Quote:
Originally Posted by Kunikos
Not flying on a private jet for one day is hardly going to save the company from the brink of failure. It costs, what, $2,500 to operate the jet for one trip in comparison with the $25 billion they need? The mock outrage over this is is really just a political red herring. You think that congressmen don't fly around in private jets all the time?
The real outrage should be over bailing out yet another company without bailing out the shareholders, all while claiming that America is about free market capitalism. Let's all either stop giving that phrase lip service and stop giving hand-outs to inept companies who will fail regardless, or let's go whole-hog socialist and make the Detroit 3 into nationalized auto-makers.
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Most public officials fly commercial as far as I know. First class maybe, but commercial.
If their PR departments had a clue, they would have caravaned up with their accompanying staff in the most modern energy efficient prototypes they have in their fleets. There are so many cost cutting things they could do that would cut burn rates substantially. Selling jets is among them...
And why the heck would you ever bail out the shareholders? The owners of a company are the last concern in any bailout as it should be. That is probably the last piece of capitalism that they have not completely destroyed with these socialist bailouts.
A Pre-packaged bailout is the only way to truly save any of the the little 3 auto names. Breaking labor and dealer contracts is the only thing that will let them restructure to the point where they have a chance to be competitive. And I say little because their market cap is about that of a cup of coffee, or at least the market cap of Starbucks. Yep, F and GM combined are 5B, and SBUX is 5.7B. Don't know what chrysler is, but probably less than GM's 1.7B.