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.