I wrote to Citi to share my disgust for their corporate executives’ continuing extravagances. Over the past few days, news reports have indicated Citi’s newest corporate toy: a $50-million dollar Dassault Falcon 7X corporate jet.
Check out the plane at: http://www.dassaultfalcon.com/aircraft/7x/
I suppose with $45 billion in new capital recently injected by you and me, the lowly taxpayers, via the banking bailout, they have money to burn. Here’s how they responded:
_______________
"In 2005, Citi signed a contract for replacement aircraft, which was part of our plan to reduce the number we own and use more fuel-efficient models to save on operating costs. However, we have no intent to take delivery of any new aircraft.
Our policies governing the use of our current aircraft are strict and enforced. We limit use to a small number of executives who fly commercial whenever possible to reduce expenses. To support this effort, over the past eight years Citi has cut back its number of aircraft by two-thirds, and we continue to explore ways to reduce all our assets."
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment