How they do--ruthless.

[No Elephants]

Citi Chairman Is Said to Have Planned Chief’s Exit Over Months
By JESSICA SILVER-GREENBERG and SUSANNE CRAIG
Published: October 25, 2012

Vikram Pandit’s last day at Citigroup swung from celebratory to devastating in a matter of minutes. Having fielded congratulatory e-mails about the earnings report in the morning that suggested the bank was finally on more solid ground, Mr. Pandit strode into the office of the chairman at day’s end on Oct. 15 for what he considered just another of their frequent meetings on his calendar.

Instead, Mr. Pandit, the chief executive of Citigroup, was told three news releases were ready. One stated that Mr. Pandit had resigned, effective immediately. Another that he would resign, effective at the end of the year. The third release stated Mr. Pandit had been fired without cause. The choice was his.

The abrupt encounter, described by three people briefed on the conversation, included a terse comment by the chairman, Michael E. O’Neill: “The board has lost confidence in you.”

A stunned Mr. Pandit chose to resign immediately. Even though Mr. Pandit and the board have publicly characterized his exit as his decision, interviews with people close to the board describe how the chairman maneuvered behind the scenes for months ahead of that day to force Mr. Pandit out and replace him with Michael L. Corbat, the board’s chosen successor.

http://www.nytimes.com/2012/10/26/business/citi-chairman-is-said-to-have-planned-pandits-exit-for-months.html?_r=0&adxnnl=1&ref=business&adxnnlx=1351506365-UxC8ltxPru4bwGM4sXeQBg

Pandit's second in command got almost identical treatment.

If that is how they treat their own, do you think they have any worries about what they do to you?



:nopity: (The DU name for that emote being "nopity.")


Before I feel too bad for either of them, I would like to do what their compensation was as they were running the company in a way that did not satisfy the board.

[Enthusiast]

1. "Any worries about what they do to you?"

I've known/felt this for a long time. That is what is so disturbing. And "They" are in control of the nation.

On the national stage we continue to pretend that poor people caused the economic mess we're in.

With the help of the corporate media, the nation pretends that Bush Administration malfeasance was just poor judgment because of a 9/11 terrorist strike. When, in fact, it was diabolical neo-con criminality from the day they stole the 2,000 election.

I suspect they have a continuation of "the final solution" in the cards. I don't think they will be able to continue the facade of democracy much longer.

"The illusion of freedom will continue as long as it's profitable to continue the illusion. At the point where the illusion becomes too expensive to maintain, they will just take down the scenery, they will pull back the curtains, they will move the tables and chairs out of the way and you will see the brick wall at the back of the theater."

"Government is the Entertainment division of the military-industrial complex."

— Frank Zappa

[No Elephants]

2. Someone else said that government is the public face of corporations.

Remember how long financial analysts, especially CNBC, tried to pretend that our financial crisis, caused by banks and the securities industry, was caused by too many plumbers, teachers, and secretaries pulling the wool over everyone's eyes when they applied for a home mortgage--"liar loans?"

I remember arguing that one for a long time with a DUer who was clearly a RWer and who did (finally) get banned. In fact, "Finally" was the very first post on the thread someone started to point out his departure.

IMO, The final solution is that almost everyone on the right is armed and almost everyone on the left is not. You see how brutal they got, even in cities run by Democratic Mayors, as soon as Occupy started.

Eighteen mayors, mostly Democratic, on a conference call with--wait for it--Homeland Security--as soon as they heard a sit in was planned. And the brutality of the initial reaction in cities from coast to coast is a big clue as to the advice that they got from the Department of Homeland Security of a Democratic administration.


ETA: It does not take too much imagination to spin out a final solution scenario.

Several years ago, I read how Big Food was buying up all the farm-able land around the world. More recently, I read how they are buying up--wait for it--water. As global warming increases, those things, of course, will be in shorter and shorter supply, so they will be able to charge whatever they want.

At some point, people will be seeing their children and spouses die because they don't have enough money to feed them.

When that happens, people will finally rise up. And that is where the first part of this post comes in.

[Enthusiast]

3. Oh, it's an ugly scene, man.

And the baby boomers better get their greedy, selfish asses ready cause they (we) are center stage. What is wrong with us, wanting retirement and health security? Greedy!

[No Elephants]

4. No one would expect an insurance company to pay off on an insurance policy, would they?

Oh, wait....

:evilgrin: