By Amey Stone
Citigroup is an grand combination of economic providers that has built through the years right into a attention-grabbing corporation. this can be the tale of the way all of it got here jointly from labor to merges and acquisitions. the firms development is really extraordinary and this can be one of many nice tales in smooth finance. when you are looking to get a feeling of the place funding and banking is headed sooner or later it is a nice place to begin. it's written in undeniable sufficient language that you just should not have to be a finance professional to appreciate it. when you are a finance specialist you will find the probabilities which are taking place and comprehend what the ramifications of every stream have been at the as a complete. rather well written and only a nice booklet as a rule.
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Extra resources for The King of Capital: Sandy Weill and the Making of Citigroup
As Winston Kulok, a high school friend, puts it, “Think about it. qxd 18 4/16/02 8:46 AM Page 18 K I N G O F C A P I TA L A Done Deal eill’s favorite response to inquiries about the co-CEO arrangement during the prior 16 months—“I’m a lot happier with John in the organization than not”—belied his ambition to run the company his way. To Weill, Reed and other managers of the former Citicorp must have stood as living symbols of fiscal laxness: a culture defined by ubiquitous and costly bank branches dotting the streets of major cities, excessive spending on experimental technologies, generous benefits, and few restrictions on business travel and expenses.
The purchase must have been a triumph. The large, two-family structure has a crow’s nest on the third f loor and a small front yard and a larger side yard. Throughout his career, Weill has kept a photo of his childhood home in his office. On February 27, 1926, Philip incorporated his company, P. Kalika, and named himself and three others as directors. Louis, now 24, joined his father in the business, as did two others, a married couple from Manhattan. ” The four directors divided 350 shares of common stock at $100 apiece, giving the company a value of $35,000.
Qxd 4/16/02 8:47 AM Page 43 The Best and Brightest middle-class Eastern European Jewish families headed by a typically self-employed father. Their parents spent long hours toiling as shopkeepers or cab drivers, and made it clear to their children that they were expected to go to college. Like Weill, many of these children were the first members of their family to do so. When Weill made the rounds of Wall Street after college in 1955, the older firms were clinging to power, and still weren’t a place of opportunity for outsiders.