Citigroup Survives Management Failure
The New York Times is reporting that the government has approved a plan to “stabilize” Citigroup. MarketWatch also has some details. The plan includes a $20 billion cash injection via preferred stock with an 8% dividend. The government also gets to approve executive compensation, but I repeat, how do these folks deserve anything other than [...]
Dodd Watch: Helping the Auto Industry
Chris Dodd has parachuted in and is working to come up with a rescue plan for the auto industry. I suspect he’s car shopping.
Citigroup: Another Management Failure We’ll Rescue
Citigroup has been in the new recently, since they announced that they’ll eliminate another 52,000 jobs, on top of a previously announced 22,000. Citigroup had a peak employment of 375,000 in 2007 so 1 out of 5 Citigroup emloyees have been affected. According to news reports about 1/2 the reductions will come from business sales. [...]
Dodd Watch – Finally a Hostile Interview
There’s a lot of drama around the interview that never aired on a Clear Channel radio station. The reason it never aired is a mystery and may have more to do with radio station politics than Senatorial politics. The interview is typical political evasion. Senator Dodd clearly says he received market rates but avoids any [...]
Circuit City Implosion
The recent news about the Circuit City bankruptcy tends to blame it on the economy and competition from the internet. Sorry folks, seems to me this was clearly due to wounds inflicted by it’s own poor management. The only good news is that there doesn’t appear to be any taxpayer bailout money involved. I used [...]
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