Citigroup - Business ExchangeMost Active Articles2009-11-26T13:36:21.843-05:00Business ExchangeBusiness_Exchange@businessweek.comurn:com:businessweek:bx:topic:most-active:citigroupMara Der Hovanesianmderhovanesian536Citigroup's Kalvaria on the return of the megadeal (Dealscapeurn:com:businessweek:bx:article:542951493402749060-1f200b7e7fa248a5ce20b271ed178c802009-11-18T15:32:44.965-05:00Leon Kalvaria, vice chairman of the institutional clients group of Citigroup Inc. (NYSE:C), was at The Deal Economy 2010 conference on Wednesday in New York. In this video, Kalvaria, who is an adviser for Kraft Inc.Leon Kalvaria, vice chairman of the institutional clients group of Citigroup Inc. (NYSE:C), was at The Deal Economy 2010 conference on Wednesday in New York. In this video, Kalvaria, who is an adviser for Kraft Inc.thedeal.comhttp://www.thedeal.com/dealscape/2009/11/citigroups_kalveria.phpBrennen Wysongbwysong5984400Reed Apologizes for Glass Steagall Repeal, Building Citigroupurn:com:businessweek:bx:article:13486512844159244504-ad6e2c60d48427a8867bc2823bd29a662009-11-06T08:25:03.704-05:00John S. Reed, who helped engineer the merger that created Citigroup Inc., apologized for his role in building a company that has taken $45 billion in direct U.S. aid and said banks that big should be divided into separate parts.John S. Reed, who helped engineer the merger that created Citigroup Inc., apologized for his role in building a company that has taken $45 billion in direct U.S. aid and said banks that big should be divided into separate parts.bloomberg.comhttp://www.bloomberg.com/apps/news?pid=20601087&sid=a.z4KpD77s80&pos=7Terence Rosetrose855141301Why I'm Holding On to Citigroup Stockurn:com:businessweek:bx:article:15304495825918818647-6ede19fbae9b99ca83ea2ba531a2e4072009-04-02T00:36:49.241-04:00) has quickly become one of the most rotten, stench-producing equities on the market. From taxpayer infuriating bailouts, to non-existent dividends, to Citi’s desperate attempts at asset rebuilding vis-à-vis self-amputation (think Nikko Cordial),...) has quickly become one of the most rotten, stench-producing equities on the market. From taxpayer infuriating bailouts, to non-existent dividends, to Citi’s desperate attempts at asset rebuilding vis-à-vis self-amputation (think Nikko Cordial),...SeekingAlpha.comhttp://seekingalpha.com/article/128648-why-i-m-holding-on-to-citigroup-stock?source=article_sb_popularSteve Bobrovsbobrov06429729430Citigroup, get a strategy already (Dealscapeurn:com:businessweek:bx:article:6044284358056161142-9540dcd5fad7b255726a02b750a9f46c2009-11-04T14:49:34.922-05:00There's been a lot of chatter about the future of Citigroup Inc. (NYSE:C), which has driven the company's shares to a three-month low. This isn't positive news for Citi, the government or taxpayers as the government is looking for a way to unload...There's been a lot of chatter about the future of Citigroup Inc. (NYSE:C), which has driven the company's shares to a three-month low. This isn't positive news for Citi, the government or taxpayers as the government is looking for a way to unload...Dealscapehttp://www.thedeal.com/dealscape/2009/11/citigroup_get_a_strategy.phpBrennen Wysongbwysong598111100Only a crazy person would invest in Citiurn:com:businessweek:bx:article:8808475009271052152-6bbfbfef3dfce0a3d054d45226aa12362009-01-14T09:14:10.106-05:00Yesterday, someone said to me, "Wow, look at Citi! Is it time to buy?" I believe the same question was asked about the last big buggy whip manufacturer. And Citigroup (NYSE: C) is in much worse shape than the last of the buggy whip manufacturers.Yesterday, someone said to me, "Wow, look at Citi! Is it time to buy?" I believe the same question was asked about the last big buggy whip manufacturer. And Citigroup (NYSE: C) is in much worse shape than the last of the buggy whip manufacturers.BloggingStockshttp://www.bloggingstocks.com/2009/01/13/only-a-crazy-person-would-invest-in-citi/Louis Navellierlnavellier52931931720Rebranding Citi Alternatives would be a waste (Dealscapeurn:com:businessweek:bx:article:13866394382923125441-ceb1f914da63a72b220944cc4ac332f52009-11-06T15:52:07.394-05:00Citigroup Inc. (NYSE:C) is reportedly mulling a rebranding of its lackluster alternatives investment unit, Citi Alternative Investments, or CAI, according to the Financial Times. This would be a poor use of company resources. One of the new names...Citigroup Inc. (NYSE:C) is reportedly mulling a rebranding of its lackluster alternatives investment unit, Citi Alternative Investments, or CAI, according to the Financial Times. This would be a poor use of company resources. One of the new names...thedeal.comhttp://www.thedeal.com/dealscape/2009/11/re-branding_citi_alternatives.phpBrennen Wysongbwysong5984400To Reinstate the Uptick Rule or Not? urn:com:businessweek:bx:article:12159181826629262142-95de92e6ecb12f59df857a3ca38a80802009-10-17T18:59:44.601-04:00In 1938, the U.S. Securities and Exchange Commission (SEC) adopted the uptick-rule, more formally known as rule 10a-1, after conducting an inquiry into the effects of concentrated short selling during the market break of 1937.
The SEC eliminated the uptick-rule on July 6, 2007. The elimination of the rule was preceded by an SEC order, placed on July 28, 2004, to create a one-year pilot temporarily suspending the uptick rule on select securities. The purpose of the suspension was so that the commission could study the effectiveness of the rule. The SEC’s Office of Economic Analysis and academic researchers provided the SEC with analysis of the data obtained during a six-month period starting May 2, 2005. The consensus was against the uptick rule, with the commission concluding that the uptick rule “modestly reduced liquidity but did not appear necessary to prevent manipulation.” However, the pilot test for one year did not test for a rogue wave thought to have partly caused the 1929 crash, and for which there was no known theory in money markets.
The rule was originally put in place to avoid the perpetration of a financial crime known as a bear raid. However, short sellers themselves viewed the rule as “largely symbolic” and having little actual effect on short selling.
On August 27, 2007, the New York Times published an article on Muriel Siebert, former state banking superintendent of New York, “Wall Street veteran and financial sage”, and, in 1967, the first woman to become a member of the New York Stock Exchange. In this article she expressed severe concerns about market volatility: “We’ve never seen volatility like this. We’re watching history being made.” Siebert pointed to the uptick rule, saying, “The S.E.C. took away the short-sale rule and when the markets were falling, institutional investors just pounded stocks because they didn’t need an uptick.”
In 1938, the U.S. Securities and Exchange Commission (SEC) adopted the uptick-rule, more formally known as rule 10a-1, after conducting an inquiry into the effects of concentrated short selling during the market break of 1937.
The SEC eliminated the uptick-rule on July 6, 2007. The elimination of the rule was preceded by an SEC order, placed on July 28, 2004, to create a one-year pilot temporarily suspending the uptick rule on select securities. The purpose of the suspension was so that the commission could study the effectiveness of the rule. The SEC’s Office of Economic Analysis and academic researchers provided the SEC with analysis of the data obtained during a six-month period starting May 2, 2005. The consensus was against the uptick rule, with the commission concluding that the uptick rule “modestly reduced liquidity but did not appear necessary to prevent manipulation.” However, the pilot test for one year did not test for a rogue wave thought to have partly caused the 1929 crash, and for which there was no known theory in money markets.
The rule was originally put in place to avoid the perpetration of a financial crime known as a bear raid. However, short sellers themselves viewed the rule as “largely symbolic” and having little actual effect on short selling.
