Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

GM Sheds Crippling Corporate Image -- Its Fleet Of Jets

A bankruptcy judge today approved allowing General Motors to sever its leasing agreements for its seven corporate jets and the hangar space it leases in Detroit's airport.

You may recall how the automakers' jets became a symbol to some in Congress of Everything Wrong With Detroit's Big Three last November, when the then-heads of GM, Ford and Chrysler each flew in their own private jets to Washington to ask for taxpayer aid.

"There's a delicious irony in seeing private luxury jets flying into D.C. and people coming off of them with tin cups in their hand," colorful Rep. Gary Ackerman (D-N.Y.) said to the heads of GM, Ford and Chrysler at the time. "It's almost like seeing guys show up in the soup kitchen in high hat and tuxedo...Couldn’t you all have downgraded to first-class or at least jet-pooled together?"

GM said in December that it would close its corporate jet office on Jan. 1.

-- Frank Ahrens
Sign up to get The Ticker on Twitter

By Frank Ahrens  |  June 18, 2009; 5:30 PM ET
Categories:  The Ticker  | Tags: GM, General Motors  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati   Google Buzz   Previous: Reactions to Obama's Financial Overhaul Vary
Next: June 19, 2009


You NetJet, not jet pool.

"Zipcar is ‘driving’ into the college market by inking deals with Universities to put cars in and around campuses."

Jet sharing to save Detroit. At least save time. Stopping technology to save industry is impossible. GM needs jets or access to jets.

Posted by: Dermitt | June 19, 2009 10:55 AM | Report abuse

The comments to this entry are closed.

RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company