Big Three CEOs Flew Private Jets to Plead for Public Funds (ABC News)
November 19, 2008 12:09 PM Subscribe
After the CEOs of GM, Ford and Chrysler have the audacity to beg the already-struggling (not to mention lame duck) government for a cut in their bailout funds to pay for their fiscal mistakes, they decide commercial travel is beneath them.
This post was deleted for the following reason: this is sort of a single link newsy "look at these assholes" post, yes? -- jessamyn
I'm dumbfounded at how out of touch these guys are with common people that they don't understand the PR value of toning down their corporate fatcat ways for a while. It would look so good to people (especially those whose jobs are on the line) to see a photo of a few of those guys walking off the jet way in DC with all of the other schlubs on a commercial flight. They could even tip off reporters to make sure their "good deed" does not go unnoticed and when asked why they're not taking the private jet they could say "This is the time to cut back and reevaluate". I'm not expecting them to believe it, but they could at least put on a little show to at least create the illusion that they care.
posted by Slack-a-gogo at 12:16 PM on November 19, 2008
posted by Slack-a-gogo at 12:16 PM on November 19, 2008
Hey hey hey, this was a genuine, last resort, had to get to DC, emergency. After their personal pleas to voters, and their giveaways what else could they do?
posted by Science! at 12:19 PM on November 19, 2008
posted by Science! at 12:19 PM on November 19, 2008
OK, instead let's put them in coach, and make them wear $100 suits, and take away their gold watches. Problem solved. Now we can give them the bailout, right?
posted by PercussivePaul at 12:21 PM on November 19, 2008
posted by PercussivePaul at 12:21 PM on November 19, 2008
I've said it before and I'll say it again, any corporation getting any government help [1] should be subject to two simple restrictions:
1) The maximum compensation they can offer should be limited to 12 times what their lowest paid employees get.
2) They must make all minutes of all meetings, all financial information, etc available to the public (on the web ideally) from the time they first get that aid and for five years after the aid ends.
Since one of the larger problems is trying to figure out who really needs a bailout and who is just lining up at the trough, I think those restrictions would help cut the applicants down to the ones who actually need help. And, since they're saying, essentially, "we're so bad at running a company that we need taxpayer money" I think it'd be a very good idea to cap their pay and let the public monitor what they're doing.
[1] Not just direct bailouts or subsidies but tax breaks, trade protections, *ANYTHING*
posted by sotonohito at 12:25 PM on November 19, 2008
1) The maximum compensation they can offer should be limited to 12 times what their lowest paid employees get.
2) They must make all minutes of all meetings, all financial information, etc available to the public (on the web ideally) from the time they first get that aid and for five years after the aid ends.
Since one of the larger problems is trying to figure out who really needs a bailout and who is just lining up at the trough, I think those restrictions would help cut the applicants down to the ones who actually need help. And, since they're saying, essentially, "we're so bad at running a company that we need taxpayer money" I think it'd be a very good idea to cap their pay and let the public monitor what they're doing.
[1] Not just direct bailouts or subsidies but tax breaks, trade protections, *ANYTHING*
posted by sotonohito at 12:25 PM on November 19, 2008
Let Detroit Go Bankrupt - mostly interesting because of the byline.
posted by These Premises Are Alarmed at 12:26 PM on November 19, 2008
posted by These Premises Are Alarmed at 12:26 PM on November 19, 2008
2) They must make all minutes of all meetings, all financial information, etc available to the public (on the web ideally) from the time they first get that aid and for five years after the aid ends.
Giving their competitors the ammunition, weapons, and firing solutions they need to destroy a company is probably the best way to assure the public never gets their money back.
posted by Science! at 12:28 PM on November 19, 2008
Giving their competitors the ammunition, weapons, and firing solutions they need to destroy a company is probably the best way to assure the public never gets their money back.
posted by Science! at 12:28 PM on November 19, 2008
I think I am with Mitt on this one. Let them go into bankruptcy first.
posted by caddis at 12:29 PM on November 19, 2008
posted by caddis at 12:29 PM on November 19, 2008
I think I'm just going to start calling my country the U.S.S.A. from now on. The United Socailist States of America. It sure a hell seems like that's what the corporations are pushing for. They don't seem to realize that the taxpayer bailout is so anti-capitolist, so against the market-driven economy.
Either that or they've all gone completely John Galt on us and we're about to have to shoot them.
posted by daq at 12:30 PM on November 19, 2008
Either that or they've all gone completely John Galt on us and we're about to have to shoot them.
posted by daq at 12:30 PM on November 19, 2008
Why are these guys even still working? Each has millions of dollars. Do their contracts not let them resign and walk away? Why play captain of the Titanic?
posted by pracowity at 12:33 PM on November 19, 2008
posted by pracowity at 12:33 PM on November 19, 2008
Minutes of all meetings available on the web? Are you mad? The competition would steal the plans for the 2009 Mercury Grand Marquis!
posted by benzenedream at 12:34 PM on November 19, 2008
posted by benzenedream at 12:34 PM on November 19, 2008
« Older Kinetic Advertising | The Faroe (Fær Øer) pilot whales... Newer »
This thread has been archived and is closed to new comments
posted by scarello at 12:13 PM on November 19, 2008