Thursday, December 4, 2008

CAR TALK -or- A Tale of Two Cities..Detroit vs. Washington


A couple weeks ago the CEOs of the big three American auto manufacturers went before a DC committee to ask for a 25billion $$$$$$$$ loan to stay afloat. One cheeky congressman inquired how they had travelled to Washington. Did they all fly solo in corporate jets? He wondered if they couldn't have "jet-pooled" or "downgraded to first class"? They were left without an answer to satisfy this guy. They were sent home hat in hand, (or would have been if anyone wore hats, I don't think they were wearing stocking caps for cold weather). They must have felt they were being "dissed" like former CEO of GM Roger Smith when Michael Moore followed him around with the camera rolling. The movie, "Roger & Me" was viewed by some as entertaining. Others strongly disliked Mr. Moore. I think we could count Mr. Smith in the later category.

The auto execs had misjudged the mood in this country. They hadn't noted Madame DeFarge knitting in the front row. We have turned on the Fat Cats. People with luxurious lifestyles are suspect. Execs with big salaries, stock options and lifestyles who don't properly manage their corporations are reviled. We have short memories that they may have enriched us in our IRAs. Maybe that is because those IRAs have shrunk. People with private Gulf Stream jets are ridiculed. Some of those TV preachers better tone it down. The mood is getting ugly.


No one asked how the congressmen get home for the weekend. Any of them hitching rides on someones corporate jet?
The auto executives were denied the 25billion $$$$$$$$$$$ and told to come back with a plan. The country wasn't going to give them a blank check to temporarily survive. We might help if their corporations were viable. That seems reasonable to me.
Now they are coming back. I can imagine the frantic behind the scenes planning.
One CEO wanted to take Amtrak like Joe Biden.
They wondered if using the company helicopter to get to the Amtrak station would be criticized.
An assistant suggested taking a cab to the Amtrak station. That raised questions about the maker of the taxi. Were there any Checker cabs still in service? The whole idea of taking a cab to the Amtrak fell apart when someone thought they spotted (filmmaker) Michael Moore by the front door. http://en.wikipedia.org/wiki/Roger_&_Me
They considered commercial air. Which one bakes the chocolate chip cookies?? Will using the executive lounge at the airport be viewed as elitist? How is the weather? These are busy guys with meetings. They couldn't be held up at the airport waiting for de-icing or being rescheduled when bad weather cancelled their flights. What to do? Someone suggested driving. It is a ten hour drive. Aha. That is faster than flying.
Done deal. We will drive, they said. What to drive? Everyone wanted to be seen driving a car made by their own corporation. Did you know they make Dodge Durango hybrids? Hummer hybrids? Just ask Gov. Arnold, he has three. They couldn't agree to car pool and each will drive separately. They are all coming to town in a hybrid they produce. I doubt they will drive their own vehicles. If their chauffeur drives, they can use the HOV lanes and make good time. I hope they remember Madame DeFarge in the front row knitting and have the chauffeur dress down. Worn denim and a J Crew sweater would be nice. http://en.wikipedia.org/wiki/A_Tale_of_Two_Cities
Now the auto executives are back and looking properly contrite and humble. Maybe congress will receive them and show respect. They still don't wear hats but now they want 34 billion $$$$$$$$. Can we turn the clock back, ignore the corporate jets and settle for 25 billion?

Roger Smith is probably relaxing over his morning coffee grateful he is retired. If his wealth is tied up in GM stock that may not be true.

Has anyone seen Michael Moore lately? He wasn't the one in the front row knitting, was he??
PS. If you don't know who Madame DeFarge is, you were asleep in high school English class.

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