CEO's are not going to make a good case. They are all fat cats, and the cutbacks will be on the workers, not executives. They feel they are above all of this.
Wagoner flew in GM’s $36 million luxury aircraft to tell members of Congress that the company is burning through cash, asking for $10-12 billion for GM alone. Wagoner’s private jet trip to Washington cost his ailing company an estimated $20,000 roundtrip. In comparison, seats on Northwest Airlines flight 2364 from Detroit to Washington were going online for $288 coach and $837 first class However, as ABC news reported last night, all three executives flew private jets to Washington, DC, for yesterday’s and today’s hearings Today, the CEOs of the Detroit Big Three returned to Capitol Hill to ask for $25 billion in loans. Testifying before the House Financial Services Committee, General Motors CEO Rick Wagoner insisted, “We’re all slashing back” on non-essential expenses “We’re going to be dramatically leaner.” Later in the hearing, Rep. Brad Sherman (D-CA) asked if any of the executives planned to sell their private jets; none raised his hand |
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