GMAC CEO Hesitant to Ask Treasury for Pony
With public opinion strongly against government handouts for corporations, GMAC CEO Michael Carpenter finds himself in the precarious position of rebuilding a company while remaining conscious of the public’s view of his actions. When word leaked that some of the companies that were taking bailout money from the government were distributing lavish bonuses, confidence plummeted while stock in pitchforks soared. Therefore, when a GMAC senior executive asked for a pony for his daughter, Carpenter was placed in a tough position.
See, look how much smaller that is than a pony
“We just received 3.79 Billion dollars from the government, or as it’s being described, from the taxpayers, even though the checks say United States Treasury, Carpenter said.”That is different, that is something we needed. A pony is going to be looked at as an extravagance. We can’t afford the public backlash if this story gets out.”
Part of the problem with the pony requisition is that, unlike the billions of dollars from the government, you can’t pay back a pony. “Even though it’s only $1000, everyone can imagine a pony. People can’t really imagine 3 Billion dollars, so it’s much easier to make it sound like no big deal.” (more…)