'Rescued' Citi Buying $50m Jet

[Shag McNasty]

They, and Washington are too focused on the corporate plane image while ignoring the real issue, piss poor leadership at the top of these companies. These companies don't need to be replacing or eliminating the planes, they need to be replacing CEO's and eliminating bonuses for executives until the company becomes profitable.

I agree 100%

 

[siucavflight]

http://www.youtube.com/watch?v=W91ylWraGhw

 

[Dizel8]

Since when is it the president's job to tell people or buisnesses what IS and ISN"T a good way to spend money? Maybe he should point a finger at congress and say that!!

Okay, no bail out money. Buhbye Citi!

 

[ultrarunner]

Since when is it the president's job to tell people or buisnesses what IS and ISN"T a good way to spend money?....

When the President is dolling out the tax payers money, that's when!

But, I'll tell ya what. Maybe Citi can "opt-out" and go it alone. Lets see how that works for them...buy as may planes as you want then!

 

[LRvsH25B]

When the President is dolling out the tax payers money, that's when!

But, I'll tell ya what. Maybe Citi can "opt-out" and go it alone. Lets see how that works for them...buy as may planes as you want then!

You're right Ultra, he's dolling out the cash, then he has that right. A bankruptcy judge would be even more harsh than this, and you have to get the judge's approval to spend every single dime! Every dime! So, if you don't like the President's input, then opt out and go file the chapter of your choice. Obama could say something about that too, couldn't he? Yep, because since the US is Citi's largest shareholder, he has a whole lot of input, doesn't he?

 

[ultrarunner]

Yep, sure does. But in your latter scenario, the BK judge would take the place of the pres. And, as you know, the BK judge is going to attempt to act in the best interest of the creditor and shareholder.

Since Citi isn't going the BK route, but asking for a taxpayer handout, the Pres needs to have that interjection. I'm ok with that.

But what I'm NOT ok with is these same Corp. buffoons still watching over then hen-house. I think the this is an excellent opportunity to clean-house at the top, and put folks in place that don't mind being held accountable.