It was not good public relations when US auto executives took corporate jets to Washington to beg Congress for federal bailout money. Over the weekend, NBC's Saturday Night Live poked fun at them in a car pooling skit. The skit may not be that far from the truth. There apparently is some discussion in Detroit of the auto executives taking a caravan to Washington the next time they ask for money. (NPR)
to the short NPR segment with the SNL skit
>> Update from Reuters: Detroit bailout plans make their way to Congress
>> See: Ford, GM CEO's to drive this time...
>> And: GM, Ford will sell corporate jet fleet
>> Also: Auto CEO's will take $1 salary IF Congress OK's loan
Good to know they are taking Romney's advice...
The need for collaboration will mean accepting sanity in salaries and perks. At American Motors, my dad cut his pay and that of his executive team, he bought stock in the company, and he went out to factories to talk to workers directly. Get rid of the planes, the executive dining rooms — all the symbols that breed resentment among the hundreds of thousands who will also be sacrificing to keep the companies afloat.
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