"I've got a boat payment coming due," Torino told The Journal this morning. "And these damned government guys won't let me collect my bonuses until after this crap is paid back. Anybody who thinks I'm going to let this boat go is full of horsesh*t. I've got nearly $15 million sunk into her already."
When asked if BdP actually had the cash to both pay back the bailout money and buy back the BdP shares currently owned by the Treasury, Torino first kept silent and waved a hand at reporters.He stepped back to the microphone after consulting with members of his staff.
"Hell no, we don't have it. Don't you idiots in the media know that the economy is in the toilet? We're going to do what everybody else does. We're going to borrow most of it, about $51 billion, and make up the rest in other ways."
Torino hedged at a number of "What other ways?" questions from reporters, then left the podium.
After a few minutes pandemonium from the assembled audience, a BdP senior executive, who asked not to be named in this article, fielded questions.
"We've got over 325,000 employees, which Mr. Torino believes are WAY-Y-Y more than we need, so we're going to cut enough of them to raise the balance."
"How many?" a reporter from the Boulder-Springs Journal asked.
"Let me see. Ummmm... six take away... hmmmm... carry the 5... Oh, I'd say about 75,000. Thank you. That's all the time I have."
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