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Get In On Sandy Weill's Blow-Out Sale Today

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For 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:

The 200-foot Feadship, named April Fool, can be yours for a mere $69.5 million. The boat has a huge master stateroom, a Jacuzzi on the fourth-level sun deck and a sprawling outdoor eating lounge. Weill has only had the boat about five years, after trading up from his previous, smaller yacht...Jonathan Beckett [the yacht broker that’s selling April Fool] declined any comment on the boat’s ownership or reasons for the sale. But he said April Fool is in pristine condition, since it “was rarely used and never chartered.” Feadships, he adds, are the “Rolls Royce” of yachts. It also has an elevator, which is rare for a boat of less than 250 feet.

If you miss out on this item, rest assured Weill's sheets and Ikea dressers will be put on the block next week.

Sandy Weill’s Yacht For Sale [The Wealth Report]


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The former Citigroup CEO has stepped down from his latest gig.

Vikram Pandit Not Feeling Sandy Weill's Break-Up The Banks Call

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]