When the average Joe or Jill goes for a job interview they must sell themselves to their prospective employer.  If you or I go to the bank for a loan we must show our credit worthiness and in some cases offer collateral.

The current economic storm has shown us some things that make average people’s heads spin!

We heard about the AIG spa resort outing while the company was sinking and later reports from ABC NEWS of secret, expensive junkets after additional bail-outs to the firm.

Now the CEO’s from the U.S. automakers are on Capitol Hill begging for a “bridge loan”.  No one disputes that the auto industry is hurting, although these CEO’s unsurprisingly wash their hands of any responsibility in their company’s losses.

So how did these CEO’s get from Detroit to Washington D.C.?

Yes, you guessed it!  Expensive corporate jets!

General Motors CEO Rick Wagoner arrived on his comany’s cushy Gulfstream IV, ABC News reported. Ford CEO Alan Mulally flew in on a private company jet as well. ~ Reuters

Spending $13,000 -$20,000 round-trip to ask for money from taxpayers who can barely afford to drive across town to visit relatives for Thanksgiving seems a bit stupid and sends the wrong message.

Maybe, GM, FORD & Chrysler should have the heads of their Marketing Firms speak for them in Washington instead.  They haven’t been able to move cars lately, perhaps they could move Congress.

ABC News reports 13 million jobs could be affected by a collapse of all three U.S. automakers. 

Half of America’s 50 states will individually lose 3,000 jobs or more if Detroit’s automakers collapse, according to a confidential state-by-state analysis of employment by Ford Motor Co. that was obtained by the  Detroit Free Press.

Analysts are citing 1 in 10 jobs connected to the auto industry, although as Catherine Rampell points out in a New York Times Blog, That’s a scary figure. It’s also somewhat misleading.

What isn’t misleading is it would have a huge impact on jobs in America.  While politicians argue the validity and necessity of a bailout for GM, Ford & Chrysler, Americans sit and wait.  The worker at the Saturn plant in Spring Hill, TN is wondering if he will keep his job, the beautician in the town square wonders if his wife will be able to afford to keep her appointment.  The beauty supply rep worries about losing the salon’s shampoo business. Her boss worries that he’ll have to close operations in that territory.  His insurance agent worries about the lost commissions from the downsizing. His daughter worries that a squeeze to the family budget may cut into her tutoring.  The underpaid teacher worries that her extra income from private tutoring may evaporate putting a squeeze on her family.  And all of them are afraid to buy an American car with so much uncertainty looming, not only in their personal income positions, but in companies in such poor financial shape.  It is a Catch-22 for the automakers.

This perfect storm that has capsized the housing market and damaged the financial services industry is about to sink the U.S. largest manufacturing segment.  Congress may be able to work out a bridge loan that may or may not stop the bleeding.  Foreign companies and investors may sweep in and buy up the companies at fire sale prices.  But American cars as we know it seem to be vanishing.

Whether it is 1 in 10 jobs or 1 in 30 jobs, the unemployment impact will be gigantic and that will add more fuel to that already perfect storm.