BREAKING NEWS! BREAKING NEWS! BREAKING NEWS!
General Motors has just announced that it is returning two leased jets, after Congressional members criticised there high end travel arrangement to Washington DC this week. As executives of the Big 3 (GM, Ford and Chrysler) approached the U.S Government for a Federal Bailout Loan/Aid, after the session with Congress the executives have been hit hard with a wave of negative publicity.
As many taxpayers have put plainly, it just didn't send the right message as there companies are on the brink of Bankruptcy.
GM spokesperson Tom Wilkinson made a statement today that GM has made a decision to return two more of the companies seven leased jets it had at the beginning of the year, because of a "aggressive cut back in travel". Mr. Wilkinson said that the decision to return the leased jets was made before the congressional hearing and that the company returned two other jets in September.
It should be noted that the top executives at GM and Ford are required by their companies to fly private aircraft for security reason, according to it's filings with the Security and Exchange Commission. Cerberus the company that owns Chrysler, since it is private does not have to disclose it's requirements.
All of this begs to question the grasp that Mr. Wagoner has on the company, if a decision had been made to cut back why not state that at the hearing and lesson some of the negative face that was sure to be painted when the question was asked. If the decision had been made on effectively cutting more than half of your corporate jet fleet, that sends a clear message that the company is making changes.
Ford has not made a statement regarding any cutbacks in the use of it's corporate jets. It should be noted that Mark Fields, President of Ford North America, relinquished his use of a corporate jet nearly two years ago as criticism mounted when Ford was making huge cutbacks and losing billions of dollars.
I said it once and I will say it again, next time Mr. Wagoner, Mr, Mulally and Mr. Nardelli, fly into Virginia or Maryland and drive in or drive from New York or Detroit with a caravan of your latest products and future products with your business plan in hand demonstrating your commitment to be good stewards of the taxpayers money.
Enjoy Today!
That Car Guy
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