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CEO's Driving to D.C.

A

Anonymous

Guest
I don't know if any of you saw the Saturday night skit on this but it was hilarious-- how they tried to carpool- but the Caddy fell apart-- then the Chrysler's brakes went out and so on...

Hell of a note- when the Automaker CEO's have to ride in their own products... Times must really be tough :roll: :wink: :lol: :lol:

GM says CEO will drive to Washington

DETROIT (AP) -- This time, GM Chief Rick Wagoner will drive a company car to Washington instead of flying by corporate jet as he seeks a government bailout, a spokesman says.

Wagoner will drive in a Chevrolet Malibu hybrid sedan when he makes the 520-mile trek from Detroit to Capitol Hill, General Motors Corp. spokesman Tony Cervone said Tuesday.

Ford Motor Co. CEO Alan Mulally also is traveling by car from Detroit for his second appearance before two legislative committees as the Detroit automakers seek $25 billion in government loans. Chrysler LLC CEO Robert Nardelli will not travel by corporate jet. A spokeswoman says his travel plans will remain secret for security reasons.

All three executives are returning to Congress for hearings on Thursday and Friday. They are seeking the bailout loans to help them through the recession and the worst sales downturn in 25 years.

Lawmakers criticized the CEOs last month for traveling in separate private jets to seek the loans.

http://hosted.ap.org/dynamic/stories/A/AUTOS_CEO_TRAVEL?SITE=MTBIL&SECTION=TOP_STORIES&TEMPLATE=DEFAULT
 
A

Anonymous

Guest
Oldtimer said:
I don't know if any of you saw the Saturday night skit on this but it was hilarious-- how they tried to carpool- but the Caddy fell apart-- then the Chrysler's brakes went out and so on...

Hell of a note- when the Automaker CEO's have to ride in their own products... Times must really be tough :roll: :wink: :lol: :lol:

GM says CEO will drive to Washington

DETROIT (AP) -- This time, GM Chief Rick Wagoner will drive a company car to Washington instead of flying by corporate jet as he seeks a government bailout, a spokesman says.

Wagoner will drive in a Chevrolet Malibu hybrid sedan when he makes the 520-mile trek from Detroit to Capitol Hill, General Motors Corp. spokesman Tony Cervone said Tuesday.

Ford Motor Co. CEO Alan Mulally also is traveling by car from Detroit for his second appearance before two legislative committees as the Detroit automakers seek $25 billion in government loans. Chrysler LLC CEO Robert Nardelli will not travel by corporate jet. A spokeswoman says his travel plans will remain secret for security reasons.

All three executives are returning to Congress for hearings on Thursday and Friday. They are seeking the bailout loans to help them through the recession and the worst sales downturn in 25 years.

Lawmakers criticized the CEOs last month for traveling in separate private jets to seek the loans.

http://hosted.ap.org/dynamic/stories/A/AUTOS_CEO_TRAVEL?SITE=MTBIL&SECTION=TOP_STORIES&TEMPLATE=DEFAULT

Yes and the Ford CEO will work for $1 a year. No bonus for anyone or merit raises. Sounds like He and Ford are on the way out of this. He also said they need assurances of 9 billion but may not have to use it. Maybe some of our elected officials need to work for minimum wage and pay SS out of it. Might make them represent us better.
 

TexasBred

Well-known member
Flying to Washington in those corporate jets don't bother me as much as Nancy Pelosi flying around in an Air Force Cargo plane with all her family and staff. At least the jet was already there, the pilot was sitting on his butt doing nothing as were those CEO's. Might as well take her out for a rundown.
 

Mike

Well-known member
A corporate jet can possibly be cheaper than flying commercial, especially if there are large numbers of executives needing to get to several different cities on time.

Much quicker too.

The Congressman that made all those statements about the "Corporate Jets" in the last bailout hearing was simply politically grandstanding.

His comments might even get him elected next election. :roll:

We need a test to be able to vote. :lol:
 

kolanuraven

Well-known member
Those jets cost money whether in the air or not.

You still got pay for 2 pilots...insurance..all the maintenance and up keep that goes with them, it's endless.


Really, what the cost would have been from MI to DC.....a drop in the bucket in the overall picture.

If anyone makes that the center of attention...they are sadly misguided.
 

Mike

Well-known member
kolanuraven said:
Those jets cost money whether in the air or not.

You still got pay for 2 pilots...insurance..all the maintenance and up keep that goes with them, it's endless.


Really, what the cost would have been from MI to DC.....a drop in the bucket in the overall picture.

If anyone makes that the center of attention...they are sadly misguided.

I am fully aware of the costs of a corporate jet.

