I know all you people want is to see Vikram Pandit and his pals flying in style but it looks like that may not happen. Or maybe it will! I really don’t know what to believe. Yesterday, in response to questioning regarding Citi’s possible acquisition of a $50 million, French-made Dassault Falcon 7X, Bill McNamee, head of CitiFlight Inc., told the Post, “Why should I help you when what you write will be used to the detriment of our company?” which translates to “hell fuck yeah (HFY), we bought that bitch and I’m sorry, we’re not sorry we did.” Then Senator Levin (D-MI)– no relation– got worked up over the use of taxpayer money going toward’s Count Vikula’s late in life dream of joining the mile high club, and Obama (via spokesman Robert Gibbs) noted that private jets aren’t “the best use of money,” and Rep. Frank threw in his two cents, and we had a scandal on our hands.
Now the Big C has a statement out claiming it has “no plans to take possession” of the aircraft. But at the same time, Citi spokeswoman Shannon Bell told the Post that the bank is “exploring all of its options,” including “the potential lease of the aircraft,” and presumably also the potential not-leasing of the aircraft. Plus, Bell also reminded us that C is in the process of selling two planes, so, really, if you think about it, they’re down one, and need this thing.
UPDATE: According to Steve Liesman, Citi put out it’s backtracking statement after receiving a call from a Treasury official last night.
Comments (35)
Leave a comment
You can log in with your account or comment as a guest below.
That’s a fucking enormous flowerpot. Citi still living the dream through flora.
Sure, why not? Citi steals $300 billion from the taxpayer (no different than Madoff except Citi feels they are owed)at will, so what’s a $50M Falcon? Hopefully it comes with the some vaseline for all those US taxpayer who have been bent over.
These idiots at Citi honestly believe they bear no responsibility for running the company into bankruptcy as the downfall of the company was due to economic and market conditions, not because of poor decisions they may have made.
As they bear no culpability for ruining the company, why should the suffer any of the consequences?
That’s a fucking enormous flowerpot. Citi still living the dream through flora.
Anybody have the numbers on this purchase, at this stage in the cycle cancellations can run 50% of agreed price. Probably not the way to go. Resale on these birds is way off, figure they’d eat 15m on that option. Taking possession makes the most sense. Maybe they should offer to ferry Senators whenever they need to go.
Hey EP, is this a nice ride? Could you fly it for Vik given the right inducements?
@5: Ding, ding ding!!!
You are the big winner!
The congress critters are just p.o.’d that they “officially” have to be shuttled around in creaky old military aircraft…when they are not being bribed; I mean, on a fact finding mission, sponsored by a campaign donor, I mean, lobbyist, I mean, interested corporate parties.
They’re just jockeying for the first ride on the new luxury bird…
Who gives a crap what those idiots Obama and Co think?
The balls on these guys are fucking enormous. I wonder how any of them can walk.
A woman wouldn’t be so brazen.
..especially when they pissed millions away on his greatnessess inauguration?
@5,7 great points. Will we see similar Congressional outrage the next time there is a story about Congressmen being flown on corporate aircraft?
I certainly hope the Post will be as diligent about that as they are about checking on Citigroup’s fleet.
@8
Who gives a crap what you think?
There’s a new Sheriff in town.
All Wall Street CEOs should be in prison for the rest of their lives. They ruined their country with their unbridled Greed!
@13
c’mon mom, stop following me around on my websites
@9 I see we’ve degenerated into flaming people and insults here. A new sheriff eh?..please go away and annoy someone else with your infantile comments.
Citi knows what it’s doing. French plane and . . .
http://www.nytimes.com/2009/01/27/business/economy/27layoffs.html?ref=business
Nice touch.
@15
Are you new here? You probably should go away.
@17
I’m new here, wanna spoon?
@16
That was in Opening Bell but good catch, top form.
Vikram responds to the Senate, “Yes We Can!”
C’mon, go big or go home. With the private jet you get a chance at a hum job from Maria B. Then the right to wear the coveted, “i love lipstick around my dipstick” t-shirt.
-BeckyInAParka@DavosFan
@ 18, you live in a small world.
So does this mean Obama will stop wasting taxpayer money redecorating Air Farce One? Or would that be too consistent?
What are those delicious looking pastries on the front plate? They come in so many colors!! I wish I was a hedge fund CEO, so I could fly in comfort and style. Zooooom!
@22
Change We Can Believe In
Dust yourself off and get back to work.
http://finance.yahoo.com/news/Chastised-Citigroup-grounds-rb-14165409.html
no go for mr. v and his super jet
23 Those pastries are called macaroons. The french version, not the heavy ground coconut NY variety. You find them at Ladouree in Paris, and places like Maison du Chocolat on Madison/78. They are, in addition to being very expensive, absolutely delish. Light as air. And these are the big ones, which are really expensive.
Nothing but the best for Dinesh or whatever the fuck his dothead name is.
@ 22…calm your ass down!
Hey 22, I’ve got two words for you.
I Won.
- President Barack Obama
@ 27…thanks. I’m headed to the Maison du Chocolat on Wall St. afterwork to chow dowm like VP. Take a look at these : http://www.lamaisonduchocolat.com/en/#/creations/macarons/1
The macarons at La Maison Du Chocolat are ridiculously good. Crisp on the outside, chewey in the middle. Not cheap, but worth it – a bag of 6 large ones will run you about 4 shamwows. Don’t waste your time with the little ones, they lose the proper crisp/chewey ratio.
To all the foolish believers:
“no plans to take possession” of the aircraft. But at the same time, Citi spokeswoman Shannon Bell told the Post that the bank is “exploring all of its options,” including “the potential lease of the aircraft,”
Key comment: “the potential lease of the aircraft”…
Will say: We call our friends at GE, fund the clunker with zero FED money and lease it back…alas it’s off the books…and all those Barney Hot-Dog and Chris Dodd types can enjoy their next election campaign or vacation in French luxury.
BY ANY OTHER NAME, THIS IS DISRESPECT AND ABUSE, OF TAXPAYERS AND SHAREHOLDERS
http://pacificgatepost.blogspot.com/2009/01/disrespecting-taxpayers-shareholders.html
The White House and Congress continue with misguided policies, and incompetent distribution of taxpayer money.
PANDIT: GIMME A TICKET FOR AN AEROPLANE
(Gimme a Ticket for an Airplane, Don Williams)
WilliamBanzai7
Gimme a ticket for an aeroplane
I ain’t allowed to buy a new French jet plane
Oh the good ol days are gone I’m a goin’ coach
Tim Geitner jus’ wrote me a letter
I don’t care how much airport time I gotta spend
I got to go back to be bailed out once again
Oh the good ol’ days are gone I’m a goin’ slow
Tim Geitner jus’ wrote me a letter
Well he wrote me a letter
Said he could live with one less Wall Street bailout whore
Listen mister can’t you see
I gotta go back to get bailed once more
Any way yeah
Gimme a ticket for an aeroplane
I ain’t allowed to buy a new French jet plane
Oh the good ol’ days are gone I’m a goin’ coach
Tim Geitner jus’ wrote me a letter
Well he wrote me a letter
Said he could live with one less Wall Street bailout whore
Listen mister can’t you see
I gotta go back to get bailed once more
Any way yeah