OneMain Purchase
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cutomorrow

Fort Wayne, IN

#1 Jul 7, 2011
Anyone hearing anything on the purchase of OneMain and what it means for employees?
Sale is sooner than later

Rockdale, TX

#2 Jul 7, 2011
By Donal Griffin

Bloomberg News

Billionaire Warren Buffett has joined a group bidding for Citigroup's consumer-lending unit, said two people with knowledge of the talks.

Buffett's Berkshire Hathaway has teamed with Centerbridge Partners Llc. and Leucadia National Corp. to bid for OneMain Financial, formerly known as CitiFinancial, said the people, who spoke on the condition of anonymity because the talks with New York-based Citigroup are private. Citigroup CEO Vikram Pandit tagged CitiFinancial and other troubled holdings for sale after the bank's $45 billion bailout in 2008. The unit's pretax losses since 2009's second quarter total about $1.3 billion, and people briefed on the bidding said the bank valued the unit at about $2 billion, net of liabilities.

In 2000, Citigroup acquired Irving-based Associates First Capital Corp., another consumer lender. Associates had about 8,000 North Texas employees at the time, but Citigroup quickly cut about 2,000 of those jobs after the acquisition.
cutomorrow

New York, NY

#3 Jul 8, 2011
Days? Months? I have been reading the updates and it now seems that Citi will be holding on to some assets... Wondering if that points towards branch consolidations and closing b/c of the lower outstandings. Really just want to know for sure! It has been such a long process!
intheknow

Brooklyn, NY

#4 Sep 4, 2011
No one will buy OneMain. It is too risky with Obama in the White House. The day of finance companies and payday loan companies are numbered. It is just a matter of time.
wouldliketoknow

United States

#5 Sep 7, 2011
Has anyone heard about the sale? I know a.d's were on n.y for a meeting a couple weeks ago
Julie

AOL

#6 Sep 7, 2011
We would all like to get away from the Micro management, they spend more time on reviews, than anyone I've ever seen! Dm's need more offices. They need to stop asking for so much.
former

Rochester, MI

#7 Sep 10, 2011
They always bragged how there structure with a dm for every five or six office was the proper approach. Seeing all the loses I don,t think so. DM should handle 15 offices with emphasis on reviews and training. Audit should handle seeing policy being followed and Manager should manage.
Main Conern

United States

#8 Sep 11, 2011
I am currently still with One Main Financial and I am holding on hope that whoever buys is does it soon!! I also hope whoever gets us will have some ethics and stop asking us to do questionable things with risk of losing our jobs if we dont . The pay is getting worse the bonus structure all but non existant and the expectations have skyrocketed. A branch's moral is based on how high in the rankings your DM is and if he/she isnt close to the top then you can bet the poor hardworking staff members and managers are taking a verbal and threatening lashing. I have been here for YEARS and know Fast Tracker employees making more than me to start off,whats whrong with that picture ???I was a true die hard supporter of this company/family type atmosphere when Marge and Bob were here and when the co. booted them we turned into a number crunching abusive company with no care for our customers or employees or appreciation for the long hours,blood ,sweat and tears with every month end and nomatter how much you give or how hard you work your DM will bypass the good and brow beat you for the one goal you didnt hit . I am now miserable and have been holding on for the sale just hoping things will get better but I may be fooling myself . I ask all employees "What happened to our FAMILY"? I'm not sure I cn hold out much longer and in the past we were all excited for our annual evaluations and raises . The DM's have been instructed that NOONE will get a 1 rating the concensus is nearly ALL managers will get a 3-4 period end of story . Since the economy is bad and as a direct result we do less business and have higher dlq then it must be the "lazy" managers fault ,we arent doing are jobs . I may not be able to spend another 20 years where Im just a number .
Still here

Sioux City, IA

#9 Sep 12, 2011
I agree that the DM's should be given more territory. I also think they need to get the computer programmers working to get things right. If the system was better, the number of audit violations would diminish. The system should not allow audit violations and should print all forms needed (filled out)! It seems they could hire a great programmer who could fix the system for the cost of the DM's not needed if they did not have to travel and do audits all the time.
unknown

Augusta, GA

#10 Sep 23, 2011
Main Conern wrote:
I am currently still with One Main Financial and I am holding on hope that whoever buys is does it soon!! I also hope whoever gets us will have some ethics and stop asking us to do questionable things with risk of losing our jobs if we dont . The pay is getting worse the bonus structure all but non existant and the expectations have skyrocketed. A branch's moral is based on how high in the rankings your DM is and if he/she isnt close to the top then you can bet the poor hardworking staff members and managers are taking a verbal and threatening lashing. I have been here for YEARS and know Fast Tracker employees making more than me to start off,whats whrong with that picture ???I was a true die hard supporter of this company/family type atmosphere when Marge and Bob were here and when the co. booted them we turned into a number crunching abusive company with no care for our customers or employees or appreciation for the long hours,blood ,sweat and tears with every month end and nomatter how much you give or how hard you work your DM will bypass the good and brow beat you for the one goal you didnt hit . I am now miserable and have been holding on for the sale just hoping things will get better but I may be fooling myself . I ask all employees "What happened to our FAMILY"? I'm not sure I cn hold out much longer and in the past we were all excited for our annual evaluations and raises . The DM's have been instructed that NOONE will get a 1 rating the concensus is nearly ALL managers will get a 3-4 period end of story . Since the economy is bad and as a direct result we do less business and have higher dlq then it must be the "lazy" managers fault ,we arent doing are jobs . I may not be able to spend another 20 years where Im just a number .
I couldn't have said it any better
unknown

Augusta, GA

#11 Sep 23, 2011
I couldn't have said it any better
Really

Arlington, VA

#12 Nov 30, 2011
What is up with these rediculous books ??? Just give us a bonus or something! Between the sale and symphony and this silly we are the people campaign, I am going to pull my hair out....
just do something

Arlington, TX

#13 Nov 30, 2011
thank you everybody just looked at those books like "are you kidding" these people are clueless!!!!!!!!!
Employee

Montgomery, TX

#14 Dec 6, 2011
just do something wrote:
thank you everybody just looked at those books like "are you kidding" these people are clueless!!!!!!!!!
Wow-you don't like goodness in the world or just sour you aren't in the book?
Employee

Montgomery, TX

#15 Dec 6, 2011
wow, you dont like goodness in general or just pissy with your ownself?
I think the book highlighted alot of great people and great things.
Dont like it? Easy-ship it back.
Concerned

Mason, OH

#16 Dec 7, 2011
Employee wrote:
wow, you dont like goodness in general or just pissy with your ownself?
I think the book highlighted alot of great people and great things.
Dont like it? Easy-ship it back.
You must be a new employee...
whoknew

United States

#17 Dec 7, 2011
Never seen things so somber with DM's. No excitement, no trying to motivate employees, no motivation, period.
Heck, most often times, the DM won't even respond to your emails.
skid mark

United States

#18 Dec 7, 2011
Has anyone heard that some branches were notified that they were being closed and had through December to get packing and transfers done?

Since: Jun 11

Location hidden

#19 Dec 8, 2011
I haven't heard of any branch closings. Where did you hear that SkidMark? Were you told which branches?
When Elephants Fly

Arlington, TX

#21 Jan 6, 2012

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