Citigroup to `Wind Down' About $400 Billion of Assets
Started by stevejhx
about 18 years ago
Posts: 12656
Member since: Feb 2008
Discussion about
May 9 (Bloomberg) -- Citigroup Inc. Chief Executive Officer Vikram Pandit plans to "wind down" about $400 billion of assets over the next three years as part of his plan to return the biggest U.S. bank to profitability. "There will be more" divestitures, Pandit, who succeeded Charles O. "Chuck" Prince in December, told shareholders at a meeting today at the bank's New York headquarters. "But of... [more]
May 9 (Bloomberg) -- Citigroup Inc. Chief Executive Officer Vikram Pandit plans to "wind down" about $400 billion of assets over the next three years as part of his plan to return the biggest U.S. bank to profitability.
"There will be more" divestitures, Pandit, who succeeded Charles O. "Chuck" Prince in December, told shareholders at a meeting today at the bank's New York headquarters. "But of course this will not have any effect on the Manhattan real estate market. We will specifically design the divestitures to ensure that not one single person in New York County loses any of their prized equity."
When asked by a shareholder how he was going to do this, Pandit said, "Not a clue."
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWst.LBIN368&refer=home[less]
Response by dco
about 18 years ago
Posts: 1319
Member since: Mar 2008
stevejhk- That was funny. What do you about real estate. Is their something wrong? hahaha.
Ignored comment.
Unhide
Response by ccdevi
about 18 years ago
Posts: 861
Member since: Apr 2007
wow dco, did you really think that was funny, or even the least bit clever? steve i would advise you not to stop short, your moonies could end up in an uncomfortable place.
Ignored comment.
Unhide
Response by dco
about 18 years ago
Posts: 1319
Member since: Mar 2008
ccdevi- Do you feel like you are fighting an up hill battle. The longer you and the "others" continue to ignore the evidence the more foolish you look.
stevejhk- That was funny. What do you about real estate. Is their something wrong? hahaha.
wow dco, did you really think that was funny, or even the least bit clever? steve i would advise you not to stop short, your moonies could end up in an uncomfortable place.
ccdevi- Do you feel like you are fighting an up hill battle. The longer you and the "others" continue to ignore the evidence the more foolish you look.