"Citigroup about to complete purchase of brand new $50 million corporate jet."
The New York Post reports today that Citgroup — the recent recipient of a $45 billion government bailout — is about to receive a brand new $50 million corporate jet:
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. … 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.
“Why should I help you when what you write will be used to the detriment of our company?” replied Bill McNamee, head of CitiFlight Inc., the subsidiary that manages Citigroup’s corporate fleet, when asked to comment about the new 7X.
Earlier this month, a provision requiring the recipients of TARP funds to give up their corporate jets was stripped from the legislation.