“If they stop marketing, all the other companies that are competing against them will zoom right past them and they’ll never have a chance to catch up again,” Wilpon said Tuesday
So let me get this right. People choose their bank not based upon location or interest rates but because of a stadium name. If the stadium becomes New Shea then suddenly people will stop using Citibank. That would be the reason. It would have nothing to do with (irrational) fear of losing their money or that a new bank opened that has better hours – it’s because of a stadium name. Yeah OK.
“They’re a going business – a going concern. We’re a going business and a going concern. And we have to help each other.”
I agree. Therefore you should decline to accept the $20M right now (taxpayer money remind you) and take it on the back end when and if they are still a going concern.
Also in the Daily News:
Eric Eve, Citigroup’s senior VP for global community relations, played up civic aspects of the arrangement, including bringing area children to ballgames. The company receives a suite among other perks. The 49 suites at Citi Field have price tags ranging from $250,000 to $500,000.
Ok Mr. Eve, I look forward to keeping track of how many “area children” are brought to games. You’re on.
