000 plane trips
ceos flying private jets while asking for a bailou
what a slap to the american people
What A Slap In The Face
By pyewacket
@pyewacket (43903)
United States
November 20, 2008 10:40pm CST
I can't help being REALLY amused by the audacity of the CEOs of the major three auto industries, that is Ford, Chrysler and GM for asking the government for a $25 billion dollar bailout to help their car manufacturing industry, which as you know is in a dire slump due to the economy and are facing bankruptcy, while at the same time these CEOs representing the car companies had the chutzpah to fly into Washington D.C. each in their own private corporate LearJets.
EXCUSE ME...does anyone see something wrong with this picture??
According to the article I read (I also heard it on the World News Now report) every time these yo-yos use their company corporate jet, the round trip cost is estimated at a whopping $20,000..Like DUH?
Do you realize how many plane flights we the "common" folk could have for that amount taking the average cost of a REAL trip by plane and first class or coach?...yikes we probably be set for life
Here's an excerpt from an article:
[i]"This is a slap in the face of taxpayers," said Tom Schatz, President of Citizens Against Government Waste. "To come to Washington on a corporate jet, and asking for a hand out is outrageous."
Wagoner's private jet trip to Washington cost his ailing company an estimated $20,000 roundtrip. In comparison, seats on Northwest Airlines flight 2364 from Detroit to Washington were going online for $288 coach and $837 first class.
[/i]
The rest of the article is here:
http://abcnews.go.com/Blotter/WallStreet/story?id=6285739&page=1
{This is NOT a referral link but a link to the article about the CEOs and their private jets.}
Now I truly feel sorry for the WORKERS for these car companies...the average Joe Smoe trying to milk out a living, perhaps many not even EARNING $20,000 a year, while their CEOs in charge are piddling away their money from their company that they are working for, for one plane trip
What's your take on this crap? And just why if these CEOs insist on traveling by private jet, why isn't it coming out of their own pockets...they certainly can afford it as each are billionaires??
According to the article I read (I also heard it on the World News Now report) every time these yo-yos use their company corporate jet, the round trip cost is estimated at a whopping $20,000..Like DUH? Do you realize how many plane flights we the "common" folk could have for that amount taking the average cost of a REAL trip by plane and first class or coach?...yikes we probably be set for life
Here's an excerpt from an article:
[i]"This is a slap in the face of taxpayers," said Tom Schatz, President of Citizens Against Government Waste. "To come to Washington on a corporate jet, and asking for a hand out is outrageous."
Wagoner's private jet trip to Washington cost his ailing company an estimated $20,000 roundtrip. In comparison, seats on Northwest Airlines flight 2364 from Detroit to Washington were going online for $288 coach and $837 first class.
[/i]
The rest of the article is here:
http://abcnews.go.com/Blotter/WallStreet/story?id=6285739&page=1
{This is NOT a referral link but a link to the article about the CEOs and their private jets.}
Now I truly feel sorry for the WORKERS for these car companies...the average Joe Smoe trying to milk out a living, perhaps many not even EARNING $20,000 a year, while their CEOs in charge are piddling away their money from their company that they are working for, for one plane trip
What's your take on this crap? And just why if these CEOs insist on traveling by private jet, why isn't it coming out of their own pockets...they certainly can afford it as each are billionaires??4 people like this
15 responses
@polachicago (18716)
• United States
21 Nov 08
I couldn't agree with you more. In fact I was talking about car industry to my friend. I better give 21 billions to car industry workers, so they can leave without working for one year each. I would let those CEO suffer, because they overspend company money and an average person has to wait for $100 bonus for Christmas.
4 people like this
@pyewacket (43903)
• United States
22 Nov 08
Unfortunately it would be all the workers who would suffer if the car industries go under...more unemployment and job layoffs, factories closing...all thanks to the greed of those CEOs
2 people like this
@Aussies2007 (5336)
• Australia
21 Nov 08
Again... there are several ways to look at things.
The $20.000 trip is not the issue.
They bought the plane... might as well use it.
Furthermore... for those guys... time is money.
They probably earn $1000 an hour.
If they waste a whole day to go to Washington the conventional way... that's already $8000.
Those trips are tax deductible... so by not paying taxes on those $20.000... the trip really only cost 10.000. Those people are not stupid. They do their calculations... and if they go to the trouble of purchasing a plane... which is also tax deductible by the way... it is because it cost them less than flying the conventional way. And even if it does cost them something... you cannot put a price on power, prestige and status.
