Citigroup said to weigh giving up con...

Citigroup said to weigh giving up control of Phibro

There are 8 comments on the Connecticut Post story from Aug 11, 2009, titled Citigroup said to weigh giving up control of Phibro. In it, Connecticut Post reports that:

Citigroup Inc. may give up control of its Westport-based Phibro LLC energy-trading business to outside investors, a person familiar with the matter said, as the bank faces what may be a $100 million payday for the unit's chief, Andrew Hall.

Join the discussion below, or Read more at Connecticut Post.

TruAmerican

Sandy Hook, CT

#1 Aug 11, 2009
This P O S immensly profited from $4 a gallon a gas. He screwed all of us motorists.

This guy shouldn't get $100 million in compensation. He should be tarred, feathered, and run out of town on a rail by everyone who suffered through the gas prices of last summer. We the People need to take a stand against yuppie trash like this who line their pockets at the expense of everyone else's.
Mike

Arlington Heights, IL

#2 Aug 15, 2009
As long as he's earning money for the bank, and in turn the shareholders, more power and compensation to the man.
Let Citicorp Fail

United States

#3 Aug 15, 2009
Mike wrote:
As long as he's earning money for the bank, and in turn the shareholders, more power and compensation to the man.
Hey idiot, the bank owes the US a crapload of money. We have first dibs, I could care less how important he thinks he is.
lisa

AOL

#4 Aug 16, 2009
yep same problem as with the health insurance companies, drug makers, and doctors, they are making tooo much money, living toooo oppulant of lifestyles and they dont want to give up the money. Citi owes all of america, because they needed to borrow money for making bad(sub prime) loans. They owe, therefore they shouldn't be able to hand out any ridicoulous bonuses.
lisa

AOL

#5 Aug 16, 2009
no one is worth this amt of money,noone.
AVA

Spartanburg, SC

#6 Aug 16, 2009
TruAmerican wrote:
This P O S immensly profited from $4 a gallon a gas. He screwed all of us motorists.
This guy shouldn't get $100 million in compensation. He should be tarred, feathered, and run out of town on a rail by everyone who suffered through the gas prices of last summer. We the People need to take a stand against yuppie trash like this who line their pockets at the expense of everyone else's.
It is outrageous that after the American people had to pay through the nose for gasoline he gets this exorbitant amount of compensation..it is not fair !
Bryan

Chandler, AZ

#7 Aug 16, 2009
lisa wrote:
yep same problem as with the health insurance companies, drug makers, and doctors, they are making tooo much money, living toooo oppulant of lifestyles and they dont want to give up the money. Citi owes all of america, because they needed to borrow money for making bad(sub prime) loans. They owe, therefore they shouldn't be able to hand out any ridicoulous bonuses.
Its really funny to me to hear that the Big banks got us into the financial mess we are in considering. That us as American's borrowed bank money to purchase property we honestly could'nt afford and then turn around and walk away and then blame the banks for lending us the money in the first place how owes how here. The blame is with us writting checks our bodies can't cash. As for Citi group the money they borrowed is more of an investment than anything now and as far as I know the Gov. has made about 5 billion as of the stock price today. Not bad for six months, After sept 10 the goverment has the option to sell it stake in citi do us all a favor and do so, we know how great the gov. manages our money, fannie & freddie, social security, AIG. etc. etc what a joke.

Remember whats worth doing is worth doing for MONEY.
Mosiac

Fort Worth, TX

#8 Aug 17, 2009
The issue is not seeing Citi give up its stake in Philbro, it is with the management team that allowed one person to make $100 million dollars in a year.

First, anyone at Citi or ANY company that Citi has an interest in should be limited to $1 million a year in compensation and they should be required to give back any excess comp made during 2008.

Second, the execs who agreed to this compensation arrangement should be fired and held criminally liable. Shiela Barr, where are you? Tim Geitner certainly isn't going to do this.

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