Citigroup to Spend $10 Million on Executive Suite Renovations
- Posted by: Morgan Clendaniel
- on March 19, 2009 at 1:06 pm
The renovations include: “one Sub-Zero Inc. refrigerator and icemaker in the renovated space, along with “premium grade” millwork and Madico Inc. “Safety Shield 800” blast-proof window film. The project encompasses 17 private offices, each with space for administrative assistants, as well as two conference rooms and open areas with “soft seating,” according to the plans.”
Are you kidding me? Keep in mind, that this project was approved post-bailout. Who are these people? Wouldn’t you like to just talk to them for five minutes and ask them what, in God’s name, they could be thinking? See also: Citigroup CEO Vikram Pandit, who testified before Congress that he was taking a salary of only (only!) $1 million, only to find Reuters reporting that he is taking home $11 million. What is wrong with people? If they are worried about people getting hurt, as AIG’s CEO claimed in Congressional testimony yesterday (as reason for not releasing the names of the employees who took home bonuses despite destroying the economy), then maybe they should stop making really stupid decisions that would make people angry enough to want to hurt them.
Via TPM
DISCUSSION: 4 Comments
When I first read this I was speechless. You already know how they are going to justify this. Something along the lines of “We must upgrade our offices to retain the talent we have, because no executive CAN work in an office without a name brand fridge and fine mill work. Also it creates construction jobs!” Honestly if it wasn’t for The Smith Act I would……..
I like this line, “Citigroup said the
project will help it save money over time.” Maybe instead of using the 10 million to cushy up their offices they could use it to reduce the projected 52K jobs they’re planning on cutting. Seriously, these people live in some weird world where this makes sense.
this is excactly what i was thinking! all of this makes me very sad and disappointed to be a citibank customer…. any recommendations on “ethical” banks?
I cancelled my CitiBank card today.