Auto industry shoots foot and then reloads

At yesterday’s hearings by House Financial Services Committee on the potential bailout for the GM and other US-based auto companies,  the CEOs were asked which of them had flown by private jet into Washington for the hearing. All three raised their hands.

car-money“There is a delicious irony in seeing private luxury jets flying into Washington, D.C., and people coming off of them with tin cups in their hand, saying that they’re going to be trimming down and streamlining their businesses.” — Rep. Gary Ackerman, D-New York.

While it may have been, as one writer described it, a cheap shot — it was no cheaper a shot than Ford CEO Alan Mulally arriving at Capitol Hill in a Ford Fusion hybrid.



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