Tag:
Corporate Jet
Latest Headlines
Latest Headlines
No anger over corporate jets this time
Recall that in 2008, automotive executives outraged many when the traveled to Washington on corporate jets to ask for bailout funds. The media had a field day. Since then, the media has feasted on stories of executive perks and excesses, and of course big bonuses at banks that were on the TARP dol
Bank of America's luxury hotel
Banks receiving TARP funds have been beaten up--fairly or not--for lots of practices that seem untoward: Office renovations, corporate jet use, sports marketing deals and bonuses. So what to make of Bank of America's entry into the luxury hotel business? USA Today reports that the bank is set
JPMorgan to delay jet purchases
ABC News reported on Monday that JPMorgan Chase intended to spend roughly $120 million for two Gulfstream planes and an $18 million renovation for Westchester Airport's hangar. The news didn't go over so well, but the bank had the sense to make the planned spending a non-issue by promptly gett
Should banks rush to pay back TARP funds?
Should the likes of Goldman Sachs and others rush to pay back their TARP funds? You might think that execs were incented, now that they can only make $500,000 a year. You might also think that they would want to stop being second guessed about such things as corporate jets. But Breakingviews n
Why the Mets deal is right for Citi
We noted not too long ago that it's hard to do business when PR issues are driving so many decisions. The decision to drop the purchase of fancy corporate jet was inescapable after the media got wind of the deal. But there were some other considerations. In the case of the marketing deal with the
Can Ken Lewis survive?
It's bewildering how fast the personal stock of Ken Lewis is dropping. The only thing dropping faster is the stock of the bank he captains, Bank of America. Investors have been relentless, pushing the stock down for the last six days to lows that have not been seen in more than two decades.
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Cancelling events not always cheap
Let's face it: Right now, PR is driving a lot of decisions. There are a lot of things that just look bad for a bank to be doing, especially if it received billions in taxpayer money. Million-dollar bonuses are an obvious one, as are marketing deals and corporate jets. But in some cases, canceling