That said... the real issue is that the American motor companies should have spent their money in designing cars for the 21st century rather than buying corporate jets. It is the rise in the price of fuel which is putting them in the poo.
The same is happening in Australia... as Ford and GM in Australia are affiliates of the American companies.
It is hard to decide what to do. Some people want to keep their big cars at all cost... because they enjoy the extra space on long trips.
But the new generation who has not experienced that comfort... is not prepare to spend the money running a big car which is a ruin on fuel.
Add to this... the financial crisis... and people are simply not buying new cars right now.
Should the government bail the motor industry out?
If it does not... it will lose its motor industry.
But if I was the government... I would insist that those companies start getting their act together and move into the 21st century... as a condition for bailing them out.
3 people like this
@GardenGerty (169474)
• United States
21 Nov 08
Pye, I think it was AIG, not ING, unless they are one and the same, and they might be. I think one of the issues is that corporations are not in touch with the real people, and have become so accustomed to throwing money around to demonstrate their power and prestige that they just do not get it about how distasteful and downright hate engendering that is. For PR value alone they should start trying to live like the little guys a little bit.
2 people like this
@Aussies2007 (5336)
• Australia
21 Nov 08
You won't get an argument from me that CEOs are over paid.
But if you are running a billion dollar company... you want the best man to do the job. And the best man can name his price. It is the same thing in Australia.
A company that over spend its money on frivolities will go broke everytime.
It does happen all the time.
However... a good CEO will work 15 or even 18 hours a day.
It might not look like hard work to us.
But their job is about coming up with the right ideas in order to make the right decisions. One right decision can see the company prosper... while one wrong decision can send the company bankrupt. That is a heck of a responsability... and most of us would not be able to cope with it without getting a very serious breakdown. lol
3 people like this
@pyewacket (43903)
• United States
21 Nov 08
Mmm...okay you're figuring out that time is money to these CEOs..and they might get $1,000 an hour..how do you figure they would lose $8,000 for a conventional trip from Detroit to Washington, D.C.??? It's not an eight hour trip...maybe a two or three?? The thing is, that each $20,000 trip that they use those private jets could have been used all this time to go right back into the funds for the company itself and not written off as a "business" expense and go joy riding a private plane like that, unless they truly think it's beneath their dignity to mingle with the low life common folk and travel on a regular commercial flight
Look at the jerks from ING who got help from the bailout..what did they do? They proceeded to use some of that bailout money and went to a posh resort hotel..had massages, facial, pedicures and manicures all costing several thousand dollars each for each CEO..like huh? So what's stopping the CEOs to do the same asinine thing and misuse the bailout money also?
I do agree thought that the car industry got themselves into the poop by designing the large gas-guzzling SUVs that now no one can afford due to gas prices, and should have designed more fuel-efficient cars running or cars that can run on other means and make them more popular instead
So what's stopping the CEOs to do the same asinine thing and misuse the bailout money also?
I do agree thought that the car industry got themselves into the poop by designing the large gas-guzzling SUVs that now no one can afford due to gas prices, and should have designed more fuel-efficient cars running or cars that can run on other means and make them more popular instead2 people like this
@whiteheather39 (24403)
• United States
21 Nov 08
The extravagance of the perks and salaries of these company big shots, not just in the auto industry, is one of the reasons we are in this mess.
2 people like this
@pyewacket (43903)
• United States
22 Nov 08
Yes such extravagance isn't just on the part of the CEOs of the auto industries but all CEOs of all companies and who have probably forgotten what it's like to live an "ordinary" life like the rest of us
1 person likes this
@royal52gens (5488)
• United States
21 Nov 08
I totally agree that this is a huge slap in the face. How dare these CEO's spend that kind of money for private planes and then ask for a freaking hand out??? Unbelievable. It just shows how much these guys are out of touch with the rest of the world. They have no idea what it is like to try to live off a normal income.
3 people like this
@pyewacket (43903)
• United States
22 Nov 08
Somewhere along the line these CEOs were probably the average Joe Smoe also, struggling just like everyone else to get to the top....shame they forgot their "roots" and what it's like to be the everyday person trying to ekk out a living.
