Great News for Citigroup Employees!!
Citigroup now employs about 1880 people in Delaware.(source: NJ) I’m sure they are all high-fiving each other today. This is great news.
Citigroup said Friday morning that it lost $2.5 billion, or 54 cents a share, in the second quarter.
But the chief executive, Vikram Pandit, positioned the $2.5 billion loss as progress. Last quarter, the financial conglomerate lost $5.1 billion.
“We cut our second-quarter losses in half compared to the first quarter,” Mr. Pandit said in a statement. “While there is still much to do, we are encouraged by our progress.” – via Eschaton
At this rate they will only lose $1.25 billion next quarter! Awesome!!
I gained 15 pounds last year. This year, I only gained 7. I’m losing weight!!!
Oh, that’s wonderful! Finally Republicans like Charlie Copeland have some good news on which to campaign….. Their philosophy is finally justified as being the right one all along………………………………
Deregulating unsecured securities was absolutely the right way to go. Hats off to Phil Gramm, McCain’s most senior financial adviser…….for getting that piece of legislation through Congress without debate……..
This good news will hurt Obama because Gramm will make sure McCain’s economic policy follows along the same trends……..
America should consider itself lucky to have someone like Phil Gramm steering our future course…….