I'm Asking You For Another Favor

Posted by Bess Levin, Feb 08, 2008, 11:48am

mozilo.jpgWe're not crazy- we understood full well the tough times that mortgage lender Countrywide has lately fallen on would mean a battening down and tightening of the company belt. We just assumed the streamlining would be contained to firing a ton of employees and screwing a few more people on their home loans, and not impinge on the really important stuff, like flying Ang. Moz.’s leathery goodness around the world in style.

So we were extremely disappointed to hear that the company put its Gulfstream IV on the market, for $21.5 million, which really isn’t that much money when you factor in how sad the sale will make the old crocodile, who’s had some great times in that thing. Making spur of the moment visits to Fresno for the ego boosts derived from thinking about how many people he and his associates fucked in town. Entertaining tanning bed distributers at the cabin bar during the flight to Dubuque, Iowa for their missionary work (if ever there was a population comprised solely of pasty individuals in need of a little “face paint,” as Moz likes to call it, it was in Dubque). Throwing $500,000 in small bills out the window over a cattle ranch in Montana, and making 100 Countrywide staffers pick up and return every last dollar. Shit like that.

And now he's being involuntarily stripped of these memories, like the chemical peel he so desperately needs but refuses to get. Anyway. I’m not sure there’s anything any of us can do about it, but I just felt you should know. If I'm wrong, and you do have the scratch, there's contact information for some Countrywide guy named Patrick Johnson who I guess is handling the sale. Give him a buzz in the office at (818) 778-1770, or try him on his cell at (203) 890-2000. This is important.

1990 GULFSTREAM IV [Controller]

* Yeah I know he "said" he wouldn't use the company plane but we're talking about Angelo Mozillo here and need to take everything that comes out of his mouth with a giant grain of If I'd screw you for a nickle, you don't even want to know what I'd do to you for a free ride on the corporate jetTM salt.

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Posted in: Countrywide, Planespotting, The I'm Asking You For A Favor Series

Comments

Posted by , Feb 08, 2008 11:54AM

Mozilo voluntarily gave up his access to the corporate jet in conjunction with forgoing the $38 million severance package.

Dude can afford his own jet anyway.

Posted by Stranded, Feb 08, 2008 12:07PM

I've been to d-town. Not pretty.

Posted by Living the Dream, Feb 08, 2008 12:08PM

Maybe Thad can use some of his cash and put a down payment so he doesn't have to fly first class from next year's Super Bowl.

Posted by , Feb 08, 2008 12:17PM

"Throwing $500,000 in small bills out the window over a cattle ranch in Montana, and making 100 Countrywide staffers pick up and return every last dollar. Shit like that." Comedy perfection

Posted by Anonymous, Feb 08, 2008 12:21PM

Maybe Todd T can get this on the cheap....looks in good enough condition to not bruise Maria's knees?

Posted by s75, Feb 08, 2008 12:27PM

It has been a long time since there was a good planespotting post up here. How did this topic ever fall off the radar?

Posted by anon, Feb 08, 2008 12:34PM

i met him once during a road show, he has the softest hands ever... like leathery butter, mmm

Posted by Hand job!, Feb 08, 2008 12:54PM

@12:34 I don't want to even think of where those hands have been. Gross. I see a lot of guys don't even wash their hands. And what if he 'cleaned his pole' earlier in the day. That's not butter!

Posted by Walter Payton, Feb 08, 2008 1:02PM

But Mozillo is playing Pebble Beach today and we're not.

Posted by Tan Man, Feb 08, 2008 1:16PM

Awesome. You can even see the Countrywide logo on a monitor in the second picture.

Posted by 11:54, Feb 08, 2008 1:27PM

touche. all i have left to retort is there is only one 'L' in 'Mozilo' and i suppose even that may be a lie.

Posted by Anal_yst, Feb 08, 2008 1:30PM

$21million is WAY too much $$ for a 1990 G IV, hell $21mil could buy you a virtually brand-spankin new $150+ ft yacht (just ask John Devaney)

Posted by anon, Feb 08, 2008 1:31PM

@ HJ 12:54 - it would have been better if he cleaned his pole with butter on the gulfstream - there's a mental image to carry you through the weekend.

Posted by anon anon anon, Feb 08, 2008 1:59PM

I will remember Moz's "Protect the House" pr compaign fondly.
I think McCain and Obama are where they are because people have finally found a way to shout out loud, "We can't take the bullshit anymore and we are mad as hell."

Posted by BSD, Feb 08, 2008 2:30PM

Anal_yst,

Not a steal by any means, but considering it has a very decent number of hours or "mileage", not a rip-off either. Cabin definitely need an update though. Comparing yachts to planes is like saying you can get 10 new Murcielagos for the same price. Props for sticking it to Devaney though.

Posted by series7.5, Feb 08, 2008 2:32PM

People forget that angelo mozilo was one of the only few bank executive who stood up to say Yes we need the GSEs, even though they are competitors, when everyone else arguing you can get rid of Fannie and Freddie because banks and hedge funds are all the liquidity providers the mortgage market needs.

What do we have now? A conforming mortgage market that functions smoothly almost exclusively because of GSE imprimatur and a non-conforming/jumbo market that is a joke at best and a real threat to the global economy at worst.

Okay I'm done.

Posted by Anal_yst, Feb 08, 2008 3:22PM

@ BSD

The fact that we both apparently know enought about the yacht & plane secondary markets raises a few interesting questions, among them, why the hell we're in finance when we could be hanging out in Ft Lauderdale (Monaco, etc) selling yachts and schmoozing with beautiful people on beautiful machines...

Posted by BSD, Feb 08, 2008 3:31PM

Anal_yst: Maybe it's just me, but I'd rather be buying the plane than selling it (even if so far the best I can do is a Marquis card).

Posted by Anal_yst, Feb 08, 2008 4:20PM

No doubt my friend, but taking what a 2% rip on selling a $100m worth of sales a year wouldn't be too bad, if you were a thug of a salesman, and its a helluva lot better than sitting behind a desk (and you'd have a tan to rival Moz himself to boot!) I've seriously been told by numerous people I should just go into yacht sales, and no doubt, on those days where you want to throw your monitor/the kid next to you out the window, really considered it ha

Posted by Don't know, Feb 08, 2008 4:23PM

@ Hey anonymous................................did you say Bartiromo has flown in this corporate jet? What did you hear? Tell us all.

Posted by anonymous, Feb 08, 2008 4:47PM

Not sure if Maria has gotten carpet burns on that one (but wouldn't surprise me is she rubbed her Manolos up against the Lizard)...after doing Todd-t on the Citi G-V, she might no longer be putting out on anything under a BBJ or G-V..

What a ho! But I'm sure her butt (personal solar eclipse)hurts when she's on top

Posted by Amigo, Feb 08, 2008 4:51PM

Gracias Senor Anonymous.....I love that stuff. Mas?

Posted by anonymous, Feb 08, 2008 4:58PM

Long ago before Maria married lucky sperm, she dated a friend of mine. He said she was a very sloppy one who was best enjoyed from the neck up and best viewed from widows peak down. Me think she is absolutely biggest biz-journo ho ever.
I look forward to the day she sits down to be interviewed by Tera Patrick or Jenna Jameson, then she'll feel right at home!

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