DETROIT – Ford Motor Co. will tell Congress that it plans to return to a pretax profit or break even in 2011 when the Detroit Three automakers' CEOs appear before lawmakers this week to request $25 billion in government loans.
Ford CEO Alan Mulally said he'll work for $1 per year if the company has to take any government loan money.
After grilling the CEOs at hearings last month, Congressional leaders demanded plans from the automakers by Tuesday to show that they will survive if they get federal funds. The plan Ford submitted said the company will cancel all management employees' 2009 bonuses and will not pay any merit increases for its North American salaried employees next year.
The company also said it will sell its five corporate aircraft. The CEOs of all three Detroit automakers were harshly criticized during last month's hearings for flying to Washington in separate corporate jets.
Does this rub anyone else the wrong way? I understand that the automotive industry is a huge employer, not just to those at the plants. I also understand that without them things would be very bad, probably more then most would expect. But the fact that these CEO fuckwads say “I’ll work for a dollar a year if you give me a loan” is almost offensive. It just goes to show how long they’ve been fucking the system and rollin in the $$$ while their business takes a shit… They probably could actually work for a dollar and be alright because of how much money they’ve mad in the past. Now they see the dark side of things and they want to cry and play the pity card . I would'nt give those sorry mother fuckers a dime... I'd fire them, offer them a jod stamping bumpers and hire new CEO's. I don't know why, but this artical pised me off.
The rest of the artical.
http://news.yahoo.com/s/ap/20081202/ap_on_go_co/meltdown_autos