Is JP Morgan Buying A Private Jet Hangar?

Not if you believe Reuters, but where there is smoke there is usually fire. According to an earlier report by ABC News, the house of Dimon was fully intent on shaming Vik's Cititanic and his meager attempt to buy one lowly Dassault Falcon, by purchasing not only two Gulfstream 650 jets but also a hangar in which to house these new acquisitions at Westchester airport! The total cost: $138 million. JPM spokesman Joseph Evangelisti firmly denied that this was going to happen... at least until JP Morgan repaid all TARP funding. At that point, JPM will fully exploit its brand new garage space and load up on those 2 for 1 specials that Textron and all other desperate jet makers are clinging to these days.

Good to know whatever bankers remain at JPM will not only not have to take the tunnel to Tetterboro, but have two brand spanking new jets waiting to cart them off to the zero remaining corporate clients they have left.