"GM execs give up some private jets after embarassing hearing."
Earlier this week, Big Three automaker CEOs were ridiculed by members of Congress for taking private jets to Washington to plea for a federal bailout. Today, ABC reports that GM is putting two of its five corporate jets out of service allegedy “in response to the planes not being used” and not a reaction to the harsh treatment from Congress. Watch Rep. Gary Ackerman (D-NY) criticize the auto execs:
Despite the downsizing, GM CEO Richard Wagoner “will still fly private for all business and personal travel” for “security reasons,” ABC notes.