BamBam's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/27310/comments http://seekingalpha.com/article/121694-eight-reasons-bank-of-america-is-going-to-20?source=feed#comment-398581 398581
It's not enough to say that nationalization is off the table. If you're looking at the common stock, you've got to make a case or present a scenario in which existing shareholders are not terribly diluted.

Unfortunately, despite the author's optimism, he make no such case. There is absolutely no rigor to this argument.]]> Sun, 22 Feb 2009 11:27:16 -0500
It's not enough to say that nationalization is off the table. If you're looking at the common stock, you've got to make a case or present a scenario in which existing shareholders are not terribly diluted.

Unfortunately, despite the author's optimism, he make no such case. There is absolutely no rigor to this argument.]]> http://seekingalpha.com/article/107436-citi-s-management-looks-overmatched?source=feed#comment-313034 313034
But, now is NOT the time for Pandit to sell off core assets at firesale prices. I want Citi to ride this out, preferably with an endorsement from the Gov't, while keeping all options open when times get better.

I suspect that some of the stories about Citi selling itself or dumping core assets are planted by competitors like Goldman Sachs, which is desperately trying to get its grubby hands on Citi's deposits.]]> Sun, 23 Nov 2008 14:35:53 -0500
But, now is NOT the time for Pandit to sell off core assets at firesale prices. I want Citi to ride this out, preferably with an endorsement from the Gov't, while keeping all options open when times get better.

I suspect that some of the stories about Citi selling itself or dumping core assets are planted by competitors like Goldman Sachs, which is desperately trying to get its grubby hands on Citi's deposits.]]> http://seekingalpha.com/article/107396-sachs-and-the-citi?source=feed#comment-312859 312859 Sun, 23 Nov 2008 10:30:18 -0500 http://seekingalpha.com/article/102318-vikram-pandit-rejects-citisachs?source=feed#comment-292342 292342
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]]> http://seekingalpha.com/article/90748-citi-s-pandit-still-going-in-circles?source=feed#comment-229419 229419 Wed, 13 Aug 2008 11:08:12 -0400 http://seekingalpha.com/article/67676-citigroup-s-management-many-questions-few-answers?source=feed#comment-124273 124273
If he's decided to keep this conglomerate together, he needs to explain in detail to his shareholders why that plan maximizes shareholder value...particularly in light of a decade of terrible returns to shareholders and Citi's persistent inability to demonstrate the viability of the Financial Supermarket model. After a decade of operations, the only areas in which Citigroup has achieved scale are scandals and risk mismangement.

Furthermore, Pandit should already have gotten rid of the senior managers whose incompetence and cowardly behavior ran Citi into the ditch. I'd start with Sallie Krawcheck.

Finally, every member of the board needs to state that he/she will not stand for re-election. This derelict board totally failed shareholders. In particular, Rubin should resign in disgrace for his total lack of attention to the job at hand. ]]> Sun, 09 Mar 2008 13:22:58 -0400
If he's decided to keep this conglomerate together, he needs to explain in detail to his shareholders why that plan maximizes shareholder value...particularly in light of a decade of terrible returns to shareholders and Citi's persistent inability to demonstrate the viability of the Financial Supermarket model. After a decade of operations, the only areas in which Citigroup has achieved scale are scandals and risk mismangement.

Furthermore, Pandit should already have gotten rid of the senior managers whose incompetence and cowardly behavior ran Citi into the ditch. I'd start with Sallie Krawcheck.

Finally, every member of the board needs to state that he/she will not stand for re-election. This derelict board totally failed shareholders. In particular, Rubin should resign in disgrace for his total lack of attention to the job at hand. ]]> http://seekingalpha.com/article/64909-citigroup-break-up-analysis?source=feed#comment-116739 116739
If Citi is to breakup, shareholders need to demand further changes at the top, including Rubin and this entire derelict board of directors.

It's time that the majority owners of Citi, who own 95% of the shares, take control of the company from the 5% who have been calling the shots through their agents on the board.]]> Sun, 17 Feb 2008 11:04:00 -0500
If Citi is to breakup, shareholders need to demand further changes at the top, including Rubin and this entire derelict board of directors.

