Citi still wants Wachovia but they can't get it themselves and that's where you come in. The bank is said to be reaching out to potential partners in a new bid for Wachovia's branches in the northeast and mid-Atlantic regions, approaching anyone who'll sign on the dotted line, stat. Think you might be interested? We remind you that the ceasefire among Citi, Wells Fargo and Wachovia ends today at noon, and everyone involved would like to have this shit wrapped by then. Act now, ask questions later.
Citigroup Is Seeking Allies In Fight to Secure Wachovia [WSJ]
Posted by artie help , Oct 08, 2008 9:04AM
citi rules. Buy mcdonald's. hold forever.
Posted by guest , Oct 08, 2008 9:05AM
I'd pick up a branch or two. What are they asking?
Posted by guest , Oct 08, 2008 9:06AM
Citi will "Walk-ova-ya"
Posted by guest , Oct 08, 2008 9:06AM
Artie, you are a genius. With McDonalds do you mean hold the stock or food forever?
Posted by guest , Oct 08, 2008 9:13AM
@4, I still have a McDLT that has not appreciated in value over the last 20 years.
However, the commercial with Jason Alexander most certainly has: http://www.youtube.com/watch?v=UTSdUOC8Kac
Posted by Investorcluzo , Oct 08, 2008 9:14AM
@artie - I've been long mcd since the mad cow scare! the only thing in my p.a. that is still up...
citi isn't going to walk over anyone. if you need a "partner" to do a deal, you probabaly shouldn't be doing the deal. to quote 1-2: citi is like an airline without a partner. question for the group, what's the bottom look like? is it 10x earnings, 5x, 3x? oh, let me know what earnings you're referring to...
Posted by guest , Oct 08, 2008 9:19AM
Cluzo--Forget p/e. P/BV now. The question is how much lower than "book".
Posted by guest , Oct 08, 2008 9:20AM
They might as well have issued a press release that says "Um, that outrage about getting trumped by Wells? Um, yeah, well, we were just bluffing. We dont have the money. *sorry*..."
Posted by MarshallStack , Oct 08, 2008 9:21AM
Mickey D's sells books?
Are you sure?
Posted by guest , Oct 08, 2008 9:24AM
Holly Madison has broken up with Hef !!
Posted by Anal_yst , Oct 08, 2008 9:25AM
@8
You think that $60bn in damages was an arbitrary #?
@ Bess
Is there a UBS *hint hint* in that heading?
Posted by guest , Oct 08, 2008 9:27AM
@11 - you mean "SIXTY BEEEELION DOLLARS"?
Posted by guest , Oct 08, 2008 9:34AM
Holy shit the pic of a resignedly glum Bobby Steel walking to the car bears a eery resemblance to Carlo's Rizzi's last scene from GF
Hello Bob
http://www.charlotteobserver.com/business/story/239169.html
Boies looks to be directing Steel to get in the front seat. We know how that worked out for Carlo - "You have to answer for Santino, Carlo"
http://www.youtube.com/watch?v=c6gq1iM4a10
Posted by diablo , Oct 08, 2008 9:37AM
Hey Bess, EP:
Pick up the MetLife story... down 25%
Posted by guest , Oct 08, 2008 9:37AM
Citi is a disaster of an institution.
Posted by guest , Oct 08, 2008 9:45AM
I love Citibank and pandit is doing his best.
Posted by guest , Oct 08, 2008 9:47AM
May I ask, what the hell is going on with the market?
Posted by guest , Oct 08, 2008 9:53AM
Citi needs to get out of the kitchen,they can,t cook !!!!!!!!!!!!!!
Posted by guest , Oct 08, 2008 10:25AM
Citi sucks at retail banking. They were born and bred in NY but they were very slow to expand even within NYC. If Citi was smart, they would have built a branch right next to Peter Luger's. I doubt they have a single branch in Williamsburg.
Posted by diablo , Oct 08, 2008 10:29AM
Before this mess Citi was already in trouble. Now it's in more trouble. Wish for a happy ending, really.
Posted by artie help , Oct 08, 2008 10:31AM
cluzo i don't give a fuck what's in your portfoio . Keep it to yourself. Go back to reading gawker.
Posted by guest , Oct 08, 2008 11:22AM
@21
ALRIGHT! YOU SAID IT! CLUZO GOT SERVED!
Posted by guest , Oct 08, 2008 12:00PM
i said it once, i'll say it again - citi will "walk ova ya"...get it? wachovia...walkovaya...is this thing on?
Posted by guest , Oct 08, 2008 12:42PM
Yes, @23, and when Wells buys them it will be Well Fachovia.
Posted by guest , Oct 08, 2008 1:46PM
@23 and 24
For all employees and customers out there, don't worry...Bob Steel will "Watch-ova-ya."
Posted by guest , Oct 08, 2008 2:28PM
Why is CITI fighting over this? The bailout package deems the contract null and void. Plus its going to lose the shareholder vote anyway! What is taking them so long to get this issue over and done with? Plus why doesn't Wachovia have a say in all this- they need to.