30 Votes

Detroit Three Beg For Money From Congress After Arriving In Corporate Jets

Agent009 submitted on 11/19/2008 Official Bell & Ross Timestamp: 11:42:32 AM

47 user comments | Category: Misc News | Source: | SOURCE: abcnews.go.com

The CEOs of the big three automakers flew to the nation's capital yesterday in private luxurious jets to make their case to Washington that the auto industry is running out of cash and needs $25 billion in taxpayer money to avoid bankruptcy.

The CEOs of GM, Ford and Chrysler may have told Congress that they will likely go out of business without a bailout yet that has not stopped them from traveling in style, not even First Class is good enough.

LA Auto Show Photo Gallery

Keep checking back tonight as we should have more surprises later...

this year's gallery is sponsored by Lexus

Read Article

Detroit Three Beg For Money From Congress After Arriving In Corporate Jets

About the Author

"If everything seems under control, you're just not going fast enough."
— Agent009 (View Profile)

User Comments

I guess they didn't read the AIG memo..
— Agent009 (View Profile)

Posted on 11/19/2008 11:47:28 AM | reply to this comment | Votes: 6

Many Large Company CEOs take private jets for security reasons. This is not new, but would have been nice if they Jet Pooled...hehe.
— Porschinator (View Profile)

Posted on 11/20/2008 6:59:13 PM | | Votes: 2

why are there pictures of a lexus in this article???
— holmstar (View Profile)

Posted on 11/19/2008 12:07:13 PM | reply to this comment | Votes: 8

They just wanted to piss off the autospies readers even more! lol
— 0to60 (View Profile)

Posted on 11/19/2008 12:26:42 PM | | Votes: 8

"this year's gallery is sponsored by Lexus"
— AMiodynski (View Profile)

Posted on 11/21/2008 11:36:34 AM | | Votes: 1

wow, they've even brought up an LS430 to drive them to the capital. lool And they tell US to buy American cars. lool now I hope this shows the truth to those fools who fall for the words of such theives.
— Designer1 (View Profile)

Posted on 11/19/2008 12:37:00 PM | reply to this comment | Votes: 4

The lexus pics appear to be a [very] thinly veiled attempt at advertising. The article has nothing to do with lexus.
— holmstar (View Profile)

Posted on 11/19/2008 12:48:41 PM | | Votes: 1

LOL! Alan Mullaly was driven to the foot of his private jet in a Lexus LS 430!!!

Watch the ABC vid, guys... revealing.
— Hyundai (View Profile)

Posted on 11/19/2008 7:52:13 PM | | Votes: 2

Question is.. did he order the lexus, or was he just picked up in a Lexus. It is kind of like saying "GM was the first to buy a Hyundai Genesis, so they are really scared". In reality, its for competitive analysis.

Like the old saying goes, believe half of what you see and a third of what you hear.
— InfinitiG37 (View Profile)

Posted on 11/20/2008 12:59:15 AM | | Votes: 1

Well it pissed me off.... Those jets run $10k an hour. That's just sickening.

If these execs had an iota of integrity, they'd wave their salaries for the year, take $1 for payment, and receive any further compensation in the form of stock. Think Steve Jobs when Apple was suffering.
— GreenPlease (View Profile)

Posted on 11/19/2008 12:48:15 PM | reply to this comment | Votes: 9

After hearing this suggestion Nardelli offered to do this for the remainder of the year...two whole months.
— Agent009 (View Profile)

Posted on 11/19/2008 1:17:04 PM | | Votes: 2

While I do not agree with most of what the Big 3 have done, all large companies fly their CEO's in private jets. It just makes economic sense. Think of their "worth" per hour, it far surpasses any costs a private jet may incur. It doesn't make economic sense for a CEO of a company to wait 3 hours at an airport both ways in addition to the plane ticket (first class) being 2-3k anyway.

Secondly, I hate these politicians questioning these CEO's when they themselves will put one of America's worst economic crisis' on hold while they go on "vacation". Funny thing is, most of America buy into their nonsense.
— kablaam (View Profile)

Posted on 11/23/2008 12:10:11 AM | | Votes: 1

a great article by Romney summing it all up....

http://www.nytimes.com/2008/11/19/opinion/19romney.html?_r=4

— skippee (View Profile)

Posted on 11/19/2008 2:11:59 PM | reply to this comment | Votes: 3

Mit "dumbass" romney got his ass handed to him by analysts tonight on TV... analysts who actually had REAL knowledge of the domestic auto industry.

