• Citigroup posted its first profit in 18 months today, which made Wall Street very happy and sent Citi shares up to a whopping $4. [WSJ, DB]
• GE's first-quarter profit fell less than expected, dropping 35% compared to a year earlier, results that gave shares a boost in early trading. [BN, WSJ]
• AIG chief Ed Liddy still owns a big stake in Goldman Sachs, info that will be most pleasing to Goldman conspiracy theorists out there. [NYT, NYT]
• Is the banking business showing signs of recovery? [NYT]
• Carl Icahn and Kirk Kerkorian are locked in battle over MGM Mirage. [WSJ]
• General Growth Properties's bankruptcy will make hedge funder Bill Ackman a very rich man. And he already happens to be a very rich man. [NYT]
• The president of the Federal Reserve Bank of San Francisco now says it was a mistake to allow Lehman Brothers to collapse. Now you tell us? [BN]

With the economy in a tailspin, there aren't quite as many "whales" heading out to Teterboro to catch complimentary flights to Las Vegas. Why bother losing all your money at the poker and blackjack tables when you can do the same thing in front of your Bloomberg terminal in your Midtown office? We're guessing this explains why MGM Mirage, the gambling giant that controls such properties as the Bellagio, Mirage, MGM, and Mandalay Bay hotels, put their incredibly luxe 2001 Boeing Business Jet on the market this week. The plane seats 17 and features a master suite, guest bedroom, conference room, and bathroom with shower. Alas, the company didn't specify how much they'd like for it, so you'll have to kick things off with an opening bid. They also didn't mention if they'd be willing to give the plane a scrub-down before it changes hands. Given the number of horndog billionaires and sleazy celebs who have probably deposited their DNA on the "luxurious, tan leather seats," it would be the least they could do, no? Photos of the interior after the jump.

♦ Things may be about to get worse at Citigroup: The Times reports that the bank may be forced to lay off another 25 percent of its workforce as it deals with continued losses, a plunging stock price, and a lack of investor confidence. [NYT]
♦ In a show of faith, Citi CEO Vikram Pandit and three deputies bought a total of 1.3 million shares yesterday after the stock fell below $9 for the first time in 12 years. [Bloomberg]
♦ Is the $700 billion bailout working? Not so much: More than a month and nearly $300 billion into it, "many of the nation's financial arteries seem nearly as sclerotic as they were before. Some of them, in fact, appear to be hardening more." [NYT]