Updated:

Jan 14, 2019

Original:

Sep 1, 2009

Break Out The Spandex, Vikram Pandit

Author:

Not sure how we missed this yesterday, but in the Wall Street Journal's ongoing effort to make sure you're not a fattie, the paper has moved on from cankles to abs. Specifically those of Terrell Owens, who shares his tips for flab blasting in the instructional video at left. Watch if you want to find out how to get cut from a dick. Not quite the look you're going for? You're in luck-- this is apparently the latest in a new series of work-out videos from various financial titans. So! Who do we want to see next? Obviously we're already intimately familiar with Charlie Gasparino's routine, but it wouldn't hurt him to get in front of the camera and shout out some inspirational lines in between grunts. Dykstra, given, and he could use the money. Pandidto, sure, and you haven't lived until you've seen someone in Stamford go 30 minutes of no mercy on the NordicTrack in a velour warm-up suit, so add him. Who else? Speaking of pec wailing wish lists, a HD version of this would be nice.

About a month ago, retired Citi CEO Sandy Weill set his alarm an hour early, got out of bed when it was still dark, ate a piece of rye toast, told Joan he'd see her when he'd see her, took the elevator downstairs to wait for the car that drove him out to Englewood Cliffs, and went on CNBC to proffer a small suggestion to Wall Street: break up the big banks. Perhaps you heard about it? Not many people were receptive to the notion of Weill giving them advice on the matter, which may or may not have had something to do with the fact that in his day, Weill couldn't get enough of big banks and was the man responsible for cobbling together the behemoth known as Citigroup, an institution so huge it can barely support its own weight. The response by most, in fact, was "Shut it, you old bag." But what about Vikram Pandit, the lucky guy who inherited the place? What did he think of Weill's tip? After giving it some good thought-- really and truly considering it-- for a few weeks, he's decided to take a pass: Citigroup’s chief executive has knocked back the idea of big banks being split up after calls from people such as his predecessor Sandy Weill. But not for the reasons you might think! Pandit actually agrees with Sando because if you think about it, Citi's already been broken up and is basically the bank it was before the merger that resulted in it needing firefighters to use a giant pulley system to lift it out of bed and get around every day. Pandit said Citi, formed in Mr Weill’s time with mergers such as the acquisition of Travelers in 1998, had already gone back to the basics of banking, and aside from some global markets businesses had sold most of the units from that deal. “What’s left here is essentially the old Citicorp,” he told the Financial Times. “That’s a tried and proven strategy. Why did it work? Because it was a strategy based upon operating the business and serving clients and not a strategy based on dealmaking. That’s the fundamental difference.” So we're all on the same page here. Citi Chief Rejects Calls For Bank Splits [FT]

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