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Hypocrisy Of The Worst Kind

Written by | November 20th, 2008
Today, The Big 3 CEO’s…
Tom LaSorda of Chrysler Group, Alan Mulally of Ford Motor Company and Rick Wagoner of General Motors
appeared before Congress, trying to plead for Congress to come bail them out, for decisions that I, and many other Americans see as failed policies and inappropriate use of The American tax payer’s funds. It will likely not fix anything, but rather, prolong the inevitable, which is for these companies to file for bankruptcy, then restructure and renegotiate their contracts, with their unions and other partners.
 
To my satisfaction, and many others, it looks like the funds will not be appropriated.
 
So, where is the hypocrisy?
All 3 CEO’s arrived in Washington. DC, in private, corporate jets; not one jet, not a commercial flight, but 3, individual private jets.
http://www.youtube.com/watch?v=1BKb8MI_tKU&eurl=http://news.google.com/news?hl=en&q=big+3+ceos+and+congress+and+private+jets&um=1&ie=UTF-8&saiurl=http://i2.ytimg.com/vi/1BKb8MI_tKU/hqdefault.jpg
 
I have to wonder what the unemployment office might have said, if one arrived there, in a limousine, asking for unemployment.
 
Perhaps The Big 3 Ceo’s can team up with the executives over at AIG and get a nice deal on some vaction suites, on a nice island; compliments of the US tax payer.
 
Mark
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5 thoughts on “Hypocrisy Of The Worst Kind

  1. resqr1968

    I'm fairly certain that the lear jets are just the tip of the excess iceburg that could be liquidated to make an impact to help themselves stay afloat. I do not agree with rewarding poor business plans or performances under any circumstances.

    Like anything else in trying climates, only the strong will survive. While the magnitude of the impact is extremely troubling without question, if pure competition is allowed to run it's course we are likely to end up with the cream of the crop businesses in place to run a more secure economic ship for the American people to sail on.

    I think we are still in the begining stages of the trickle down impacts. However, a wise friend once told me you can't fear the unknown. Trusting in his wisdom, perhaps we are making more out of this, than will be needed once all has been realized.

    There are only so many ineffective & irresponsible organizations we, the tax payers, can bail out. Unfortunately, the first always is the government itself. We don't have to like it, we elect it. Beyond that, I'd need convincing as to why I need to bail anyone else out specifically, especially without a detailed & thorough plan for how they will proceed differently if helped. Without that, I'd likely say thanks, but no thanks.

    Reply
  2. markross Post author

    Resq,

    Well said, thank you!

    The Big 3 is crying for bailouts, however, they can pay their union workers up wards of $40 per hour, a plethora of benefits, and their CEO's are flying around on fleets of Lear Jets.

    No, they need to go bankrupt and re-negotiate, or present us and DC with a compelling business plan, if they want any further considerations for a bailout.

    Thanks to our esteemed leaders, 700 billion was injected into the system and very little has come out of it.

    I believe that 700 billion is bailing out companies, for their good, but not for the good of the economy or consumers.

    Here is that link that you sent to me, thank you.
    http://www.comcast.net/articles/news-general/2008
    For these CEO's, it is a dime late and a dollar short; I wish them well.

    Mark

    Reply
  3. markross Post author

    I keep hearing that these CEO's keep saying they'll only take $1 in pay for the year. OK, that sounds like it's a sincere gesture, until you look at the stock options they get on the back side….once everything is fixed! Personally, I'd rather see someone give themselves a modest salary & not take stock options-which will further impact the future economic climate.

    Reply

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