Hypocrisy on the Hill

For the last two days, the CEO’s of the three largest American automakers have been before congress lobbying for $25 Billion in loans to keep them afloat for the next year or so. Much of the news coverage of their appearance has been of lawmakers ripping the CEO’s to shreds for everything from CEO pay, to building SUV’s, to flying corporate jets to Washington.

Clearly the current big three CEO’s don’t have the public relations skills that Lee Iacocca had nearly thirty years ago. At the time Chrysler was in need of similar assistance, and Iacocca worked for $1 per year.

These particular CEO perks don’t get me too worked up. CEO pay nationally is way out of hand but that problem won’t be solved by beating up the big three. That didn’t stop Congressman Peter Roskam, (R- Ill.) from demanding the three CEO’s work for a buck.

Need I remind Roskam that the United States has been running a sizable deficit for decades? When will Roskam begin working for one dollar? He won’t. It would be pointless and it won’t seriously benefit the national budget. But the point is, Roskam works in a body that regularly gives itself raises, regularly drives SUV’s, likely rides in private jets and helped contribute to the mess this country is in.

Roskam isn’t my Congressman, so I doubt he will respond to my e-mail, but I am sending the letter below to point out his hypocrisy.

November 20, 2008

Congressman Peter Roskam
507 Cannon House Office Building
Washington, DC 20515

Dear Congressman Roskam,

This morning on several news programs, the country witnessed you asking the CEO’s of the big three automakers to work for one dollar per year as part of the effort to get the companies back on their feet. While this would likely prove to be a nice public relations gesture, as Lee Iacocca did when Chrysler needed similar assistance nearly thirty years ago, I am sure you are aware that this would have little significance to the automakers’ bottom line.

Like the automakers, I am sure you have noticed that the United States Government has been running in the red for the better part of three decades. Since you find it so important for people in positions of authority to work for one dollar, when their organizations are running in deficit, will you be giving up your Congressional salary this year?

CEO compensation is out of control, but you won’t fix that problem by letting the big three go out of business. Instead of showboating, isn’t it time to consider the 3 Million workers and retirees who are supported by the American auto industry? There are Illinois jobs at stake.

Signed,

Bob

You too can contact Roskam here:

UPDATE: Roskam doesn't accept e-mail from outside the distrrict, so snail-mail it is.

You can also write other members of the House Financial Services Committee to let them know what I think of their showboating. It's a long list, so hopefully one of them represents you.