Showing posts with label Automaker CEO's personal jets. Show all posts
Showing posts with label Automaker CEO's personal jets. Show all posts

Wednesday, November 19, 2008

Leave the driving to others

PUT THIS  in the category of, "You can lead some  corporate CEOs to Washington to beg for bailouts of their companies, but you can't make them give up their costly personal entitlements fit for royalty."  That's the ugly moral of an ABC News report that all three princely CEOs of the Detroit automakers flew to Washington in their  companies' luxurious corporate jets.  

Why is that a big deal?  As the ABC report notes, GM's Rick Wagoner, who is seeking $10 to $12 billion to prop up his company, burned up $20,000 of  GM money as the cost of a round trip with his tin cup.  On the other hand, he could have flown forth and back to Detroit, first class, for $837.   Better yet, coach fair on Northwest Airlines, which you and I suffer,  would have been $288. 

Ford's Alan Mulally, paid $28 million,  and his wife have corporate jet perks.  They live in Seattle and Mulally flies home each week end aboard his Ford jet, to spend, I presume, more time with his family.  It's amazing how indifferent they are to spending other people's money, particularly when it is earmarked for their personal comfort and convenience.