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Dumb and Dumber

About three short months ago the chiefs of Detroit traveled by corporate jet to Washington, DC for a grilling by Congress in connection with the impending government shake-up of the auto industry. And the outcries came from lawmakers over the use of corporate jets when the auto industry was going down the tubes. For their second trip to visit Congress, the CEO’s all piled into a comfy Chevy and drove to DC. It was all about perception. And now the latest out of Washington–as Congress readies to go on a $550-million shopping spree for a fleet of new passenger jets to whisk them off to lands far and wide. Of course there were public outcries over this move and now back-tracking among lawmakers. So yesterday it was reported that the order was cut back to what the Air Force originally requested. This has been a record, painful recession, and the real estate industry is still in for a rough patch. So when we see shenanigans like this latest episode in Washington you must assume that Congress figures that it has fixed the economy, dispensed with the credit crisis, and on to more important things like their travel junkets.

Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders. The views expressed in this article are the author’s own.

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