Auto Execs Fly In Style, Then Beg
Detroit’s auto executives might be in Washington pleading for billions in taxpayer bailout cash, but that doesn’t mean they’re going to give up a
Jul 31, 2020441 Shares440.9K Views
Detroit’s auto executives might be in Washington pleadingfor billions in taxpayer bailout cash, but that doesn’t mean they’re going to give up a lifestyle.
ABC News reported todaythat the CEOs of Ford, Chrysler and General Motors continue to travel on private jets, even as their companies crumble around them. For GM head Rick Wagoner, ABC said, the round trip from Detroit to DC will run $20,000.
Not that saving 20-grand is going to help a company that’s tearing through $5 billion per month. But in a town where appearances mean a lot — and where congressional critics already have executive compensation on their radars — the news of the lavish travel arrangements is sure to grab the attention of more than a few already-skeptical lawmakers.
Camilo Wood
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Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing.
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