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WSO Free Modeling Series - Now Open Through
April 30, 2024
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
Nothing, they just gave me a job lol. They are fine/will be fine. 3 trillion dollars in assets. Biggest bank in the world. All the banks are getting crushed. Goldman used to trade at 200+ dollars per share-they hit 60 today at their low. everyone is hurting
HSBC is bigger than Citigroup. Also, assets don't matter as much as market capitalization and cash on hand. If they're out of cash, they're screwed, but Citi will not face that problem.
from a market cap standpoint they do look healthy although why would you look at that over enterprise value if you want to get a true valuation of the company? I mentioned assets only if they had to liquidate which they wont have to do...pandit would rather fire thousands before that would ever happen
Frankly, it's just a poorly run company. Vikram has some yoke on his face since the Wachovia mess and when Chevy Chase bank is your consolation prize, it doesn't bode well for the stock.
http://www.nytimes.com/2008/11/14/business/14place.html?_r=2&ref=busine…
http://www.marketwatch.com/news/story/Citigroup-slashing-jobs-raising-card/story.aspx?guid=%7BB84C542E-4153-48FF-9497-E406C01EC9DA%7D
"Citi's global staff stands at about 352,000 now, and the firm has a target to trim that to about 290,000 by next year, the report said, citing a person familiar with the company's plans."
Major reductions in workforce in the next few months.
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