GM CEO Wagoner Plans To Drive To DC For Hearings
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General Motors (NYSE: GM) confirmed CEO Richard Wagoner will drive back to Washington DC for hearings on the automaker bailout, which start Thursday.
Wagoner will be driving a hybrid Chevy Malibu from Detroit to DC.
Yesterday, Ford Motor (NYSE: F) CEO Alan Mulally said he will drive to DC for the hearings.
Both executives were involved in a public relation nightmare after taking private jets to the initial bailout hearings last month. The public was outraged that the auto executives would have the audacity to take private jets to beg for pubic money.
Last weekend, Saturday Night Live had a skit predicting that the auto execs would drive to the new hearings. Let's hope they have less car trouble and have a better plan than SNL came up with.
In addition to their travel arrangements, both Wagoner and Mulally said they would take salaries of just $1.
Ford also confirmed today that it has decided to sell its five corporate aircraft.
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