Word: citibankers
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...cushion themselves against a rise in sour loans as the U.S. economy slumps, many banks are increasing their capital reserves. For example, Citibank said last week it has more than quadrupled its reserve for losses on commercial loans from $59 million a year ago to $283 million. Banks are also clamping down on new lending. But while these moves will strengthen the banks, tighter capital is beginning to put the squeeze even on healthy industries...
...Real estate is one of the most revealing features of the credit travails. It was the original taboo. Citibank existed from 1812 to 1960 without making real estate loans. There was this cultural resistance as well as regulatory and legal resistance to making real estate loans because when the depositors wanted their money it was not the time to rely on a piece of land...
...apply for the Universal this year, AT&T is tossing in a lifetime waiver of annual fees. Ironically, the cost of introducing the new card has eaten into company profits. And card-issuing rivals are in a snit over AT&T's venture onto their turf. Citibank has switched its long-distance service...
...link between self-governance and student performance is clear at some schools, unclear at others. Yet this spotty record is unlikely to mar school- based management's bright future. In May Citibank gave $2.4 million to help nine Washington, D.C., schools get their plans under way. Dade County has taken the notion a step further, asking principals and teachers to submit ideas for creating 49 new schools from the ground up. Seven are now in the planning-and-building stage. More innovations are sure to come. School districts may find that giving teachers and parents the right to make decisions...
...Although Citibank finally reopened my Visa credit line, it has not returned my wife's card. But it did mail me an R.S.V.P. certificate to apply for another Citibank-American Airlines frequent-flyer credit card. And this one offers a free round-trip companion plane ticket. Wonder if I should apply...