You are paying for those even when flying commercial also though. It's just diluted through more passengers.

Plus the smaller jet costs; fuel, maintenance, insurance, etc. are considerably less than the big ones.

If GM has say 10-12 guys who fly commercial each week, a private jet may possibly be cheaper in the long run. Plus you can get to point "B" from point "A" in a timely manner.

My best buddy is chief pilot in a Falcon 900 for a major corporation, we have talked about this many times.

I'm just saying that congressman made me sick..................

I see where GM and Ford are gonna cave and sell their corpoarte jets. Probably at a big loss now.

They'll just hire NetJets........................
 
A

Anonymous

Guest
Interestingly over the past week- Lou Dobbs (who is an economist)- who is not a fan of the current free trading ways of GW/the neocons- which he thinks is a major part of the economic problem we're in- has had numerous politicians (both R's and D's) and economists (both liberal and conservative) on his show discussing the bailout loans to the Detroit automakers...

The overall concensus of all is that letting them fail is not an option- even if the government had to take partial control of them- as their failure would put the economy into total freefall because of all the connected business and industry which would fall under the domino effect....

An interesting point that was brought up on the show last night was that government- and the taxpayers are already involved in subsidizing many of the foreign owned auto makers- in that many of them have received tax exemptions and special deals with states and cities to draw them into locating there....They listed numerous foreign carmaker factories around the country- and the exemption each was getting....I think the biggest was a $700 million tax exemption Tennessee is giving Toyota (or one of the foreign co.'s) for one plant....
 

backhoeboogie

Well-known member
I don't know if any of you saw the Saturday night skit on this but it was hilarious-- how they tried to carpool- but the Caddy fell apart-- then the Chrysler's brakes went out and so on...

I'd rather see them in the pasture for ten hours listening to that doggone key in the ignition buzzer or the put on your seat belt alarm. There is no way to disable the things. The CEO should have to listen to that crap 24/7 in his work place just like we have to. It would be great to have him sit there in front of congress trying to talk over all those buzzers.
 

TexasBred

Well-known member
OT those are "tax abatements". Not permanent and only for a specific time frame. Not perpetual. It has always been done that way even for a small business. Anything to get them into your town. The tax abatement is far exceeded by what the new businesses add to the local economy especially if they're talking about opening a business in an already economically depressed area. As for Lou Dobbs....he may have a degree in economics but he's no economist. He's a TV personality...nothing more.
 

TSR

Well-known member
Oldtimer said:
Interestingly over the past week- Lou Dobbs (who is an economist)- who is not a fan of the current free trading ways of GW/the neocons- which he thinks is a major part of the economic problem we're in- has had numerous politicians (both R's and D's) and economists (both liberal and conservative) on his show discussing the bailout loans to the Detroit automakers...

The overall concensus of all is that letting them fail is not an option- even if the government had to take partial control of them- as their failure would put the economy into total freefall because of all the connected business and industry which would fall under the domino effect....

An interesting point that was brought up on the show last night was that government- and the taxpayers are already involved in subsidizing many of the foreign owned auto makers- in that many of them have received tax exemptions and special deals with states and cities to draw them into locating there....They listed numerous foreign carmaker factories around the country- and the exemption each was getting....I think the biggest was a $700 million tax exemption Tennessee is giving Toyota (or one of the foreign co.'s) for one plant....

I try not to miss Lou Dobbs and you're right last night was a very interesting show. I believe it was mentioned that the big 3 hadn't had any tax exemptions of that size, maybe none at all. As I have said earlier, I just don't think we can let the big 3 fail, as mentioned, the domino effect would be terrible. I believe they will come through with an acceeptable plan for Congress. They'll have to! Personally I don't think LOANING them 25B is as bad as writing blank checks to the financial institutions for much greater amounts.
 

Mike

Well-known member
Oldtimer said:
Interestingly over the past week- Lou Dobbs (who is an economist)- who is not a fan of the current free trading ways of GW/the neocons- which he thinks is a major part of the economic problem we're in- has had numerous politicians (both R's and D's) and economists (both liberal and conservative) on his show discussing the bailout loans to the Detroit automakers...

The overall concensus of all is that letting them fail is not an option- even if the government had to take partial control of them- as their failure would put the economy into total freefall because of all the connected business and industry which would fall under the domino effect....

An interesting point that was brought up on the show last night was that government- and the taxpayers are already involved in subsidizing many of the foreign owned auto makers- in that many of them have received tax exemptions and special deals with states and cities to draw them into locating there....They listed numerous foreign carmaker factories around the country- and the exemption each was getting....I think the biggest was a $700 million tax exemption Tennessee is giving Toyota (or one of the foreign co.'s) for one plant....

