no bailout for you

I would like to thank Rep Brad Sherman of California for pointing out the irony in the auto companies action this week.

He asked the three CEOs (GM, Ford & Chysler) to "raise their hand if they flew here commercial."

None did.

"Let the record show, no hands went up," Sherman said. "Second, I'm going to ask you to raise your hand if you are planning to sell your jet in place now and fly back commercial. Let the record show, no hands went up."
The executives did not specifically respond to those remarks. In their testimony, they said they are streamlining business operations in general.

The CEO's are coming to Washington, begging lawmakers to give them money for a bail out, but they are flying all over the place, using private jets? When they talk about "cutting back," do they even know the definition of cutting back?

"There is a delicious irony in seeing private luxury jets flying into Washington, D.C., and people coming off of them with tin cups in their hand, saying that they're going to be trimming down and streamlining their businesses," Rep. Gary Ackerman, D-New York, told the chief executive officers of Ford, Chrysler and General Motors at a hearing of the House Financial Services Committee.

"It's almost like seeing a guy show up at the soup kitchen in high hat and tuxedo. It kind of makes you a little bit suspicious." He added, "couldn't you all have downgraded to first class or jet-pooled or something to get here? It would have at least sent a message that you do get it."

The auto industry, important to the US? Yes. But they have long thought they were invincible, and that, my friends, needs to change.