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Ford may sell jets

jonjuan

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http://money.cnn.com/2008/11/21/new...oratejets.ap/index.htm?postversion=2008112121

Ford mulls corporate jet sale

Carmaker says it's exploring options for its planes after CEO is criticized for flight to Congressional hearings.
November 21, 2008: 9:51 PM ET

DETROIT (AP) -- Ford Motor Co. may sell its fleet of five corporate jets after top executives of the three Detroit automakers were harshly criticized by members of Congress this week for their travel expenses.

In a statement issued Friday, Ford (F, Fortune 500) said it is exploring all options for the fleet, which it said has been reduced from nine in 2005.
"Ford's top priority is to continue making progress on our transformation plan, and we do not want anything to distract us," spokesman Mark Truby said in a statement. "We are exploring all cost-effective solutions for our air travel."
The announcement comes just days after Ford CEO Alan Mulally, Chrysler LLC CEO Robert Nardelli and General Motors Corp. (GM, Fortune 500) CEO Rick Wagoner traveled to Washington on separate corporate jets to seek $25 billion in government loans to help them make it through the worst U.S. auto sales downturn in 25 years.
Congress, though, abandoned a vote on the bailout after a disastrous appearance in which the automakers were criticized for lavish corporate travel, as well as for having poor business plans and high labor costs that some members said would keep them from being competitive with Toyota Motor Corp. (TM) andHonda Motor Co. (HMC)
Senate Majority Leader Harry Reid, a Democrat from Nevada, said in Washington that "these guys flying in their big corporate jets doesn't send a good message to people in Searchlight, Nev., or Las Vegas or Reno or anyplace in this country."
Corporations typically lease planes, buy them or charter aircraft to transport executives and other employees. Many require executives to travel by corporate jet for security reasons and so they can meet with other executives and do work while traveling.
Truby said that of the five remaining jets, three are used for executive travel, while the other two shuttle employees such as engineers to factories where new products are being launched.
"We have been and continue to look at all of our operations to reduce costs and operate more efficiently," he said.
GM said Thursday that it was in the process of returning two of its five leased corporate jets to the leasing company.
Spokesman Tom Wilkinson said the company planned to return the jets because travel spending had been cut. The jets were scheduled to be returned even before the automakers were criticized in Washington, he said.
"It would have been done anyway," Wilkinson said. "It's just the travel cutbacks have been so severe. It's just not being used."
GM started the year with seven leased jets but returned two of them in September, Wilkinson said.
Chrysler spokesman David Elshoff would not comment on its jets.
 

nerdpilot

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Yea Right!!!!!!! Bad news for all the automakers Pilots but good news for Netjets who will probably be the sneaky way they keep up their executive lifestyles while placating the congress they are going to change their way of doing business.
 

BoilerUP

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Yea Right!!!!!!! Bad news for all the automakers Pilots but good news for Netjets who will probably be the sneaky way they keep up their executive lifestyles while placating the congress they are going to change their way of doing business.

You do realize that business aircraft aren't just some "fat cat luxury", but are another tool that helps run a large international business...don't you?
 

Rez O. Lewshun

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BU- right you are... but it is all about perception! Sorry, the phat cats are going to lose job effectiveness because they are...well not effective....

We shouldn't reward failure.....right?
 

Cat3C

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You do realize that business aircraft aren't just some "fat cat luxury", but are another tool that helps run a large international business...don't you?

How many of those tards up on the hill have been on those jets and others? How many flights have the Clintons been on in their campaigns? How many of the lobbiers been on? Interesting.

Perception is certainly the key here but it should also not be lost. Bad timing fo sho. Thanks to those interns sitting at the airport. One of our crew members was at lunch at a local hotel having lunch and right next to him was several newsproducers who were talking to their crews stationed all over watching for these planes.

As a stockholder in certain companies (like we all are) do we really want those execs that make tons sitting at gate 21? I guess I am biased being a pilot for a fortune 100 company but at times it makes my mind spin. I just flew to 5 cities in three days - it would be difficult at best to have flown that profile on any other vehicle. Expensive? Well that depends on the importance of the meetings. Efficient use of company personnel? Absolutely. We left early on Friday to return home where they were able to go back to corporate and do more work. Rant over.
 

