CONGRESS TO ALAN MULALLY (FORD'S CHIEF EXECUTIVE),RICK WAGONER(GM'S CHAIR) AND ROBERT NARDELLI(THE HEAD OF CHRYSLER);
We see that:
1. you each came here today by foot
2. you have agreed to forego any salary until we decide you appear responsible with your personal spending habits.
3. you will require our written approval before you manufacture even a door handle on a car
4. you have sold the corporate jets and donated all the money to a save the economy foundation.
5. you will reduce your workforce to 100 people by next Wednesday
So, why are we not convinced that you are deserving or our attention or our money?
ME TO CONGRESS:
1. Why is there this level of oversight (and begging) regarding the auto industry and their request for up to $34 billion, but a free flow of hundreds of billions to banks, other financial institutions and insurance companies with no questions asked?
2. Why do we not get a dog and pony show regarding matters like the estimated $20 billion in year end bonuses that may be handed out from the $125 billion given to keep the financial institutions afloat?
3. Why are you not concentrating your time and efforts on getting money into each of our pockets, making us able to breathe and to walk into a car dealership with funds and a low cost loan?
4. Where is the flow of credit from the lending institutions with the monies you gave them?
5. How can any business plan for the auto industry work until you force the money out of the tightly clenched fists of the lenders and into the economy?
I heard a new estimated figure of government money and guarantees necessary to resuscitate the economy of 7.5 trillion. Let's deal with the bigger picture and let the auto makers go home with tails between their legs and money to survive in a smaller, more efficient, 21st century form until better days come.
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