An Ol’ Broad’s Ramblings
AutoMOAB Day 3
Yes, those near bankrupt auto maker’s CEO’s are still in Washington begging for money.
I know what you’re thinking. You’re thinking, “How could these poor corporations possible afford to send these CEO’s to The Hill to testify when they don’t have a pot to piss in?”
Why they plop their big fat butts in Private Jets of course!!!!!
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.
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While Wagoner testified, his G4 private jet was parked at Dulles airport. It is just one of a fleet of luxury jets owned by GM that continues to ferry executives around the world despite the company’s dire financial straits.
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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.
Mulally made his case Tuesday before the committee saying he’s cut expenses, laid-off workers and closed 17 plants.
“We have also reduced our work force by 51,000 employees in the past three years,” Mulally said.
Yet 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. He did not address questions following the hearing.
The cost of each round trip from Detroit to Washington is $20,000.00. The cost of a coach ticket on NWA is $288.00. First class is $837.00 on NWA.
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