But these "Incentives" to Hyundai, Toyota, Honda, Kia, Mercedes, etc are all State, County, and City paid.

My locality just gave Hyundai a package worth well over a BILLION$. I fought it on the premise that they could have taken that same amount of money..........made low interest small business loans and put more people to work overall.....PLUS got more of the money back quicker.


But this has nothing to do with Neocons or Bush. Nothing. :roll: :roll:
 
A

Anonymous

Guest
Mike said:
Oldtimer said:
Interestingly over the past week- Lou Dobbs (who is an economist)- who is not a fan of the current free trading ways of GW/the neocons- which he thinks is a major part of the economic problem we're in- has had numerous politicians (both R's and D's) and economists (both liberal and conservative) on his show discussing the bailout loans to the Detroit automakers...

The overall concensus of all is that letting them fail is not an option- even if the government had to take partial control of them- as their failure would put the economy into total freefall because of all the connected business and industry which would fall under the domino effect....

An interesting point that was brought up on the show last night was that government- and the taxpayers are already involved in subsidizing many of the foreign owned auto makers- in that many of them have received tax exemptions and special deals with states and cities to draw them into locating there....They listed numerous foreign carmaker factories around the country- and the exemption each was getting....I think the biggest was a $700 million tax exemption Tennessee is giving Toyota (or one of the foreign co.'s) for one plant....

But these "Incentives" to Hyundai, Toyota, Honda, Kia, Mercedes, etc are all State, County, and City paid.

My locality just gave Hyundai a package worth well over a BILLION$. I fought it on the premise that they could have taken that same amount of money..........made low interest small business loans and put more people to work overall.....PLUS got more of the money back quicker.


But this has nothing to do with Neocons or Bush. Nothing. :roll: :roll:

Your state should have given the textile industries tax incentives to stay instead of allowing them overseas. I say that the free traders in congress and the government have nothing to trade but favors and recieve money in exchange. I say screw the free traders.
 

Mike

Well-known member
hurleyjd said:
Mike said:
Oldtimer said:
Interestingly over the past week- Lou Dobbs (who is an economist)- who is not a fan of the current free trading ways of GW/the neocons- which he thinks is a major part of the economic problem we're in- has had numerous politicians (both R's and D's) and economists (both liberal and conservative) on his show discussing the bailout loans to the Detroit automakers...

The overall concensus of all is that letting them fail is not an option- even if the government had to take partial control of them- as their failure would put the economy into total freefall because of all the connected business and industry which would fall under the domino effect....

An interesting point that was brought up on the show last night was that government- and the taxpayers are already involved in subsidizing many of the foreign owned auto makers- in that many of them have received tax exemptions and special deals with states and cities to draw them into locating there....They listed numerous foreign carmaker factories around the country- and the exemption each was getting....I think the biggest was a $700 million tax exemption Tennessee is giving Toyota (or one of the foreign co.'s) for one plant....

But these "Incentives" to Hyundai, Toyota, Honda, Kia, Mercedes, etc are all State, County, and City paid.

My locality just gave Hyundai a package worth well over a BILLION$. I fought it on the premise that they could have taken that same amount of money..........made low interest small business loans and put more people to work overall.....PLUS got more of the money back quicker.


But this has nothing to do with Neocons or Bush. Nothing. :roll: :roll:

Your state should have given the textile industries tax incentives to stay instead of allowing them overseas. I say that the free traders in congress and the government have nothing to trade but favors and recieve money in exchange. I say screw the free traders.

You can't FORCE a company to stay in the U.S.

With the labor rates as cheap as they are in other countries and the Corporate Tax rates as low as they are elsewhere, I can't say as I blame some of them.

We have the SECOND HIGHEST Corporate Tax rate in the world behind Japan.
 
A

Anonymous

Guest
Paulson: Automakers Cannot Fail

Tuesday, December 2, 2008 1:24 PM

U.S. Treasury Secretary Henry Paulson said on Tuesday that the U.S. auto makers cannot be allowed to fail, especially because the country is "far from through" the current economic situation.


"Given the state of our economic situation right now, given how fragile it is, I certainly don't believe -- and no one in our administration believes -- that bankruptcy of an auto company would be a good thing," he said at a meeting of the World Affairs Council.


"We have been very much for a solution that avoids bankruptcy, but it's got to be leading to a viable industry." China has been an important support to the country as it works to survive a financial downturn, Paulson said.


"The Chinese throughout this process and throughout our financial market challenges... have been very responsible partners and stakeholders and continue to stand by us and stand by our debt."

http://moneynews.newsmax.com/streettalk/paulson_automakers_fail/2008/12/02/157274.html
 
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