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Detroit Execs don't get it.

Posted by: Goodbye on November 20, 2008 at 11:03AM CST

The “Big Three” car company executives flew their private jets to Washington this week to beg for money.

http://www.washingtonpost.com/wp-dyn/content/article/2008/11/19/AR2008111903669.html?hpid=topnews

They blamed the current economy entirely for their financial problems , not acknowledging any management mistakes.

Two of them also defended their $15-20 million salaries - “I think where we are is okay”

Whether it’s a bailout or Chapter 11, these guys should go.

(Sadly reminiscent of the cigarette CEO's standing before Congress reciting "I don't believe that nicotine is addictive")

(the article also gives some embarrassing insight into the 'thought' processes of some of our fine representatives)

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(6) Comments

Posted by: Just a Voice on November 20, 2008 11:23AM CST

I believe in another blog of yours you were in favor of a bailout of the Auto Industry. Has that changed? Just curious.....

Posted by: Goodbye on November 20, 2008 11:48AM CST

It's a real struggle, and I go back and forth. My feeling is that the car companies do not deserve it for a multitude of reasons, but if their demise would further weaken an already scary economy we need to consider it.

Posted by: Just a Voice on November 20, 2008 12:09PM CST

It would / should be a struggle. My main concern would be the loss of jobs. I'm not sure if they do not receive a bailout that their demise will result from that though. I was disheartened by Sen. Reids comments yesterday. Politics should be put aside and compromise should be put to the fore front. Admittedly I have not followed the Reps plan but I don't understand why the initial $25 Billion given to the "Big 3" for development of fuel efficient cars (something that they should have been working on anyway) be diverted to assisting them keeping afloat (so to speak).

Posted by: Goodbye on November 20, 2008 12:30PM CST

JAV, I don't understand that either.

The partisan politics on both sides is disgusting. Obama and McCain both promised to improve bipartisanship. Hopefully Obama can make that clear to Reid and Pelosi and McCain will use his influence to help out on his side.

Otherwise none of our big problems are going to be soled.

Posted by: Fly on the Wall on November 20, 2008 1:01PM CST

Great comments....I agree, it's a struggle. I'm personally fed up with corporate leadership for the reasons Jenius provided...but the thought of a lot of lost jobs isn't appealing either.

If I had to make the call today...I'd let the big three sink.

Posted by: Gerdo on November 22, 2008 7:10AM CST

They will sell a few jets and continue to grovel.

A curious post.

Some bad and some good antics from Detroit for bouncing public opinion.

But let's get to the red meat of what would fix the problems.

Does anyone know: Has the UAW made any attempt to renegotiate contracts that would offer real assistance?

Quadsville