1 person likes this
@howard96h (11640)
• New York, New York
21 Nov 08
I caught it on the news too, isn't that incredible? What nerve! I don't understand people anymore, this mayor is allowing the MTA to increase transit fares again and cut service and over 2 thousand people are loosing their transit jobs but they just spent 4 Million Dollars to re-name a freakin bridge that we have. WHY? It costs 4 Million to change 137 signs? Give me ONE Million and I will go around the city with spray paint and change the 137 signs! They are all a bunch of crooks!
2 people like this
@howard96h (11640)
• New York, New York
23 Nov 08
HAHAHA You are absolutely right!
2 people like this
@pyewacket (43903)
• United States
22 Nov 08
Mmmm..if you went around with spray paint to change those signs you'd probably be picked up and arrested for graffiti ....LOL
1 person likes this
@4mymak (1793)
• Malaysia
21 Nov 08
your topic reminds me of my first boss - a japanese.
we are a supplier to top manufacturers like sony, panasonic and others..
during the economic slowdown in the 90's, these manufacturers were asking the suppliers (like us) to lower our prices. our company was facing (financial) problems, we couldnt afford to lower our prices.
and to show that we were really in tight situation, my boss who normally flies in business class - travelled in economy class since then... all the managers also had to travel economy since then.. all company cars for managers - from imported brands, were changed to locally manufactured cars.. the staff had to make due without our annual dinner/dance.. some allowance were reviewed + cut.
all these to show to the customers that - we're not throwing money around, we're cutting down on our expenses, we're really trying very hard to save our company's money..
i think that made some sense, right?
i wonder if the Ford,GM, Chrysler bosses would mind flying in economy class, and do without their limos.. ??
3 people like this
@GardenGerty (169474)
• United States
21 Nov 08
Sounds like your company realized how all people have to cut back for the good of the company.
2 people like this
@pyewacket (43903)
• United States
22 Nov 08
I think these CEOs could have taken lessons from your boss and your company of how it is possible to cut down on expenses. If they could do it, then there's no reason the CEOs of these auto companies can't as well
1 person likes this
@KrazyKlingon (5005)
• United States
22 Nov 08
Actually, the question would be whether or not the CEO's took their private planes because someone offered or pressured them to use the private jets, or if they, themselves wanted that luxury. At the same time, you are right in that they could have booked a flight. Not only would it have been so much more economical, but for three private jets to actually burn fuel to fly these three ... that is kind of ridiculous also. These CEO's should have paid for those flights out of their own pockets. i'm thinking that we should grab them by their ankles, & give them a good shaking, & grab everything that lands on the floor & run like heck. 
The problem is, like annie said - if any of those three auto makers end up closing up completely, not only will there be a lot more unemployed people. That would lead into a lot of cars unrepairable, because specified parts needed to repair existing cars would probably dry up, causing those who need a car to work to also become unemployed, because he cannot afford buy another vehicle.
I also heard that the three auto makers do have factories in other countries around the world, so it would sort of have a world-wide effect if they don't get their acts together.
The problem is, like annie said - if any of those three auto makers end up closing up completely, not only will there be a lot more unemployed people. That would lead into a lot of cars unrepairable, because specified parts needed to repair existing cars would probably dry up, causing those who need a car to work to also become unemployed, because he cannot afford buy another vehicle.
I also heard that the three auto makers do have factories in other countries around the world, so it would sort of have a world-wide effect if they don't get their acts together.1 person likes this
@pyewacket (43903)
• United States
12 May 09
This is an older discussion and just getting around to giving brs...LOL. Well six months later the news still isn't too great with the car industry....did you hear how GM is going to stop making Pontiacs? That was my favorite "dream" car back in the 60s and 70s...loved the Firebird and GTO Judge.
@KrazyKlingon (5005)
• United States
13 May 09
Six months later, it's still not good, like you said.
It seems that GM is still in trouble, like you said. Their problem is, they had so many brand names that - I guess they just got too large to handle. Some of those brand names are Chevrolet, Cadillac (their high-priced luxury cars), Oldsmobile (discontinued), Pontiac, & several others.
It was the same thing with Chrystler that they had too many brands, & therefore, too much to handle. This particular company had two brands where each year, both brands would release the exact same car, & the only difference between them were in names only. They phased one of those brands out. Furthermore, some time in the middle or late 1980's this company got bailed out by the Reagan administration. Not sure about now, but it also got bought over by a foreign car maker, I believe Mercedes (Germany). Who the heck is Daimler?
