"Show Of Hands"
The Market Ticker ® - Commentary on The Capital Markets
Posted 2008-11-19 14:03
by Karl Denninger
Ignore this thread
"Show Of Hands"
 

How many of the automaker CEOs (and by the way, that includes Gettlefinger, if my viewing of the hearings is correct) travelled commercial to get to Congress yesterday and today?

Zero.

All three CEOs - Rick Wagoner of GM, Alan Mulally of Ford, and Robert Nardelli of Chrysler - exercised their perks Tuesday by flying in corporate jets to DC. Wagoner flew in GM's $36 million luxury aircraft to tell members of Congress that the company is burning through cash, asking for $10-12 billion for GM alone.

.....

GM and Ford say that it is a corporate decision to have their CEOs fly on private jets and that is non-negotiable, even as the companies say they are running out of cash.

Fine.

As a US Taxpayer this is my answer to your request for a bailout:

Is that clear enough or do you need it spelled out one letter at a time?

Discussion below (registration required to post)
 

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User Info "Show Of Hands" in forum [Market-Ticker]
Jparks
Posts: 490
Incept: 2008-04-07
Green
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Aye!!

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"We used to be a country that made ****. Now, we just have our hand in everybody else's pocket." Sobatka, The Wire.
Widgeon
Posts: 13481
Incept: 2007-08-30
Green
Region formerly known as the United States
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Worst Case; They Ought to Have All Travelled Together on ONE Plane.

These folks (and others - AIG, etc.) SENSE of ENTITLEMENT IS OFF THE CHART.

Maple
Posts: 4785
Incept: 2007-09-03
Gold
Southern California
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Get ****ed
Fidgit
Posts: 17784
Incept: 2008-02-18
Green
Tax Unit #1,384,923,781
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All I've heard of these auto hearings is the short sound bites on top-of-the-hour newsradio. Even within that tiny window, the whinage being emitted is stunning.
Genesis
Posts: 130777
Incept: 2007-06-26
Admin A True American Patriot!
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I've had it on in the background all morning.

Its worse than the sound bites.

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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Binney
Posts: 4185
Incept: 2008-08-27
Green A True American Patriot!
Riverhead, NY
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When Wagoner was asked about why he didn't fly commerical he was unabashed and claimed he had other meetings in Detroit that morning.

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write-in: Beelzebub
When you just can't vote for the lesser of two evils any more.
Clovis
Posts: 268
Incept: 2008-03-13
Green A True American Patriot!
PNW
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just heard that on CNN - ****ing disgusting.
Macneib
Posts: 3956
Incept: 2008-01-19
Green
Seoul. What a ****hole
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Aye

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The worst thing about crossing a line is when you don’t know, you already have.
Stormsailor1981
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what suprises me is that anyone is suprised.
Alsace
Posts: 1849
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Gold A True American Patriot!
Bear says: Come Get Some!
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I think rather than a "show of hands" we need a "show of fingers" the middle one will do nicely.
Vmooper
Posts: 1826
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Green
Bailout ville
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Well, it's hard to entertain union hookers on a commercial flight. They had to bring them to grease the Congressional skids.

The MSM and CONgress critters are making a big deal of it.

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"If you don't know where you are going, speeding up is not the answer." -Jeff Macke
"If you bail out everyone, nobody gets bailed out." -Jeff Macke
"Those who make peaceful revolution impossible, make violent revolution inevitable." -JFK
Genesis
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Edited to make it easier for the executives to understand.

----------
I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Fidgit
Posts: 17784
Incept: 2008-02-18
Green
Tax Unit #1,384,923,781
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smiley
Vmooper
Posts: 1826
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Green
Bailout ville
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I like the edit, but Bubba's finger is much thicker and I feel more appropriate. His 11th finger is especially large.

----------
"If you don't know where you are going, speeding up is not the answer." -Jeff Macke
"If you bail out everyone, nobody gets bailed out." -Jeff Macke
"Those who make peaceful revolution impossible, make violent revolution inevitable." -JFK
Genesis
Posts: 130777
Incept: 2007-06-26
Admin A True American Patriot!
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smiley

----------
I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Vmooper
Posts: 1826
Incept: 2007-11-30
Green
Bailout ville
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I would post a picture of Bubba's 11th finger but for two reasons:

1. I don't know how to post pictures

2. This is a somewhat family environment, if you ****ing know what I mean.

----------
"If you don't know where you are going, speeding up is not the answer." -Jeff Macke
"If you bail out everyone, nobody gets bailed out." -Jeff Macke
"Those who make peaceful revolution impossible, make violent revolution inevitable." -JFK
Clovis
Posts: 268
Incept: 2008-03-13
Green A True American Patriot!
PNW
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Storm - not surprised, just disgusted. I fly economy to Asia and Europe even when company policy used to allow Business Class. I would never, ever pay $5k + of my own money for a bit more comfort on a flight so why should I throw away the comapany's money?

Az
Posts: 2386
Incept: 2008-09-22
Green A True American Patriot!
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flight time from Detroit to DC is 1.5 hrs., can't be too harsh of a timeframe to fly first class with the plebs.

Round trip from $288. to $580. stick on another $1,000. for first class and tops out @ $1,500.

On a private jet $1,500. won't even cover the Captain's pay for a roundtrip and overnight.

And think of the damage to the CEO's self esteem to fly commericial, oh the horrors!

http://www.tickerforum.org/smilies/faint....



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Whistleblowers R my heros
Berkleyreindeer
Posts: 665
Incept: 2008-07-22

Minneapolis , MN
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what a show of leadership. "the manual says i have to." losers.

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It'll get worse. Just wait.
Txdomer
Posts: 1254
Incept: 2007-11-07
Green
Ding-dong, the Fed is dead!
Banned
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But, but, if they didn't have those planes, the pilots wouldn't have jobs!

How can you be so callous and short-sighted, Karl?

Seriously, though, there is a special place in hell reserved for these scheisters. They're nothing more than con men now.

Surely, there must be someone in Detroit with three Stinger missles that could do this country a favor.

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Jkilkelly
Posts: 1629
Incept: 2007-07-20
Green
Mercer Island WA
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Can you imagine what will happen to the private jet market as a result of the coming depression?

G-5's on sale at EBAY

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“They say there are no atheists in a foxhole. Well, there are no libertarians in a financial crisis, either.'' Jeffrey Frankel, Harvard economist
Deepsee100
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The Med
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smiley

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Next
Olderobc
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Incept: 2007-08-01
Green
Kenso, Philly
Banned
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****ers should be driving their products there!!!!

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"You can't always write a chord ugly enough to say what you want to say, so sometimes you have to rely on a giraffe filled with whipped cream." -Frank Zappa
Eb
Posts: 370
Incept: 2008-11-11
Green
Virginia
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Support has broken on the S&P. Time for the fireworks to start. :-(
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