Charlie Gasparino reports that Citi, having just realized that expenses are "now" getting out of control, is looking for creative ways to cut costs, stat. Supposedly, mid-level employees may be told over the next couple weeks that as part of a new and exciting compensation formula, they'll get to keep their jobs but not receive bonuses. Also, pay will no longer be salaried but hourly, which actually isn't that bad a deal, considering employees of the 'group are now required to work 24 hours a day. Vikram Pandit remains psyched about the company's prospects, and so should you.
Pandit Tightens Purse Strings [CNBC]
Posted by diablo , May 19, 2008 3:58PM
A group led by Spanish infrastructure operator Abertis Infraestructuras SA and Citigroup Inc. won bidding for the 75-year lease of the Pennsylvania Turnpike with a cash offer of $12.8 billion in what could be the largest privatization in the U.S. infrastructure sector to date. This is perfect for Citi, as toll roads are open 24 hours a day already because Citi never sleeps. It also offers new job opportunities for displaced Citi workers in Manhattan.
Posted by guest , May 19, 2008 4:04PM
in the words of t-pain and ace gutta:
"cash flow i need it on time, im talking bank roll,
my money my money my money
cash flow i need it on time, im talking bank roll,
my money my money my money
and where my money young niggas gotta have that
rubberband by the grand in a big bag
pockets fat like im carryin a backpack
a couple grand for the louie v knapsack
understand im the man who you cant match
money man mini van full of brown bags
bet a grand any man never top that
touch money in the game popped off strap
get coop in the top drop right back
i aint playin creepin avenue in all black
bug shots like a new gear day black
and i ride all day like a bus pass
grind mark for the bread and the cash flow
kick dope way phones where the cash grow
im tryna see it like im mufuckin castro
rubberband in my pants in a small bank roll "
Posted by lift all the offers , May 19, 2008 4:23PM
Doesn't sleeping require less oxygen than being awake? If more of their traders slept at their desks, maybe Citi could capture some of the excess oxygen and sell it.
Posted by Anal_yst , May 19, 2008 5:14PM
@ Lift
Are you suggesting Citi implement a sort of "Cap & Trade" system?
Posted by guest , May 19, 2008 6:55PM
Come on guys. Gasbagarino works ten minutes a day on the tube (half an hour when he is really busting his ass). Think about it - is there any employee of CNBC who is on the air less than "Dis Guy, Mr. Dee's and Doo's? Nope. Maybe CNBC should pay him by the hour. No wait - by the listener - ZERO. He spends the rest of the time chasing stupid leads (in pool halls and mens rooms throughout the city) or making shit up which is why he comes up with the ridiculous shit that he dumps on the tube each day. This dunce has one goal - take the facts and twist them so he can claim to be breaking news. The idiot simply breaks wind. Dennis Kneale even said so right on the air. CNBC will soon figure out that this is the father of the mute button and boot his ass to FOX who will boot his ass to Springer which is about his speed.
Ta Ta
Judge Judy
Posted by guest , May 19, 2008 6:55PM
Come on guys. Gasbagarino works ten minutes a day on the tube (half an hour when he is really busting his ass). Think about it - is there any employee of CNBC who is on the air less than "Dis Guy, Mr. Dee's and Doo's? Nope. Maybe CNBC should pay him by the hour. No wait - by the listener - ZERO. He spends the rest of the time chasing stupid leads (in pool halls and mens rooms throughout the city) or making shit up which is why he comes up with the ridiculous shit that he dumps on the tube each day. This dunce has one goal - take the facts and twist them so he can claim to be breaking news. The idiot simply breaks wind. Dennis Kneale even said so right on the air. CNBC will soon figure out that this is the father of the mute button and boot his ass to FOX who will boot his ass to Springer which is about his speed.
Ta Ta
Judge Judy
Posted by counterclockwise , May 19, 2008 7:55PM
When is Gasparino even on? I watch CNBC in the morning but have to leave at a certain point.
I've never seen this fabulous beast.
Posted by guest , May 20, 2008 10:20AM
cc. Good point. First, he may be a beast but there is nothing fabulous about him. He is a moron and more of a bust than a beast. He's only on for a couple of minutes a day because he is so fucking stupid, he meets CNBC's misinformation and annoyance quotient faster than any reporter they have.
Posted by guest , May 20, 2008 10:22AM
Judge Judy. Who are you? You are by far the funniest poster on DB. Thank you, thank you, thank you.