JPMORGAN buys 2 jets

[Potemkin]

http://www.nypost.com/seven/03232009/news/regionalnews/jpmorgan_oks_119m_for_jet_set_160883.htm

JPMORGAN OKS $119M FOR JET SET

Execs at "bailed-out" JPMorgan Chase are banking on smooth flying ahead.

The banking behemoth, which took $25 billion in tax funds last fall, has two new Gulfstream 650 jets on order, The Post has learned.

Currently, the company has four Gulfstream jets at its private facility at Westchester Airport. It also owns shares in two other private jets.

It has begun making payments on the two new, state-of-the-art Gulfstreams, which sell for $59.5 million each and can almost break the sound barrier, spokesman Joe Evangelisti said.

"We are not going to add any planes. Any purchases in the decade ahead will take the place of an existing plane," Evangelisti said.

"JPMorgan will not spend one penny for a new plane or renovation of the hangar until we've repaid the TARP money," he added, apparently limiting his definition of "new plane" to additional aircraft.

The bank is healthier than its rivals, but its stock is still down by half compared to last year.

Delivery of the jets is expected in 2012, at the earliest.

[leistb]

Ahhh... more fuel for distraction of the real theft that is occurring under our noses.

[Glockd]

Makes it easier for thieves to haul ass if they got hi-tech go-fast goodies. Betcha the range on those jets is enough to plop down on a nice non-extradition runway.

[penguinzee]

From that questionable font of information, Wikipedia...

http://en.wikipedia.org/wiki/Gulfstream_G650

"The Gulfstream G650 is a twin-engine business jet aircraft under development by Gulfstream Aerospace.[1] It was formally launched as an internal company project in May 2005, and publicly unveiled on March 13, 2008. At the public announcement occasion, company executives stated the new airplane would become Gulfstream's largest, fastest and most expensive business jet when it enters the market.[2]
Contents
[hide]

* 1 Design and development
* 2 Specifications (G650)
* 3 See also
* 4 References
* 5 External links

[edit] Design and development

The G650 will fly at cruise speeds of Mach 0.85 to 0.90, with maximum speed of Mach 0.925 and will have a range of up to 7,000 nmi (13,000 km). It will be equipped with a full kitchen and bar and may be equipped with a variety of entertainment features including satellite phones and wireless Internet. The new jet will use the new Rolls-Royce BR725 engine producing a maximum thrust of 17,000 pounds-force (75.6 kN).[3] Gulfstream states that with a weight of less than 100,000 pounds (45,360 kg), it will be able to land at small airports avoiding the busy airports around the world."

Hmm, maybe some contingency planning on their part, Glock? :D

Franc (penguinzee)

[Curious]

Gosh ...

Sounds like the best plane taxpayer money can buy!!

Why go second class when we are a first class country ... right?

[neilyoungfan]

Yeah, and they just told their employees (those that are left in the US, anyway...:mad:) that they are stopping their 401K monthly match at the end of April! It might be done yearly, which is contingent on your employment status on 12/31 of the year in question (you have to be working there at the end of the year to get the match). And the match will only be a possibility based on the company's performance, so you may not get it at all.

[BirdGuano]

Hmm, maybe some contingency planning on their part, Glock? :D


It will make this runway no problem where a lot of them have "ranches".
Airport IATA Code : BZN
Airport ICAO Code : KBZN
Airport Name : Gallatin Field
Type : Airports
Runway Length : 9002 ft.
Runway Elevation : 4458 ft.
City : Bozeman
Country : United States, Montana

And has the range to make this one, where there is no extradition treaty :D
Airport Code : MVD
Airport Name : Carrasco International
Runway Length : 10499 ft.
Runway Elevation : 105 ft.
City : Montevideo
Country : Uruguay
Country Abbrev. : UY