Citibank has garnered quite a bit of attention from TARP watchers over its plans to purchase a foreign-built $50MM Dassault luxury 12 Passenger corporate jet. This comes on the heels of news that the former CEO of Merrill Lynch (Bank of America) spent $1.2 million refitting his office early last year.On November 18th, 2008, Congressional lawmakers rebuked Detroit’s Big Three CEOs. The corporate jet became a symbol synonymous with corporate excess. Automakers noted this and responded by promising to dispose of their corporate jets.
Although a corporate jet may seem an unnecessary cost to some at first glance, its benefits have been realized for many years. Jet owners say private jets allow for more employee productivity via airport convenience and the virtual office concept. Of course, not having a corporate jet here at ExecutiveBiz, we’ll have to take them at their word. Click here to read more.
Washington Area Home prices down..sales up!
According to the Wall Street Journal and Standard & Poors, DC area homes have fallen 19.4% year-over-year. Recent housing sales took a noticeable incline in a sign indicating bargain hunters are out in numbers. Read more here.
Despite a financial bust that was precipitated by a real estate bubble, top economists are giving cautious signs that there is an end in sight. Knight Kiplinger recently headlined a lunch event at the Potomac Officers Club, and gave the DC executive crowd a heartening forecast. Click here to read more.