Word: citigroups
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...dramatic engine of Tearing Down the Walls, Monica Langley's biography of Citigroup CEO Sandy Weill, is his lifelong struggle for acceptance among Wall Street's elite. What a burden, we are repeatedly reminded, was Weill's background as a rumply Jewish kid from Brooklyn, N.Y.--he's even the wrong kind of Jew!--as he fought to overcome anti-Semitism and class prejudice to make it to the top, not once but twice. It's a nice story line but a somewhat artificial...
...Citigroup Chair Sanford Weill and U.S. Olympic Committee CEO Lloyd Ward have said they would work within Augusta National to encourage the club to change its policy on women...
LOVELACE: Let me give you an example--two banks, Citigroup and Bank of America. They both sell at about 12 times earnings. Bank of America pays out 40% of its income, close to a 4% yield. Citi pays out 20% of its income, about a 2% yield. If the tax law changes, perhaps Citi increases its payout to 40%, equal to Bank of America's. Do you expect Citi's price-earnings multiple to double? No. It will still sell on the basis of earnings. Over time, Citi shareholders will benefit from the extra income, but it is not going...
...climbs depends on how well she meets her latest challenge: closing the credibility gap at financial-services giant Citigroup, after government inquiries put a cloud over the firm's reputation--and its stock. Krawcheck was hired in October from the independent stock-research firm Sanford C. Bernstein (where she was CEO) to be Citi's designated savior. Citigroup's proud CEO, Sanford Weill, personally wooed her, reorganizing a large chunk of Citi around her. Krawcheck is now CEO of a reconstituted Smith Barney, which encompasses Citi's stock-research and retail-brokerage operations...
Grubman, who was paid $20 million a year at his peak, said in an e-mail to a friend that he upgraded his opinion of AT&T so that his ultimate boss, Citigroup's then co-CEO Weill, would help him "get my kids in 92nd St. Y preschool (which is harder than Harvard)." Unlike the Y associations in most cities, this one, located on Manhattan's wealthy Upper East Side, charges as much as $14,400 a year for kids ages 2 1/2 to 5, some of whom get picked up after class by chauffeurs. The school has just...