GM, Ford Will Sell Corporate Jet Fleets

Ford and General Motors will sell their fleet of corporate luxury jets, the two struggling auto companies announced today.

The move comes two weeks after ABC News revealed Ford CEO Alan Mulally, GM CEO Rick Wagoner and Chrysler CEO Robert Nardelli traveled to Washington in private jets to plead poverty and ask Congress for $25 billion in taxpayer money. Click here to watch the story.

In a statement, GM said, "Due to significant cutbacks over the past months, GM travel volume no longer justified a dedicated corporate aircraft operation."

Read the whole story here.

Comments

[funkalicious]

Sucks to be a jet pilot, and corporate jet mechanics kid today.

[NWBrunette]

Right... and they're not going to buy a replacement fleet of corporate jets until... when... what was that you say? ... oh... ah... until after the bailout is received. Oh I see.

[XME]

If only the CEOs of the big banks had been given such a hard time before we handed over $700 billion for Paulson to dole out to them! The double standard is pathetic.

[NWBrunette]

It takes the public more than a few minutes and a few hundred billion dollars to wake up. After all, half of them voted for George Bush twice. They seem to be doing a tiny bit better in this case.

[RJII]

I see the multi-million dollars spent on a PR agent is working out.

[dandypuddin]

We'd rather you sell some cars.

[karela]

Who'll buy them? And at how much of a loss? Besides, as soon as business picks up, they'll buy new ones for a whole lot more money. I'd rather see them park and preserve at least a couple of them for future use. I have a feeling this is more about PR then about saving money in the long run.

[drkazmd65]

Yeah,... wouldn't it be more cost-effective to lease them out to rich individuals, or for other not so inpovershed corporations?

Generate a small revenue stream for the company, keep the pilot employed, enough to cover maintence costs.

[kellygrrrl]

I'll believe it when I see it. I highly doubt these CEOklowns will be shopping at Target and flying coach

[itisover]

they would sell their mom to get that $25 billion.

it seems like obama is gonna do worse than bush.

what will be our budget deficit in 4 years?

you can say buh byte to any retirement.

[dandypuddin]

We have to spend our way out of this mess for a while. It is the only way out of the black hole Wall St. created.

[NWBrunette]

any kool-aid left or did you drink it all?

[Sundialsvc4]

That is perfectly stupid... OF COURSE a company as diverse as General Motors and/or Ford have good reason to use a fleet of corporate jets!

[gcallaghan]

What percentage of their use do you think results in outcomes unreachable by other means? Meetings can be held at a moments notice through videoconferencing at a mere fraction of the cost of the fuel used by a GV on a 1 hr trip.

These guys come to us pleading poverty. If they are the businesses geniuses they're acclaimed to be then they would have already adopted austere measures to control costs beginning with eliminating extravagant perks for themselves. This seems to be just an afterthought. AFTER congress chewed their dumb @sses off they THOUGHT it will make them look needier.

[lucylou]

As a proud ex-Detroiter, I have just two words to say: window dressing

[KillTheMessenger]

Who the hell cares?

[AnotherMike]

Ooh, ask Sarah Palin about how to sell jets on eBay!

[Viper]

Interesting fact on Toyota.. fleet mileage in spite of Prius and hybreds is lower than 21 years ago.


"Even though the addition of bigger trucks and sport-utilities has brought its corporate average fuel economy down from 26 mpg in 1987 to 24 mpg today, according to EPA figures released this week",


Regards

[KillTheMessenger]

Another interesting fact: US fleet mileage has not changed since 1990 when US automakers lobbied congress to leave it alone.

In this country you get what your corporations lobby for.

:-)

[darthdarcy]

Yeah the Columbian and Mexican Cartels will pay top dollar, I'm sure..