It is needed for those trips down top, you know, Mexico, and stuff. Seriously. That's a really long trip from the city. Really long. And boring. And since the commercials removed physical standards for flight attendants, well, you know- it is just undignified.
Citigroup Inc., the U.S. bank that got a $52 billion government bailout, said director Roberto Hernandez Ramirez will keep free use of company aircraft and an office after he steps down from the board in April.Hernandez, 66, will keep the perks because he remains non- executive chairman of Citigroup subsidiary Banco Nacional de Mexico, Mike Hanretta, a spokesman for the New York-based bank, said in an interview. The benefits, also including helicopter use and security for Hernandez and his family, cost $2.61 million in 2007, according to a March 2008 regulatory filing.
Citi Director Hernandez to Keep Plane, Helicopter Usage, Office [Bloomberg]
Posted by guest , Feb 19, 2009 9:56AM
Give me WIDECLOPTER or give me DEATH!
Pancho Pandit
Posted by guest , Feb 19, 2009 9:58AM
Ooh...outstanding performance from Mark Haines just then. I think I heard some table pounding.
Posted by Anal_yst , Feb 19, 2009 9:59AM
apparently the entire PR department has been wideclopsed
Posted by guest , Feb 19, 2009 10:00AM
too wet; didn't back.
Posted by guest , Feb 19, 2009 10:08AM
#4 - Well played Sir.
Posted by guest , Feb 19, 2009 10:14AM
Um...this guy is the Chairman of Banamex. In Mexico City.
Have you been reading the news out of Mexico lately?
Would you take a high profile job in Mexico that didn't provide planes, helicopters, and personal security?
Let's stop the asinine bullshit for a minute. This isn't Sandy Weill hanging out in the GM building with a driver idling on 60th St. This is trying to being kidnapped or killed in freaking Mexico.
Posted by Lowly Assistant , Feb 19, 2009 10:14AM
Heh. Very nice tag.
And @1 - I like how Wideclops is now taking on a superheroine-esque persona in our heads. I'd like to think her boots allow hovering, while she shoots lazer-beams from her eyes. Perhaps pink-slip-ninja-stars that cut through diamonds/pitch books with a flick of the wrist?
Posted by guest , Feb 19, 2009 10:15AM
I miss the HindenPeter!
Posted by guest , Feb 19, 2009 10:17AM
@6: Then he can pay for it, like his other retired colleagues, out of his own multi-million-dollar savings account, and not at Citi's expense.
Posted by guest , Feb 19, 2009 10:18AM
Gasparini moonlights as a gay ninja for the Equinox Poof Platoon!
Posted by guest , Feb 19, 2009 10:20AM
Vikram wake up and smell the losses.
You and your team are useless losers, did you notice the world has changed?
Posted by Lowly Assistant , Feb 19, 2009 10:29AM
@10,
Someone has to. No sleeping on the job.
Posted by guest , Feb 19, 2009 10:33AM
@8 How do you afford these things?!
Posted by guest , Feb 19, 2009 10:33AM
@8 How do you afford these things?!
Posted by guest , Feb 19, 2009 10:34AM
CRAP! I double posted. Guest = rookie gay jewbag.
Posted by guest , Feb 19, 2009 10:36AM
@9 - um, idiot, try reading the entire article. While he is retiring from the Citiboard, "he remains non-executive chairman of Citigroup subsidiary Banco Nacional de Mexico."
Why isn't the headline, "Citigroup continues to provide transportation and security for non-executive chairman of Banamex?"
Oh, because that isn't a salacious headline that pumps the populist ire?
Posted by guest , Feb 19, 2009 10:42AM
@9 is an idiot jabberjewey.
Posted by guest , Feb 19, 2009 10:43AM
Well played @ 4 !!!!
Posted by guest , Feb 19, 2009 10:52AM
Why is our government paying for helicopter rides in Mexico? Not cool.
Posted by guest , Feb 19, 2009 10:54AM
Nice @4!
Posted by guest , Feb 19, 2009 10:57AM
@16: Do you know what a "non-executive chairman" does? Basically, show up at events and shake hands. He is not using planes and helicopters to go to business meetings - just like Sandy or Chuck don't. It is a perk, plain and simple.
If he is on company business - by all means, use a plane. But if you look at the article, he was spending $2 mil/year. That ain't all for business travel.
Why you want to defend a multi-million dollar perk for a figurehead position at a bank that has taken billions of dollars (what about all the other Banamex employees - I'm sure they have money - why isn't Citi providing this perk for them, or do you think they're expendable?).
Somehow, the other Banamex-winners - you know, Citi bought it for $12.5 billion - so how about Alfredo Harp, who also was elected to Citi's board after the deal, just to name one? How has he managed to "get by" without private transport. Hmmm.
Posted by guest , Feb 19, 2009 10:59AM
too Citi - couldn't Field
Posted by EricM , Feb 19, 2009 11:12AM
Someone please tell me that Vikram held the line on color copies.
Posted by guest , Feb 19, 2009 11:20AM
Anyone one here give a shit about this column? Raise your hand. Don't see a thing.
Posted by guest , Feb 19, 2009 11:36AM
Why can't they park the copter and let him ride an elephant to work? I'm sure Vik could loan his.
Posted by guest , Feb 19, 2009 11:43AM
Hey, the drug cartel in Mex have their private jets, why not him?
Posted by guest , Feb 19, 2009 1:12PM
@21 - He lost a lawsuit in 2001 against a couple journalists that pointed out Banamex was one of the largest money laundering banks in the world and might even smuggle drugs. OOPS!
Citi needs him to keep that jet...better for us too right, the more drug money that goes in the less taxes we have to pay on their bailout!
Posted by guest , Feb 19, 2009 1:19PM
@27...are you suggesting that Citi is just using him as a drug mule? I guess that's how they plan on paying back that govt money!
Posted by guest , Feb 19, 2009 1:33PM
Question.
I have 100 shares of C that was bequeathed to me as a bonus a number of years ago.
Do I
a) Hold on to it and hope it goes back up.
b) Cash out at $2.60 and buy some XBox games.
c) Ask the broker for the stock certificates and Ebay them when C is no more.
Posted by guest , Feb 19, 2009 1:46PM
@28 DUH! UN recently released a report saying billion of dollars in drug money flowing into the banks and the only "liquid" investment available right now.
People are looking at this the wrong way. If he can smuggle 100 million in drugs a year on his private jet that's a hellova retunrn on investment. Citi would be retarded to give it up!
Posted by guest , Feb 19, 2009 1:54PM
Can anyone guess how many ex-politicos, government mules and such a company such as Citi employs? All in the name of supporting the upper crust?
This kind of crap is what is ruining our country.