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Posted: 4:55 p.m. Thursday, Nov. 20, 2008
By Jamie Dupree
Perception in life is a big deal. It can be an even bigger deal in the arena of politics. And when you are taking your corporate jet to ask for a $25 billion dollar bailout from Congress, that only sets the hair of lawmakers on fire.
"These guys flying in their big corporate jets doesn't send a good message," said Senate Democratic Leader Harry Reid, who summed up the public relations disaster that the last few days have been for GM, Chrysler and Ford.
"What happened here in Washington, D.C. this week has not been good for the auto industry," Reid added.
"These guys may have ended the bailout by their behavior alone," a colleague of mine observed as we watched the legislative equivalent of a slow speed car crash.
If there is anything that causes the voters to get spitting mad, it is high profile people asking for something and doing something else.
The Big Three are close to going bankrupt, the executives said before two Congressional committees. They need a federal financial lifeline.
So then why are you flying around in a corporate jet? Heck, I read where the Ford CEO Alan Mulally works in Detroit, but lives in Seattle, and he gets ferried back and forth by the company plane.
Cha-ching.
To the average person who hates going through the TSA line at the airport, that's a bit much to stomach, especially when it is their taxpayer dollars on the line.
Knowing they didn't have the votes to pass anything right now that would help Detroit, Democratic leaders came up with a plan that basically buys everyone some time.
They want plans in coming weeks from the Big Three, how much money they need, what they want to spend it on, and most importantly, how they are going to make money in the future.
Basically, Congress would act as a loan officer. If you look like you are a good risk, maybe they will pony up $25 billion or more.
It still might not work, but the PR boys in Detroit have a few days to take a Mulligan.
Most of us would like to have that chance every day. Let's see if the Big Three figures out they need to do this tin cup thing a little differently or not.
If any of them fly back to DC on a corporate jet next time, no one here will lift a finger to keep their company off the scrap heap of history.
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