Three Stooges of American Auto Industry Need to Go Before Any Bailout

Meet the three stooges of the American Auto Industry:  Richard Wagoner (CEO, GM), Alan Mulally (CEO, Ford), Robert Nardelli (CEO, Chrysler).

Maybe this is piling on, but how can three “accomplished” CEOs lack such basic common sense?  Hello?  Did they really fly in private jets to Washington DC with a tin cup asking for a handout from the government?  Yes, they did.  Have you ever walked past a pan handler counting a wad of cash?  I have.  It does NOT conjure up a lot of sympathy.

Right now, the three auto stooges have one important job:  Salvage their companies with a bailout loan from the government.  They should be conjuring up as much sympathy as possible from the politicians and their constituents.  I thought these were smart people.  Maybe they really are completely out of touch with the real world.  They looked truly dumbfounded when confronted by Rep. Gary Ackerman, D-New York about the private jets. The only lame excuse was by the companies’ spokespersons, saying that these men travel in private jets for security reasons.  Really?  Come on.

In one of the most embarrassing American moments ever, Rep. Brad Sherman, D-California, pressed the private-jet issue at Wednesday’s hearing, asking the three CEOs to “raise their hand if they flew here commercial.”

“Let the record show, no hands went up,” Sherman said. “Second, I’m going to ask you to raise your hand if you are planning to sell your jet in place now and fly back commercial. Let the record show, no hands went up.”

It is estimated that each CEO’s flight cost around $20,000. 

Now, the media is having a field day, and the politicans are shaking their heads.  Maybe they really are clueless in Detroit.   Later, Senate Majority Leader Harry Reid reversed plans to hold a test vote on the measure because it obviously would fail. 

My question is why would we trust Curly, Larry and Mo to change the state of the three US auto makers’ fate with taxpayers’ money?  They seem too ingrained in a bad system that has gotten them into trouble in the first place. Get rid of the three stooges and start changing the ridiculously lavish, inefficient culture within the US auto makers.