Apparently, they never learn: Bloomberg reports that Citigroup is planning to build a $10 million executive suite with new offices for its CEO Vikram Pandit and his lieutenants. Papers show Citigroup plans to pay $3.2 for basic construction—tearing down walls and such—and a source familiar with the project says final costs will be three times that much, once they add in architect’s fees and furniture. In a statement, Citigroup said “Senior executives in our corporate headquarters are moving from two floors to smaller, simpler offices on a single floor … Based on estimates made when the project was initiated, we expect to generate savings in the next few years well in excess of the project costs.”
yeah right. learn to slum it like the rest of us!