This past week’s Capitol Hill auto industry bailout hearing got a bit testy when Congressman Paul Kanjorski asked GM CEO Rick Wagoner how much money he’d need to keep the company afloat from now until March 30th. A follow-up question concerns the corporate jets with which the Detroit’s Big 3 CEOs, GM’s Rick Wagoner, Ford’s Alan Mulally, and Chrysler LLC’s Robert Nardelli flew into Washington. Apparently, the Congress was annoyed by the fact that the CEOs preferred an estimated $20,000 private flight from a $900 first-class round trip with a commercial airline. Watch both videos after the jump or click here for details on how the Big 3 failed to convince the Congress to loan them $25bn in government money.
Paul Kanjorski Pounds GM’s CEO
Congress Asks CEOs About Corporate Jets