Word: pandits
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...three simultaneous hostage dramas began to unfold, onlookers gathered. "It's like watching 24 in slow motion," said Vineet Pandit, 22, who lives near the Oberoi. What they would see at each of these sites was a parade of hundreds of uniformed troops over the course of several hours: the Mumbai police, the Indian army and paramilitary groups including the Rapid Action Force and the National Security Guard's ?lite "Black Cat" commandos, distinctive in their all-black uniforms. It was not always clear who was in charge. On Thursday at the Taj, police officers waited idly in their jeeps...
...avoid the fate of Lehman or Bear, the firm's board may feel like it needs to do something to boost it's stock price. One option would be to boot chief executive Vikram Pandit. Some on Wall Street believe Pandit has not been quick enough to react to the problems of the firm and could still be in denial. On Friday, Pandit told top executives that he doesn't believe Citi needs to sell off parts of its business to raise capital. Investors don't seem to agree. The stock fell on the news...
...could replace Pandit? Robert Rubin, the former Treasury Secretary and head of Goldman Sachs, could be one choice. He is currently a director and senior council at the firm. But Rubin has been at Citigroup for a number of years, and it's not clear he has been helpful so far in stopping the losses. What's more, with a Democrat headed back to the White House his eye may be on Pennsylvania Ave. and not Park Ave., where Citi's executive offices are located...
That is exactly the sort of top-down control financial firms now say they want. Citigroup CEO Vikram Pandit vows to be a "hands-on participant" in risk management. In August, UBS chairman Peter Kurer broke the firm into three separate units partly because the old structure, he said, encouraged "the blurring of the true risk-reward profile of individual businesses." In July, the Institute of International Finance, which counts large banks and insurance companies among its members, put out a 174-page report detailing best practices in the wake of the financial crisis. Among them: developing a corporate culture...
...weekend in November. Friday, Oct. 24 at 8:00 p.m. New College Theatre, $8 4) Classical How many times have you heard a legendary Indian Classical singer with a range of three and a half octaves? That’s what we thought. Go hear a live concert by Pandit Jasraj and escape to India for the night. Friday, Oct. 24. 8:00 p.m. Kresge Auditorium, MIT, $20 5) A Spooky Menagerie We’re sure pets, like college students, don’t want to miss out on being stuffed into costumes this Halloween. Thank goodness there?...