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Citi Weighs Its Options, Including Firm's Sale
WSJ ^
| 11/21/08
| DAVID ENRICH
Posted on 11/20/2008 7:33:37 PM PST by TigerLikesRooster
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Who is going to buy Citi?
To: TigerLikesRooster; PAR35; bamahead; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; ...
2
posted on
11/20/2008 7:34:06 PM PST
by
TigerLikesRooster
(kim jong-il, chia head, ppogri, In Grim Reaper we trust)
To: TigerLikesRooster
At this share price, Citi could be taken private tomorrow. It has $45 billion *per quarter* in cash flow from operations, in the worst financial climate in history. Buy in the whole thing and tell the shorts and CDS speculators to stuff themselves.
3
posted on
11/20/2008 7:36:14 PM PST
by
JasonC
To: TigerLikesRooster
So much for the “one stop shop” for everything financial and insurance. I remember when they were creating this Frankenstein. Sandy Weil cobbled it together and it never really worked other than as a collection of pieces. It should be broken up.
To: TigerLikesRooster
Wow, isn’t Citi a Rockefeller bank, incorporated from the original Manhattan Bank charter?
To: JasonC
If that happens, would it create another Porsche-Volkswagen flap? I am just curious.
6
posted on
11/20/2008 7:39:29 PM PST
by
TigerLikesRooster
(kim jong-il, chia head, ppogri, In Grim Reaper we trust)
To: TigerLikesRooster
Who is going to buy Citi?
The Bank of Uncle Sam, with headquarters in Washington D.C.
They've got loads of money (to print up).
7
posted on
11/20/2008 7:40:11 PM PST
by
Deo volente
(On January 20, 2009 America moves to DEFCON 2.)
To: TigerLikesRooster
So they are not going to sue my company anymore for $60 billion??
8
posted on
11/20/2008 7:41:18 PM PST
by
HereInTheHeartland
(I can't wait for January 20, 2013")
To: TigerLikesRooster
Bernanke loves to work on Sundays. I wonder if he is gonna buy it on Sunday.
9
posted on
11/20/2008 7:43:59 PM PST
by
BGHater
(The GOP, the new DNC.)
To: TigerLikesRooster
I was just looking at that. There are 138 million shares short that we know of. Options contracts might make that a round 200 million or so. But that is only about 4% of the company. For the amount squeezed from the shorts to equal the present market cap, the stock would have to recover to around $25. It is fairly worth $50 in normal times, but these aren't and it isn't worth $50 with the alternatives on offer, elsewhere.
But if I were them, I'd just start doing it, no announcements, no fanfare, no "here is how we will save the bank". Just start. In as little as 50 days, ever single share (not held by insiders if you like) could be retired. You could literally buy the entire thing before Obama is sworn in, even if it doesn't decline another penny. Without using a dime of money besides what the loan book in throwing off.
10
posted on
11/20/2008 7:44:50 PM PST
by
JasonC
To: TigerLikesRooster
>>>>>Who is going to buy Citi? <<<<<<
Maybe the Bank of China or China Merchants Bank. /semi-sarc
11
posted on
11/20/2008 7:48:50 PM PST
by
angkor
(Conservatism is not a religious movement.)
To: TigerLikesRooster
‘xcuse me, but i can’t get over the irony that citi was
angry at wells fargo for beating them out to buy wachovia.
12
posted on
11/20/2008 7:53:02 PM PST
by
ken21
(people die and you never hear from them again.)
To: TigerLikesRooster
13
posted on
11/20/2008 7:56:06 PM PST
by
B4Ranch
(("In politics, nothing happens by accident. If it happens, you can bet it was planned that way." FDR)
To: ken21
that was j.p.morgan/chase
14
posted on
11/20/2008 7:57:04 PM PST
by
MEpajamaMONSTER
(Growing old is mandatory; growing up is optional)
To: JasonC
Do you think there’s anyone smart enough there to think of this?
And could they do this without an SEC requirement of disclosure?
15
posted on
11/20/2008 8:05:35 PM PST
by
NVDave
To: MEpajamaMONSTER
16
posted on
11/20/2008 8:06:22 PM PST
by
ken21
(people die and you never hear from them again.)
To: TigerLikesRooster
Break it up into about 7 regional banks, a credit card division, and a real estate auction house. :)
17
posted on
11/20/2008 8:52:57 PM PST
by
RockinRight
(Now it's my turn to have a psychotic, uncontrollable hatred for the President.)
To: TigerLikesRooster
Then why are they trying to buy Chevy Chase Bank?
18
posted on
11/20/2008 8:53:09 PM PST
by
RockinRight
(Now it's my turn to have a psychotic, uncontrollable hatred for the President.)
To: TigerLikesRooster
This one has me down. I got in at 19+. the company has the assets and it looked like a hellofa bargain. Dang... I hope this turns around.
To: BGHater
They don’t have until Sunday. My guess the lines at the teller starts tomorrow. My guess a deal in the works tonight. I would not expect much since Lehman started at 2.00.
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