Posted By: Xian Ngyuen
Bank of Utah jet spotted in Tehran - 04/19/14 12:49 PM
"Oh, The Places You'll Go!"
A Bombardier corporate jet (N604EP) is photographed at Mehrabad Airport in Tehran. Its registered owner is Bank of Utah, a community bank with 13 branches, and about $800 million in assets. The jet is one of about 1200 for which the bank is the registered owner.
In this case, the plane was leased by by a Ghanaian mining company owned by a brother of Ghana’s president.
Ken, John and other BOL gurus have mentioned this before, but there is significant risk when banks take on businesses whose risks they are unsuited to manage. Here is a case in point.
A Bombardier corporate jet (N604EP) is photographed at Mehrabad Airport in Tehran. Its registered owner is Bank of Utah, a community bank with 13 branches, and about $800 million in assets. The jet is one of about 1200 for which the bank is the registered owner.
In this case, the plane was leased by by a Ghanaian mining company owned by a brother of Ghana’s president.
Ken, John and other BOL gurus have mentioned this before, but there is significant risk when banks take on businesses whose risks they are unsuited to manage. Here is a case in point.