Top 5 Reasons Auto Execs Should Carpool for Next D.C. Hearing

After getting chewed out by some lawmakers over taking their own private jets to Washington to beg for a $25 billion bailout, the CEOs of Detroit's Big 3 automakers may end up carpooling next time.

Officials at Chrysler, Ford Motor and General Motors Corp. spent last weekend e-mailing and discussing how to set up a giant car caravan next time they have to testify. Although, it seems like none of the companies will comment specifically on what the travel plans are for GM CEO Rick Wagoner, Chrysler CEO Bob Nardelli, or Ford CEO Alan Mulally. But a bunch of supporters, workers, and auto suppliers are expected to join the caravan in fuel-efficient cars.

Meanwhile, The Detroit News reports today that the Big 3 were working furiously to craft effective restructuring plans to convince Congress to approve the bailout. Those plans reportedly include how to cut expenses and executive pay and improve vehicle fuel-efficiency. They also could call for new sacrifices from hourly union workers and holders of the automakers' more than $100 billion in combined corporate debt. The auto execs are due back in Washington for hearings Dec. 4 and 5. Their plans are due to be submitted Dec. 2.

Ford Executive Chairman Bill Ford Jr. told NPR last week that the company's board of directors is reviewing Mulally's compensation. Mulally reportedly earned $49.9 million total in 2006 and 2007. "We're talking to Alan about it," Ford Jr. said. "We are very sensitive to public opinion and that's something we're on top of."

Ford told NPR he hasn't taken any compensation in the last four years. And about those luxury private planes?

Ford says he "gets" that it was the wrong signal to send to the taxpayers footing the bill for these corporate bailouts.

"We're taking a real look at our whole plane operation," he says. "We've sold a number of planes already and we're taking a good hard look at the rest of them as well."

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PD toolbar!Here are the top 5 reasons the auto execs should carpool to Washington in December:

5. They could play the license-plate game (see how many different license plates you can find on your trip and check them off your list.)

4. They would have more than 8 hours to discuss reasons why they shouldn't give up their $20 to $40-million compensation packages

3. They'd have lots of time to discuss how they can more effectively market fuel-efficient cars to compete with Toyota's Prius (ok, so Ford does have the hybrid Escape)

2. The cost of gas has now dropped enough so it's actually cheaper than jet fuel

1. They could go through the McDonald's drive thru. After all, when was the last time the Ford CEO had a Big Mac?


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