Friday, December 12, 2008

Why Congress wants the Big 3 to get rid of the corporate jets

The reason Congress wants the Big 3 auto execs to lose the corporate jets has nothing to do with saving the companies.  Wal-Mart has 25 corporate jets and is doing just fine thank you.  It won't do the auto companies any appreciable good to fly coach like everyone else.  In fact, it will just waste time.

Congress wants them to get rid of the jets so that members can tell their constituents what a talkin' to they gave those irresponsible auto executives when they cut them a multi-billion dollar check on the public dime.

Dropping the corporate jets does not benefit the companies, but it does cover Congress's own corporate backside.


Lee said...

No doubt you are correct that the reasons Congress wants Detroit to give up such perks have nothing to do with the health of the auto industry.

However, I think the demand is legitimate. Detroit is asking Congress to subsidize its arrogant, irresponsible ways by giving them money take from people who did not want to give it voluntarily -- they bought Hondas and Toyotas. In effect, this is a transfer of wealth from poorer wage workers across the country -- waitresses, hamburger slingers, low-skilled workers -- to a highly protected segment of automotive executives and union workers who earn far more than the national average. (You can get a Democrat to behave like a Republican and transfer wealth from the poor to the rich, so long as it benefits their political clients.)

With all this in mind, is it really too much that Congress ask Detroit, please, let's not rub everyone's nose in the fact that you're getting everyone's money and maintaining your elite arrogant ways?

Anonymous said...

Walmart is doing well and can afford company jets; companies that aren't doing well shouldn't lavish expensive benefits on their corporate leaders and then ask for money when some of the money they want, even if it's not a terribly high percentage could be gained by being a bit more down to earth. That's the whole point.