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...Monday, Citigroup said it had worked out a deal to repay $20 billion in government bailout money and terminate a loss-sharing agreement the bank had with the government for Citi's riskiest assets. Citi CEO Vickram Pandit said the moves were signs that his company was returning to financial health. The deal would also remove much of the government's pay restrictions on the bank. "These actions move us closer to ending a very difficult period for our company," wrote Pandit in an internal memo to Citi employees. (See 25 people to blame for the financial crisis...
...analysts say Citi's rush to repay the assistance it got through the government's Troubled Asset Relief Program (TARP) will make the bank weaker, not stronger. The move will reduce Citi's capital ratios and hurt earnings; it may also accelerate a retreat of foreign investors from the company's shares. Worse, the government is demanding stricter terms from Citi than it did from Bank of America on the repayment deal it struck just a week ago. The different treatment shows that the government remains more concerned about Citi's finances than those of its rivals...
Perhaps Citi should have slept on Dubai. A year and a half ago, Citigroup became the first U.S. bank to relocate one of its rising stars, Alberto Verme, an investment banking executive, to the booming gulf state. At the time, Citi CEO Vikram Pandit said the move was a sign that the bank was "convinced of the region's long-term and immense growth opportunities...
Allred intends to move tax breaks away from special interests like heavy trucking—which Otter has supported—and towards small businesses in order to better stimulate job creation and overall economic growth...
...still dedicated to keeping the process that lies ahead peaceful for our family," she said in a statement. The split doesn't come as a surprise: the former Lazard bigwig conspicuously declined to stand by her husband while he disclosed his dalliance, rebuked him several times during interviews and moved out of the governor's residence along with the couple's four children. It's a safe bet that plenty more publicity will attend her next move. Sanford, who drew plaudits for her handling of the scandal and whose memoir is slated for publication next spring, was named this month...