Wednesday, November 19, 2008

Couldn't Have Said it any Better to the Big 3 Automakers

OK so everyone is familiar with the troubles with the Big 3 automakers here in the US. Their business woes have been in the news for weeks. The last couple of days the leaders of Ford, GM and Chrysler are on Capitol Hill asking for government aid in keeping their businesses aflot. Everyone has their own opinions on whether they should receive a taxpayer financed handout, myself included, but in watching the Congressional hearing this morning I thought the Senator from New York made a wonderful point when addressing the leaders of the Big 3.

He said "I think there is an irony in seeing private luxury jets flying into Washington DC and people coming off of them with tin cups in their hand saying that they are going to be trimming down and streamlining their businesses. It's almost like seeing the guy show up at the soup kitchen in a tophat and tuxedo. Kind of makes you a little bit suspicious as to whether or not we've seen the future. And it causes some of the Senators to think have we seen the future.

There's a message there. Couldn't ya'll have downgraded to first class or jetpooled to get here? I mean it would have at least sent a message that you get it. If you are going to streamline your companies, where does it start? It would seem to me that as the CEOs of these companies that you cant set the standard of what that future is going to look like. That you are really going to trim the fat. That you dont need all the luxuries and bells and whistles. Causes us to wonder."

I don't think anyone could have said it any better. There aren't any American taxpayers that want to finance private jets and luxury vacations.

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