Liars, connivers, and deceivers

Politicians aren't the only liars, connivers, and deceivers - just look at the auto manufacturers' CEOs.  Ford, GM, and Chrysler should be forced into bankruptcy, if they cannot survive on their own.  Then, maybe they will emerge as more competitive companies, with better focus, products, and business plans.  As an additional benefit, it would be a great opportunity to disband the archaic United Auto Workers union!

When asked if they would be willing to make personal sacrafices, this was their response:

Ford:

"I think I'm OK where I am," Mulally said when asked if he was willing to cut his own salary. Mulally earned more than $22 million in 2007, according to a Ford regulatory filing earlier this year.

General Motors:

Wagoner said he has voluntarily reduced his salary by 50 percent...  He did not say he was willing to make more significant pay cuts.

Wagoner earned about $15.7 million in compensation in 2007, according to a GM regulatory filing in April.

Chrysler:

When Nardelli was asked during a Senate hearing on Tuesday if he would be willing to cut his salary to $1, Nardelli said: "I'd be willing to accept that."

Nardelli, who was widely criticized for excessive compensation when he was CEO at Home Depot Inc, failed to tell lawmakers that his annual salary at Chrysler was already set at $1 when he became CEO last year. His other compensation is not fully disclosed.

Each of these guys flew private jets to this meeting, at an average cost of $20,000/each, asking for hard-earned taxpayer money to bail their sorry asses out of a pinch.  When Brad Sherman, a California Democrat, ask them if they were willing to sell their jets on Wednesday and fly back to Detroit on a commercial flight, none of them were.  Well, I say let them sell their corporate jets in bankruptcy liquidation!

Full story - Auto execs' private flights to Washington draw ire