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 Post subject: Citigroup and Mets Ballpark
PostPosted: 26 Nov 2008, 13:18 
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On the brink of collapse, Citigroup this week announced one of the largest layoffs in history, with plans to eliminate 52,000 jobs. Citi also took a $20 billion bailout from the U.S. government, and taxpayers will be forced to guarantee $306 billion in risky assets.

Despite all of this, Citi plans to go forward with spending $400 million over the next 20 years to purchase the naming rights to the New York Mets' new ballpark, Citi Field, which opens in April 2009. “We remain committed to our relationship to the Mets; it is important to us,” Steve Silverman, a spokesman for Citi, told the New York Times.

As the major shareholders of Citi, we the taxpayers now have the right to say where our money is best spent. Vote YES to make a statement that we want Citi to pull out of its naming-rights deal and practice fiscal responsibility.


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 Post subject: Re: Citigroup and Mets Ballpark
PostPosted: 26 Nov 2008, 16:37 
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Banks are going to advertise no matter what hits they have to take and who they have to lay off. And with the current prices of commercials, around 1-1.5 million per 30 seconds for prime time, the break down of the cost for Citi Field is around 20 commercials worth per year. So assuming a company buys one commercial per day, Citi is only spending about 5% of their annual advertising costs on Citi Field.

Not to mention there is almost no way that any kind of financial fuck up can last 20 years.

It would be stupid for Citi to pull out on the Mets. Let them stay in.

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