On August 27, 2007, the New York Times published an article on Muriel Siebert, former state banking superintendent of New York, “Wall Street veteran and financial sage”, and, in 1967, the first woman to become a member of the New York Stock Exchange. In this article she expressed severe concerns about market volatility: “We’ve never seen volatility like this. We’re watching history being made.” Siebert pointed to the uptick rule, saying, “The S.E.C. took away the short-sale rule and when the markets were falling, institutional investors just pounded stocks because they didn’t need an uptick.”
penny-trader.comhttp://www.penny-trader.com/?p=342George Flagggflagg982121002Finance Layoffs: Citigroup, BofA and more (Dealscapeurn:com:businessweek:bx:article:14568567273539762105-1b50d3c26776cb9c161a9ce5787af1032009-11-05T15:34:24.555-05:00More bad news for those in the finance industry. The latest reports and rumors of layoffs are at Bank of America Corp. (NYSE:BAC), Halifax, Citigroup Inc. (NYSE:C) and Bryn Mawr Bank Corp. Bank of America is closing its office in Lynchburg, Va.More bad news for those in the finance industry. The latest reports and rumors of layoffs are at Bank of America Corp. (NYSE:BAC), Halifax, Citigroup Inc. (NYSE:C) and Bryn Mawr Bank Corp. Bank of America is closing its office in Lynchburg, Va.thedeal.comhttp://www.thedeal.com/dealscape/2009/11/finance_layoffs_citigroup_bank_of_america_and_more.phpBrennen Wysongbwysong5982200SEC Studies Restoring Uptick Rule That Could Have Mitigated Bear Market in U.S. Stocks urn:com:businessweek:bx:article:3816240419103607937-db6cd94facd6533822fbe543f0f080512009-10-26T08:54:47.997-04:00U.S. Federal Reserve Chairman Ben S. Bernanke is a proponent of the uptick rule’s restoration.
“If the rule is to be restored, it should apply to all equally, including market makers as well as professional traders and individual investors,” Bernanke said during a question-and-answer session with the House Financial Services Committee in late February. “If the rule had never gone away it may have been helpful during this current crisis that we face.”
The rule, which was introduced in the Securities Exchange Act of 1934, was actually implemented four years later. It was designed to prevent short sellers from adding to the downward price momentum of an asset whose price was already under pressure and undergoing a sharp decline. The uptick rule was eliminated in June 2007.
On April 8, the SEC voted unanimously to open a 60-day public comment period and is now seeking investor input “on whether short-sale price restrictions or circuit-breaker restrictions should be imposed and whether such measures would help promote market stability and restore investor confidence.”
The agency developed five new proposals related to short selling and wants the public to file comments. The 60-day commenting period ends June 19, said Mary L. Schapiro, chairman of the SEC.
Two of the five proposals would involve a market-wide institution of the old uptick rule. The three others would create a “circuit breaker,” which is sometimes also referred to as a “collar.” These three would set restrictions on trading activity due to a freefalling stock price. As proposed, circuit breakers would be established for when the security has fallen 10%, 20% and 30%.
The five proposals consist of:
U.S. Federal Reserve Chairman Ben S. Bernanke is a proponent of the uptick rule’s restoration.
“If the rule is to be restored, it should apply to all equally, including market makers as well as professional traders and individual investors,” Bernanke said during a question-and-answer session with the House Financial Services Committee in late February. “If the rule had never gone away it may have been helpful during this current crisis that we face.”
The rule, which was introduced in the Securities Exchange Act of 1934, was actually implemented four years later. It was designed to prevent short sellers from adding to the downward price momentum of an asset whose price was already under pressure and undergoing a sharp decline. The uptick rule was eliminated in June 2007.
On April 8, the SEC voted unanimously to open a 60-day public comment period and is now seeking investor input “on whether short-sale price restrictions or circuit-breaker restrictions should be imposed and whether such measures would help promote market stability and restore investor confidence.”
The agency developed five new proposals related to short selling and wants the public to file comments. The 60-day commenting period ends June 19, said Mary L. Schapiro, chairman of the SEC.
