High-Flying Citigroup Grounds Plans for $50M Jet

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. The decision came 24 hours after the banking giant, which was rescued by a $45 billion taxpayer lifeline, defended buying the state-of-the-art Dassault Falcon 7X -- one of nine to be flying in U.S. skies -- as a smart business deal. The jet, the epitome of corporate prestige and privilege, can carry 12 passengers in elegant...Full Story
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