Michael Gracie » Vikram Pandit http://michaelgracie.com Clever Tagline Unavailable At Publication Time Tue, 02 Dec 2008 19:53:44 +0000 http://wordpress.org/?v=2.6 en Citigroup to shed $500B in assets http://michaelgracie.com/2008/05/09/citigroup-to-shed-500b-in-assets/ http://michaelgracie.com/2008/05/09/citigroup-to-shed-500b-in-assets/#comments Fri, 09 May 2008 15:07:25 +0000 Michael Gracie http://michaelgracie.com/2008/05/09/citigroup-to-shed-500b-in-assets/

Some might say “ouch” over a 23% reduction in size. But shedding non-core and/or underperforming assets is part of Turnaround 101. I wouldn’t be surprised if CEO Vikram Pandit’s plan works.

Shrinking isn’t necessarily bad.

UPDATE: Forbes - “The bank’s new chief begins the slow, painful job of undoing his predecessor’s work.”

No pain, no gain?

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