The above photo features Rick Wagoner, CEO and president of General Motors, in a three-car envoy headed to Washington. Wagoner is riding as as a passenger in a Chevy Malibu hybrid. After the Big three took a public lashing over their first trip to Washington, flying in their corporate jets and having no actual business plan in hand, things are a lot different this time. The top executives of all three automakers have agreed to cut their pay plan to $1 a year, like the president of Chrysler did in the late seventies when he was seeking assistance from the government. Moreover, to start off the new year, GM has agreed to eliminate their fleet of private jets.
Although most Americans are still somewhat leery of offering a loan to the auto industry, at least for now, the focus will be off of the lavish lifestyle of the executives and focused on helping America's blue collar workers - the backbone of our economy.
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