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post #1 of 12 Old 11-21-2008, 02:43 PM Thread Starter
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Talking GM to return two leased jets amid criticism

GM to return two leased jets amid criticism

General Motors Corp will return two of its leased corporate jets amid intense criticism in Washington this week on the luxury travel arrangements of its chief executive even as the company pleads for federal aid.

CEO Rick Wagoner was in the capital to testify on the company's dire financial situation but his testimony was overshadowed by irate lawmakers who blasted him for flying on a private jet to ask for public funds and failing to make personal sacrifices in exchange for federal assistance.

Chief executives from Ford Motor Co(F.N), and Chrysler LLC, who were also there to plead for $25 billion in federal aid, came under fire too for flying to Washington in private jets.

GM spokesman Tom Wilkinson said on Friday GM decided to return the aircraft because of a "really aggressive cutback in travel."

The company, which is in a cost-cutting mode, is scrutinizing every trip, he said, but declined to disclose the name of the company it leases the airplanes from.

Wilkinson said the decision to return the leased corporate jets was made before this week's hearings and that the company in September returned two other of the seven jets it had at the beginning of the year.

"There is a perception issue," Wilkinson said of Wagoner's travel to Washington on a private jet. "We need to be very sensitive to that going forward."

He, however, said the company has not decided on what mode of transportation Wagoner would take if had to travel to Washington again.

Wagoner and Ford CEO Alan Mulally are required by their companies to fly by private aircraft for security reasons, according to company documents filed with the U.S. Securities and Exchange Commission.

The policy for Chrysler CEO Robert Nardelli is not required to be disclosed because the company is not publicly traded.

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post #2 of 12 Old 11-21-2008, 03:02 PM
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But these asshats gave AIG more money after their lavish party, er, I mean corporate retreat.

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post #3 of 12 Old 11-21-2008, 03:06 PM Thread Starter
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I hate AIG. Bunch of pricks.

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post #4 of 12 Old 11-21-2008, 03:06 PM
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Meyerand said the three remaining corporate jets would remain at the disposal of "only the very top senior leadership."

Asked if it was not the use of such aircraft by the "very top senior leadership" that occasioned this week's outcry, Meyerand said that was for the media to conclude.

GM's CEO Rick Wagoner, whose round-trip flight to Washington reportedly cost $20,000 — about 70 times what a commercial airline ticket would cost — told Congress he expected GM would get between $10 billion and $12 billion from the requested bailout.

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 one year and damage the economy in communities across the country.

Ford and Chrysler did not comment on their future corporate jet policies, but Chrysler confirmed that it does lease private jets, Reuters reported on Friday.

"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."

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post #5 of 12 Old 11-21-2008, 03:45 PM
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That is why

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Originally Posted by Camaro Scotty View Post
Meyerand said the three remaining corporate jets would remain at the disposal of "only the very top senior leadership."

Asked if it was not the use of such aircraft by the "very top senior leadership" that occasioned this week's outcry, Meyerand said that was for the media to conclude.

GM's CEO Rick Wagoner, whose round-trip flight to Washington reportedly cost $20,000 about 70 times what a commercial airline ticket would cost told Congress he expected GM would get between $10 billion and $12 billion from the requested bailout.

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 one year and damage the economy in communities across the country.

Ford and Chrysler did not comment on their future corporate jet policies, but Chrysler confirmed that it does lease private jets, Reuters reported on Friday.

"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."
bailouts will fail...RICH PEOPLE DO NOT GET IT
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post #6 of 12 Old 11-21-2008, 03:52 PM
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This is so assanine...$20K seriously? Does the media really want to focus on $20 f'n thousand dollars when there's BILLIONS at stake? IF GM were to get $25B, we're talking about .000000008%. The "$200M" salary is only .00008%.
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post #7 of 12 Old 11-21-2008, 08:26 PM
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Quote:
Originally Posted by Devryn View Post
This is so assanine...$20K seriously? Does the media really want to focus on $20 f'n thousand dollars when there's BILLIONS at stake? IF GM were to get $25B, we're talking about .000000008%. The "$200M" salary is only .00008%.


I'm with this guy!!! Someone remembers their math class.... Well.... and their science class too. E=mc2
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post #8 of 12 Old 11-21-2008, 08:52 PM
 
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Congress is more pissed off that the Big 3 came to Washington and had no plan to turn things around for them. They couldn't even say how or why they got the 25 billion dollar number from. They have been giving help in the past and nothing shows for it. This isn't the first time Detroit has asked for money and why should we the tax payer pay for it? We should all get Z06's as repayment.

The Corporate jets they flew in on was just a symbol of the lavish spending and how out of touch they really are. That was a really bad perception they gave out and now they are stigma'd.

I'm sorry but I'm with congress on this one.

They are behind the japs in technology and quality and the sales shows it. Quite frankly they'll never be on par with more progressive auto manufacturers. They should have started thinking about things 8 years ago when Bush talked bout Hydrogen cars at his inaugural address.

I think a chapter 11 restructuring is a good thing, I'm just saddened that it will put some people out of work.

They need to get their act together before going in there and expecting money for nothing.

Think bout it, its like you going to your parents for $$ and they ask why.

I hatem all, this free market bullsh*t and Bush's philosophies and policies have brought this nation to its knees. We are a weak nation now.
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post #9 of 12 Old 11-21-2008, 11:10 PM
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Originally Posted by FirefighterMike View Post
bailouts will fail...RICH PEOPLE DO NOT GET IT
That is the dumbest 22nd post I have seen.

It worked in the early 80's for Chrysler and the Government made 50 million on the deal.

It is a loan, not a BAILOUT/Handout.

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post #10 of 12 Old 11-21-2008, 11:12 PM
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Originally Posted by Got Me SOM View Post
Congress is more pissed off that the Big 3 came to Washington and had no plan to turn things around for them. They couldn't even say how or why they got the 25 billion dollar number from. They have been giving help in the past and nothing shows for it. This isn't the first time Detroit has asked for money and why should we the tax payer pay for it? We should all get Z06's as repayment.

The Corporate jets they flew in on was just a symbol of the lavish spending and how out of touch they really are. That was a really bad perception they gave out and now they are stigma'd.

I'm sorry but I'm with congress on this one.

They are behind the japs in technology and quality and the sales shows it. Quite frankly they'll never be on par with more progressive auto manufacturers. They should have started thinking about things 8 years ago when Bush talked bout Hydrogen cars at his inaugural address.

I think a chapter 11 restructuring is a good thing, I'm just saddened that it will put some people out of work.

They need to get their act together before going in there and expecting money for nothing.

Think bout it, its like you going to your parents for $$ and they ask why.

I hatem all, this free market bullsh*t and Bush's philosophies and policies have brought this nation to its knees. We are a weak nation now.
And that Ladies and Gentlemen is a repost of the liberal media from this evening's news.

Nice regurgetation.

Have an original thought in there?

If you do I would love to hear it.

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