Two of the five proposals would involve a market-wide institution of the old uptick rule. The three others would create a “circuit breaker,” which is sometimes also referred to as a “collar.” These three would set restrictions on trading activity due to a freefalling stock price. As proposed, circuit breakers would be established for when the security has fallen 10%, 20% and 30%.
The five proposals consist of:
moneymorning.comhttp://www.moneymorning.com/2009/05/04/uptick-rule/George Flagggflagg9823201Citigroup stock dive rebuffs claim by Treasury's Paulsonurn:com:businessweek:bx:article:11626053373535323286-146fe2145beb40f8faa94f5d5a9afaad2008-11-21T09:43:30.337-05:00Citigroup shares dived $1.69, or 26.4%, to $4.71, leading another meltdown in financial shares, as investors bailed out on fears that the sinking economy could torpedo the financial giant. Citigroup shares dived $1.69, or 26.4%, to $4.71, leading another meltdown in financial shares, as investors bailed out on fears that the sinking economy could torpedo the financial giant. latimes.comhttp://www.latimes.com/business/la-fi-paulson21-2008nov21,1,4014940.storyLauren Younglyoung40420119740Citigroup, Once World’s Biggest Bank, Sees Stock Drop Below $1 urn:com:businessweek:bx:article:16679808403474640618-7d436cdb355b926224ad273d8aa4723f2009-03-05T12:28:28.925-05:00Citigroup Inc. dropped below $1 in New York trading for the first time, the latest sign that stock investors are losing confidence in a company that was once the world’s biggest bank by market value. Citigroup Inc. dropped below $1 in New York trading for the first time, the latest sign that stock investors are losing confidence in a company that was once the world’s biggest bank by market value. bloomberg.comhttp://www.bloomberg.com/apps/news?pid=20601087&sid=aKLJO8S5nFaU&refer=homeLauren Younglyoung40412212110Citi closing Mastercards without warningurn:com:businessweek:bx:article:17546891752936125476-09ac879423b84fae13a6b6b2217d43052009-10-20T14:43:01.302-04:00NEW YORK - Shannon Burdette tried to pay with her Shell Mastercard after filling up her gas tank this weekend but found the card rejected. Confused, she called the customer service line on the back of the card, issued by Citibank, and was told the...NEW YORK - Shannon Burdette tried to pay with her Shell Mastercard after filling up her gas tank this weekend but found the card rejected. Confused, she called the customer service line on the back of the card, issued by Citibank, and was told the...msnbc.msn.comhttp://www.msnbc.msn.com/id/33388210/ns/business-consumer_news/Sandy McCarronsmccarron608101000How a Blizzard Saved the ATMurn:com:businessweek:bx:article:13944560888569407496-3fd7d730a77d477061b5eb8223b8d9a92009-11-03T08:38:39.698-05:00"Build it and they will come." We hear that mantra a lot. But with innovation, it is often more like, "Solve a pain and they will come." The ultimate success of the Automated Teller Machine (ATM) is a great example of this. The other night I was..."Build it and they will come." We hear that mantra a lot. But with innovation, it is often more like, "Solve a pain and they will come." The ultimate success of the Automated Teller Machine (ATM) is a great example of this. The other night I was...business-strategy-innovation.comhttp://www.business-strategy-innovation.com/2009/11/how-blizzard-saved-atm.htmlBraden Kelleybkelley0340000 Citigroup fuels hopes of Wall Street bank rallyurn:com:businessweek:bx:article:8455320011732687373-73113dc9ec305c6fbfc51766405fee512009-03-10T09:04:22.825-04:00Citigroup fuels hopes of Wall Street bank rally By Kiran Stacey in New York Published: March 10 2009 12:55 | Last updated: March 10 2009 12:55 US stocks were set to rise on Tuesday after some rare good news from the battered banking giant Citigroup.Citigroup fuels hopes of Wall Street bank rally By Kiran Stacey in New York Published: March 10 2009 12:55 | Last updated: March 10 2009 12:55 US stocks were set to rise on Tuesday after some rare good news from the battered banking giant