Market Currents

Citigroup's (C) $4.7B writedown of its Morgan Stanley Smith Barney stake probably won’t...

Monday, September 17, 2012, 6:05 PM ET
Citigroup's (C) $4.7B writedown of its Morgan Stanley Smith Barney stake probably won’t reduce CEO Vikram Pandit's profit-sharing plan award, a sum that could total nearly $24M. Why? Because the plan doesn’t count losses at Citi Holdings, the dead-letter division that holds the company's toxic assets including the Smith Barney brokerage. Excluding the toxic assets, Pandit's plan - which was actually rejected by top shareholders when put to a vote - will record a pretax profit for 2011 and 2012, when the bank's shares actually tumbled.

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This news story has 2 comments:

bill d Comments (1696)

Jesse James without a gun.
A POS in charge. Screwing shareholders is his prime directive.

17 Sep 2012, 06:17 PM Reply Like

Former Citi Employee Comments (4)

Its all rigged. Since the days of Sandy, Citi has been treated as a cash cow for management and a pig for investors and stock holders. As an employee I was forced to take some of my salary as stock. Unfortunately my salary was never in the clouds like theirs. Time for shareholders to take the company back and rid ourselves of the Directors that continue to give away the store to senior management, even when they deserve nothing.

17 Sep 2012, 06:24 PM Reply Like

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