GM's bob lutz whines about his bailout while using your credit card
The vice-chairman of GM apparently does not appreciate having to fly commercial. And it's your fault. Nor, apparently does he have any sense of how not to sound like a buffoon when he speaks. Read on to see exactly why he's so upset with you.
Lutz has been in the car business for 45 years, so it's a change for him to operate on the federal government's nickel.
"I've never quite been in this situation before of getting a massive pay cut, no bonus, no longer allowed to stay in decent hotels, no corporate airplane. I have to stand in line at the Northwest counter," Lutz says. "I've never quite experienced this before. I'll let you know a year from now what it's like."
And in terms of the decisions that executives make at GM, how are they different? Lutz says they don't know. That's because Washington has not yet appointed a car czar, the government's designee to oversee the loans to GM and Chrysler.
Excuse me while I vomit.
Jan 16, 2009 at 3:48 AM
Reader Comments (16)
First Bitches!
SPODE
nice work SPODE...glad you found us...
i read your comments everyday at dealbreaker...
be lenient with us for a little while on the site design...
we will have some great stuff here soon so keep coming back...
thanks, dailybail
where is the voice of the taxpayer in this mess..?..
before the web, we never had this ability to communicate with each other and our elected officials with such ease...yet the result is a dull apathy coming from millions of keyboards across this country...
we will be doing some things here at DailyBail to give a much stronger voice to this anger...
stick around and see what kind of noise we can make...
details coming soon...
You mean, he might have to endure this heinous treatment for a YEAR?!?! How will he ever survive?!?! Sounds like Bob needs to wipe away those tears and take a good look around for his bootstraps.
I like the idea DailyBail......Can't wait to see more! Keep it comin'
it's a friggin' joke is what it is...one would think these people would have the basic pr skill-set to watch what they say to the media, but apparently not in lutz's case...does he really not realize that he sounds like a dribble spewing moron...
the tide might be starting to turn however...more on this later...
Great stuff. Look forward to ideas on changing ideas in DC. I feel like they do not even listen to common man.
More taxpayer money at work:
Bailout Is a Windfall to Bankers, if Not to Borrowers
John C. Hope III, the chairman of Whitney National Bank in New Orleans, stood before a ballroom full of Wall Street analysts and explained how his bank intended to use its $300 million in federal bailout money .
“Make more loans?” Mr. Hope said. “We’re not going to change our business model or our credit policies to accommodate the needs of the public sector as they see it to have us make more loans.”
Speaking at the FBR Capital Markets conference in New York in December, Walter M. Pressey, president of Boston Private Wealth Management, a healthy bank with a mostly affluent clientele, said there were no immediate plans to do much with the $154 million it received from the Treasury.
“With that capital in hand, not only do we feel comfortable that we can ride out the recession,” he said, “but we also feel that we’ll be in a position to take advantage of opportunities that present themselves once this recession is sorted out.”
http://www.nytimes.com/2009/01/18/business/18bank.html?hp
@ art
nice link...it's pretty disgusting stuff...the entire 3 weeks or so that the first $700 Tarp was being pushed through congress i kept wondering where the incentive or requirement would be for the banks to lend out what we taxpayers gave them in the form of capital injections...it seemed obvious at the time that most of these banks would choose NOT to lend...yet i never heard that question even asked during the various testimonies by bernanke and paulson...
our congress is so clueless on financial issues that it felt submissive towards the fed and treasury and jsut assumed that they(congress) were not being mislead...they took these treasury buffoons at face value and look where it has gotten us...
now these banks are sitting on billions of our money and there seems to be little that can be done...
except make noise...and that's part of why we are here at dailybail...
so we have some big things planned to accomplish just that...
i hope everyone sticks around to see what a few hundred thousand determined individuals can do when they get focused...
better times are ahead...
He makes me want to cry along with him. How awful to fly commercial. It is probably as bad as owning a GM car! Thanks for the status quo vehicles, now you get to live the life of someone who can barely afford to buy your crappy product...sob...
I do have one question for everyone out there. What would happen if all taxpayers reduced their withholdings and then refused to pay the taxes come April next year? If we are tired of them idiots using OUR dollars, don't give it to them! They can't throw all of us in jail!!!! UNITE AMERICANS, RETALIATE AGAINST THE GREED!
nice to see the comments start to build...
the anger is palpable as i read thru the comments all over the site...
thanks and make sure to tell people about our site...
keep the comments coming...
Bob Lutz can suck my fat cock. Why doesn't that pussy fly one of his own fighters if he doesn't want to fly commercial? Bottom line, that statement of arrogance and hubris says "I'm better than you, and my time is worth more than yours, pathetic mortal".
I had long ago pledged that I would never spend one dime of my own money on a GM product, and it vexes me greatly that my tax dollars are going to support this clown and his ilk.
Except for the fact that this guy has probably run his company into the ground, as a general principal, I would rather have him flying a company plane than flying commercial. CEO's, etc., are much more effective in face to face meetings, and the time wasted waiting in line, waiting for luggage, and all that, is really money wasted.