But no this week, GM Chief Rick Wagoner will drive a company car to Washington instead of flying by corporate jet as he seeks a government bailout. Wagoner will drive in a Chevrolet Malibu hybrid sedan when he makes the 520-mile trek from Detroit to Capitol Hill.
Ford Motor Co. CEO Alan Mulally is traveling by car from Detroit for his second appearance before two legislative committees as the Detroit automakers seek $25 billion in government loans. Mullally will drive in a Ford Ka convertible but this story has yet to be confirmed.
Chrysler LLC CEO Robert Nardelli will not travel by corporate jet. A spokeswoman says his travel plans will remain secret for security reasons. Maybe they should share the car ride to avoid any criticism.
All three executives are returning to Congress for hearings on Thursday and Friday. They are seeking the bailout loans to help them through the recession and the worst sales downturn in 25 years.
Some members of Congress have urged the Big Three executives to take major pay cuts as part of the deal. OK maybe a modest cut but no .....
Chrysler Chief Executive Robert Nardelli said he would work for $1 a year, and a similar commitment is expected from GM CEO Rick Wagoner. Ford said it hopes to restructure the company without accessing government loans, but promised CEO Mulally would work for $1 per year if the automaker did access funds
House Speaker Nancy Pelosi, and Senate Majority Leader Harry Reid, ordered them to outline major changes, including the elimination of lavish executive pay. Non lavish executive pay is OK. Blue suits are to go and hair shirts are the dress code for the day presumably.
MSNBC Associated Press
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