December 2nd, 2008 // comments (0)

Big Three Back To Congress

The Big Three auto bosses will present Congress with an actual plan today to not just throw $25 billion of taxpayer money down the bottomless bailout hole. (If reports are to be believed, these executives will also endure the punishment of actually having to use their own vehicles to drive from Detroit to a new round of hearings scheduled for later this week. Everyone loves a road trip, right?)

The question is, how are they getting to Capitol Hill?

” ‘He’s driving,’ a Ford spokesman, Mark Truby, wrote in an e-mail today about [Ford CEO Alan] Mulally’s plans for sessions set to start on Dec. 4. A General Motors Corp. spokesman, Tony Cervone, said ‘it is safe to assume’ CEO Rick Wagoner won’t use a company plane, while a Chrysler LLC spokeswoman, Katie Hepler, declined comment on Robert Nardelli’s travel plans.”

I would expect a big to-do over the transportation switch. I can imagine Mulally’s opening statement going something like this. ‘We come before you this afternoon with an aggressive plan to save the auto industry — and in turn the jobs of tens of thousands of Americans — all while being aware that we will be indebted to the American taxpayer for this assistance. To show my faith in our abilities, I drove a brand new 2009 Ford Taurus to this hearing.’

It’s going to be quite a show…

Related:

• December 19, 2008 -- White House Rescues GM, Chrysler
• December 18, 2008 -- The Cost Of The 2008 Bailouts
• December 12, 2008 -- Auto Bailout Dies In The Senate
• December 10, 2008 -- Democrats Reach Auto Bailout Deal
• December 3, 2008 -- 6 In 10 Oppose Auto Bailout
• December 3, 2008 -- Big 3 Viability Proposals Released
• November 25, 2008 -- Graph: The Auto Industry Collapse
• December 4, 2009 -- CHRYSLER GOES ITALIAN
• March 16, 2009 -- 20/20’s Stossel Slams Bailout
• January 15, 2009 -- Senate To Vote On 2nd Bailout