GM, Ford, Chrysler Cling To Their Jets
 Friday, November 21st, 2008  by Connie T.

From left to right: General Motors CEO Richard Wagoner, Chrysler CEO Robert Nardelli, Ford Motor Company CEO Alan Mulally

By now most of us know that the CEO's of General Motors, Chrysler, and Ford flew in three separate private luxury jets (GM's alone valued at $36 million) to Washington, DC to ask Congress for $25 billion in bailout money.

They were scolded by the Capitol and thusfar denied the loan request. Today General Motors said they are putting just two of their five corporate jets out of service after the criticism; Ford had no comment, and Chrysler said they have no plans to change their pricey travel methods.

Today Speaker of the House Nancy Pelosi said that she and Senator Harry Reid are working on a letter to GM, Ford, and Chrysler, giving them lawmaker's expectations before any other financial assistance plan is considered. Meaning, the Big 3 have a shot at at least some sort of bailout.

It's pretty ridiculous that they can't balance supply and demand of their vehicles and refuse to cut out elaborate and unnecessary expenses, yet they may still get government aid. Of course, no one wants to see millions of Americans lose their jobs due to the automakers' financial issues, but if a business can't turn profits and solve crises on their own, what are they doing in business at all? Should the government - and your tax dollars - be a safety net for businesses? Where does it end?

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