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]
Give me WIDECLOPTER or give me DEATH!
Pancho Pandit
Ooh…outstanding performance from Mark Haines just then. I think I heard some table pounding.
apparently the entire PR department has been wideclopsed
too wet; didn’t back.
#4 – Well played Sir.
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.
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?
I miss the HindenPeter!
@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.
Gasparini moonlights as a gay ninja for the Equinox Poof Platoon!
@10,
Someone has to. No sleeping on the job.
@8 How do you afford these things?!
@8 How do you afford these things?!
CRAP! I double posted. Guest = rookie gay jewbag.
@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?
@9 is an idiot jabberjewey.
Well played @ 4 !!!!
Why is our government paying for helicopter rides in Mexico? Not cool.
Nice @4!
@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.
too Citi – couldn’t Field
Someone please tell me that Vikram held the line on color copies.
Anyone one here give a shit about this column? Raise your hand. Don’t see a thing.
Why can’t they park the copter and let him ride an elephant to work? I’m sure Vik could loan his.
Hey, the drug cartel in Mex have their private jets, why not him?
@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!
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.
@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!
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.