Auto Execs Fly In Style To Beg For Bailout
NOVEMBER 19, 2008
The millionaire executives of the big three automakers that Barack Obama is ardently pushing to bail out arrived at the nation’s capital in private luxury jets to ask for tens of billions of taxpayer dollars to avoid bankruptcy.
The Chairman and Executive Officer of General Motors, Ford and Chrysler traveled to Washington in style to beg for government handouts they claim essential to avoid going out of business. Each made the costly trip in a multi million-dollar corporate jet, according to a major network news outlet that offered the outrageous details.
According to the report, General Motors spent around $20,000 so that CEO Rick Wagoner could take a $36 million luxury aircraft to ask Congress for a $12 billion bailout. He could have flown first class from Detroit for less than $1,000 roundtrip and less than $300 roundtrip in coach.
Ford CEO Alan Mulally gets his corporate jet as part of his lucrative contract, which paid him nearly $30 million last year even though the auto giant is on the verge of bankruptcy. He doesn’t even live in Detroit, but rather Seattle, and uses the plane to fly home on weekends. Mulally assured the Senate Banking Committee this week that he has cut expenses by closing more than a dozen plants and eliminating thousands of workers.
He conveniently omitted that his company still operates a fleet of eight private jets for top executives. Regardless, the soon-to-bee president is pushing hard for a taxpayer bailout of the nation’s auto giants, saying that allowing the industry to completely collapse would be a disaster.
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