Citigroup jet

[pwd72s]

Originally Posted by Aurel

The most efficient approach would be to cut their salaries to reasonable levels. Especially when they run companies to bankrutpcy.

I wonder if we should cut professor salaries in State Universities, since it's pretty obvious they don't do much actual teaching.

[Aurel]

Originally Posted by pwd72s

I wonder if we should cut professor salaries in State Universities, since it's pretty obvious they don't do much actual teaching.

I think much greater savings could be achieved by cutting social security and health benefits to retirees. After all, you guys can provide for yourselves .
And besides, I am not paid by the State, and I am research professor who does not teach. Told you that many times, but I am afraid your memory must be failing now .

[willtel]

Originally Posted by Taz's Master

I have a few questions:

What were they doing before the purchase of the aircraft? Flying commercial, or did they perhaps have (an) other aircraft for this purpose? Was this done for cost savings, or as an upgrade? And more importantly, is it possible to save $50 million up front and charter a business jet when necessary?

This isn't their first purchase from Dassault. They got a windfall and hoped to send $50 million of it to France for a shiny new jet, typical "ghetto rich" mentality.

Originally Posted by New York Post

Citigroup execs are also quietly trying to unload two of their older Dassault 900EXs.

Those jets, nearly 10 years old, are worth an estimated $27 million each. They were still listed for sale yesterday on the Web site of Citigroup's aviation broker, Aviation Professionals.

[pwd72s]

I agree. I think it's ridiculous that Government pays me only because I got old....

The point I'm trying to make with all these posts, a point nobody seems to have caught on to... The media is falling all over itself reporting on what it considers excessive spending in the private sector. It is conveniently ignoring Government spending excesses.

[onewhippedpuppy]

I don't work for Falcon jet, so I can't comment on the differences between their aircraft. Newer jets often have greater range, speed, and efficiency than their predecessors. These improvements can often justify a new purchase. Was that their motovation? Could they have gotten by with a mere Cessna Citation?

I will, however, agree that a struggling company receiving government money could probably get by with their used jet.

[dd74]

I'm beyond being amazed or getting angry. Indiscriminately throw close to a trillion dollars at an industry that to begin with, has suspicious business practices, and stuff like a $50 million jet invariably comes up in the mix. It's not surprising (as he shrugs).