Posted on 01/27/2009 7:57:33 PM PST by Yo-Yo
Global financial services company Citigroup today cancelled an order for a Dassault Falcon 7X business jet to be delivered later this year as pressure mounted from the US Congress and even the White House.
The action is an about-face from the company's staunch defence of its order on Monday, telling news outlets that the purchase of the $40 million long-range business jet would proceed. Citigroup last year secured $45 billion in aid from the US government to continue operating amid the financial meltdown.
Key critics of the deal included Michigan Senator Carl Levin, whose home-state automobile manufacturers shed their corporate jets and flight departments in exchange for government financial aid late last year. Levin had threatened to have the US government block the 7X purchase.
Can the manufacturer sue for breach of contract?
The bailout never should have occurred. This should never have been in question.
Are the taxpayers going to get anything from this cancellation?
a drop in the bucket.
who cares?
the idiots that focus on this stuff miss the important things going on.
For a nice sized jet that is one piddly-assed small front tire setup.
There are definitely costs for this cancellation. If the cost of purchase were supposedly an assault on taxpayers, then this cancelation is costing us.
If there had been a bankruptcy, then, of course, the taxpayer wouldn't have been left holding the bag.
What? Of course this company which is about to get another massive bailout can not buy a 40 million dollar jet. I heard on one of the financial channels that Obama may have called the CEO personally.
It’s more than three times what the auto companies received...hardly a drop in the bucket. Why do these bankers get a pass on this forum?
The CEO can cover the cost with one of his fat bonus checks...he can afford it.
The One and the press focus on this. Meanwhile the “Stimulus” package grows like Rosie O’Donnell at a buffet.
Look, I hate the banks, too. But they play a much larger role in the economy than your precious UAW. Deal with it.
Still, one should ask Senator Carl Levin if he’s ever been on a private jet...seeing as the taxpayers have been fleeced by his type for decades.
So govt rules private industry now, and tells it what to buy and not buy, but hey, the govt gives them the money now, and we’re the new nationalized socialists.
I ask because these aircraft don’t roll off the line in a week. Usually, you have to place an order a year or two in advance.
Aint socialism great.
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Yeah more responsible banking.
Of course some asshats around here are champions for the por down trodden banks that blew their cash and are now stealing ours.
Aint socialism great.
They accepted tax money and yes, this means the government can tell them what to do with it. This is just a start. The bastids need to give back their bonuses as well...the financials caused this mess...Citi laid off thousands as well recently. The Citi stadium project needs to be stopped as too. The top management needs to go or work for a dollar just like the Auto CEO’s agreed to. What are bankers entitled to special consideration because they destroyed their companies? the arrogance of these cretins is astounding.
Good. Let the Frenchies use it to fly more Mohammadans into France from North Africa.
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