The big three’s road trip to Capitol Hill

The public and media apparently had a field day. The whole drama of the CEOs of the big 3 Detroit auto makers begging the federal government for bailout has been much better than every blockbuster that I have seen this year, except for Iron Man.

It all started with them showing up with a begging bowl first time, in their own corporate jets, expecting that taxpayers throw them the money so that they can continue to burn for a bit longer. Then when asked whether they are willing to take a symbolic $1 salary for the year of 2009, they were extremely reluctant. Let’s just say that the CEO at Ford is paid $21 million annual salary, even in 2008 when his company’s share price is in single digit.

Not surprisingly, they left empty-handed, with a public outrage that has been occupying headlines for weeks.

Now they are in DC again. This time, to make it more dramatic, They all drove, instead of flying. GM and Ford CEOs in particular drove the hybrid cars. All of them promised to sell their corporate jets.

Did I mention that the fuel efficiency cars originally were started by Detroit automakers, and then discarded because they decided to pursue big trucks and SUVs? Did I mention that per comparable car cost is $2,000 higher for American automakers than for Japanese automakers? (and that is why everything inside a Detroit’s car has to be so cheap in materials in order to match the price tag with their Japanese rivals). Boy, I bet these cars won’t have fine leather seats as in their corporate jets.

CNN even had a picture by picture comparison of the cars driven by these CEOs, and live shots of them inside the cars on the road. You have to admit, it is both tragic and amusing when the heavy weight national media become paparazzi.

Then there was the news reports that even DC police cut these CEOs some slack: They got some parking validations. Can this story get even better from there?

Even before their second trip to the Capitol Hill, SNL already spoofed the big 3 bailout hearings. The show was hilarious.