The concise answer would be a resounding, “Yes, that’s exactly what it indicates.” But in the event you’re pressed to offer a bit more color, here’s what the Big C would urge you to trot out:
Why was Citi de-listed?
It seems, Dow Jones made its decision based on the fact that Citi is undergoing a large-scale restructuring. The decision by the Dow Jones was not taken lightly. According to the press release issued by the DJIA in announcing this…”We genuinely hope that once the bank has refashioned itself that we will again be able to consider it for inclusion. Citigroup is renowned institution, not only in this country, but around the world.”
What are the rules for being included in the Dow?
There are no rules for inclusion. According to the Dow website, usually a stock is added only “if it has an excellent reputation, demonstrates sustained growth, is of interest to a large number of investors and accurately represents the sectors covered by the average.”
How long will Citi be de-listed for?
We do not know. But as per quote from the press release noted above, “We genuinely hope that once the bank has refashioned itself that we will again be able to consider it for inclusion.”
What is the current strategy to strengthen Citi’s position in the industry?
Citi is continuing to drive value in three stages: Getting fit, restructuring and maximizing Citi. Citi has one of the largest capital levels of the industry and a very strong liquidity position. Results of the recent stress tests, which were rigorous and thoroughly tested all of the bank’s ability to weather a significant level of economic stress. As a result of the test outcome, we have implemented a relatively small expansion of our previously announced public exchange offers. This expanded offering, along with previously announced actions (including the Smith Barney Joint Venture, which closed today, 6/1/09, and the announced sale of Nikko Cordial Securities), are expected to fully satisfy the capital cushion outlined by the stress test results. The results of the test validate the strategy and actions we have taken during the last 15 months to get our company fit. With a strong capital cushion to withstand significant economic stress, we can lead from strength by focusing on our clients and continue building our business to maximize the earnings power of the Company.
or just play them a sad trombone.
“What are the rules for being included in the Dow?
There are no rules for inclusion. According to the Dow website, usually a stock is added only “if it has an excellent reputation, demonstrates sustained growth, is of interest to a large number of investors and accurately represents the sectors covered by the average.”
”
obviously, as you know, we do not fall under any of those categories.
#2 – Well played… well played…
The Dow is so 90′s….. The SPX is the new Black!
I love the passivity of the first 2 words of the 1st explanation… “it seems….”
@2: Brutal….well played, but brutal !!
how long before some douche tells #5 to look at the tag. it seems that people that post on this bitch forum care more about grammar and spelling than the actual meaning of the posts.
Oh, how the wind blows! I walk past Greenwich St. each night, and rarely do I see black cars huddled around the corner waiting to pick up Comrades de la Pandito anymore. Regular plebian cabs, blasting Amer Diab, smoking nirdosh, hungrily waiting for the packs of North Face vests to be released, line the sidewalks.
An air of mediocrity shrouds the downtown Paneer Palace. :(
Any chance TRV will buy a Citi and unload the dead weight at the top?
As far as I know Citigroup has not announced yet for go to chapter 11
but di-listed from DJ.
My question: The value of stock is already zero when it removed fom Dow Jones list because of its “large and ongoing” government stake.
Can one of the grammar junkies around here please tell me how this meets the definition of a sentence:
“Results of the recent stress tests, which were rigorous and thoroughly tested all of the bank’s ability to weather a significant level of economic stress.”
The “it seems” is absolutely hilarious.
#11 – you are right! and…?? and???????????? I call that “Sentoitous interruptus”…
@10 please to learn the english
@11 whoever was writing it up wanted to add a second word but couldn’t think of anything, then forgot to delete the and. so it would have looked like this
“Results of the recent stress tests, which were rigorous and brown-colored, thoroughly tested all of the bank’s ability to weather a significant level of economic stress.”
or like this
“Results of the recent stress tests, which were rigorous, thoroughly tested all of the bank’s ability to weather a significant level of economic stress.”
8- that would be Patagucci or Marmot, thank you very much!
who wrote this, an intern?
@17- it’s from Citi, wtf do you expect?
I like answer #3. It is an answer to a five-year-old’s question.
#2 you are spot on. This is a joke right? I seriously don’t think such a large corporation would issue such trash.
@20- sadly, no.
– citi employee who received this email
VBvlNc Say, you got a nice article post.Really thank you! Awesome.
Great article.Thanks Again. Much obliged.
I value the article.Much thanks again. Great.
Very neat article post.Thanks Again. Really Great.
I value the article.Really looking forward to read more. Keep writing.
Major thankies for the blog article.Thanks Again. Want more.
Thanks a lot for the article.Thanks Again. Will read on…