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  • 29 May 2009 at 10:09 AM

Citi Center Landlord Enhancing Building’s Prestige By Not Having Word “Citi” Anywhere Near It

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To: All New York City Employees
From: Citi Realty Services
Please be advised that effective Monday, June 1, the name and address of the Citigroup Center building will become 601 Lexington Avenue.
Employees will note the newly constructed main entrance on Lexington Avenue, which will be open and operational on Monday. All building employees can continue to utilize all building entrances and turnstiles as usual. All visitors, however, will be required to use the new entrance, where the Security Desk will be relocated.
These changes were made by the building’s landlord, Boston Properties, to greatly enhance the building and reflect its prestigious tenancy.
Please note that for mailing purposes, the address 153 E 53rd Street will remain valid as a secondary address. There is no change required for letterhead, business cards, etc.
Thank you.

  • 28 Apr 2009 at 12:08 AM

BAC, C Take Issue With Suggestion They Need More Capital

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Regulators have told Bank of America Corp. and Citigroup Inc. that the banks may need to raise more capital based on early results of the government’s so-called stress tests of lenders, according to people familiar with the situation.
The capital shortfall amounts to billions of dollars at Bank of America, based in Charlotte, N.C., people familiar with the bank said.
Executives at both banks are objecting to the preliminary findings, which emerged from the government’s scrutiny of 19 large financial institutions. The two banks are planning to respond with detailed rebuttals, these people said, with Bank of America’s appeal expected by Tuesday.

We are given to understand that BAC will be objecting on the grounds of “shrinkage” (Lewis was in the pool), which gave us an inaccurate representation of things, and Citi’s yet to come up with something. Do Vikram Pandit a solid and offer a good excuse now. He’ll pick the best one from comments in the morning.
Fed Pushes Citi, BofA to Increase Capital [WSJ]

  • 18 Nov 2008 at 5:04 PM

Oh No She Di’Int

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Peter Morici, a University of Maryland professor in a bow-tie, says that giving the Big Three automakers will “create another AIG.” (He also says if Chapter 11 is put off, “the industry will continue to shrink.”)