Mike Mayo Already Has His Outfit Planned For Friday's Big Date With Vikram Pandit

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It's common knowledge among womenfolk that when one has a big date or otherwise nerves-inducing event to attend, the best way to tame those butterflies is to wear something that makes you feel hot (and/or do some shots beforehand). When you look good you feel good and when you feel good you can focus on the task at hand. For Mike Mayo, that date is Friday, when he meets with Vikram Pandit, the man who jilted him, for the first time in two years.

When Pandit first took office in 2007, the guys hung out on the regular. Then something happened, no one really knows what, and Vickles just stopped calling. Mayo was confused at first and then angry. In June the two had a chance encounter in Boston wherein Pandit asked Mike, as though nothing had ever happened, "How's it going," to which the analyst responded, "Not well, I haven’t had a meeting with you in two years.” Pandit, promised then and there to meet with Mike (“It was man to man, eye to eye,” Mayo says) and then not a word. If we thought Mike was angry before, oh, the fury of a woman twice scored really reared head. After considering keying Vikram's car, Mayo decided to tell clients and whoever else would listen that the bank has been inflating its profits and needs to write down $50 billion of deferred-tax assets. Then came the really low blow, which was suggesting that not even Greek God Jamie Dimon could save that shit-hole. According to Charlie Gasparino, this, not unlike sleeping with all over you ex-boyfriend's friends, finally got Pandit's attention. He asked Mayo out and this time, officially set a date. And Mayo is ready. Sartorially speaking, at least.

Mr. Mayo already knows what he will be wearing: a dark suit and a tie he bought in Chicago that is blue with some silver strips on the side. “It is a tie even my secretary thinks is too conservative, so I feel it is perfect for this meeting,” he said.

He'll also have his girls with him. You know, for moral support. ("Mr. Mayo is bringing 10 or so investors with him.")

Critic Gets Meeting With Citigroup, Finally [NYT]


Former Citigroup Chairman Surprised/Not Surprised By Vikram Pandit's Departure, Has Some Vino To Sell You

According to Dick Parsons, who stepped down as chairman of Citi in March because Mike Mayo told him to, last week's news that Pandit had left the building for good was "somewhat" surprising, while at the same time, sort of expected, because whipping morbidly obese companies into shape just really isn't Vikram's thing. “You need seasoned, honed managers who can cause a 250,000, 300,000-personnel organization to march” with direction, Parsons said in a weekend interview at his Tuscan vineyard in Montalcino, Italy. “Vikram will tell you, ‘That’s not my bag.’” Pandit, 55, produced “every good idea that we had” to prevent Citigroup’s collapse during the financial crisis, Parsons said. New CEO Michael Corbat, 52, who previously ran the Citi Holdings unit, is well-equipped to lead the firm as it cuts costs and sells unwanted assets, the ex-chairman said. “Mike Corbat, who I knew back in the day when he ran the Holdings operation, is just that kind of man,” said Parsons, 64, adding that he was “somewhat” surprised by the timing of Pandit’s exit. “The transition and change was, in the long term, not inevitable but appropriate.” Anyway, who wants wine? Parsons, visiting his Il Palazzone vineyard to inaugurate a cellar, said regulatory pressures will still be a challenge for the new management team. “Externally, it’s still going to be tough,” said Parsons, sipping a glass of his 2004 Brunello Riserva as he sat outside a stone house set on an ancient trail from Frankfurt to Rome. “To some extent, the regulatory/political community is still almost at war with the big banks.” Nelson Rockefeller introduced Parsons to fine wines. He plans to turn the hobby into a profitable business by doubling production of red wines that retail in the U.S. for as much as $130 a bottle. Parsons Sipping Red Wine Calls Pandit Exit ‘Appropriate’ [Bloomberg] Earlier: Vikram Pandit And Citigroup Not Yet On Same Page Re: Who Dumped Whom; Zen Gardens That Never Were: Vikram Pandit Doesn’t Have To Put Up With This Shit Anymore