Quote:
Originally Posted by Guest
their company needs to go into bankruptcy. In Chapter 11 they will be held accountable to the courts how to reorganize and recover to profitability.
If they are given a "bail out" from the government they are accountable to no one to accomplish anything other than continuation of the business and leadership that brought them to this point in the first place.
Ford's CEO having been paid $22 million last year!!!! He lives in Seattle, WA...the company provides he and his wife a private jet in which the commute to and from Detroit to Seattle.
GM has 13 corporate jets that are used daily by their executives....first class commercial isn't good enough!
What will be different with these companies after being given a free handout? Absolutely nothing!!!
The airlines had to go into bankruptcy to survive....let the auto industry do like wise.
The connectivity between these CEO's and the needs of their company are about the same as the connection between our lawmakers in Washington and the needs of the people....non existent.
Talk about change is just that....TALK!!!!!!!!!!!
BTK
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Along these lines it appears they, both sides, just want to be bailed out and will not help themselves....
"CAGW President Tom Schatz appeared this morning on ABC's Good Morning America in a piece by ABC's Chief Investigative Correspondent Brian Ross exposing the fact that auto executives flew to Washington, D.C. in private corporate jets to beg for a taxpayer-funded bailout. In addition, the United Autoworkers Union (UAW) has stated it will not modify contracts or relinquish benefits in order to give automakers the flexibility to restructure and retool. "
http://www.marketwatch.com/news/stor...95A612A52F1%7D