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      01-27-2009, 11:05 AM   #1
BForbes
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Obama: NO JET FOR YOU!!

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According to a report from ABC News, President Obama is not taking kindly to corporate greed, especially when it's funded by taxpayer money. Read more from ABC here:
The high-flying execs at Citigroup caved under pressure from President Obama and decided today to abandon plans for a luxurious new $50 million corporate jet from France...

ABC News has learned that Monday officials of the Obama administration called Citigroup about the company's new $50 million corporate jet and told execs to "fix it."
On Monday, the news broke that bailed out bank was going through with its $50 million private jet purchase even though it had recieved $45 billion in government funds:
The New York Post's Jennifer Keil and Chuck Bennett reported in Monday's paper that Citigroup, which has received $45 billion in government bailout funds, is about to upgrade to a new $50 million, twelve-seat corporate jet.

The plane, the Dassault Falcon 7X, is a luxurious jet with a range of 5,950 nautical miles (meaning it can fly from New York to all of Europe and South America, as far east as Riyadh, and as far west as Honolulu or Petropavlovsk, Russia). The Post reports it has "plush interior with leather seats, sofas and a customizable entertainment center."
No soup for you? Nah. NO JET FOR YOU! I think these banks want to see how much breathing room they have. Bastards.
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      01-27-2009, 11:32 AM   #2
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I'm just pissed that it was not bought from a US company.

I don't see Obama, Pelosi and crew cutting down on their tax payer paid jets.
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      01-27-2009, 12:03 PM   #3
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I dont see them buying unnecessary luxuries that benefit 12 people at a time for 50,000,000 dollars either. I do see him freezing pay rates for his admin though.
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      01-27-2009, 05:08 PM   #4
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every little bit counts. when you owe 50 trillion dollars, you gotta start somewhere.
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      01-28-2009, 01:08 AM   #5
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Originally Posted by EK_335i View Post
I don't see Obama, Pelosi and crew cutting down on their tax payer paid jets.
The President does NOT choose his mode of transportation. These choices are made by the Secret Service. These choices are properly in the hands of security experts, not the fodder of petty politics.
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      01-28-2009, 10:00 AM   #6
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my neighbor is a pilot for netjets...they added 50 new corporations in December...companies are closing their inhouse flight services and buying shares in netjets...
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      01-28-2009, 10:45 AM   #7
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Interesting - Is NetJets a public company?

As for the Citi plane deal - Bad taste of a company to buy a corporate jet after getting its tin cup filled up by a government bailout.

Let Vik Pandit and his loser board ride commercial like every other working slob (like myself).

Citi is a management/leadership disaster. I bet they wish Jamie Dimon was at the helm
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      01-29-2009, 05:26 PM   #8
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WOW OBAMA IS SICK!!

but hold on they eventually still went and bought the jet?
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      01-30-2009, 11:30 PM   #9
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WOW OBAMA IS SICK!!

but hold on they eventually still went and bought the jet?
I think they declined to take delivery on it.
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      01-31-2009, 08:23 AM   #10
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The government (taxpayers) should demand an immediate refund of ALL of the government money Citigroup has been given, with the highest interest rate Citigroup would have charged their customers and compounded daily. If they have the funds to splurge on a foreign luxury aircraft (or any aircraft for that matter), they have demonstrated they are not in the dire straits they've purported themselves to be.
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      01-31-2009, 10:53 AM   #11
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Quote:
Originally Posted by SoYank View Post
The government (taxpayers) should demand an immediate refund of ALL of the government money Citigroup has been given, with the highest interest rate Citigroup would have charged their customers and compounded daily. If they have the funds to splurge on a foreign luxury aircraft (or any aircraft for that matter), they have demonstrated they are not in the dire straits they've purported themselves to be.


Yeah, I wonder what they would say if I called in and said i couldn't pay my Citi credit card bill, but they pulled my credit and found out I bought a brand new car the previous day...
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      02-17-2009, 02:58 PM   #12
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Fucking bastards. This sort of corporate nonsense pisses me the fuck off. Makes the public feel helpless. Imagine how long these people have been splurging on luxurious crap that they don't NEED, all at our expense. Yet, as the person above me stated, once we're late on our credit card payment they fucking hunt us down like dogs. Fucking piece of shit corporate america (I didn't capitalize the A in America on purpose )
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      02-17-2009, 04:28 PM   #13
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It isn't limited to corporate America. I got an offer in the mail today from Barclay's Bank for a (preapproved) loan. Banks here are giving 0% interest on savings accounts and Bank of England's base rate is 1%. What rate was this loan?

19.9% APR!

Thanks, but no thanks. If I need to spend money I'll take it out of my 0% savings account. After all, it's just sitting around doing nothing. In my mattress at least it would likely let me rest comfortably.
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      03-10-2009, 03:38 AM   #14
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Is this surprising?
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Being a fan of Honda engines, I requested that they consider building for the F1 a 4.5 liter V10 or V12. I asked, I tried to persuade them, but in the end could not convince them to do it, and the McLaren F1 ended up with a BMW engine.
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      03-18-2009, 11:36 AM   #15
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Citigroup shouldnt have a new jet... but the equivalent injustice is Pelosi's demands to use a 737 or a large jet, because she cannot be bothered to fly in a smaller, more economical jet, which requires one fuel stop to go from DC to CA.

Anyone carping about global warming and pollution should be taking the train. I can't help it that it takes a few days by train from DC to CA... Not my problem.
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