Comments on: Bailed-out companies AIG, Citibank have no plans to cancel expensive sports sponsorships.

By: CParis

CParis — Tue, 25 Nov 2008 03:20:53 +0000

Unfortunately, these sponsorship deals were set months or years ago, before all the poo hit the fan.
But I wonder if there are any other companies out there with deep enough pockets and long term solvency to take over their sponsorships?

By: fletc3her

fletc3her — Tue, 25 Nov 2008 01:13:43 +0000

400 million over 20 years is 20 million per year. If you pay workers 50k annually then you could hold onto 400 of them. It doesn’t really hold a candle to the 53,000 who have been laid off, but I’m sure the 400 workers would be happy.

By: blue state bob

blue state bob — Tue, 25 Nov 2008 01:04:25 +0000

I was watching Man U Saturday (I like soccer, Fox Soccer Channel, I know it’s Fox) and I was sick of seeing that dumb AIG across their shirts. As I don’t like Man U, we can add their asswipe sponsor to the long list of why.

By: VJ

VJ — Tue, 25 Nov 2008 00:25:59 +0000

Newsday notes that last week, Citi announced plans to “let go of 52,000 workers by early next year.”

Yet Citibank is ADDING THOUSANDS of new jobs in the Philippines.

By: Nevar

Nevar — Mon, 24 Nov 2008 21:31:59 +0000

GM has announced that it will be ending its endorsement deal with Tiger Woods.

There’s a start… to get out of the woods.

By: MapleStreet

MapleStreet — Mon, 24 Nov 2008 21:15:56 +0000

Of course, one of the situations leading up to the Depression of the early 30s and the last few years leading to today has been the meteoric rise of executive salaries in relation to the common worker.

I wonder if I’m wrong in connecting today a meteoric rise in professional sports salaries in relation to the little guy (can the common man even afford a ticket ?). And connecting this with the insane bidding of venues wanting to attract the big-name teams with government perks for building new and elaborate stadiums with VIP boxes.

By: Jackie

Jackie — Mon, 24 Nov 2008 21:14:54 +0000

This just the beginning of the largest thief of taxpayers money in the history of America whill Americans look on and do nothing. Many more Big Business friends of the GOP will get more billions from Hank the head Crook. Hank will be going to the Fed for back door billions and then face Congress with more lies and fake stories to make the debt over 15 trillion. Yes this with the hope Obama/Biden can’t recover the economy before 2012.

By: ebbAndflow

ebbAndflow — Mon, 24 Nov 2008 21:03:41 +0000

AIG & Citi could “advertise” on the side of the BIG 3 automakers private jets.

By: Nevar

Nevar — Mon, 24 Nov 2008 21:00:28 +0000

Field of Reams

By: impeachcheneythenbush

impeachcheneythenbush — Mon, 24 Nov 2008 20:56:42 +0000

RUCerious Says:

Is this nbillion part of the 700 billion, or a new nbillion?

I heard today that this is part of the TARP (or the $700 billion).

Time to erect the gallows, as far as I’m concerned.

By: Bozo The Neoclown

Bozo The Neoclown — Mon, 24 Nov 2008 20:52:27 +0000

So, let me get this straight: I’m a teacher in the public school system in a critical need area who will be paying off my student loan for the rest of my life. But, if i were to royally screw the pooch as a CEO making a gazillion dollars a year uncle sam would bail me out and all bets would be off in terms of repayment? something is seriously wrong here

By: the Lone Voice of Reason

the Lone Voice of Reason — Mon, 24 Nov 2008 20:48:39 +0000

This is just like all the money unaccounted for in the Iraq war. Some one needs arses handed to them on a platter for this one. Doubt it will happen though.

By: Keith H.

Keith H. — Mon, 24 Nov 2008 20:48:15 +0000

So now, we the people who actually pay taxes are expected to foot the bill for the corporate ‘bail-outs’.
These sobs have had the benefit of huge tax cuts for how long ?
How many years did they boast of record profits ?
They knew this time was coming and where it would be going, right in their pockets. In the name of ’saving the economy’.
Is it just me or is there a reason to realize and recognize that you have to be able to make money before you can re-pay the money that someone else has borrowed in your name while they tell you that putting you in endless debt is really the best thing for you ? Is all of this bail-out/rescue business not just more of the fascism we have seen ?

By: Bozo The Neoclown

Bozo The Neoclown — Mon, 24 Nov 2008 20:44:27 +0000

The American taxpayer’s are going to OWN met’s stadium? WOO-Hooo, what’s our cut from ticket sales, and the 12 bucks cups of beer?

By: Leftside Annie

Leftside Annie — Mon, 24 Nov 2008 20:35:55 +0000

Hmmmm. I call this “taxation without representation.”

I want my money back!!!

By: StratRat

StratRat — Mon, 24 Nov 2008 20:32:47 +0000

St_Steven Says:

Well, you may not get the efficacy of the advertising, but they can’t stop advertising, or they will be in big trouble. It’s not like they do this stuff for fun. They do it because every time the Mets play on TV the name of the company is brought up 20 times.

No, there are good times to advertise and bad times to advertise. If I was Citigroup and I just begged the American taxpayer for billions and billions of dollars, I would not want my name out there for all to see. Everytime Citigroup is displayed, the taxpayers will need more ointment for our financial injuries. If Citigroup had any gratitude for what we did for them, they would stop spending immediately for anything not 100% necessary – including advertising and sponsorships.

It seems like the US Taxpayer is doing all the sacrificing – not the companies who are sucking at the trough. This is a last ditch effort to raid the treasury – just in time for the holidays.

By: RUCerious

RUCerious — Mon, 24 Nov 2008 20:32:25 +0000

Here’s a marvelous Idea!

Vendors at the Mets Taxpayer Bailout Park could pass a cup up and down every aisle begging for donations to help out CitiBunk!

Only problem is, someone would steal the cup.

By: vinylspear

vinylspear — Mon, 24 Nov 2008 20:20:47 +0000

Wow! free money! All you have to be is top-heavy, inefficient, hedonistic, arrogant, out of touch and in denial to qualify.
Why do we keep swallowing this?
Too big to fail my burro!
There are no dinosaurs for a reason.

By: the brown acid

the brown acid — Mon, 24 Nov 2008 20:10:24 +0000

With all these bailouts going on one has to wonder what is going to become of the dollar..

Are we going to be like, trading labor and direct bartering again in a few years?

By: RUCerious

RUCerious — Mon, 24 Nov 2008 20:09:54 +0000

Zimzone says:
Why are these decisions made on Sundays; because no one’s listening?

I’m fully expecting to read the comics next Sunday wherein General Halftrack asks the Pentagon for a hundred billion dollar bailout for Camp Swampy.