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| Home Front Economy | |
| Citi Buys New Corporate Jet for $50 Million | |
| 2009-01-27 | |
| No problem. Citi should have a coporate jet as a sign of its success. Oh wait. They're being bailed out by the federal government. Nice ride, though
Even though the bank's stock is as cheap as a gallon of gas and it's burning through a $45 billion taxpayer-funded rescue, the airhead execs pushed through the purchase of a new Dassault Falcon 7X, according to a source familiar with the deal. | |
| Posted by:badanov |
| #12 I'd rather have the $4 billion in bonuses Citibank paid to executives a few days before the taxpayer bailout. |
| Posted by: ed 2009-01-27 23:18 |
| #11 Pretty bird. |
| Posted by: badanov 2009-01-27 19:50 |
| #10 Excellent AP. I remember years ago walking out on the ramp at the former Ladd AFB and snooping around an old Bureau of Land Management (BLM) Catalina PBY. The pilot came out and gave me a great tour. He was an old WWII pilot from Texas who spent 3-4 months with the BLM fighting fires. Used to be a lot of old warbirds up in those parts. Flew out to Galena a few times and saw some that didn't make it. |
| Posted by: Besoeker 2009-01-27 18:47 |
| #9 These guys at Citi are full of arrogance and hubris. They need to set their sights a bit lower in these tough times. We at Rantburg are here to help you with real solutions to your problems. You need air transportation, but you donÂ’t want to break the bank. Let me suggest this: a Curtiss C-46, all tricked out. |
| Posted by: Alaska Paul 2009-01-27 18:38 |
| #8 They could have at least bought one used, from a distressed owner. Oh, wait - they *are* distressed. Halfwits. |
| Posted by: Mitch H. 2009-01-27 15:33 |
| #7 Its time to bust those bastards and sell off their pieces. The U.S. govt is already the largest stockholder at 6% I believe. There shouldn't be a single person, from the CEO to the guy who mops the floors at night taking home a bonus or a raise this year from Citi. |
| Posted by: bigjim-ky 2009-01-27 13:06 |
| #6 consolidate all the holdings into a single Bank of the United States Curiously, the founder of the Democrat party, Andrew Jackson was not real keen on the idea of a national bank. |
| Posted by: DMFD 2009-01-27 12:21 |
| #5 They caved... The high-flying execs at Citigroup caved under pressure from President Obama and decided today to abandon plans for a luxurious new $50 million corporate jet from France. The bank used TARP funds to purchase a new corporate jet for executives.The decision came 24 hours after the banking giant, which was rescued by a $45 billion taxpayer lifeline, defended buying the state-of-the-art Dassault Falcon 7X -- one of nine to be flying in U.S. skies -- as a smart business deal. The jet, the epitome of corporate prestige and privilege, can carry 12 passengers in elegant comfort. ABC News has learned that on Monday officials of the Obama administration called Citigroup about the company's new $50 million corporate jet and told execs to "fix it." |
| Posted by: tu3031 2009-01-27 11:56 |
| #4 Bankers + gangsters = banksters |
| Posted by: Anguper Hupomosing9418 2009-01-27 11:49 |
| #3 Bankruptcy works just as well and costs the taxpayers much less. |
| Posted by: Nimble Spemble 2009-01-27 11:13 |
| #2 That's why you nationalize these failing banks/lending institutions, fire the top three layers, cap everyone pay to SES/GS levels [your bonus is you get to keep your job], and consolidate all the holdings [not just the toxic paper they dirty themselves with] into a single Bank of the United States - which by the way was originally chartered under Alexander Hamilton, first Secretary of the Treasury, hardly a purveyor of the ideas of Marxism and Socialism. This entire mindset has to be broken in the business and nothing focuses a man's mind like a good hanging [figurative or literal]. |
| Posted by: Procopius2k 2009-01-27 10:20 |
| #1 I'll believe it's a crisis when those who say it's a crisis act like it's a crisis - Glenn Reynolds. |
| Posted by: Spot 2009-01-27 08:24 |