Friday, April 05, 2019

would you have the ignorance to show up to your bankruptcy hearing, in your personal jet? The big 3 CEOs did just that.

On November 18, 2008, auto execs flew to Washington to plead for an additional $25 billion in TARP funds. Congress had already agreed to lend $25 billion from a program to develop energy efficient vehicles.

Congress refused the automakers' request. Senate Majority Leader Harry Reid said the Big Three should return with "... a responsible plan that gives us a realistic chance to get the needed votes." It didn't help the public's opinion of the automakers that the three CEOs flew to DC in corporate jets.

https://www.thebalance.com/auto-industry-bailout-gm-ford-chrysler-3305670

No comments:

Post a Comment