Dec. 8 (Bloomberg) -- Citigroup Inc.'s board may choose a replacement for former Chief Executive Officer Charles O. ``Chuck'' Prince at a meeting scheduled for next week, a person familiar with the matter said. http://bloomberg.com/apps/news?pid=20601087&sid=aFuZxO6r8ymo&refer=home
I don't normally pile on, but this one is stupid from any POV: intraday, swing, position, or super-long term value investor like Buffett. From the latter's POV, the div is extremely important. It's one of the ways he gets paid back. To understand the div in this one, you have to understand that over the last few years, it was upped by 10% every year. This is very important to someone investing for income. Now that there is no prospect of an increase in the foreseeable future, the stock had to drop to compensate for the loss of the likelihood of the usual increase happening. On top of that, you had the likelihood of it actually being cut. If it gets broken into pieces, the div will be in extreme danger, of course, and that means the stock will have to change ownership from an income-oriented base to a cap-gains oriented base. Consider that your first lesson in Stock Investing For the Long Term 101. Do not continue until you pick up and read and understand "Securities Analysis" by Graham and Dodd. Seriously.
Citigroup Names Pandit CEO to Clean Up Subprime Mess http://www.bloomberg.com/apps/news?pid=20601087&sid=a0E2M0ZGUtdI&refer=home Anyone know who this guy is? Is he CEO material? Notice that Bob R jumped out of there and but fast....
Mmm hmm... Couldn't get it past me though. Reminds me of that scene in "Mars Attacks" where the general is going forward to meet the martians for the first time. He calls his mom and says , " See Mom, I always told you if I just kept quiet and sucked it up, eventually I'd get somewhere...." Wonder if this guy knows what he is in for. Doubt it.
Eh, if he screws up royally, he gets 30 million. If he succeeds, maybe he gets 60 instead? I'd take it.