G4G5

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I wonder who'd buy em

I'd buy them if I had any where the capital necessary.

In all reality it will be NetJets, Jet Aviation or any other part 135 with a brain and then lease them back to Ford. This is a license to print money for someone who acts quickly.

All Ford want's to do is get them off the books until the Congress has someone else to pick on. A company the likes of Ford has no intension of making their executives rely on NWA out of Detroit for all of their corporate travel.
 
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EdAtTheAirport

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A company the likes of Ford has no intension of making their executives rely on NWA out of Detroit for all of their corporate travel.

Assuming that there is a company called Ford...
 

siucavflight

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EdAtTheAirport

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Word has it that as soon as Nishimatsu heard what US CEOs make, he fired off an app to GM.
 

ksu_aviator

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If I was a Ford pilot, I'd be filing a law suit against a member of congress for forcing my job to be lost. They are directly responsible after all.
 

Rez O. Lewshun

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If I was a Ford pilot, I'd be filing a law suit against a member of congress for forcing my job to be lost. They are directly responsible after all.


Everyone loves the free market screwing everyone until they get screwed then suddenly it is not so good.....
 

BoilerUP

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Everyone loves the free market screwing everyone until they get screwed then suddenly it is not so good.....

Hypocritical Congressman who use donated corporate aircraft during campaigns blasting CEOs for their use of company aircraft for *gasp* business reasons doesn't have JACK to do with the "free market".

Then again, congressional bailouts by their nature are in violation of "free market" principals.

Besides, those CEOs either couldn't or wouldn't man up and defend the use of those aircraft as a necessary business asset...and if GM or Ford cuts aircraft and jobs within their flight department as a result of this nonsense than Congress isn't to blame for that...the weak-dick CEO is.
 

Rez O. Lewshun

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Big three CEO's defending corpjets wouldn't have been handout suicide....

Look, I agree with you the corpjets are a biz tool... nothing wrong with it....

But this is perception.... looking back, I am sure all of these Clowns, I mean CEO's would have loved to taken NWA on the day in question...

IOW, if you are going to ask for big bailout then have some SA....
 

Hand Commander

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The execs might be able to redeem themselves by taking a page from the playbook of Michael Bluth of the Bluth Company. Sell the Corporate jet, keep the stair car. New executive transport: the stair car. Just watch out for low bridges and hop ons. You will get hop ons.:D
 

Gulfstream 200

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These guys were pathetic. Deer in headlights as they get grilled by some retard congressmen...and all they can say is "we need money"..

I guess its all part of the dance, they beg, congress says show us your plan, they get a check...but it certainly angers me that the let something as miniscule in the big picture as a ride on the corp jet to be the epicenter? They let Frank and Ackerman (2 complete losers) run the dialogue? - COME ON.

Result: Go home, clean up the window dressing and throw some pilots out. Nice.

For the money these CEOs command today, they sure do come across as pretty f'n stupid.

Interesting times..
 

metrodriver

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Here is one reason:
MINI Cooper D (yes, that's Diesel) 80 mpg highway, 60 mpg city!. 1.6L/ 110hp. Topspeed 121 mph.
1 million MINI's sold in 6 years. Owned by BMW.

The Toyota Prius doesn't even come close. Anything that Detroit builds is, well, euhh, far behind.

Quality, what's that? Do a search on carcomplaints.com. Do a search on Chrysler. Their 2.7L V6 has a terrible history of seizing up after 60.000 miles. Electrical problems, where to start?

Consumer Report has interesting reports on quality. New and used. The big 3 are all in the bottom of the rankings.

If I buy a car I want something reliable for the $30-50.000 they cost nowaday, not something that gives me a hatefull intimate relationship with a dealer or manufacturer that gives me the run-around.
Example: my wife's Chrysler Sebring Convertable: 6 years old, 6ok miles, 8 major service issues (and a few little ones), all quality related: poor materials, bad design.
My old Toyota, 220k miles: Air flow meter failed at 190k. Only problem I've ever had.

Never ever a Chrysler product again, same goes for Ford and (US) GM. I know I'm not the only one.....
 
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