Citigroup.ft.comhttp://www.ft.com/cms/s/0/c31b01e4-0cef-11de-a555-0000779fd2ac.htmlMaharshi Patelmpatel54310510410sprint.com/citigroupurn:com:businessweek:bx:article:930860210907466440-f95a2465527c57289da31ae6421251642009-10-27T23:49:00.000-04:00I am wondering if since I am not an employee of citigroup, if I could...I am wondering if since I am not an employee of citigroup, if I could...HowardForums: Your Mobile Phone Community & Resource - Sprint.HowardForums.comhttp://www.howardforums.com/showthread.php?t=1583726&goto=newpost161600Government outlines a new plan to rescue Citigroupurn:com:businessweek:bx:article:11803246327890263462-e8e060e07767e5cdf045d1c9a85633a32008-11-24T08:22:17.369-05:00Slate rounds up the Citi bailout news this morning; The Los Angeles Times, and Wall Street Journal lead with the late-night announcement of a plan to rescue ailing banking giant Citigroup....Slate rounds up the Citi bailout news this morning; The Los Angeles Times, and Wall Street Journal lead with the late-night announcement of a plan to rescue ailing banking giant Citigroup....slate.comhttp://www.slate.com/id/2205308/Shirley Bradysbrady22417517140Citigroup: The Beginning and End of the Current Rally?urn:com:businessweek:bx:article:4638527366787842401-b92f26abfb8dece2708aa4491e6120052009-04-19T02:56:00.000-04:00It seems like just a short time ago when ZachStocks published thoughts on Citigroup's (C) pre-announcement which got this whole rally off and movingIt seems like just a short time ago when ZachStocks published thoughts on Citigroup's (C) pre-announcement which got this whole rally off and movingSeekingAlpha.com: Home Pagehttp://seekingalpha.com/article/131579-citigroup-the-beginning-and-end-of-the-current-rally?source=feed838210Citigroup OK for now, may still face trouble | Special Coverageurn:com:businessweek:bx:article:14666377984416742035-e882588ce96626a1685e330d838d1ff22009-05-07T06:23:42.593-04:00NEW YORK (Reuters) - Citigroup, long the problem child of the U.S. banking industry, got a surprise boost on Wednesday when it was disclosed government stress tests will require it to raise about $5 billion. The result could strengthen the position...NEW YORK (Reuters) - Citigroup, long the problem child of the U.S. banking industry, got a surprise boost on Wednesday when it was disclosed government stress tests will require it to raise about $5 billion. The result could strengthen the position...Reutershttp://www.reuters.com/article/gc06/idUSTRE5458F420090507Steven Audinosaudino089717010Citi not big enough for Alwaleed and Uncle Sam (Dealscapeurn:com:businessweek:bx:article:13417828083335434302-8aae75f75b711aa9b44a7ba0952c7ca52009-10-05T15:44:08.974-04:00Prince Alwaleed bin Talal's Kingdom Holdings has generally remained tight lipped in regards to its 4% stake in Citigroup Inc. (NYSE:C). But with the U.S. government holding a 34% stake in Citigroup after the bailouts -- displacing Kingdom Holdings...Prince Alwaleed bin Talal's Kingdom Holdings has generally remained tight lipped in regards to its 4% stake in Citigroup Inc. (NYSE:C). But with the U.S. government holding a 34% stake in Citigroup after the bailouts -- displacing Kingdom Holdings...thedeal.comhttp://www.thedeal.com/dealscape/2009/10/citi_not_big_enough_for_alwale.phpBrennen Wysongbwysong5984301Reinstate the uptick rule NOW!urn:com:businessweek:bx:article:878584429470903162-4c253473a74c185f616056a1fa3dbe412009-10-17T18:53:50.727-04:00Feb. 25 (Bloomberg) – “Federal Reserve Chairman Ben S. Bernanke (pictured left) said there may be a benefit in resurrecting a rule that restricts short-selling stocks when share prices are falling amid the current bear market. “In the kind of environment we have seen more recently” the so-called uptick rule “might have had some benefit,” Bernanke said in testimony before the House Financial Services Committee today. The rule, scrapped by the U.S. Securities and Exchange Commission in 2007, barred investors from betting against a stock until it sells at a higher price than the preceding trade.
