I like this news article

[zoiks]

Originally posted by: Jeeebus
it's a little bit of the pot calling the kettle black, though, given the perks that Congress takes advantage of on a daily basis. Understandably, on the individual level, they don't equate to riding around in a private jet, but given the 550+ Congressmen and the luxuries they're afforded (like personal sedan service), I'm sure it adds up.

Yes, but they're not the ones 'suffering' or asking for money. The car manufacturers are.
I agree that we shouldn't bail them out.

 

[irishScott]

Originally posted by: jemcam

Originally posted by: irishScott
lol. If I ever get rich enough, the only plane I'll ever indulge in is a surplus fighter so I can pull serious Gs whenever I want. Then I'll get some black market ordinance and scare the living shit out of these asshole with a few near misses.

Black market local laws? WTF is that and how are you going to scare someone with a near miss of one?

Meant ordnance. My bad.

 

[wwswimming]

yeah. definitely a stupid move. they basically handed a slow pitched softball over
home plate to Barney Frank, or some other legislator. if the government does
send some money GM's way, Barney will now look much more reasonable talking
about putting a cap on exec. pay.

i wonder what they'll cap it at. $500K ?

 

[ElFenix]

Originally posted by: Gooberlx2

Originally posted by: dartworth
I still don't see what the big deal is...



/shrug

I guess there's two sides to the coin.

On one side it shouldn't be a big deal, and it does distract from the debate and core issues of why they're there.

On the other side it seems to show an absurd disconnect these execs have from the state of the people, the economy, their predicament and the nature of their request; and shakes confidence that they're really going to make the decisions/changes needed to be able to dig themselves back out with this money when they exhibit such wasteful behavior/"policies".

It's just digusting to see and easily elicits an emotional response.

t these guys get paid in the $10,000 per hour range. so if they saved two hours in security/airport delays/whatever, they broke even. and that is before including the cost of flying the entourage that these guys surely have. so the auto companies probably came out ahead by flying a private jet compared to commercial.

 

[frostedflakes]

Originally posted by: wwswimming
yeah. definitely a stupid move. they basically handed a slow pitched softball over
home plate to Barney Frank, or some other legislator. if the government does
send some money GM's way, Barney will now look much more reasonable talking
about putting a cap on exec. pay.

i wonder what they'll cap it at. $500K ?

Hah, good luck with that. I doubt it will happen.

 

[rgwalt]

A ride in the company jet is a drop in the bucket people... I'm not saying I'm for the bailout, but keep sight of the bigger picture.

R

 

[Zee]

no, it shows how out of touch with reality these rich elitests are. and why the companies should be forced to fail. and restructure.

 

[Argo]

Many companies require their CEOs to fly private jets. It's a fairly common practice.

 

[Passions]

Mullay is new on the job at Ford, he really has no reason to be roasted like that.

 

[Kroze]

I hope they fail and go bankrupt

 

[frostedflakes]

Originally posted by: Passions
Mullay is new on the job at Ford, he really has no reason to be roasted like that.

It's kind of sad, not much different than the hearings with banking CEOs about the financial crisis. Congress loves to point fingers at everybody except themselves.

 

[Gibsons]

Originally posted by: ElFenix

Originally posted by: Gooberlx2

Originally posted by: dartworth
I still don't see what the big deal is...



/shrug

I guess there's two sides to the coin.

On one side it shouldn't be a big deal, and it does distract from the debate and core issues of why they're there.

On the other side it seems to show an absurd disconnect these execs have from the state of the people, the economy, their predicament and the nature of their request; and shakes confidence that they're really going to make the decisions/changes needed to be able to dig themselves back out with this money when they exhibit such wasteful behavior/"policies".

It's just digusting to see and easily elicits an emotional response.

t these guys get paid in the $10,000 per hour range. so if they saved two hours in security/airport delays/whatever, they broke even. and that is before including the cost of flying the entourage that these guys surely have. so the auto companies probably came out ahead by flying a private jet compared to commercial.

I don't think that reasoning, er... flies.

Why is a company that's begging for money paying someone in the 10k/hour range? If he's worth so much, why does he need an entourage as well? Beg for money after the CEOs pay has been cut and after his entourage has been fired and after they've sold the private jet.

 

[alkemyst]

Originally posted by: Pandamonium
Banking affects far more industries than auto manufacturers. Besides, the big three have been circling the drain for quite some time now. I say just let them go. If their major selling point is "we're American", something has to change.

It's not about selling point though...it's about what happens to all those displaced jobs and pending foreclosures/welfare it causes.

Be that as it may...I don't think we can survive unless someone takes this in the ass.

You can't bail out everyone and not think everything else will just rise in price.

