SHAMELESS!

The CEOs of the Big Three automakers reportedly flew private luxury jets to Washington to plead for a $25 billion taxpayer bailout to save their debt-ridden industry — ringing up tens of thousands in charges even as they cried poverty.

Recipients of eight-figure bonuses in 2007, the corporate cowboys used their executive perks — which for GM's Rick Wagoner include the run of a $36 million Gulfstream IV jet — to arrive in style as they went begging before Congress.

Wagoner, whose flight reportedly cost $20,000 round-trip — about 70 times more than a commercial airline ticket — told Congress he expected about $10-$12 billion from the requested bailout.

"This is a slap in the face of taxpayers," Tom Schatz, president of Citizens Against Government Waste, told ABC News. "To come to Washington on a corporate jet, and asking for a handout is outrageous."

Joined by Robert Nardelli of Chrysler and Alan Mulally of Ford, Wagoner told the Senate that a collapse in Detroit could cost 3 million jobs in just a year and put the hurt on communities across the country.

But the prospective bailout is getting held up in the Senate, where lawmakers don't appear keen to save the ailing industry. "Just giving them $25 billion doesn't change anything," Sen. Jon Kyl, R-Ariz., told FOX News. "It just puts off for six months or so the day of reckoning."

http://www.foxnews.com/printer_friend...

And we're supposed to bail these pigs out?

If they are as smart and greedy as we are told and if they even own their own automobile, it is probably foreign made and that would have been embarrassing to drive to DC.

Absolutely!  Send Al in his private jet up to Detroit to read them the riot act!!  Honestly, if it wasn't so pathetically sad, this would really make a great comedy.  

They either have really big cajones or single digit IQ's or maybe they think we taxpayers have single digit IQ's.

We still have the choice of not buying a GM, Ford, Chysler product. To top all of this is Toyota and Honda are looking to expand their manufacturing facilities in the U.S..

FeedFwd said:

If they are as smart and greedy as we are told and if they even own their own automobile, it is probably foreign made and that would have been embarrassing to drive to DC.

These guys are nothing short of incredible -- I think I will become a bank also -- and force the Feds to make me take bailout money! 

GMAC is just following suit, Jim.  American Express and the Hartford did this already.

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These companies could have bailed themselves out years ago, made billions and positioned their companies on the cutting edge of technology. I don't have to be a mechanic to say the combustible engine hasn't changed much since it's creation. The computer driven bells and whistles have, but not the basic design. GM is going to roll out the "Volt" and it is very inferior to the EV1 that was killed years ago.

The Volt will have a daily range of about 45 miles I believe. The EV1 had a range of an average of 145 miles a day and that was before tons of advancements were made with batteries.

Consider buying this documentary as it's an eye-opener. The solutions exist, but are being killed like the EV1.  

http://www.whokilledtheelectriccar.com/

Another bailout (sellout) of the American taxpayer.

If this 25B bailout is approved, watch sales of new cars drop even more. There has to be enough jobs for people to buy a new car, our economy is in the tank now and we are dragging most of the world down with us.

The CEOs and very high upper management live in their grand estates, have money in hidden overseas accounts and have very little contact with the real world. The same applies to many of our elected officals.  This is way they had no idea they flying in on multi million corporate jets would cause an uproar with taxpayers.

I think this bill will pass in some form, as to how much and what kind of a deal (plan) I have no idea.  Look for the credit card companies to be next.   It never ends !

Imafreeagent said:

FeedFwd said:

If they are as smart and greedy as we are told and if they even own their own automobile, it is probably foreign made and that would have been embarrassing to drive to DC.

 

I rather think they do drive Detroit-made cars, but they're such pieces of crap, they couldn't drive to the city limits before breaking down.  If they did manage to make it to Washington, their cars would be towed to the trash heap and they'd be forced to fly home commercial.  How humiliating would THAT be?

I am a long time buyer of GM products from my second hand 56 Bel-Aire Hard top to my current 2007 Impala. They have always served me well. Even the two Chevettes I owned in the succession of products.

When I purchased my Impala I could have purchased a  Flex-Fuel version but I do most of my driving in NJ and there were not many places to buy the ethanol mix. Later it turns out that using ethanol increases fuel consumption and it is very expensive to produce ethanol. It also competes with our food supply. I wound up purchasing a 6 cyl that runs on 3 when there is light demand on the engine.

I am averaging over 21 miles/gal over the 12,500 miles I have driven with the majority being local driving.

I remember Ford having a large assembly plant in Mahwah, NJ. The UAW closed the plant with a protracted strike for more pay and benefits ... Ford announced it was closing the plant. In a TV interview one of the plant workers was complaining that he didn't know where he would get a job that paid that well, he only knew how to put lug nuts on the wheels!

Perhaps we shouldn't bail out the car companies. We shouldn't be supporting the unions with taxpayer funds either! Maybe the auto industry should just bill the government for all the expenses they have incurred because of government mandates! 

 Soveregnity says:

How can Ford be planing on opening up a plant in Japan where people make less than $ 1,000. a year?

 Japan GDP $36,640-2007 estimates

http://news.bbc.co.uk/2/hi/asia-pacific/country_profiles/1258586.stm