Mit Romney is a traitor.. he should move to Japan or Korea where his type is welcome. Him and people like him can leave my country.....

Sincerely,

A real AMERICAN
— neutral (View Profile)

Posted on 11/20/2008 12:29:31 AM | | Votes: -1

Its funny that a man flaunted his Michigan experience would say such things. He is another example of the uselessness of politicians.
— InfinitiG37 (View Profile)

Posted on 11/20/2008 12:55:23 AM | | Votes: 1

Anyone think that maybe they already owned the jets and had contracts with the pilots so why the hell not take them???
— komododave (View Profile)

Posted on 11/19/2008 2:31:20 PM | reply to this comment | Votes: -6

Private jets are are absurd unless there are MANY people aboard and the math works out favorably when accounting for the cost of hourly pay for these 'VIPs' (over-compensated staff like attorneys and PAs).

But in light of recent events, there is NO question that it was a terrible blunder by GM staff to book these idiots and their entourages on private jets, regardless of any potential cost savings (which would have been marginal). Public perception is at a crucial juncture for these people. These morons are teetering on the edge of a cliff. Any one thing like this could be that push that sends these idiots and their dependents into total oblivion. Shame on them.
— randy33 (View Profile)

Posted on 11/19/2008 2:43:41 PM | | Votes: 10

If they own them already, sell them....
— AMiodynski (View Profile)

Posted on 11/21/2008 11:39:38 AM | | Votes: 1

Romney is 1000% right! He's "spot-on"...

komodave

So what? Sell the damn things and fly 1st class like many much more successful executives...they cost a fortune to run!!
— mmeecc (View Profile)

Posted on 11/19/2008 2:45:36 PM | reply to this comment | Votes: 4

Romney is not correct though, what he proposes would detroy any bit of the auto industry that the United States has. Ask yourself, instead of buying a Camry or Accord that is bad for your country, you've decided to buy a domestic of the same quality, power, and economy, but you hear that GM is in bankruptcy. Would you buy the Malibu then?
— InfinitiG37 (View Profile)

Posted on 11/20/2008 1:06:02 AM | | Votes: 1

There is usually a reason why execs use private jets...
— indifferent (View Profile)

Posted on 11/19/2008 3:14:25 PM | reply to this comment | Votes: -7

I watched the entire 4hr proceedings on C-SPAN yesterday 3pm to 7pm.

CNBC tried to televise round 2 today, but interrupted every few minutes for commercials and to explain what was said. I don’t need so called experts to explain what was said.

Americans just aren't allowed to have the actual facts these days, we need someone to explain it all to us to fulfill thier agenda. Give me a break already.
— mercuryguy (View Profile)

Posted on 11/19/2008 6:42:48 PM | reply to this comment | Votes: 5

Why didn’t GM’s CEO drive a top of the line Caddy from Detroit to Washington.

That is what I would have done to at least show some leadership.

Too busy to do the right thing?
— mercuryguy (View Profile)

Posted on 11/19/2008 6:46:01 PM | reply to this comment | Votes: 3

One Senator said:

"It is as if you guys showed up at a soup kitchen wearing a Tuxedo and Top Hat"

Love it.
— mercuryguy (View Profile)

Posted on 11/19/2008 6:49:04 PM | reply to this comment | Votes: 7

Cmon brother... you really expect the US government to say realistic things.... Cmon now.

Congress and the US buying public have demonstrated time and time again that they love to betray America and hate all that is Americans, no matter how wrong they are.

Im leaving USA if the industry fails... we will have nothing to show for ourselves except for a select bunch of rich and greedy criminals and hordes of their peasants
— neutral (View Profile)

Posted on 11/20/2008 12:32:08 AM | | Votes: 1

I don't think they made a good case in the senate. The big three are going down. Ford claims it can weather the crisis since it has been making "some" money. Can't say the same for GM and Chrysler.
— woood (View Profile)

Posted on 11/19/2008 11:43:13 PM | reply to this comment | Votes: 3

The biggest problem is that the meetings spent too much time with ill-informed and ignorant politicians ranting myths and BS from crap they heard from the trendy people in this country. My stomach churns every time I hear a reporter talk about electric vehicles are hybrids and at the same time talk about how detroit cant make a profit.

