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My how the mighty have fallen

 
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gleek
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My how the mighty have fallen
« on: June 30, 2008, 08:12:15 PM »

Citigroup was largest bank in the US with a market cap of $306B. Today, it's #3 with a market cap of $88B. *goshdarn* brutal.
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twoiron
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Re: My how the mighty have fallen
« Reply #1 on: June 30, 2008, 08:15:26 PM »

That's sure to give someone the arsehole somewhere Shocked
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stroh
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Re: My how the mighty have fallen
« Reply #2 on: June 30, 2008, 08:21:07 PM »

Citigroup was largest bank in the US with a market cap of $306B. Today, it's #3 with a market cap of $88B. *goshdarn* brutal.

Wow that is impressive.

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MFAWG
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Re: My how the mighty have fallen
« Reply #3 on: June 30, 2008, 08:28:23 PM »

What was the CEO's annual bonus for managing not to fall out of the top 5?  Devil
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The things that will destroy America are prosperity at any price, peace at any price, safety first instead of duty first, the love of soft living and the get rich quick theory of life. -- Teddy Roosevelt
birdymaker
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Re: My how the mighty have fallen
« Reply #4 on: July 01, 2008, 05:01:12 AM »

What was the CEO's annual bonus for managing not to fall out of the top 5?  Devil

 Laugh at you Rolling
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Re: My how the mighty have fallen
« Reply #5 on: July 01, 2008, 07:59:21 AM »

What was the CEO's annual bonus for managing not to fall out of the top 5?  Devil

all the undisclosed knowledge of illegal accounting, real asset value, % of bad loans, blah blah... so he could position himself to maximize his stock options before they bellied up.  probably a few hundred million.

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Russia has invaded a sovereign neighboring state and threatens a democratic government elected by its people. Such an action is unacceptable in the 21st century.
--  Chimpy McFlightsuit, CEO of Bu$hco Industries of 'Merka
gleek
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Re: My how the mighty have fallen
« Reply #6 on: November 20, 2008, 07:35:30 AM »

Today's market cap: $28.5B.

90+% loss of market cap value since its all-time high.  Shocked

These large banks are trading like they're heading down Enron Avenue. Could this be irrational fear or does the Street know a lot more than Joe The "Deer Caught in the Headlights" Stock Investor does? There's no way in hell individual investors are driving these prices this low. It's the institutions bailing while the individual is left holding the empty bag.
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Aske
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Re: My how the mighty have fallen
« Reply #7 on: November 20, 2008, 09:49:56 AM »

On the bright side, F and GM are up 24%+ each today.
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Quote
Russia has invaded a sovereign neighboring state and threatens a democratic government elected by its people. Such an action is unacceptable in the 21st century.
--  Chimpy McFlightsuit, CEO of Bu$hco Industries of 'Merka
MFAWG
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Re: My how the mighty have fallen
« Reply #8 on: November 20, 2008, 10:43:42 AM »

Anybody check Lear Jet?  Devil
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The things that will destroy America are prosperity at any price, peace at any price, safety first instead of duty first, the love of soft living and the get rich quick theory of life. -- Teddy Roosevelt
Gamma Pi
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Re: My how the mighty have fallen
« Reply #9 on: November 20, 2008, 11:34:29 AM »

What was the CEO's annual bonus for managing not to fall out of the top 5?  Devil
Exec. bonuses plans should include a significant component based on how many full timers they employ while maintaining profitability. No exec. should receive additional compensation when they are responsible for an organization with thousands (52k at Citi!!!) of lost jobs.
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MFAWG
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Re: My how the mighty have fallen
« Reply #10 on: November 20, 2008, 06:33:53 PM »

What was the CEO's annual bonus for managing not to fall out of the top 5?  Devil
Exec. bonuses plans should include a significant component based on how many full timers they employ while maintaining profitability. No exec. should receive additional compensation when they are responsible for an organization with thousands (52k at Citi!!!) of lost jobs.

Read that Citi's CEO is foregoing his bonus for the year, although whether he's downgrading to flying first class is still up in the air.