This was the same result of the mentality that people didn't see when everyone started becoming 2-3 breadwinner homes. People thought they'd just be able to gobble up all the extras they never had.

Now we have $60k trucks and the average home is several times a single income usually.

 

[alkemyst]

Originally posted by: ElFenix
t these guys get paid in the $10,000 per hour range. so if they saved two hours in security/airport delays/whatever, they broke even. and that is before including the cost of flying the entourage that these guys surely have. so the auto companies probably came out ahead by flying a private jet compared to commercial.

That's a big if and you can't always count your income during off time. This is how pizza delivery dudes project making $25-30/hr a few hours, a few days a week in to them claiming they make $50-75k a year.

Chartering a jet is one thing, when you own a few it's a bit excessive...esp if you understand what goes into the maintenace of a jet even if you aren't using it due to regulations.

 

[GeneValgene]

they should have plane-pooled...all three of them can fly one corporate jet. no need to take three

 

[Chadder007]

Originally posted by: effowe
Yeah, I was watching a clip from the hearings yesterday and one of the guys on the committee asked "By a show of hands, how many of you flew commercial to get here?... Let the record show that none of them raised their hands."

Well wouldn't they have to fly their private jets by contract with the Union. :laugh:

 

[dquan97]

CEO pay:

GM - $15.7million
Ford - $22million
Toyota - $903,000

Video of CEO of Japan Air making $90k

 

[foghorn67]

Originally posted by: Passions
Mullay is new on the job at Ford, he really has no reason to be roasted like that.

Nobody realizes this.
Also, he isn't a typical CEO. He'll do things to motivate people that others are too afraid to do.
He showed up on his first day at work driving a Lexus. He said to Ford if they start building a car as decent as this, he'll start driving one.

He was a Godsend to Boeing sales, who was loosing too much business to Airbus. Before that he was the project manager for the 777. One of the few all new commercial airliners that made the business of building jets look easy.

 

[JTsyo]

Originally posted by: dquan97
CEO pay:

GM - $15.7million
Ford - $22million
Toyota - $903,000

Video of CEO of Japan Air making $90k

If you made 15 million last year, do really need to get paid ever again?

 

[alkemyst]

Originally posted by: JTsyo

Originally posted by: dquan97
CEO pay:

GM - $15.7million
Ford - $22million
Toyota - $903,000

Video of CEO of Japan Air making $90k

If you made 15 million last year, do really need to get paid ever again?

well considered probably many of the world's elite lost much more than that in the past few years, then yes.

Not that I agree with CEO's running losing companies making big dough.

 

[Eli]

LOL @ Jet-pool.

 

[alkemyst]

Originally posted by: Eli
LOL @ Jet-pool.

what's funny about them?

 

[dquan97]

Originally posted by: alkemyst

Originally posted by: JTsyo

Originally posted by: dquan97
CEO pay:

GM - $15.7million
Ford - $22million
Toyota - $903,000

Video of CEO of Japan Air making $90k

If you made 15 million last year, do really need to get paid ever again?

well considered probably many of the world's elite lost much more than that in the past few years, then yes.

Not that I agree with CEO's running losing companies making big dough.

If I was a CEO of a crashing company, I'd change my salary to $50,000 just to set an example of extreme cost-cutting.

 

[alkemyst]

Originally posted by: dquan97
If I was a CEO of a crashing company, I'd change my salary to $50,000 just to set an example of extreme cost-cutting.

And I am sure you help every old lady cross the road you see....

Here is the rub, a CEO just can't find another job. If his company is going down the tubes he may be thinking like a rat in a barrel of water.

Again I don't agree with it, but at the same time I see their logic.

The problem is someone definitely has to absorb this...they have to. We can't just pump billions into the economy, erases billions of mortgage debt, etc to turn every loser into a winner.

I think this country SERIOUSLY needs to reevaluate it's welfare and assistance programs. It's extremely easy for those doing nothing and will never do anything to get aid, find cheap housing, get health care for free....meanwhile one of us 'working men' hit a rough patch and are laid off, fired, job closes and no one has any open doors for us. We are told with 'your degree and experience' we can just help you with your resume...here is a couple hundred a week for a few months, you can go on COBRA out of your own pocket...but you don't really qualify for the free health care, etc.

 

[JJChicken]

Originally posted by: vi edit

Originally posted by: sohcrates
those guys basically walked into a slaughterhouse. makes for good tv though that's for sure.

I watched the clip and it was more of a "Roast the Autoexec" inquisition than anything else. I just don't understand why these guys got their balls busted like they did but the banks basically got a blank check handed to them.

There were some personal vendettas at play there that underscored any legitimate issues.

Bolded for Truth.