Let’s look at one segment of why the automakers were big targets last week in Senate and Congressional hearings. There was one glaring reason, according to the politicians, that showed the incompetency of the automaker CEO’s. The executives flew corporate jets to the hearings. They took huge amount of flack for being insensitive and wasting corporate assets while asking for a $25 billion dollar loan.
David Axelrod, on ABC said yesterday morning:
We all have a stake in the survival and the prosperity of the auto industry. Millions of jobs depend on that.
But in order to do that, they’re going to have to retool and rationalize their industry for the future. And if they don’t do that, then there’s very little that taxpayers can do to help them.
So, my hope is that the Big Three auto executives come back to Congress in early December — hopefully on commercial flights — and come back with a plan, and not just an expression of need. And if they do, that Congress will respond.
Here’s the idiocy in two segments:
A. But in order to do that, they’re going to have to retool and rationalize their industry for the future. And if they don’t do that, then there’s very little that taxpayers can do to help them.
Is it possible that the CEO’s who have to stay abreast of industry moves on a daily basis, might have assumed that The Hill staffers might have at least read the industry press releases and magazines to prepare their officeholders? If they had at least done that at least two of the three, as I won’t speak for GM as I haven’t done any research, have announced far and wide their intent and broad plans. The only reason they need any money whatsoever is that they can’t get the normal ‘rollover operating loans’ that any huge industry uses on a daily basis. Ford, as my earlier article shows is the most explicit and far reaching about their plans.
B. So, my hope is that the Big Three auto executives come back to Congress in early December — hopefully on commercial flights —
Ok. What the hell does Axelrod think happens on a private corporate jet going from point A to point B? It’s the same damn thing that happened on his campaign plane! The working team is there doing just that…working! The CEO, in this case Obama, is working the phones to raise money and spending valuable time with staff to create plans and policy.
Now the CEO’s of three of the biggest companies in the US are supposed to take hours out of valuable day, in the middle of crisis, to fly on some dingbat, usually late, commercial flight without their team and unable to make any cel phone calls to do business.
The CEO’s who are seeking a loan. In normal times they would be flying to their bankers, or the bankers would be coming to them, and they would be using their own transportation. Now because the CEO’s are seeking a federal loan, they have to come on commercial flights, waste their time and do all that when they are supposed to working 24/7 to find answers to the situation.
It’s idiotic and exactly counterproductive to the task we all want them to achieve; prosper and keep millions of Americans at work. The Congressional research staffers let their bosses down by ill-preparing them. The CEO’s, I would imagine, didn’t anticipate the fact that The Hill knew so little of their plans and therefore didn’t prepare specific business plans. They would also think that flying to DC on corporate jets was the best possible use of their working hours.
This is politics at it’s worst. This is taking aim at an easy target while not doing your homework to prove the essential basis for your emotional, easily sold attack on method of transport is invalid.
[I realize this will be an unpopular stance in the ‘progessive’ community. But attack one group because they are easily attacked while bailing out others isn’t ‘progressive’ or productive.] Part 3 next