All three CEOs made the trip to Washington in high-mileage hybrid vehicles—the types of cars critics say the Detroit Three should have been making more of instead of becoming enamored of higher-profit, less fuel-efficient vehicles like SUVs and Hummers.
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Ford announced Tuesday that it will sell its five corporate jets, and GM said it would close its corporate jet operations on Jan. 1 and try to sell the remainder of the lease time on its seven aircraft.
Ron Gettelfinger, head of the United Auto Workers, will once again join Wagoner, Nardelli and Mulally before Congress. He is traveling to the hearings in Washington on a commercial flight, just as he did two weeks ago. Gettlefinger has typically traveled to other union business on commercial flights but is often seen driving to events near Detroit with his wife.
Not just another car ride for GM CEO Wagoner
Well, I appreciate that these guys are willing to make the symbolic gesture of actually driving to Washington, but it does nothing to change my opinion that ZERO taxpayer money be given to bailout failing businesses. The problems at GM, Chrysler and Ford are self-inflicted and they need to do what any other business would do - file bankruptcy and reorganize.
Either they can get their costs down and compete with the rest of automakers or they simply need to go the way of the buggy makers a century ago. Not a dime of taxpayer money should ever be given to any business or industry.
Why is this so hard to understand?