Come on, is driving to Capitol Hill really necessary?
Posted
Dec 02 2008, 12:37 PM
by
Kim Peterson
Rating:
The head honchos of Ford, Chrysler and GM are headed back to Washington to ask Congress for a bailout, but this time they won't be flying in personal jets.
I can appreciate what my colleague Scott Reeves describes as a massive public relations comeback, but this seems almost as ridiculous. Does Alan Mulally, the CEO of a major multinational company (Ford) really need to drive 10 hours from Detroit to Washington?
What is the productivity loss from having the CEO on a 10-hour road trip? Ford is betting that what is loses in resources, it'll gain in political goodwill. And there's something kind of charming about having Mulally hit the road in a Ford Escape hybrid, except that at the end of the road he's going to beg for taxpayer dollars.
In the end, Mulally is just piling more spectacle on top of an already spectacular dog-and-pony show. Will the testimony from Detroit's Big Three actually mean anything, or are they just there so the politicians can grab more face time in front of the cameras?
Excuse me for being so cynical. The debate about whether to bail out Detroit is fascinating, and could fundamentally alter a major American industry. There are huge issues at stake, affecting real jobs and real families.
Mulally says he'll work for $1 per year in order to get government loans for Ford. That's the kind of commitment I want to see. All this fuss about CEO transportation is just silly and distracting.