Word: exitement
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...Nonetheless, the deal will be costly for Citi. In order to exit TARP, the bank will have to sell $20.5 billion in new shares. Analysts estimate the stock sale will lower the company's earnings per share by about 20%. "One of the basic problems for [Citigroup's] valuation is that it has too many shares as a result of its many rounds of capital raising and exchange offers," says analyst David Hensler, who follows Citi for research firm Creditsights...
...Finally, the deal Citi struck with the government may indicate to investors that the bank is actually in worse shape than many thought. To exit TARP, Bank of America was required to raise $18.5 billion in new capital, or about 40% of the $45 billion in capital it repaid the government. Other banks have had to raise as much as half of the amount they want to pay back the government in new capital. Citigroup, though, is required to raise more than 100% of what it wants to pay back - $20.5 billion in new capital, half a billion dollars more...
It’s not uncommon for freshmen to exit Annenberg feeling like they’ve left a time warp (where did the last two hours just go? Ah, lost to that stained-glass refectory forever). But at yesterday evening's Study Break with University President Drew G. Faust (sorry Drew, Larry was a better dancer: see left, with the original caption) and Dean Thomas A. Dingman ’67, students entered a parallel universe of chocolate crepes, hot apple cider, and….a dance floor waiting to be thronged with freshmen letting...
...when U.N. officials first distributed sachets of sugar and salt to refugees in South Asia in an attempt to reduce cholera deaths. Today, rehydration salts mixed with clean water are given to millions of poor people across Africa and Asia. It works: the glucose in the water slows the exit of fluids from the body, allowing electrolytes to be absorbed through the intestinal walls and thus halting potentially deadly dehydration...
...Afghan Security Forces Can Be Trained to Take Over the Mission The centerpiece of Obama's exit strategy is the training of Afghan security forces to take responsibility for fighting the Taliban, just as Iraqi forces have taken charge of security in Iraq. But Afghanistan is nothing like Iraq, and training may not be the decisive issue: although the U.S. has officially trained 94,000 Afghan soldiers, there's no sign of an effective Afghan security force capable of fighting the Taliban. Desertion rates are high - 1 in 4 soldiers trained last year, by some accounts...