My thinking is that CEO compensation needs to be tied to long term performance somehow. The train went off the rails when quarterly and yearly profits became the be all and end all of 'Merkan capitalism.
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The things that will destroy America are prosperity at any price, peace at any price, safety first instead of duty first, the love of soft living and the get rich quick theory of life. -- Teddy Roosevelt
Fuzzy
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Re: My how the mighty have fallen
« Reply #11 on: November 20, 2008, 08:06:39 PM »

What was the CEO's annual bonus for managing not to fall out of the top 5?  Devil
Exec. bonuses plans should include a significant component based on how many full timers they employ while maintaining profitability. No exec. should receive additional compensation when they are responsible for an organization with thousands (52k at Citi!!!) of lost jobs.

Read that Citi's CEO is foregoing his bonus for the year, although whether he's downgrading to flying first class is still up in the air.

My thinking is that CEO compensation needs to be tied to long term performance somehow. The train went off the rails when quarterly and yearly profits became the be all and end all of 'Merkan capitalism.

'zactly.

True story - the last 2 years of my previous employ I was giving weekly and monthly forecast updates. On a product with a 9-15 month initial sales cycle.

Meaning we knew all of the potential opportunities 12-18 months out at any given point in time yet we still had to give our weekly updates every Monday.

Funny thing is, before we went public it was a much more sane environment. I've seen what Wall Street can do to a damn good company. They just announced another 225 layoffs, closed the manufacturing building I worked in and moved the manufacturing to Malaysia. As I had lunch with one of the survivors (for now) last week I realized I was glad I got whacked last March.  Sad
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gleek
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Re: My how the mighty have fallen
« Reply #12 on: November 20, 2008, 08:27:20 PM »

What was the CEO's annual bonus for managing not to fall out of the top 5?  Devil
Exec. bonuses plans should include a significant component based on how many full timers they employ while maintaining profitability. No exec. should receive additional compensation when they are responsible for an organization with thousands (52k at Citi!!!) of lost jobs.

Read that Citi's CEO is foregoing his bonus for the year, although whether he's downgrading to flying first class is still up in the air.

My thinking is that CEO compensation needs to be tied to long term performance somehow. The train went off the rails when quarterly and yearly profits became the be all and end all of 'Merkan capitalism.

'zactly.

True story - the last 2 years of my previous employ I was giving weekly and monthly forecast updates. On a product with a 9-15 month initial sales cycle.

Meaning we knew all of the potential opportunities 12-18 months out at any given point in time yet we still had to give our weekly updates every Monday.

Funny thing is, before we went public it was a much more sane environment. I've seen what Wall Street can do to a damn good company. They just announced another 225 layoffs, closed the manufacturing building I worked in and moved the manufacturing to Malaysia. As I had lunch with one of the survivors (for now) last week I realized I was glad I got whacked last March.  Sad

Since you started working at your old company before it went public, I'm guessing that this company isn't called Minnesota, Mining, and Manufacturing.
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gleek
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Re: My how the mighty have fallen
« Reply #13 on: November 20, 2008, 08:46:27 PM »

Today's market cap: $28.5B.

90+% loss of market cap value since its all-time high.  Shocked

These large banks are trading like they're heading down Enron Avenue. Could this be irrational fear or does the Street know a lot more than Joe The "Deer Caught in the Headlights" Stock Investor does? There's no way in hell individual investors are driving these prices this low. It's the institutions bailing while the individual is left holding the empty bag.

The stock closed at $4.71. The market cap is currently $25.67B. $3B in market cap loss in 6 hours.  Shocked

Holy crap! 724M shares traded today!  Shocked   That could be a sign of capitulation. There's a chance it goes up tomorrow.
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Aske
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Re: My how the mighty have fallen
« Reply #14 on: November 21, 2008, 05:33:03 AM »

rumor has it CITI will auction itself off today or very soon
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Quote
Russia has invaded a sovereign neighboring state and threatens a democratic government elected by its people. Such an action is unacceptable in the 21st century.
--  Chimpy McFlightsuit, CEO of Bu$hco Industries of 'Merka
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