Is this a joke? NEW YORK, May 18, 2011 (BUSINESS WIRE) -- Citigroup Chairman Richard D. Parsons today made the following statement about the retention award for Chief Executive Officer Vikram S. Pandit: "Vikram has done an outstanding job since coming on board as the financial crisis began. Under his leadership, the management team has navigated Citi through the crisis, returned Citi to profitability and is executing a strategy for sustainable growth. The long-term, multi-year, performance-based structure of this award is designed to retain Vikram as our CEO and reward him for future performance benefitting the company and our shareholders." http://www.marketwatch.com/story/st...ntion-award-to-ceo-vikram-s-pandit-2011-05-18
No it's not a joke. He deserves that for taking all that low-interest Fed money that Uncle Ben gives him and the other Too Big To Fail banks. You think it's easy taking all that money? The man is doing it for the good of the country, saving the economy from the Big Banks' screw-ups. A patriot for shouldering the burden of that moolah if ever there was one... It's a good thing that Citi gave him lots of perks to tide him over during that rough $1 salary period when he was living in a tent... But now after roughing it, his ship is coming in.....
Oh it makes my blood boil. I guess if there is one sure way to get rich it's to work your ass off and get a high ranking position at a major bank.
I read Vikram's bio. Apparently he was a top student at Harvard Business School because he finished all his case studies really quickly. It was a very touching story. I wonder how much of it is exaggerated.
He spends a lot of his money building temples and homes on his ancestral land in India. It is well known he plans to retire back in his native India.
I wonder if the board has a problem understanding reverse split. How can you say the guy did an outstanding job when C can't even trade above $5 on its own without the reverse split?
$10MM, lol. Citi paid $800MM to buy Vik's Mold Lane hedge fund, which they closed less than one year after buying it. That alone should result in the decapitation of all Citi board-level execs.