{"id":743,"date":"2009-11-02T15:08:00","date_gmt":"2009-11-02T20:08:00","guid":{"rendered":"https:\/\/www.realty.com\/blog\/uncategorized\/citi-escape"},"modified":"2009-11-02T15:08:00","modified_gmt":"2009-11-02T20:08:00","slug":"citi-escape","status":"publish","type":"post","link":"https:\/\/www.realty.com\/blog\/housing-news\/citi-escape\/","title":{"rendered":"Citi-escape"},"content":{"rendered":"<p><em>What&#8217;s next for the bank?<\/em><\/p>\n<p><img decoding=\"async\" width=\"200\" class=\"alignleft\" src=\"https:\/\/cdn.realty.com\/blog\/uploads\/legacy\/citigroup.jpg\" alt=\"\" \/><\/p>\n<p><strong>Hot Headline:<\/strong> Citigroup can&#8217;t maintain its two-quarter gaining streak.<br \/>\n<strong>Hotter Headline:<\/strong> Vikram Pandit is immediately restructuring the bank.<\/p>\n<p>Citigroup&#8217;s third quarter results are a disappointing report from the bank that still struggles to recover from the crisis and pay off its dues to the federal government. <a href=\"http:\/\/www.nytimes.com\/2009\/10\/16\/business\/16citi.html?_r=1&amp;ref=business\">The New York Times<\/a> writes,<em> &#8220;The bank&#8217;s headline number \u2014 net income of $101 million \u2014 came before it accounted for $288 million in preferred dividends and a debt exchange that gives Washington 34 percent of earnings.<br \/>\nAfter including the items, the loss to stockholders was 27 cents a share, or $3.2 billion, compared with a loss of 61 cents a share, or $2.9 billion, in the third quarter a year ago. Revenue increased to $20.39 billion from $16.25 billion.&#8221;<br \/>\n<\/em><br \/>\nCitigroup also sold Occidental Petroleum <em>&#8220;to avoid a public showdown with the federal compensation specialist over a nine-figure bonus.&#8221;<\/em><\/p>\n<p>After reading this, we can only say the following things:<\/p>\n<p>1. Mr. Pandit should be preparing a more sober speech for investors.<br \/>\n2. The bank should head into a management review and restructuring ASAP.<br \/>\n3. There would still be issues regarding over compensation in the bank since only its oil arm was dismissed and not the top honchos in the bank itself.<br \/>\n4. We highly doubt that the last quarter will show signs of recovery.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What&#8217;s next for the bank? Hot Headline: Citigroup can&#8217;t maintain its two-quarter gaining streak. Hotter Headline: Vikram Pandit is immediately restructuring the bank. Citigroup&#8217;s third quarter results are a disappointing report from the bank that still struggles to recover from the crisis and pay off its dues to the federal government. The New York Times &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-743","post","type-post","status-publish","format-standard","hentry","category-housing-news"],"_links":{"self":[{"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/posts\/743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/comments?post=743"}],"version-history":[{"count":0,"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/posts\/743\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/media?parent=743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/categories?post=743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.realty.com\/blog\/wp-json\/wp\/v2\/tags?post=743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}