Jetset car executives plead poverty
A sharp-eyed reporter for the US TV network ABC spotted that the chief executives of Ford, General Motors and Chrysler all flew by individual private jet to last month’s Congressional hearing at which they ‘pleaded poverty’ and asked for $25 billion of cheap loans.
Brian Ross put the anomaly to GM’s head Rick Wagoner, who said he needed to fly by private jet because of meetings earlier that day. Ross was able to prove Wagoner could have attended his meetings and still flown on a scheduled flight costing $900 for a first-class ticket, instead of the estimated $20 000 round trip on the private jet. Despite this, Congress still approved $15bn, to come from money originally intended for fuel efficiency.
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