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Citigroup Ground, For Real

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See those buttery leather chairs up there? Though they once expected, and probably looked forward to, housing Vikram Pandit's ass, that's apparently never gonna happen (at least not on his employer's dime). The official word has come down from French planemaker Dassault Aviation that Citi has actually canceled its order for three Falcon 7X jets. We knew this day would come but being told to brace ourselves for impact has done little to minimize the pain. In January, the Big C put out a statement that it had "no plans to take possession (after people found out they that's exactly what the bank was going to do), but we didn't really believe it because this is exactly the sort of thing they'd lie about, and because we assumed someone would wake up and realize Vikram and his crew need to fly in style. (Obviously this notion was taken into consideration, since Citi didn't actually cancel the flight 'til last month.) RBS has also canceled its order of a Falcon 7X business jet worth $40-45 million, which is disappointing.