Tell me who makes a profit on hybirds and super-advanced alternatives!! Toyota "doesnt loose money" on the Prius...... I wonder what that means (sarcasm)
— neutral (View Profile)

Posted on 11/20/2008 12:35:17 AM | | Votes: 4

We have over a trillion for Iraq, 850 billion for criminals on wall st...... but a 25 billion loans to save OUR AMERICAN industries is too much... even though the alternative will throw us into depression.

May God damn the American Congress. May God damn the "americans" who want the big3 to fail, and the "Americans" who needlessly send money to Japan/Korea. Hopefully God has more mercy on you all than I would if I were him. You've all sentenced America to a downfall.

And here it comes.. all the morons with their typical rants like "detroit makes bad cars" (myth) and "detroit forces guzzlers on people" (myth), and "detroit has no innovation" (huge myth... see Chevy Volt, see GM direct injection, see Ford Fusion Hybrid). No one likes you, you all are traitors to America. Leave my country, we don't need people like you, traitors. Go join Al-Queda, they hate America too.
— neutral (View Profile)

Posted on 11/20/2008 12:42:12 AM | reply to this comment | Votes: 5

Kinda extreme man.. but gotta say you arent lying.

We Europeans support our industries whenever we can (although the EU is screwed with old ideas and rules) and America should do the same. If I were to buy a new car today, itd be a G37 sedan (obviously) or even better itd be a Cadillac CTS. What a shame that your government and you people hate your industry so much. America should be ashamed.
— InfinitiG37 (View Profile)

Posted on 11/20/2008 12:52:09 AM | | Votes: 2

God doesn't exist, if he did, he's probably out blessing all those millionaire Detroit execs who jacked the public for the last 40yrs and damning all those "patriotic" americans who keep going back and supporting Detroit after getting jacked. God is probably kicking himself wondering why he even gave those people a brain. Or was it man who created god?
— Badgewhore (View Profile)

Posted on 11/20/2008 1:45:13 AM | | Votes: -1

Wait...I thought YOU were the one leaving, neutral.

BYE!
— 09CTSVforMe (View Profile)

Posted on 11/21/2008 7:45:30 AM | | Votes: 1

It's time for america to get out of the automobile business, let the japanese and koreans take over. Americans would be better served.

When I go to Bestbuy, all I see are japanese and Korean products, only anger I see are directed towards the slow cashiers and customer service reps who ain't in the mood to perform his/her best at their jobs.
— Badgewhore (View Profile)

Posted on 11/20/2008 1:10:40 AM | reply to this comment | Votes: 1

Yes, lets give more business away to foreigners. Lets increase the capital outflow from america. Lets increase our dependence on foreign countries. Let's not allow our companies a little breathing room so they can get back to business which will be a revenue stream INTO america. Lets be short-sighted and ill-informed. Lets be subservient to Japan & Korea.

Shame that we've given the electronics industry away too.
— neutral (View Profile)

Posted on 11/21/2008 11:40:53 AM | | Votes: 2

absurd thought.
— 1UAW (View Profile)

Posted on 11/22/2008 3:05:54 AM | | Votes: 1

GM is currently building a $300 million factory in Russia to build SUV’s, outside of St. Petersburg.
Some of the 25 billion will find its way to Russia.

Lawmakers cannot criticize corporate jet flight use, Nancy Pelosi flies round trip in a government jet every weekend to her house in California at tax payers expense.
— topneuro (View Profile)

Posted on 11/20/2008 8:48:15 AM | reply to this comment | Votes: 1

Russia and the rest of the world are the only reason why GM is still around right now. Don't you dare complain about GM being global, thats what GM was lambasted for years ago. GM has to continue its foreign operations.

