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Citigroup may soon get all the sleep it needs. Investors are growing increasingly concerned that the global financial behemoth could go the way of Bear Stearns, Lehman Brothers and Merrill Lynch. Shares of the company, which was once the world's largest bank, closed at $3.77 on Friday. The company's board members reportedly met on Friday and will continue to talk over the weekend to discuss the firm's options. There are a number of possible outcomes, not all of which conclude with the end of Citi. "Somehow they need to get the price of their stock up," says...
...months, Citigroup has been dogged by concerns about the quality of the loans on its books. Citi was, after all, one of the nation's largest sub-prime lenders, not just to homebuyers but through its credit card division as well. This week, the fears have centered on the quality of its corporate loans, and to a lesser extent its credit card business...
...Another possible suitor could be US Bancorp. The Minneapolis bank is one of the nation's largest, but it has little presence on the East Coast, where Citi is big player. U.S. Bancorp has a market cap of $40 billion, about double the size of Citigroup. What's more, U.S. Bancorp chief financial officer Andrew Cecere recently told the Wall Street Journal said that the firm was interested in making a large acquisition...
...them] I literally thought it was a prank call,” he said. But at a meeting, a Wal-Mart representative said the company was committed to eliminating waste in its operations. For several years, Werbach has worked with the company, which is the nation’s largest employer, to develop “personal sustainability projects” for its staff. At first these included simple steps like recycling, but eventually the program came to encompass losing weight and quitting smoking, among other initiatives. At first Werbach tried to stop this evolution, but eventually one manager convinced...
...thought it was time we took Harvard students down a notch. People at Harvard are so stuck up about having the top rank in the U.S. News and World Report rankings, and being the oldest university in the United States, and having the largest academic library in the world, and enjoying the most comprehensive financial aid program in the country, and having the wealthiest endowment of any school in history. WHO CARES? Our school provides a kind of education that Harvard’s $37 billion can?...