Detroit's auto makers skidding productivity
You can call it "The Black Thursday"! The attempt to obtain an extra 25Billing founds from the taxpayer-financed rescue assistance, failed. The decision came after two days in which the "Big Three" CEOs America's largest corporations plead their case this week before the Senate and House and in front of a national television audience.
In spite of all efforts made by the "Big Three" CEOs - who were unable to come up with a credible plan for financial recovery and profitability - the majority of Senate and House members said: "No... Not so Fast!" unless they show a solid business plan they won't see the money.
It sounds only fair that if you come in front of American's people to ask for help, you should be able to make your case in a credible way and at least show some respect for the majority of regular people who use the public transportation and commercial fly to conduct their regular business. The "Big Three" CEOs looked unprepared and arrogant... "It's almost like seeing a guy show up at the soup kitchen in high-hat and tuxedo. . . ." said Rep. Gary L. Ackerman (D-N.Y.)
The only argument working for them is the perspective of thousands upon thousands of workers who are the victims in this mess,,, losing their job in an economy that is shrinking by days!!!
Arina ~ I agree with your viewpoint on this ~ The CEO's looked unprepared when they went before the Senate, and arriving in their private jets was not the best way travel when you want to show your "workers" you looking out for their best interest. It is to bad because a solution is really needed, and fast.
It seems as if they just expected this to work out for them and that the meeting was a formality. Rude!
If we forget the autos for just a minute - the issue really is the Governments poor oversight of the economy, banking, and non enforcement of laws that caused much of this. That is why it is called a "Credit Freeze!" Many other good companies are going out of business because Congress has turned nation into a circus for their own gain. Get used to it. Next Starbucks, the steelmakers, the rail roads, the airline industries, the grocery stores will all want some money to bail them out also.
There are some new boys in town out in California so I hear. They're into production of highly effecient forms of transportation, small, a start up corporation, no union help, and their own risk capital is at steak. Sounds like the boys in Michigan are in trouble from "now on", so make sure the last guy out turns the light off.
Arina, Representative Gary Ackerman's line back to the three automaker CEO's was a classic!!
I happened to have watched that meeting on C-span and was appalled that they would ask for help and I love that line: ...that it's like showing up at the soup kitchen wearing a tux! Of course, I'm sure they bought the tux in better times---but to wear it at the soup kitchen--is ridiculous to the point of it being laughable--I believe that is called being ludicrous. What planet do this people live on--because the certainly don't live here and now!!!!
Kudos to the guy who asked them how the got to the meeting!!!
I happened to have watched that meeting on C-span and was appalled that they would ask for help and I love that line: ...that it's like showing up at the soup kitchen wearing a tux! Of course, I'm sure they bought the tux in better times---but to wear it at the soup kitchen--is ridiculous to the point of it being laughable--I believe that is called being ludicrous. What planet do this people live on--because the certainly don't live here and now!!!!
Kudos to the guy who asked them how they got to the meeting!!!
I did not see that... I find it hard to believe they were not prepared with a plan.. Maybe to "re-tool" and produce hybrids at a faster pace.. .or SOMETHING!
As far as the corporate jet issue. Most big corporations require the CEO to fly privately for security reasons. Seems excessive, but it is a requirement.