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http://www.bloomberg.com/apps/news?pid=20601087...
With all due respect to Mr. Schatz, this is NOT a slap in the face of taxpayers. Its a slap in the face of the union employees who made concessions and accepted buyouts to allow Ford, GM and Chrysler to close dozens of plants in their bids to restructure a couple of years ago because we were told THAT was the only way they could save their companies. Its funny how the concessions of the UAW are being largely ignored in this discussion, allowing the GOP to go completely unchallenged when they blame the automakers' plight on overpaid union workers.
probably pay a great deal more (percentage-of-
income-wise) in taxes thaan the CEOs - who no
doubt have plenty of loopholes and tax shelters
to avoid them baaaad ol' taxes.
Ackerman: It's like the guy in top hat and tuxedo who shows up at the soup kitchen.
"Perot has publicly sniped at the automaker's management for its isolation, resistance to change and indulgence in old-boy perks like chauffeured limousines."
http://www.time.com/time/magazine/article/0,917...
what?? I have to eat BREAD???
It's a good thing that Laurence Peter isn't alive today...even he wouldn't have predicted incompetence on this scale.
The same Jackals on wall street who have been bailed out are in part responsible for the OIL Pump and Dump over the last 2 years which has put GM, and pretty much Toyota, Honda and the rest of the car market in the same scenerio.... Inventory with No Buyers..... these Jackals have all gotten bailed out, yet their victims are made to suffer.
The more you look at it.... Chris in Paris is taking the Sarah Palin approach to dealing with Rape Victims by making them have to pay for the rape kits after being raped.... it's absolutely Pathetic.
And people wonder why they'd rather see their industries fail than build something practical and future looking. These assholes can't see past trucks and SUV's and Hummer's because that's what real men drive and real men run the auto industry. Yeah....right into the f'n ground.
Wagoner, Mulally and Nardelli don't have a clue. They don't have any imagination and they don't know how to do anything that is going to accomplish a friggin' thing. But they sure have big, bad ass corporate jets to fly around in and as far as they are concerned, that's all that matters.
Automotive corporate management needs to be flushed and the keys to their planes need to be sold to the highest bidder. These fools shouldn't be trusted with anything more complicated than roller skates. They are useless.
A Real reporter would have reached out and found out how many staff and board members went along for the ride in these company owned jets.
When the 'Real Reporter' found out the number and did the math... they would have realized that there would have been basically ZERO SAVINGS.... if they traveled using the same method Mike Gravel did while running for President.
Personally there is no surprise to me that 'Chris in Paris' takes on the same talking points as the 'tools' on TV do.... nit picking without digging in to the real reason these companies are in crisis.
Gasoline at $3.00 - $3.50 - $4.00 - $4.50 is the ONLY REASON WHY THE BIG 3 ARE SUFFERING..... and it's not just them.... this time next year HONDA, TOYOTA AND HYUNDAI will be in the same position and you can bet that their countries of origin would NOT ALLOW THESE COMPANIES TO FOLD.
There never was an Oil shortage... there never was a Gasoline shortage.... the only shortage that was going on during the rise of OIL over the last 2 years was the SHORTAGE OF REAL REPORTING.
I swear.. the more I think about reading or listening to the babble from Chris in Paris which sounds like its right out of the playbook from Larry Kudlow of CNBC..... along with the sound bites of congressmen attacking these CEO's rather than APOLOGIZING TO THEM for the years of congressional treason against the working class who live and work in the United States is appalling.
And I for one.... am not going to stay quiet any longer.
Fire the assholes, save the millions of jobs affected. No one is buyin cars right now. Toyota was down 28% in September and is gettign ready to get a bailout from the Japanese government. If you can't sell a Toyota with gasoline at $4.00 a gallon, you can't sell a car. Period.
By next week gasoline will be $1.99 for regular ... that will be the highest price nationwide.
Why? --- Trading firms have dumped their oil assets after bankers where put on the hot seat in front of congress over the summer.
Any reporting on this anywhere? --- Of course not !
So even with Gasoline down at the levels they are.... sales across the board are at a stand still.
I am your typical example of the american consumer... I bought a house back in June.. a foreclosure... had a good size down payment and got a mortgage... the house was on the market for over a year.
It currently has oil heat... Oil was trading at $147.00 when I took possession of the house and I signed a contract at $4.70 a gallon for heat and hot water for the year. That translates to $425.00 a month for 11 months.
I am now paying another $500.00 to get out of the contract... but the last 5 months of paying the $425... and all summer long paying $80 - $90 to fill up my family vehicle took its toll... I have no money to spend and I just liquidated an investment last week which lost value over the last year just so I can use the liquidity to pay off my credit cards for a fresh start on the new year.
The stimulous checks my family got last year... that went off to pay off bills. At the time my wife was traveling 100 miles round trip to work.... $3.00 plus a gallon gobbled up all extra funds we had and grew into deficit spending.
I am choking like everyone else out there..... 3 of my friends... all in their 40's are seeking guidance because they need to file bankruptsy.... one of them has 4 kids and they turned off his electric last month. He is a salesmen... spending $150 a week on gasoline took his toll, especially as a majority of appointments he went too where just price shopping and not buying.
The economy is in the tank because of OIL...... and the automotive industry are victims of the RAPING of the economy by the very Jackals who have been bailed out over the past few months who were in large part responsible for the OIL Pump and Dump.
Wasn't it Goldman Sachs last year who first predicted... $90... then $120... then $160 for a barrel of oil? This morning they made an announcement suspending all of their prior oil predictions.... any news organizations other than Bloomberg who reported that at 5 am this morning talking about this? I didn't see a peep on it this morning on CNBC.
But Goldman Sachs is getting Bailout money.... LOL... yet the companies they indirectly drove into the ground are chastised because the CEO's and their entourages of Staff and Board Members flew the private jets they own.
And this Blog's author is blaming the CEO's for a lack of judgement... Pathetic.
The question is what is lost? When 12 people fly on a private jet it costs about $20,000. When 12 fly commercially to DC it costs about $12,000. Is a $8,000 savings worth the time lost?
Isn't it really worth it in the long run?
http://nomedals.blogspot.com
These Lawmakers are so out of touch it is pathetic... as much as I don't want to see the Republicans in charge and am happy they aren't any longer.... I am grinding my teeth in anger at these cheap talking points.
I personally called the offices today of Chris Dodd and Gary Ackerman..... sounding off my disaproval of their cheap shots at the BIG 3 auto execs.
You are dead on with the 12 people flying...... it is cost efficient to take a private jet.