It's time that the majority owners of Citi, who own 95% of the shares, take control of the company from the 5% who have been calling the shots through their agents on the board.]]> http://seekingalpha.com/article/57214-vikram-pandit-achieves-rockstar-status?source=feed#comment-105173 105173 I don't question Pandit's intelligence. But I do wonder whether he's able and willing to fight for drastic change. Does he have the guts to publicly admit that the Financial Supermarket model has failed?]]> Thu, 13 Dec 2007 09:28:48 -0500 I don't question Pandit's intelligence. But I do wonder whether he's able and willing to fight for drastic change. Does he have the guts to publicly admit that the Financial Supermarket model has failed?]]> http://seekingalpha.com/article/57178-still-underwhelmed-by-pandit?source=feed#comment-105154 105154 But, with Rubin and Bischoff hanging around, I think the fix is in. I'm not sure Pandit will be allowed to consider a breakup, even if it's by far the best option for shareholders.]]> Thu, 13 Dec 2007 08:12:45 -0500 But, with Rubin and Bischoff hanging around, I think the fix is in. I'm not sure Pandit will be allowed to consider a breakup, even if it's by far the best option for shareholders.]]> http://seekingalpha.com/article/56315-tom-browns-school-days?source=feed#comment-104135 104135
His point, I believe, was that Citi's leadership and balance sheet problems would likely preclude it from making any large acquisitions, even if the regulators did permit it.

The subsequent financing arrangement to patch up those balance sheet problems in no way contradicts that assertion.]]> Wed, 05 Dec 2007 09:36:30 -0500
His point, I believe, was that Citi's leadership and balance sheet problems would likely preclude it from making any large acquisitions, even if the regulators did permit it.

The subsequent financing arrangement to patch up those balance sheet problems in no way contradicts that assertion.]]> http://seekingalpha.com/article/49268-too-late-for-a-citigroup-breakup?source=feed#comment-98098 98098
However, I don't think a breakup strategy is necessarily reliant upon acquirers buying the spinoffs. Under most breakup schemes proposed, each of the single-line businesses would be big enough to stand alone indefinitely. In fact, that might be preferable.]]> Tue, 09 Oct 2007 11:00:31 -0400
However, I don't think a breakup strategy is necessarily reliant upon acquirers buying the spinoffs. Under most breakup schemes proposed, each of the single-line businesses would be big enough to stand alone indefinitely. In fact, that might be preferable.]]> http://seekingalpha.com/article/38625-why-citigroup-should-be-broken-up-now?source=feed#comment-88940 88940
There's just no excuse to drag this out any longer.]]> Mon, 18 Jun 2007 15:10:31 -0400
There's just no excuse to drag this out any longer.]]> http://seekingalpha.com/article/37913-creditsights-analyst-joins-the-breakup-citi-team?source=feed#comment-88255 88255 Mon, 11 Jun 2007 14:01:18 -0400 http://seekingalpha.com/article/34088-citigroup-execs-fear-activist-hedge-fund-targeting?source=feed#comment-85276 85276
Furthermore, I believe this FT story confirms that Citigroup insiders think so too.]]> Tue, 01 May 2007 09:51:42 -0400
Furthermore, I believe this FT story confirms that Citigroup insiders think so too.]]> http://seekingalpha.com/article/31485-pressure-on-citi-to-raise-bid-for-nikko-rises-to-new-heights?source=feed#comment-83640 83640 Wed, 04 Apr 2007 11:13:06 -0400 http://seekingalpha.com/article/23412-after-home-depot-s-nardelli-who-s-next-to-go?source=feed#comment-79614 79614
But, I say it's not just because the stock has performed so poorly during his tenure.

It's because, through his arrogant comments in Barron's and his subsequent unimpressive investor presentations, Chuck Prince has clearly demonstrated that he understands nothing about shareholder value. Yes, market prices will fluctuate for reasons out of managements' control. But, a CEO who is totally indifferent to shareholder value is bad news under any market conditions.

The longer this man keeps his job, the more Citi's share price will diverge from its potential.

Let's hope that the Citigroup board of directors is paying attention to Home Depot.]]> Wed, 03 Jan 2007 20:44:36 -0500
But, I say it's not just because the stock has performed so poorly during his tenure.

It's because, through his arrogant comments in Barron's and his subsequent unimpressive investor presentations, Chuck Prince has clearly demonstrated that he understands nothing about shareholder value. Yes, market prices will fluctuate for reasons out of managements' control. But, a CEO who is totally indifferent to shareholder value is bad news under any market conditions.

The longer this man keeps his job, the more Citi's share price will diverge from its potential.

Let's hope that the Citigroup board of directors is paying attention to Home Depot.]]> http://seekingalpha.com/article/21624-tom-brown-s-financial-services-picks?source=feed#comment-77289 77289
Mr. Brown estimates that a breakup would boost the share price by about 30% over today's price (of 49 and change).

www.bankstocks.com/art...;id=9880936]]> Sun, 03 Dec 2006 12:55:31 -0500
Mr. Brown estimates that a breakup would boost the share price by about 30% over today's price (of 49 and change).

www.bankstocks.com/art...;id=9880936]]>