Northwoods gal’s Blog


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Bail Out Money Flew Out The Window

Citigroup decided to get its new wings two years ago, when the financial-services giant was flush with cash, but it still intends to take possession of the jet this year despite its current woes, the source said.

“Why should I help you when what you write will be used to the detriment of our company?” replied Bill McNamee, head of CitiFlight Inc., the subsidiary that manages Citigroup’s corporate fleet, when asked to comment about the new 7X.

“What relevance does it have but to hurt my company?”

It’s not uncommon for large companies to pay a deposit on a new plane then cancel the order before delivery, according to a source in the corporate aviation business.

Citigroup execs are also quietly

I understand Citigroup set out two years ago to buy the jet. The right thing to do now is to cancel the jet. These reports we are hearing about, and I am sure many more we are not hearing about is why the bail out did not work, nor will work.

We need and should be outraged, this is abuse of our money, we are paying for this jet!

While citigroup is will be flying pretty with our money, they will be cutting some 50,000 jobs!


Filed under: News Bites

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