January 26, 2009

Off the Jetway and Into the Stocks

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pillory_stocks.jpgWord is out that Citigroup is finalizing the purchase of a $50 million corporate jet, complete with a luxury interior that includes leather seats, sofas, and a customizable entertainment center. The new jet will be managed by CitiFlight Inc., a Citi subsidiary that manages Citigroup’s entire fleet of corporate jets.

Why is this all so outrageous? (1) Because Citigroup has received $45 billion in taxpayers funds as part of the bailout program, money earned by hard-working American men and women who have never so much as sniffed first class. (2) Commercial air travel still exists in this country! Citigroup executives don’t even have to fly coach! They could fly business or first and still save money!

There is only one solution here. Please see the photo at right. President Obama, make it happen.

Update: Opprobrium works! Citigroup is backing down.

HERE ARE THE FACTS:

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ONE MORE QUICK THING:

Our fall fundraising drive is off to a rough start, and we very much need to raise $250,000 in the next couple of weeks. If you value the journalism you get from Mother Jones, please help us do it with a donation today.

As we wrote over the summer, traffic has been down at Mother Jones and a lot of sites with many people thinking news is less important now that Donald Trump is no longer president. But if you're reading this, you're not one of those people, and we're hoping we can rally support from folks like you who really get why our reporting matters right now. And that's how it's always worked: For 45 years now, a relatively small group of readers (compared to everyone we reach) who pitch in from time to time has allowed Mother Jones to do the type of journalism the moment demands and keep it free for everyone else.

Please pitch in with a donation during our fall fundraising drive if you can. We can't afford to come up short, and there's still a long way to go by November 5.

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