Automaker CEOs Beg For Bail-Out Cash After Fying Luxurious Private Jets

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Apparently the CEOs from the big three automakers (Chrysler, Ford and GM) flew to Washington D.C. yesterday in private luxurious jets to make their case to Congress that the auto industry is running out of cash and needs $25 billion in taxpayer money to avoid bankruptcy.

Their claims that they will likely go out of business without a bailout from the government did not seem to distract them from traveling in style. First class is not even good enough for them.

“All three CEOs – Rick Wagoner of GM, Alan Mulally of Ford, and Robert Nardelli of Chrysler – exercised their perks Tuesday by flying in corporate jets to DC. Wagoner flew in GM’s $36 million luxury aircraft to tell members of Congress that the company is burning through cash, asking for $10-12 billion for GM alone,” reports ABC News.

“We want to continue the vital role we’ve played for Americans for the past 100 years, but we can’t do it alone,” Wagoner told the Senate Banking Committee.

While Wagoner testified, his G4 private jet was parked at Dulles airport. It is just one of a fleet of luxury jets owned by GM that continues to ferry executives around the world despite the company’s dire financial straits.

“This is a slap in the face of taxpayers,” said Tom Schatz, President of Citizens Against Government Waste. “To come to Washington on a corporate jet, and asking for a hand out is outrageous.”

Wagoner’s private jet trip to Washington cost his ailing company an estimated $20,000 roundtrip. In comparison, seats on Northwest Airlines flight 2364 from Detroit to Washington were going online for $288 coach and $837 first class.

What is even more dumb than these CEO’s apparent lack of reality is the fact that the government will probably comply to their requests.