Yesterday's big news was that Citibank - still on the verge of collapse after taking $45 billion in federal bailout money - will not take delivery of a $50 million corporate jet. The question is why they would have ordered it in the first place. Are corporate executives so important that they can't take a commercial flight? If the average commercial plane ticket (economy) cost $350, the money spent just to purchase this plane would have been enough to cover nearly 143,000 flights. That is likely more than a whole year of plane travel for the entire company. And that does not even factor in the millions more it would take to fuel, maintain, and pilot the plane during the year.Imagine the ego it takes to think that you need to be flown everywhere by private jet at shareholder expense. Management that thinks this way, and the boards that approve such practices, are the problem with businesses today. These people need to be removed!
Sorry, just gotta vent.