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Vito 1502 Profile
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Registered: 11-2008
Location: 101st Airborne Country
Posts: 2134
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Re: On our tax dollars bailing out GM.. Here's a Huffington Poster I can agree with...

When you go begging in front of the Congress for the American people to "guarantee" the continuation of your business inspite of decades of shoddy business practices, thinking ahead helps.

I especially like the "tin cup" analogy.

(CNN) -- 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.

Chrysler CEO Robert Nardelli, left, and Ford CEO Alan Mulally testify on Capitol Hill on Wednesday.

 "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."

Rep. Brad Sherman, D-California, asked the three CEOs to "raise their hand if they flew here commercial. Let the record show, no hands went up. 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 -- Alan Mulally of Ford, Robert Nardelli of Chrysler and Richard Wagoner of GM -- did not specifically respond to those remarks. In their testimony, they said they are streamlining business operations in general.

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  The Needs of the Many Outweigh the Needs of the Few..or the One.
11/19/2008, 7:50 pm Link to this post Send Email to Vito 1502   Send PM to Vito 1502

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