Bailout Bucks In Hand – Citi Plans $10 Million Office Refurb For Executives

NEW YORK — Citigroup Inc. plans to spend about $10 million on new offices for senior executives, according to a Bloomberg report Thursday. The changes at the bank’s headquarters in New York City will include a new office for Chief Executive Vikram Pandit. The project is made up of 17 private offices, two conference rooms and open areas, reported Bloomberg. Citi told Bloomberg that the refurbishment, which it began planning in June, will save the bank money in the long run.

One Response

  1. $10M offices?


    I have 3 acquaintances working for a “too big to fail” institution, who will not be getting their anxiously awaited “service anniversary awards”- to recognize each of them having dedicated 25 years to the company.

    You know, the gift selections such as a “table-top” grandfather clock, a crystal vase, maybe a 1/10 carat diamond ring or necklace.

    I would guess that these 3 folks combined do not earn more than $100K per year – ALL 3 COMBINED, that is!!!

    So, the public should know that the big banks are indeed cutting costs, but at the same time….I have to wonder if maybe there would be NO public outcry if the fact that a $30K/year teller received a gift valued at about $750 to honor this type of accomplishment.

    McAuley’s World – I agree wholeheartedly. What has happned to common sense? Your acquaintances deserve the recognition and gifts for their long and loyal service. It was their work that helped make the organization successful for those many years. As is usally the case, once the “Bailout” is over and the sepculators and Officers have been paid in full, the average worker is let go as the business is run down and closed.

    The Bailout money is not being used to “prop up” the economy or create jobs – the bailout money is being funnelled through the banks and AIG to the speculators [Hedge Fund & Hedge Fund Managers] to make them whole. Once they have “pocketed” the bailout money – watch the Government invite them back to “buy” the very same assets we have “bailed out” – While the Tax Payer will have paid these very same speculators 100 cents on the dollar for these very same assets – the Government is about to sell them back to the “speculators” for 20 cents on the dollar, even worse, that 20 cents is 20 cents of bailout money.

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