Posted by
Rich from NW Indiana on Friday, November 21, 2008 3:55:53 PM
Yet another reason not to bail out the auto industry.
GM leases five jets for top executives (down from seven, what sports). Why does any company need its own jets? Especially a failing company. They just don't get it.
Keeping expensive perks that don't make the company any money (in fact costs the company big money) while trying to make cuts to the workforce just cannot be. The unions will never back down if you keep stuff like jets, luxury skyboxes, executive dining rooms and the like. Because if you can afford that, the reasoning will be that no cuts are necessary anywhere. And they will not happen.
Chapter 11 is the best option for the auto industry. The auto industry needs to ditch alot of things starting with management. There is no way you can convince a union worker, a car dealer or the taxpayer to make sacrifices if you are flying to Washington at $20 grand a pop on a private jet to beg for money.
A roundtrip ticket from Detroit to Washington on Greyhound is $162 per person. Wouldn't it show you really mean business if you went to Washington the way most broke people would?
And do us a favor, when you are profitable again, don't be getting all that stuff back again. What do you think you are, government employees?