Citi Jet purchase: $50 Million, 12-seat plane despite $45 billion bailout

Your tax dollars at work. :(

This is crap, THE FUC*** American Government allows this, just like all of the other Corporate Companies that are falling. Why should America pay the debt of GREEDY SONS OF B*****. Why should the rest of America suffer because the lack of education and morality of their leadership. Corporate America is evil and only cares about profits, and the poor and mediocre people like me need to bail these fuckers out. While the Rich get Richer.

They probably read that paper and started laughing. And they were petting a cat as well. Get where im going with this whole evil doer thing...

I hope the jet has engine failure. While America is in a recession, there out buying new toys. Nice -_- They should have to use there own money for their ballout.

Ripped off again

You have got be kidding!! My tax dollars go to make executives that bankrupted their companies in luxury. Let me the fly coach or better take the bus.

Jesus... this country is fucked.

What a Joke!

Are you being serious?! These people get the bailout and don't even do anything to save there business with it. I mean is this a early April fool's?

One more thing. The reason we attempt to save these greedy people is because if we didn't we would not have the luxuries we've become accustomed to in everyday life and would then not know what to do. I mean look at how many jobs the auto industry Alone provides.

as more and more of bush's legacy comes out... what a wonderful waste of tax money, on with the enslavement... how do you like your tax money at work... wonderful no?

that bail out was put to good use... that is a nice jet... to bad they did not post the news on their lovely bonuses, i bet they are about as lovely as that wasted 50 million...

the article shows who we really are, we shout and we stammer, we pout, but we do nothing. there should be a blog that would allow, we the people to do something about this , we should be able to contact our senators congressmen and make them return the plane or pull their money and let them go under, that is better than stamping our feet. we the people need to get up on feet and start letting our "leaders know we exist ,have a brain ,want action and wont stop until we see results ..in this case return of the plane

Whos really surprised?

What a waste. We can do something about it by contacting our elected officials. DO IT!

Treasury Dept and some in Congress and the White House advised Citigroup that this would not be a wise choice for a company that received taxpayer bailout money. Citigroup has cancelled the sale. fly coach... scumbags.

And people call me unpatriotic... sheesh.

Is anyone shocked by this? They'll be asking for more money this year. Why aren't Americans rioting in the streets yet?

Before you people go off of the deep end, one needs to understand a few things. First, this plane was ordered 2 years ago. I'm sure that the company asked for and got a huge deposit. Secondly, Citi Group was going to and will sell off some of it's other fleet to offset the expense. Then there is the Green factor. This new plane will actually be more efficient to fly. By the way not one of you has seen the amount of people it took to build this plane. Lots. Those are jobs that were not lost. along with the original deposit I'm sure that there was payments as the plane progressed. So you see, not all 50 million dollars was spent at one time and none came from the TARP fund. If the Democrats that came to power in 2006 had not reduced the qualification for home loans, the country would not be in this mess now. Open you eyes! Don't drink the Kool Aid!

Why is everybody so worked up over this? The article states that the comany is selling two aircraft for $27m each - meaning they'll actually be saving 4 million dollars, in addition to vastly reduced maintenance costs on a newer aircraft, less pilots to pay, etc.

Executives have important jobs. They conduct massive deals daily, and rely on interpersonal skills and relationships that simply cannot be fostered though teleconferencing. Our executives' ability to quickly be around the world conducting business is a great deal of what made our country a global leader.

Yes there is a significant amount of corruption in our society, however people please just read the facts instead of bleating about something you don't bother to take the time to understand.

Good point on the sale skuzbuket but they can still start flying coach and use the $$ made from the sale of the old planes to pay us back.

So we all get a key to the new jet, yes?!

I'm afraid not VTJimO. You'll be getting back 4 million plus the savings to the company in reduced operating costs. In addition you may be able to get a loan if you need one. Bonus!

Great work America

Way to go Citibank! This is one of the reason's I was against the bailout

Update; The cancelled the purchase!!

Update: They are cancelling the purchase

I hope not. Who then pays the balance for the plane? This may seem on the surface to be a good thing but in reality it's not. Now there will be more jobs lost. Pathetic.