Word: repays
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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...
...governments in the U.S., Canada and Europe that supported the company during the crisis last winter. The $17 billion debt does not include $3.2 billion in notes or preferred stock that GM also owes to employees' health care trusts, or VEBAs, in the U.S. and Canada. GM expects to repay the notes to U.S. and Canadian VEBAs with money from the eventual sale of new stock - an IPO that will be successful only if GM returns to sustainable profitability...
...reportedly reprimanded for trying to convert patients to Islam, while castigating those with drug and alcohol issues for their "unholy" behavior. As the wars in Iraq and Afghanistan unfolded, he asserted the right of Muslim Americans to conscientiously object to fighting; his relatives claimed he offered to repay the cost of his medical education in exchange for release from his obligations...
...says Renee Porter-Medley, a financial planner at Key Private Bank in Fort Myers, Fla. State colleges and small weddings are fine; you are under no obligation to help with a down payment. If the kids need money, let them get loans. They have decades to repay them; you can always help out later...
...there are no signs that the big Citi sale will end anytime soon. The bank still owes the government $45 billion from this past year's financial-rescue effort, and Citi executives said the bank would like to repay the government soon. Last June, in an unusual move, Citi hired investment banker James von Moltke for the sole job of heading the bank's corporate-disposal effort...