Auto CEO''s step out of private jets to ask for public money !!!!!
By ronnyb
@ronnyb (6113)
Jamaica
December 6, 2008 8:05am CST
From ABC:
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.
Above is an excerpt from an ABC news bulletin which spoke to the fact that CEO's of the top three autos were asking for public funds while indulging in luxuries that could cost and estimated one hundred thousand .Do you believe that government should bail them out or first as them to streamline and cut excesses such as mentioned above ?. However, you and I both know that cutting excesses is often taken to mean cut the worker who is making $40,000 dollars per year rather than cut their luxury travel which could mean $30,000 per day. So this begs the question now of how much autonomy the government can have in this situation to ensure that the ordinary worker is not shafted in the process.
In addition, what about the glory years for these companies when they made enormous amounts of cash, unperturbed, where is this money and how much of it are they willing to put up to help themselves. Should we now be asking for a review of their books to see if there were any instances of impropriety ,can we trust these men who obviously have a taste for extravagance,could they be indirectly responsible for the current states of their companies?. Also under which terms will the fund be disbursed if they actually decide to bail them out, meaning will the government actually get a piece of the automobile business or is it just a loan to be paid back at a future time ?
Or do you believe that these men are justified in indulging in a little luxury after all the fate of the automobile industry rest in their bargaining ability. Consequently they should be well rested, can’t have a man of such importance rubbing shoulders with the ordinary citizenry and then rub shoulders with the leaders in Washington after. Maybe they deserve it, they are under a lot of pressure shouldn’t have to be hailing a taxi to get to Capitol hill for a meeting of such importance.
It is your money so you should decide don’t you think?
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