Vikram Pandit Butchers 73,000, Buying $50m Jet

Vikram Pandit a.k.a. Desi Butcher is a man with absolutely no shame.

The man is also a f****** idiot.

The incompetent dodo who is clueless in dealing with the mega-crisis facing the beleaguered financial services company Citigroup (of which he is CEO), the desi butcher whose sole mantra to handle the crisis is to hack away at 73,000 Citi jobs, and the shameless beggar who has gotten $45 billion in federal bailout money is buying a $50 million corporate jet.

As if that was not bad enough, Citigroup is buying a foreign plane. The plush corporate jet is manufactured by French company Dassault.

Citi Group Jet
Photo: Dassault

We are not great fans of Rupert Murdoch’s New York Post but today we want to give Murdoch a big, sloppy kiss.

After all, it was the NY Post that broke the story today with a catchy headline Plane Despicable.

Vikram Pandit
Vikram Pandit

Here’s an excerpt from the NY Post story:

The French-made luxury jet seats up to 12 in a plush interior with leather seats, sofas and a customizable entertainment center, according to Dassault’s sales literature. It can cruise 5,950 miles before refueling and has a top speed of 559 mph.

There are just nine of these top-of-the-line models in the United States, with Dassault’s European factory churning out three to four 7Xs a month.

Citigroup decided to get its new wings two years ago, when the financial-services giant was flush with cash, but it still intends to take possession of the jet this year despite its current woes, the source said.

The NY Post says Citigroup is trying to dump two of its older Dassault corporate jets for $27 million each.

No, we are not the only ones to find this $50 million corporate jet affair disgusting (Particularly, when you have taken $45 billion in bailout money and fired 73,000 employees).

This is what Senator Carl Levin (Michigan, Democrat) had to say:

The notion of Citigroup spending 50 million dollars on a new corporate jet, even as it is depending on billions of taxpayer dollars to survive, does not fly….To permit Citigroup to purchase a plush plane — foreign-built no less — while domestic auto companies are being required to sell off their jets is a ridiculous double standard.

Citigroup’s shares closed at $3.33 on the NYSE today.

How long before Vikram Pandit becomes road-kill?

4 Responses to "Vikram Pandit Butchers 73,000, Buying $50m Jet"

  1. the gora   January 26, 2009 at 11:09 pm

    NY Post tells it like it is! Rupert Murdoch, what a great American! You’ll never find Jayson Blair working for the NY Post. The same can’t be said for the rag with the tag line, all the lies, oops I mean news, that’s fit to print. Responds:

    1. You write above: You’ll never find Jayson Blair working for the NY Post.

    Need we remind you of NY Post’s FRONT PAGE Himalayan blunder announcing that John Kerry had picked Dick Gephardt as the VP candidate (almost as bad as Dewey Defeats Truman by Chicago Tribune). We have two copies that we picked up from a newsstand on Madison Ave in hopes of selling it on eBay 20 years from now.

    2. Jayson Blair was an aberration. NYT is still a fine paper…but we doubt they’ll survive for long in their present form.

    Mexican billionaire Carlos Slim has put in some money now. Let’s see what he demands in return.

  2. Harry Butt   January 27, 2009 at 12:09 am

    there is an aberration above 😉 Responds:

    Fixed. Thanks.

    (just wanted to see how alert you folks are 😉 )

  3. SRINIVAS   January 27, 2009 at 12:52 am

    this is the case with many CEO’s across the world ..somebody is decorating his office …somebody is buying a yatch for his wife’s birthday ….all this even when …they are announcing bad results and of course …layoffs ….

    the joke here is that ….companies indulge in cost cutting ….and target everything from stationery …printer …. travel ….tea cups …reducing the milk component ….not having tissue papers ….. Liquid soap becomes like water …….and then spend all the saved money in such a stupid way …

    all along the CEO exhorts the employees to tighten their belts and target all wasteful expenditure Responds:

    Things are headed in a bad way here (in the U.S.).

    And in Congress, the Democrats and Republicans are back to doing what they do best – bickering.

  4. crsathish   January 27, 2009 at 10:24 am

    we can never understand these banking firms. how they manage tax payers $ etc? most of their agenda is hidden?? Responds:

    Good one. Scary though.

    While we think David Walker is right, we can’t help but wonder if this is another Republican trick to cut entitlements for the deserving/poor.


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