CNBC’s Fast Money ran an interesting story this evening regarding Ford’s CEO Alan Mulally just prior to Congressional Hearing #2 where the Big Three U.S. Automakers will try their hand at begging for a bailout loan — again!

Jeff Macke’s research stated that the the drive from Detroit to Washington DC would cost Ford Motors approximately $23,500.  Assuming of course, Mulally doesn’t get lost or decides to go semi-upscale and eat at a Boston Market over McDonald’s (sarcasm intended).

Now, why are you saying it will cost Ford Motors 23 grand?

Simple.  See, CEOs generally make a lot of money.  And his time out of the office will cost Ford Motors his productivity contribution.

Mulally makes a little over 20 million dollars a year with his annual salary, and with some quick division, Macke approximates that Ford’s CEO has an hourly wage of $2600/hour.

Not too shabby!  I should have gone to CEO school.

What I find so jaw dropping, is that this guy (along with GM and Chrysler) actually appeared before Congress just weeks ago – hat in hand – asking for a bailout loan, and actually said that economic crisis of 2008 and the tightening of the credit market were the causative agents of the Big Three’s fall from grace.

I may not be “intelligent enough” to bank $2600/hr, but I know a cop out answer when I hear one.  Could it be that poor management or horrible resale values for their used cars played a hand in this?

Of course not — not in their eyes.  Which is why I’m hoping they, or at least various brands owned by the U.S. Automakers gets amputated like a gangrenous limb.

Graciously, Mulally has stated he will reduce his salary to $1 per year if he is forced to tap the bailout loans.  So this does give me somewhat more confidence in his character as a CEO, but not his efficacy while navigating the waters to fully right the ship.

However, what I find so amusing was the last comedic stab in the CNBC video stating:

The CEO’s of the Big Three Automakers – Ford CEO Alan Mulally, GM CEO Richard Wagner, Chrysler CEO Robert Nardelli – could have flown on Southwest Airlines for less than $1000.

Heaven forbid that they fly with the folks who buy their vehicles!

Perhaps, this is why the majority of American citizens do not believe that Congress should give them a bailout loan.  On one hand, the Big Three CEOs are begging for our tax dollars to help them stay in business and save 1 in 10 U.S. Jobs (yea right!), but they’re too fearful of sitting in the seat beside one of us (e.g. regular Americans) on an airplane.

But hey, at least Nardelli is showing up in a new Ford Escape Hybrid… right?  He might be an ineffective manager, but at least he knows to show up in a hybrid car instead of a private jet.

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