Feb. 25 (Bloomberg) – “Federal Reserve Chairman Ben S. Bernanke (pictured left) said there may be a benefit in resurrecting a rule that restricts short-selling stocks when share prices are falling amid the current bear market. “In the kind of environment we have seen more recently” the so-called uptick rule “might have had some benefit,” Bernanke said in testimony before the House Financial Services Committee today. The rule, scrapped by the U.S. Securities and Exchange Commission in 2007, barred investors from betting against a stock until it sells at a higher price than the preceding trade.
georgesmayblog.comhttp://www.georgesmayblog.com/reinstate-the-uptick-rule-now/George Flagggflagg9821001UPTICK RULE: MOMENTUM BUILDS - WAITING FOR SEC ACTIONurn:com:businessweek:bx:article:11341081436255806339-6842cf116503645fb80bcb7f69cf98842009-10-17T18:39:10.345-04:00Law Firm Wachtell, Lipton, Rosen & Katz, letter to SECLaw Firm Wachtell, Lipton, Rosen & Katz, letter to SECamlawdaily.typepad.comhttp://amlawdaily.typepad.com/files/uptick-rule--momentum-builds---waiting-for-action.pdfGeorge Flagggflagg9821001Citigroup Finally Panics urn:com:businessweek:bx:article:347456982826580945-ed91bede022b901776623cc86a90103f2008-11-21T12:14:56.560-05:00Alas, it's probably too late to save the common shareholders.Alas, it's probably too late to save the common shareholders.clusterstock.alleyinsider.comhttp://clusterstock.alleyinsider.com/2008/11/citigroup-finally-panicsCharles Dubowcdubow60211911540Get Ready For Another Rescue Weekend: Citi (C) Shares Drop Toward Abyss urn:com:businessweek:bx:article:212005944303023592-ac23da94163e9a40482f702e4fb0f4bf2008-11-21T12:15:56.111-05:00Buckle your seat belts, put up your traybacks and please return your seats to an upright position.Buckle your seat belts, put up your traybacks and please return your seats to an upright position.clusterstock.alleyinsider.comhttp://clusterstock.alleyinsider.com/2008/11/get-ready-for-another-rescue-weekend-citi-c-shares-are-toastCharles Dubowcdubow60211611240Open Question: Does anyone know what the company PSS is? they're...urn:com:businessweek:bx:article:17252030334878191522-71077a20bf860e386196f4103cc885522009-10-22T01:17:00.000-04:00...a division of CitiGroup but I still can't find anything about this company. I found PSS Systems, but they have nothing to do with CitiGroup......a division of CitiGroup but I still can't find anything about this company. I found PSS Systems, but they have nothing to do with CitiGroup...Yahoo! Answers: Business & Financehttp://answers.yahoo.com/question/index?qid=20091021221713AASJ0Ux131300B of A, Citigroup could be nationalizedurn:com:businessweek:bx:article:13612745631293219800-4e3135987d96ae033c4037c3ec629c402009-01-21T09:20:47.657-05:00The biggest names in U.S. banking, like Citigroup (C, news, msgs), and Bank of America (BAC, news, msgs), could be nationalized, The Wall Street Journal reported today. The biggest names in U.S. banking, like Citigroup (C, news, msgs), and Bank of America (BAC, news, msgs), could be nationalized, The Wall Street Journal reported today. articles.moneycentral.msn.comhttp://articles.moneycentral.msn.com/Investing/Dispatch/market-dispatches-012109.aspx?icid=dispatch_090121Louis Navellierlnavellier529818001