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View Diary: Obama Admin to Citigroup: "No Plane for You!"(UPDATED X3) (347 comments)

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  •  And wouldn't they have already paid most of it? (0+ / 0-)

    We sell bicycles, and anytime someone wants a custom built one we either get payment in advance or a substantial down payment with no returns allowed unless it is defective.  I can't imagine the same policies don't exist for these fancy planes.

    •  Someone explained earlier in the thread that (1+ / 0-)
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      Lujane

      plane orders work pretty much the same way, except there are other buyers who will purchase Citi's "option" on the plane and take delivery of it instead.  Something about a 3 year waiting list on private planes otherwise.  Also added that in this economy though there may not be a whole lot of takers on that "option" and Citi may have to wait a long while before they are able to get the money back if at all.

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