Anyone catch that Congressional hearing with the Big 3 automakers on Wednesday?
You know the one I'm talking about. The hearing where each of the three once titanic captains of industry were reduced into the equivalent of a teenager asking for extra allowance to buy beer for a Friday night football game.
Yes, they were that dumb.
The hearing that was attended by just about every House member on the Financial Services Committee, telling anyone who knows anything about Washington that these legislative sharks smelled blood in the water.
The hearing where GM and Ford Presidents Rick Wagoner and Alan Mullaly refused to accept the $1 a year salary offer made by Chrysler President Bob Nardelli, losing a second offer by Congress to see if Detroit's leaders would grab onto a rhetorical lifeline.
The hearing where NYC Congressman Gary Ackerman delivered the line of the month (yes, I heard Obama and McCain on election night, but Ackerman has a clear winner here) with this full-frontal assault on these executives masquerading as 21st Century's three blind mice "There’s a delicious irony in seeing private luxury jets flying into Washington, D.C., and people coming off of them with tin cups in their hands saying that they’re going to be trimming down and streamlining their businesses. It’s almost like seeing a guy show up at the soup kitchen in high hat and tuxedo. Couldn’t you all have downgraded to first-class or jet-pooled or something to get here? It could have at least sent a message that you do get it.”
And, yes, the hearing where none of the business bigwigs volunteered to take a commercial flight back home, following the hearing.
Who among us will be enterprising enough to spend some time at the private air terminal at Reagan National Airport, logging the tail numbers on corporate jets in order to see who is still burning company cash on expensive travel.
And this is about cars, the future of American industry, and the American worker? No wonder the Japanese auto industry, and now the Korean manufacturers, continue to lead the way with innovation and design.
Amtrak, anyone?
Thursday, November 20, 2008
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