Off the Jetway and Into the Stocks
Word is out that Citigroup is finalizing the purchase of a $50 million corporate jet, complete with a luxury interior that includes leather seats, sofas, and a customizable entertainment center. The new jet will be managed by CitiFlight Inc., a Citi subsidiary that manages Citigroup's entire fleet of corporate jets.
Why is this all so outrageous? (1) Because Citigroup has received $45 billion in taxpayers funds as part of the bailout program, money earned by hard-working American men and women who have never so much as sniffed first class. (2) Commercial air travel still exists in this country! Citigroup executives don't even have to fly coach! They could fly business or first and still save money!
There is only one solution here. Please see the photo at right. President Obama, make it happen.
Update: Opprobrium works! Citigroup is backing down.