Ford felt that they needed a bailout, too, but it seems that they somehow managed themselves better in that they no longer need it. Weren't they the first American car manufacturer also? Well, they stuck with their three brands of Ford, Mercury, & Lincoln. At one time, many used Cadillac's Fleetwoods (GM) as their limos. Many then abandoned that for Lincolns - I believe for a while, at first continentals, & later, Town Cars. It seems that the town car was actually the Ford Crown Victoria with a lot of bells & whistles. They were also innovators in that they were usually the first one to come up with various body design ideas (such as the continental tire - a hump in the back of the trunk for a spare tire, & the continental lights.) However, Ford Motor Comany also owns - I guess I would call it office real estate. Reason for that is that they bought or built buildings for their offices, & quite a lot of that space gets rented out, & they're probably generating money from that. I also see more Ford Motors vehicles around than the other two (not counting all of those foreign-owned brands).
@GardenGerty (169474)
• United States
21 Nov 08
I think all citizens should be citizens against government waste, including heads of corporations. To bad they are not. The corporate jets and the private dining rooms and the other perks are the reasons that there was not a lot of sympathy for their cause in Washington. Mitt Romney's dad was a corporate big wig and he has a lot to say about what really needs to be done to save the auto industry. If we bail them out, it needs to be in order to save the everyday, working class citizen, as benefiting that group of people, the bread and butter group of people, is what will benefit the economy.We need a bailout to save the working class. I bet if it did come out of their own pockets we might see these corporate heads switch down to mere first class on an airline.
@pyewacket (43903)
• United States
22 Nov 08
What I have to laugh is these CEOs kind of expect their workers to have pay cuts, when it's them that need to do that, right?
@cher913 (25781)
• Canada
21 Nov 08
it is because these few bigwigs have NO clue how the rest of us live. it is kinda between a rock and a hard place because if they dont get bailed out, there will be so many people out of work.
but if they DO get the money, there must be a lot of changes made (such as all the higher ups MUST take a large paycut!)
1 person likes this
@pyewacket (43903)
• United States
22 Nov 08
It's a real shame, as I'm just betting when these CEOs were just starting out in their "careers" they probably did live a "normal" unpampered lifestyle..shame they forgot their "roots" Yes unfortunately without the bailout, it will be the common worker of the auto company that will be affected..either by a paycut or complete loss of their jobs.
@anniepa (27955)
• United States
22 Nov 08
They sure didn't help their case any, did they? I know the economy will really take an even worse dive if even one of the big three automakers go under, with not only the workers there being affected but so many other people like supply stores, dealerships and even restaurants that depend on business from the workers, but the sacrifices have to start at the top where the problems began. I'm glad they didn't simply get a blank check with no strings attached from Congress. At least now I think IF they get a bail-out there will be some oversight and some conditions that come with it. I did hear GM has sold or is going to sell two of its corporate jets now.
Annie
@scarlet_woman (23463)
• United States
22 Nov 08
oh,they've got major cojones.
they're basically getting us to pay for their overpriced gas guzzling piles of crap
by asking for a handout.we didn't buy,so they want it one way or another.none of those CEO's are gonna take a cut-you know the workers will pay for it.
just look what AIG did after they got their safety net.
they ought to can every single one of those poop de doops and regulate it.
@sumofalltears (3988)
• United States
21 Nov 08
CEO's and politicians are all the same. They always have one eye on themselves and the other eye on their needs. That is one reason why I don't trust any of them. People that make money off of the hardships of others are not cool in my book, and to squander the money is twice as bad.
2 people like this
@pyewacket (43903)
• United States
22 Nov 08
It's unfortunate that many people who are genuinely rich and would never have to worry about money for the rest of their lives have a "poor" mentality...they never think they have enough and hoard it and use it for their own selfish needs
2 people like this
@Couch08 (36)
• United States
21 Nov 08
They are people who are taking advantage of this crisis and the emergency funds. So if the government wants to help a certain company proper investigations should be conducted first to know if they truly need a help and if they gave such help to the right person.
@tamarafireheart (15384)
•
21 Nov 08
Hi pye,
That is outrages! I have got a simple answer to that, the gorverment should tell them to take a run and jump, why should the tax payers bil them out, let them get rid of their private jets and pay for it themselves, if they have to travel, travel like everyone else. Bright Blessings.
Tamara
