Thursday, November 20, 2008

Taking a $36 Million Luxury Jet to Beg Bail Out Capital from Congress

Another scathing report from ABCNews on corporate decadence under a veil of crisis management: CEOs of the big 3 automakers took $20,000 trips on luxury jets to ask Congress for bail out capital instead of flying coach for $500. The GM CEO has his choice of 8 corporate jets and the Ford CEO's wife can use a jet as well.

Congressional response was predictable:



ABCNews also followed up on AIG, which has its own fleet of luxury jets. Here is the more in depth local report on AIG's latest luxury resort conference that Brian Ross drew upon the other day:



I wonder why AIG canceled that appearance by celebrity Terry Bradshaw? Because it would bring too much attention to a conference that might hurt their reputation? And I'm sure Mr. Bradshaw appreciates the fact that he's going to get paid for doing absolutely nothing. Nice work if you can get it.

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