| Citigroup CEO Vikram Pandit has a new plan to reorganize the company.
Unfortunately Citi is still projected to report to report its third
straight quarter in the red. Because the company is such a large
conglomerate spanning practically all areas of financial markets, they
have been hit particularly hard by the credit crunch and the ensuing
recession. His plan seems to hit familiar chords as some analysts
liken his plan to predecessor Charles Prince III improvements. Among
his suggestions are to promote growth and streamline the company by
cutting jobs. His plan has been met with mixed reviews by outside
commenter as well as senior management. It is left to be seen if Mr.
Pandit can steer Citi back to a profitable and stable standing, or if
like Mr. Prince, he will buckle under the challenge. |
