Hat In Hand, Car Companies Are Back In Front Of Congress Asking For A Bailout

Ken AshfordEconomy & Jobs & DeficitLeave a Comment

This time, they didn't fly in on corporate jets.  They flew business class, and the CEO of Ford drove from Detroit to D.C. in a hybrid. 

In fact, all the CEOs from the Big Three automakers said they plan to sell their corporate jet fleet.  The Ford CEO said he would take a $1 yearly salary, cancel all management employees' 2009 bonuses and will not pay any merit increases for its North American salaried employees next year.

I'm glad they are being serious this time.