As those of you who keep up with the trials and travails of Wall Street’s celebrity analysts know, Citigroup has not always had the best relationships with these sensitive and highly-strung individuals. At one time or another, Meredith Whitney, Dick Bové, and Mike Mayo have all had their emotions toyed with and, particularly in the case of the men, have not responded well. Bové got drunk and sent out a mass email detailing the ways in which Citi defiled her and treated her like a cheap whore not deserving of respect and a couple years back, Mike Mayo went public with his own drama, wherein he and Vikram went from being super close in 2007 to the Citi CEO going radio-silent. FOR NO REASON. FOR TWO YEARS. Continue reading »
Citigroup
That’s Interesting, Because Just The Other Day, Vikram Pandit Was Telling Someone That He’d Rather Hear Alec Baldwin’s Opinions On Airplane Etiquette Than Mike Mayo’s On How To Run A Bank
By Bess LevinFor reasons that are not yet entirely clear, Sandy Weill is selling all his worldly possessions. (He claims he and the wife are “downsizing a little bit” but this smacks more of someone having a feng shui attack.) Earlier this month it was Sando’s 15 Central Park West penthouse, which was bought for $88 million as a gift for a 22 year-old fertilizer heiress, today it’s his yacht. For those in the market: Continue reading »
Thinking you’d be getting a bonus this year? Think again, says the anonymous banker who spent the day bursting innocent financial services employees’ bubbles and asking young children “riddle me this” re: why they think anyone other than their parents would not only a) give rat’s ass that they went through the normal incidence of aging known as losing one’s tooth and b) compensate them for doing so? Continue reading »
Cuts still going down at the House of Vikram. Continue reading »
The previously mentioned cuts have continued to go down this morning. Continue reading »
The aforementioned cuts have apparently begun. Continue reading »
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Happiness
And If You Would Take A 98% Pay Cut In Order To Work At Citi, That’s Okay Too**
By Bess Levin
As you may have heard, many of your colleagues in the financial services industry will be laid off in the coming months, if they haven’t been already. Wall Street is in the process of cutting 200,000 positions, and those who aren’t escorted into a room with an HR representative and a box of tissues should consider themselves lucky, particularly if they need money to live, have a family to support, and/or like their jobs. For others, however, being told they have 20 minutes to box up their things, walk out the door and not come back unless they want to tussle with security turns out to be the best thing that ever happened to them. These would be people who’ve either been suppressing a nagging voice telling them to go after a passion that doesn’t involve working on Wall Street or for whom the appeal simply lies in not spending the majority of their day fantasizing about life that doesn’t so closely resemble hell. Among those who fall into the latter category, coming into the office has gotten so bad that if you gave them the option to leave their current situation to take a 95% pay cut and run the risk of death by stabbing, they’d go jump at the opportunity. Wyatt Laikind knows what we’re talking about. Continue reading »
