Big 3 Automakers Need Lesson in Frugality
With AIG already swimming in billions of taxpayer dollars, the big 3 American automakers showed up with their hands out to Congress wanting a mere $25B. When I say showed up, I really mean that they flew in in private jets from a fleet of several. According to Good Morning America, the cost for them to fly in from Detroit to DC in $36 million planes was an estimated $20,000 roundtrip as opposed to Northwest Airlines $288 for coach and $837 first-class.
Middle-class Americans are having financial problems, too, but there is no bailout for us. We are being told to tighten our purse strings, eliminate extras, review our budgets, etc. If a family has 4 cars, well sell two. If we have satellite or cable TV, well maybe we should cancel those for a while. Cut back on cell phone plans. If you want government assistance, you must first liquidate any extras you have.
We need to hold the corporations who are coming to Congress with their hands out to the same standards. Companies should be forced to liquidate all non-essential perks, like a fleet of jet airplanes, cut administrative salaries and do all they can to trim up the top fat before coming with their hands out. Start cutting at the top. Ford CEO’s salary of $28 million can be cut drastically and he would still live better than most of us. Sell off the fleet of airplanes. That will recoup a couple hundred million dollars, as well as losing the insurance, maintenance, etc. that goes along with owning airplanes.
The foreign automakers in America are not asking for money. If they can do it, then why can’t we Americans do it better?
The time for corporate greed and waste is over. If your corporation is going to come begging for money, you better damn well have used up what you have and trimmed where you can.
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