Citigroup CEO Vikram Pandit, who just butchered 4,200 jobs the other day for so-called expense management reasons, got about $26.7 million in stock (1.094 million shares) on January 22, 2008, according to the bank’s regulatory filings with the Securities and Exchange Commission. Vikram Pandit also received options on three million Citigroup shares, with strike prices ranging from […]
U.S. Presidential candidate Barack Obama trounced rivals Hillary Clinton and John Edwards in the Democratic primaries in South Carolina. Obama got 55% of the votes while Hillary secured 27% and Edwards 18%. Following his decisive victory in South Carolina, Obama said: Tonight, the cynics that said what began in the snows of Iowa was just an […]
Microsoft chairman Bill Gates and his wife Melinda Gates are giving $27 million through their charitable foundation to assist Indian farmers in developing micro-irrigation techniques. The grant is being routed through International Development Enterprises. The goal of the project is to assist up to 250,000 smallholder farm families—1.75 million people—in 14 states of India and boost […]
Struggling Citigroup’s new CEO Vikram Pandit has taken out his begging bowl to shore up the bank’s shaky financial foundation, going by today’s front page story in the Wall Street Journal (subscription required). The Journal piece suggests that Citi is looking to raise up to $10 billion and that Vikram Pandit is looking to the Middle […]
Time magazine has named Russian President Vladimir Putin its Person of the Year for 2007. Good choice, indeed. Like Professor Samuel Huntington, we believe without order there can be no civil society. After the chaos of the Gorbachev and Yeltsin eras, Putin has ushered in order, stability and prosperity (helped by high oil prices) for […]
Struggling financial services conglomerate Citigroup named Vikram Pandit, 50, as its new CEO and board member effective immediately. Vikram Pandit, who hails from Nagpur in India, was most recently Chief Executive Officer of Citigroup’s Institutional Clients Group, which comprises Citi Markets & Banking and Citi Alternative Investments. For his new job as Citi CEO, Vikram […]