50 Million Dollar Jet Paid By TaxPayers

The story at the top of the thread was, at the very least, misleading.

 

I agree with that SF, but does it really bother you? Do you think citigroup will lose more $ for it's shareholders by canceling this order and losing $, or by the negative perception of taking the jet anyway, regardless of how it is presented.

At the end of the day, do you think the average American cares that it was ordered/paid for years ago?

 

I am glad you at least agreed with the matter of the apperance . If they lose the 50 million so what, they have been posted billion of dollars in loses each quarter and received at least 45 billion in aid. 50 million is a blip right now.

 

2 cliches apply: Perception is reality but facts are facts.

Suppose they got the jet without any public scrutiny and a week later Rush or Hannity reports that Obama OK with $50MM Corporate Jet?

 

Well it is an interesting scenario, but it still isn't reality. Fact is, Obama was not ok with it. I see this less as a story about Obama and more of a "WTF were you thinking" about citigroup.

Big business is done in a big way. You don't roll up in a hoopty to do multi million $ deals. And in the long term, this jet might have paid for itself, but again, the public is not going to stand for hearing about these things in this climate. There will be no mitigating circumstances that will make it more palatable for John Q. Public.

And ultimately, the stock price is the responsibility of the officers. While the spotlight is on them, they just need to tread a bit softer.

 

exactly!!!

plus, citibank didnt just need a multi-billion bailout overnight. the indications that problems were setting in and everything was going south had to have started quite a while back. that would have been the time to say "we cant afford this" and paid a penalty or made arrangements to immediately resell instead of taking possession.

imo, citibank didnt look at what was and wasnt necessary at the time things started falling apart, like most of us do.

 

forgot to add....

this is a perfect example why there should have been strings attached to the previous bailout, and should be strings attached to any future bailouts. companies that receive money should be looking seriously for ways to cut cost. not paying bonuses to execs when they had to be bailed out. not paying for million dollar office redecorating. i mean, come on, over $1,000 for one trash can? there are people struggling to make ends meet and keep their homes because of this economic cluster that could make a mortgage payment for what that trash can cost.

as george hw bush would have said, "not prudent".





for the office renovation story, if you havent heard it, read here

 

You guys have totally missed the point of this in the first place.

Why do these corporate types need a damn luxurious jet in the first place.

Let em fly on public planes like the rest of us.

That is the exact problem with corporate america right now.

This is what makes me angry. They dont need a corporate jet.

In days of computers and cell phones most business can be done this way. And they can fly first class thats good enough.