid $250 for GM, we only want $200"

It's like because the money is taken before hand no one cares how it's spent. Even though when it's OVER spent it means we'll pay even more down the road. no.gif

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The Good Witch Of The South

    



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We need to start our own country. It is the only solution. hmm

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Freezeland?

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I thought you already had your blueprints for Bubbletown. ? . ?



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Freezeland sounds good, but Bubbleworld has me curious! biggrin

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Bubbletown is a WHOOOOOOOOOOOOOOOLE nuther story. About 15 years in the planning. smile.gif

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The Good Witch Of The South

    



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oops Bubbletown. Like we'd live in a bubble?confused

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Uh huh. Like I said, I've been planning it for 15 years, so it's pretty involved. I told web just as a fun hobby I might start a website for it so when I come up with another goofy idea to add I have a place to put it.

But BASICALLY it's a gated community but instead of a gate it's a big bubble. There's no money in bubbletown. Residents are selectively allowed in based on what they can bring to the table as far as skills.

It's just a running gag I've had for a long time now. I'm always creating new things to add to my dream community, bubbletown.

If I ever set up the site I'll let you know. I thought it would be fun to see if anyone stumbled on it and thought it was a real place. smile.gif

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The Good Witch Of The South

    



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as long as it is not like Jonestown!smile

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lol. No, no. There will be no Kool Aid. smile.gif

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The Good Witch Of The South

    



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Well I might want koolaid for the people who need to be kicked out... or you probably have a better plan!wink

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Sure do, that's why it's a bubble and not a gate. If you're kicked outta bubbletown YOU'RE OUT! No gettin' back in! You can press your nose up against the glass and gaze upon what you've lost. nana.gif

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Grand Poobah

    



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"Can we afford our policies to be determined by the "yeah, but they do it too!" argument? I thought that stuff was supposed to stay in the third grade?"

Thats just it, we can't afford our policies to be determined by that. I think its a valid point tho.
I bet everyone in that room was wearing custom made leather shoes (not made in america) that cost more than what each of us pulls in a week. The hypocricy is astounding...

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And who precisely will be cleaning the outside of this bubble? I don't want to be looking at noseprints all the time. (Provided I am allowed in of course.)

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confuzzed wrote:

And who precisely will be cleaning the outside of this bubble? I don't want to be looking at noseprints all the time. (Provided I am allowed in of course.)




Rain should take care of cleaning the outside of the bubble.

You should be able to get in.  You won't really be needed as an accountant, since there is no currency, but perhaps you can keep tabs on the bartering that goes on.



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JD The Jazz Doctor wrote:

"Can we afford our policies to be determined by the "yeah, but they do it too!" argument? I thought that stuff was supposed to stay in the third grade?"

Thats just it, we can't afford our policies to be determined by that. I think its a valid point tho.
I bet everyone in that room was wearing custom made leather shoes (not made in america) that cost more than what each of us pulls in a week. The hypocricy is astounding...




Once we get through this mess I'm all for cleaning up government too.

For starters I'd like to see term limits of 8 years in the senate, then put them back in the private sector to live and work under the rules and taxes they've created.

While you're IN government there shouldn't be a single stitch of clothing in your body that wasn't made in the USA.  I don't care if that means you gotta go to work in a burlap sack.

It's time our leaders started leading by example.



-- Edited by Jeremy Riggs at 12:40, 2008-11-20

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I have other talents you know. I don't always need to be counting things. Surely they would be something useful for me to do.

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Jeremy Riggs wrote:

Uh huh. Like I said, I've been planning it for 15 years, so it's pretty involved. I told web just as a fun hobby I might start a website for it so when I come up with another goofy idea to add I have a place to put it.

But BASICALLY it's a gated community but instead of a gate it's a big bubble. There's no money in bubbletown. Residents are selectively allowed in based on what they can bring to the table as far as skills.

It's just a running gag I've had for a long time now. I'm always creating new things to add to my dream community, bubbletown.

If I ever set up the site I'll let you know. I thought it would be fun to see if anyone stumbled on it and thought it was a real place. smile.gif



Hm, for a Republican, that sounds awfully Socialist...

 



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If you can live in a smaller community, sheltered from all the crap the world has to offer, I think you can be a little more idealistic.

A community of 300 hard working, decent people is one thing.

When you're dealing with 300 million theres too many losers just looking to cash in on other peoples hard work. It's almost impossible to stay idealistic in that environment. At least I think it is.

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They are doing a press conference right now.

They're demanding the big three provide business plans detailing how they will fix their businesses before they'll give them a dime.

They've given them until December 2 to come up with plans.

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Grand Poobah

    



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Jeremy Riggs wrote:

They are doing a press conference right now.

They're demanding the big three provide business plans detailing how they will fix their businesses before they'll give them a dime.

They've given them until December 2 to come up with plans.






I wonder if they all enjoyed their lunch break today of steak tartar, caviar, and champagne?confused.gif

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lol.

Ok. I gotta ask JD. What do they have to do to make you happy? I'm not defending them, but it seems like there is no good answer to you.

If they come out and give the big three a blank check then do you say they did a good job?

If they come out and tell them no, the corporate welfare train stops here, THEN do you say they did a good job?

If they come out and say we want proof you're going to fix your problems, THEN do you say they did a good job?

What does the average senator have to do for JD the Jazz Doctor to say "hey, congress did the right thing today"



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Jeremy Riggs wrote:

lol.

Ok. I gotta ask JD. What do they have to do to make you happy? I'm not defending them, but it seems like there is no good answer to you.

If they come out and give the big three a blank check then do you say they did a good job?

If they come out and tell them no, the corporate welfare train stops here, THEN do you say they did a good job?

If they come out and say we want proof you're going to fix your problems, THEN do you say they did a good job?

What does the average senator have to do for JD the Jazz Doctor to say "hey, congress did the right thing today"



See JD's signature.

 



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rofl.gif

How did I forgot about that.

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