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Feeling Nostalgic? The archives > 71,000 Jobs Lost in One Day...

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message 1: by RandomAnthony (last edited Jan 27, 2009 03:08AM) (new)

RandomAnthony | 14536 comments http://money.cnn.com/2009/01/26/news/...

Man. I mean, best to all these people...a prayer to them, if you're the prayin' kind...

message 2: by Jessica (new)

Jessica (jesstrea) okay, this is not a good response to RA's post above, but...:
"Even porn industry hit by slumping economy":

message 3: by RandomAnthony (new)

RandomAnthony | 14536 comments desperately tries to be mature enough to avoid making a pun using "slumping"

message 4: by Jessica (new)

Jessica (jesstrea) ah, give it up! (maturity)

message 5: by Sally, la reina (new)

Sally (mrsnolte) | 17335 comments Mod
I've heard some CNN grumbling about Citibank using their bailout funds to purchase a new corporate jet.

Something is wrong here.

message 6: by Sarah (new)

Sarah | 13815 comments A super state of the art luxury corporate jet. I think they didn't get the memo.

message 7: by [deleted user] (new)

I think that they got the memo, just don't think that it applies to them. I sure hope that any bailout money in the future has a strict set of rules and procedures, because this is just utterly ridiculous.

message 8: by Sarah (new)

Sarah | 13815 comments New headline on Huffington Post right now says they're being forced to give the jet back:

According to a report from ABC News, President Obama is not taking kindly to corporate greed, especially when it's funded by taxpayer money. Read more from ABC here:

The high-flying execs at Citigroup caved under pressure from President Obama and decided today to abandon plans for a luxurious new $50 million corporate jet from France...

ABC News has learned that Monday officials of the Obama administration called Citigroup about the company's new $50 million corporate jet and told execs to "fix it."

On Monday, the news broke that bailed out bank was going through with its $50 million private jet purchase even though it had recieved $45 billion in government funds:

The New York Post's Jennifer Keil and Chuck Bennett reported in Monday's paper that Citigroup, which has received $45 billion in government bailout funds, is about to upgrade to a new $50 million, twelve-seat corporate jet.

The plane, the Dassault Falcon 7X, is a luxurious jet with a range of 5,950 nautical miles (meaning it can fly from New York to all of Europe and South America, as far east as Riyadh, and as far west as Honolulu or Petropavlovsk, Russia). The Post reports it has "plush interior with leather seats, sofas and a customizable entertainment center."

message 9: by Gus (new)

Gus Sanchez (gussanchez) okay, this is not a good response to RA's post above, but...:
"Even porn industry hit by slumping economy":

They're even talking layoffs.

"Sorry, Candy, but we're going to have to let you go. Your skills as a gangbang enthusiast are no longer needed..."

message 10: by Meen (new)

Meen (meendee) | 1733 comments Nooooo, not porn!!!!!!!!!!!!!!

(Luckily I have plenty saved on my computer.)

Argh, I have to be silly about this b/c if I think about it seriously right now I will throw up.

message 11: by Sally, la reina (new)

Sally (mrsnolte) | 17335 comments Mod
Thanks, Sarah Pi for posting that information. The only link I could find was a video commentary full of bias and opinion. Again I just have to say how thankful I am for Obama in the driver's seat this year. I can just imagine if we still had a Bush in the office how nothing would have been done/said/responded by the white house.
It is funny to me that I'm touched by my president taking a stand on corporate greed. I'd been jaded by too many years of political aloofness.

message 12: by RandomAnthony (last edited Jan 28, 2009 12:31PM) (new)

RandomAnthony | 14536 comments Apparently porn isn't the only "vice" industry impacted by the economy...


Did you know there's a mutual fund aimed specifically at companies in "vice" industries? I had no idea. The brief fund description says the fund "normally invests at least 80% of its net assets in equity securities of companies that derive a significant portion of their revenues from alcohol, tobacco, gaming and defense/aerospace." Ew.

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