The Private Jet and The Tin Cup

On November 18, The CEO's of GM, Ford, and Chrysler flew to Washington to beg for 25 billion dollar buyout of their failing auto companies. This move was not shocking as numerous companies across America have gone done the tube during the current economic crises and the auto industry is no exception.

One would assume that these three CEO's would be on their absolute best behavior. After all, it was not a given that congress would give these automakers any money at all. One would therefore assume that these CEO's would try to show congress they were trying to be as cost-efficient as possible in their endeavors, in an attempt to sway congress to believe they truly needed help. With that in mind, read this next sentence from an article found on ABC News:

All three CEOs - Rick Wagoner of GM, Alan Mulally of Ford, and Robert Nardelli of Chrysler - exercised their perks Tuesday by flying in corporate jets to DC. 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.

Wow...

In my opinion, these CEO's are a microcosm of what is wrong with America today. The level of corporate greed and lack of strong decision making has strongly to contributed to the downfall of our economy. How can you fly on a private jet to a meeting, spending thousands of extra dollars and fuel, in which you are begging for billions of dollars? The answer escapes me and the auto industry will likely pay the price.

Good Luck Detroit