FWIW, Citigroup is the cover story for Business Week's June 7 issue.
It's their "company of the week," and the info will be online for 90 days. (A drop box lets you pick from a list of archived formerly featured companies.)
Despite the cover's headline, i'd say it's a generally positive story.
businessweek.com
CITIGROUP: IS THIS MARRIAGE WORKING?
Are two heads really better than one at Citigroup?
Excerpts:
"Co-CEOs are hard," says John S. Reed, who after the merger of his Citicorp with
Travelers Corp. shares the top spot at the new Citigroup with former Travelers'
CEO Sanford I. Weill. One year after the integration of Citicorp and Travelers
began in earnest, there's evidence that the relationship is fraying...
A more political analysis of the two would be that Weill and Reed could be headed for a showdown. [Dec 31 is floated as the date of the showdown. Reed proposes a public coin toss to pick a single CEO.] Scuttlebutt is that Weill is winning the battle by putting his lieutenants on the ground. They say Reed, something of a loner, has few internal allies...
-----------------
Return on equity was 24% in the first quarter, well above its goal of 20%. Citi's stock also has rebounded from the lows of last fall, rising from 32 1/2 on Oct. 8, the day the deal was closed, to 64 currently....
One interesting factoid:
... the top 70 managers at Citigroup have agreed that they won't sell 75% of their Citigroup stock until they retire. |
