With $45 billion from American taxpayers, Citigroup now can easily afford to pamper its executives – and to do so with a new $50 million corporate jet purchased from French manufacturer Dassault. The New York Post broke the news Monday, Jan 25. The Falcon 7X easily accommodates 12 Citigroup execs in quiet comfort at speeds up to 559 mph.
And, let’s see, former Merrill Lynch boss John Thain dropped a tidy $1.2 million redecorating his office. Then, he handed out billions in senior management bonuses just before the company was taken over by Ken Lewis and the Bank of America - at taxpayer expense. Then, Lewis fired Thain. [By the way, Thain's interior decorator was Michael S. Smith, who will redo Michelle Obama's White House for a mere $100,000, according to CNBC; what a bargain, and lots of press.]
And there were the brazen Detroit "Big Three" CEOs from GM, Chrysler and Ford, who winged into D.C., where they begged for and received billions of taxpayer dollars so they could survive for three more months - until March.
All of this makes you homesick for ex-Tyco CEO Dennis Kozlowski and his $15,000 umbrella stand, $2,200 wastebasket, and other truly major indiscretions for which he was sentenced to 25 years of room and board at government expense.
Where have common sense and business judgment gone?
No comments:
Post a Comment