You sir have made a very dumb comment. Don't forget, Russians have money to spend and Gm would be dumb not to sell there.
— neutral (View Profile)

Posted on 11/20/2008 5:06:21 PM | | Votes: 2

I take some of my comment back... you are completely right about the government people being hypocrites, my apologies for insulting you.
— neutral (View Profile)

Posted on 11/21/2008 11:42:49 AM | | Votes: 1

Nancy Pelosi is an old whore. There I said it. My only comment in this article. I cannot stand her, or her ideals, she is radical and needs a butt plug put in her mouth. Everytime I see her face I throw up.
— Whelan (View Profile)

Posted on 11/20/2008 9:40:37 AM | reply to this comment | Votes: 4

Let's see, the last time I traveled it took more than 2 hours at the airport before I was even on a plane. The Ford CEO makes 28mil per year. If he had to spend 4 hours in airports for round trip travel, he would be paid $53,840 just waiting for an airplane. $28mil per year works out to be around $13,460 per hour based on a 2080 hourly work year. How long does it take to fly from Detroit to DC, an hour? Based on that, add in two hours for the round trip and $1,000 for a 1st class ticket, it would cost Ford $81,760 if he flew with an airline. Using the $20,000 per flight private jet would cut 4 hours off the travel time since they can literally drive up to the airplane and board. With the $20,000 flight and 2 hours of travel time, it cost Ford $46,920. Ford saved $34,840. I'm not saying I like that fact that he makes $28mil per year and the company's failing, but he IS making that much and Ford has to do what ever they can to utilize his time to its fullest.
— FULEXUS (View Profile)

Posted on 11/20/2008 12:35:47 PM | reply to this comment | Votes: 2

Very interesting viewpoint, I never thought of it that way.

Either way, the media is making WAY too much of the use of the private jets. Yes it was a stupid move, but we can't let that get in the way of saving america.
— neutral (View Profile)

Posted on 11/20/2008 3:20:40 PM | | Votes: 1

he doesn't need to be making that much money when the company is in trouble....
— AMiodynski (View Profile)

Posted on 11/21/2008 11:45:33 AM | | Votes: 1

This is not about GM being global, please read the post before writing something, if you read the post, the bailout or loan is to preserve GM and USA jobs, (51K loss thus far).
— topneuro (View Profile)

Posted on 11/20/2008 9:24:12 PM | reply to this comment | Votes: 1

the big3 are going to have to shed even more jobs to stop loosing so much money, at least until the markets come back a little bit.

Congress would be INCREDIBLY stupid to tell GM to halt all foreign operations or something to that effect. GM makes money in Russia, Russia is helping to stem the losses.

If the Government was serious about helping the US Big3, they would say no Japanese imports for 2009, or impose a hefty tax on all imports to the US for all cars under $30,000. This would level the playing field for a year, and the US taxpayers would be in a much safer position to not have a failed investment. It wouldn't hurt the towns and cities with Asian manufacturing facilities (it would actually help them since they HAVE to produce all the Camrys & Accords) and it would force Americans to give the Big3 vehicles a serious look. Once the buying public had good domestics in their hands, they would think twice about buying foreign in the future.
— neutral (View Profile)

Posted on 11/21/2008 11:37:45 AM | | Votes: 0

"Once the buying public had good domestics in their hands, they would think twice about buying foreign in the future."

The key is " Once the buying public has good domestics" I'll give you that GM and Ford is now starting to build better vehicle's, but it's 1 out of how many vehicle's that are still junk??
I would love to replace my Explorer when I'm ready with a new Ford, but the new models are so cheap and fugly !!!

No thanks
— AMiodynski (View Profile)

Posted on 11/21/2008 11:49:23 AM | reply to this comment | Votes: 0

Neutral, you do make a lot of sense.

I'm mad at the big 3 CEOs, but we do need to save blue collar jobs, and I feel for those people who will be hurt. They work hard every day, and now they will be the ultimate victims of corporate greed.
— mercuryguy (View Profile)

Posted on 11/23/2008 2:42:36 PM | reply to this comment | Votes: 1

Reliance on Forien Manufacturing is the same as reliance on Forien Oil.

Relying on other countries for our standard of living is never a good idea.

Eventually the Asian countries will raise prices just like Opec, and hold wallets ransom.
— mercuryguy (View Profile)

Posted on 11/23/2008 2:46:16 PM | reply to this comment | Votes: 1

Add your Comments

Images hosted in your AgentSpace can now be posted in the comments section using the following syntax (case matters): [img]IMAGE URL[/img]
Example: [img]http://agent001.myautospies.com/images/sample.jpg[/img]

Email Me When Someone Replies To My Message

Detroit Three Beg For Money From Congress After Arriving In Corporate Jets

About the Author

User Comments

Add your Comments

Submit an article

Photo Galleries

Cars

Autoshows

Latest Articles