Posts Tagged ‘bailout’
Ford wants over $100k per employee from government
Posted in Businesson Dec 2, 2008
Quick Sanity Check!
Today Ford Motor Company asked for $9 Billion in loans from the government, and promises to return to profitability within two years. According the the Ford Wikipedia article, Ford employees 87,700 people.
Doing just a little bit of math, dividing $9B into the number of employees, the Ford bailout is equal to $102,622 per employee. It seems a little excessive.
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- Tags: bailout, economy
Auto execs show up in luxury jet to beg for money
Posted in Businesson Nov 20, 2008
Yesterday the CEOs of the big three US automakers showed up in Washington DC to ask the federal government for bailout money. How did they show up? In private luxury jets.
Rich Wagoner, CEO of General Motors, flew in a $36 million jet to ask congress for money, some $10-12 billion. The flight alone is estimated to cost around $20,000. Meanwhile, I used Orbitz.com to find a next-day first class flight on Northwest airlines to cost only $1,385.
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- Tags: airplane, bailout, economy
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