Big 3 CEOs drive to Washington to suck up to Congress

The Big 3 CEOs are trying to turn lemons into lemonade.

After being pilloried by members of Congress for flying in separate corporate jets to beg for a $25 billion bailout from the federal government, Rick Wagoner of General Motors Co. (NYSE: GM), Ford Motor Co.'s (NYSE: F) Alan Mulally and Robert Nardelli of Chrysler LLC want to show that they have learned their lesson. They decided to drive eight hours from Detroit to Washington before testifying on Thursday.

Moreover, they are milking their roadtrip for public relations purposes. Wagoner is traveling via Chevrolet Malibu hybrid and Mulally is driving a hybrid Ford Escape. Nardelli has not finalized his plans yet but as BusinessWeek notes "he's not flying a corporate jet. That's for sure." I would be stunned if he does not motor to the nation's capital in a Chrysler hybrid.

This whole exercise is silly, but it has a serious purpose. The negative publicity from the corporate jet story cost the Big 3 critical support for the bailout. Some analysts are suggesting that GM and Chrysler may not be able to wait for the Obama administration to take over next month. Ford can hold on a while longer.


First, the spectacle of overpaid CEOs stopping for lunch at a roadside diner -- the type of place where the waitresses call patrons "hon" -- is an amusing one. I wonder how Wagoner, Mulally and Nardelli will cope with rubbing elbows with the untamed masses who now prefer to buy foreign cars. They best stop for lunch in an area that's not home to any auto plants or else they might have to eat and run.

The drive to Washington also raises another point. If these guys are serious about saving money, they could have at least car pooled. Heck, they could have even flown first class from Detroit to Washington to make their point. A coach ticket could be had for about $250. I doubt they would stoop to taking the bus.

It shows how desperate the companies are that three busy CEOs would be willing to sacrifice 16 hours of their time -- which they cannot afford to loose -- on a public relations gesture.
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