GM, Ford Will Sell Corporate Jet Fleet
For CEOs, First Class Will Have To Be Good Enough
Corporate Jets to Corporate Cars
Ford CEO Mulally is reportedly driving, or being driven, to Washington in one of the company's new Escape Hybrid cars. Mulally also announced he was prepared to work for a salary of $1 a year "as a sign of his confidence in the company's transformation plan and future."
Chrysler CEO Bob Nardelli is expected to drive to Washington in a Chrysler Aspen hybrid.
GM CEO Wagoner is expected to arrive in a Malibu hybrid. GM did not say whether he would actually be behind the wheel.
As to its fleet of private jets, GM said it was "pursuing sale of four of the aircraft so it can terminate the leases."
GM leases seven planes, four of which are currently parked. With today's announcement, GM is trying to sell the leases of those four planes. The other three leased planes went to another air company that provides planes to other companies.
It said it would shutter its large General Motors Air Transportation Services hangar at Detroit Metro Airport as of January 1, 2009.
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