Friday, November 21, 2008

Jet-Flying Executives

Somehow I wasn't surprised at the "outrage" against the CEO's of the Big 3 flying private jets to Washington where they begged for a bailout.

But think of it... They said it cost $20,000 for this private flight. The delegations had about 15 members. Any idea how much first class tickets cost if you buy them 2-3 days in advance? A lot more than the $20,000 and anyway, why not use the jet, since the company already owns it. And now don't tell me they should fly economy class. After all, they got into this situation because of their heavy charity work. What else would you call paying $80/hour to a guy who just handles a screwdriver all day long?

And I didn't hear any similar outrage about B.H. Obama's recent trip to Washington, the one when he met President Bush. He and his wife flew on TWO SEPARATE private jets. They really couldn't find inside just one of them? And for comparison's sake... the Big 3 CEO's were executives of companies that need just 25 billions. Obama is the new chief executive of an entity owing 10 trillion...

Tuesday, November 4, 2008

Quote of the day: Reagan on Marx and communism

Communists are those who read Marx. Anti-communists are those who understand Marx.
- Ronald Reagan

Monday, November 3, 2008

Timeline of the Lending Crisis

Just found this full timeline of the events that led to the current financial crisis.