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Strategies & Market Trends : Anthony@Pacific & TRUTHSEEKER Expose Crims & Scammers!!!

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From: StockDung	4/17/2007 11:36:19 AM
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PRINCE HAS CITI MOVING IN THE RIGHT DIRECTION By RODDY BOYD April 17, 2007 -- Citigroup chief executive Chuck Prince is finally going into an annual meeting with something of a tailwind at his back. The banking colossus reported first-quarter earnings yesterday, with Citi's revenue growth outstripping the growth in expenses for the first time in almost two years. Trading saw the stock rise $1.33 to $52.93. While profits for Citi, which holds its annual meeting today, dropped to $5.01 billion due to the $871 million charge for laying off 17,000 workers, it was the "where" in revenue growth - more than the number itself - that appeared to galvanize its long-suffering shareholders. The higher-margin investment banking and trading units showed profit growth of 36 percent; in contrast, corporate-lending profits declined $400 million, to $2.63 billion. Assaulted from all corners on its lethargic stock-price movement, the healthy earnings help Prince, and eventually, the cost savings will, too. This leaves Prince hoping for outsized profit growth from a combination of better business strategy, execution and old-fashioned favorable economic conditions. The most recent insight into Prince's game plan was the eye-popping purchase of Morgan Stanley alumni Vikram Pandit's $4.5 billion Old Lane hedge fund for a rumored $600 million to $700 million. He is slated to take over the $59 billion Citi alternative-assets division.

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