CHINESE NEW YEAR

HAPPY NEW YEAR to our ASIAN FRIENDS !!

Xin Nian hao!!

year begins on 1/26/2009

First Day of the Year of the Ox falls on 1/26/2009

Chinese New Year By the Chinese Calendar2009

is the Year of the Ox,

which is also known by its formal name of Ji Chou

new Citigroup Chairman

is President OBAMA for something in this appointment ??

Richard Dean Parsons was born in Brooklyn, New York on April 4, 1948.

He is the chairman-designate of Citigroup and the former Chairman and CEO of Time Warner.

He stepped down as CEO of Time Warner on December 31 2007 [1].

Parsons graduated from the University of Hawaii; at 6'4" tall he played varsity basketball.

He earned a Juris Doctor from Albany Law School in 1971, coming top of his class.

Parsons, who is a prominent moderate African American Republican,[2] served an internship at the New York State Legislature, at which time he was invited to work as a lawyer for the staff of the then New York Governor Nelson Rockefeller.

When Rockefeller was appointed Vice President of the United States, in 1974, Parsons followed him to Washington D.C., where he worked directly with President Gerald Ford.

He also met a deputy attorney general, Harold R. Tyler, and one of his aides, a young Rudolph W. Giuliani, with whom he was to be closely associated - supporting him in his campaign for New York mayor and heading his transitional council.[3]

In 1977, Parsons returned to New York and became a partner after only two years at the Patterson, Belknap, Webb & Tyler law firm; Working at the firm was Giuliani.

During his eleven years at the firm he took on Happy Rockefeller, the widow of Nelson (who had died in 1979) as a high-profile client.[4]

In 1988, he was recruited to serve as chief operating officer of the Dime Bank by Harry W. Albright Jr., who was a former Rockefeller aide. He later became chairman and CEO[3] and oversaw a merger with Anchor Savings Bank; gaining a substantial sum when the Dime Bank was demutualized.

Three years later, in 1991, on the recommendation of Nelson's brother Laurance Rockefeller to the then CEO Steven Ross, Parsons was invited to join Time Warner's board; he subsequently became president of the company in 1995, recruited by Gerald Levin.[3] He helped negotiate the company's merger with America Online in 2000, creating a $165-billion media conglomerate.

In December 2001, it was announced that chief executive Gerald Levin would retire and Parsons was selected as his successor. The announcement surprised many media watchers who expected chief operating officer Robert Pittman to take the helm.

In 2003, Parsons made the announcement of the name change from AOL Time Warner to simply Time Warner.[4]

It was announced on January 21 2009 that Parsons would become chairman of Citigroup on 23 February 2008.[5]

see ref.: http://en.wikipedia.org/wiki/Richard_Parsons

Rubin Leaving Citigroup; Smith Barney for Sale

Rubin Leaving Citigroup - Smith Barney for Sale

have a look at: http://www.nytimes.com/2009/01/10/business/10rubin.html?_r=1

for details ....

here is one comment:

from : citialum-bounces@woodbridgedata.com [mailto:citialum-bounces@woodbridgedata.com] from bobC

sent : sunday 11 january 2009 03:01

to : citialum

Re: [Citialum] NYTimes.com: Rubin Leaving Citigroup; Smith Barney for Sale

As far as I'm concerned Rubin raped the Bank for the last 10 years and now that they've stopped ALL compensation, stocks, bonus, salary for everyone he's pulling the plug.

What a hero! He ruined the Bank and now he's headed back to the Federal Govt. where he can continue providing the sterling advice he's given the bank for the last ten 10 years.

EXPLETIVE!

another comment in complement to this one:

It is amazing how an idiot and an empty person like Rubin was able to bullshit everyone around him in the past 20 years. He sold them worthless and sometimes destructive advise in return for millions of dollars. There is something wrong with our system!

Bonus 2008 !

good point !

Citigroup Inc.'s chief executive and chairman agreed to take no bonuses for 2008,
the latest sign that regulators are keeping the New York company on a tighter leash following its massive government bailout.

As Citigroup and the Treasury Department formalized details of the rescue plan, Citigroup announced Wednesday that Vikram Pandit, the bank's chief executive, Chairman Win Bischoff and Robert Rubin, a director and senior counselor, would forego annual bonuses.

Bonuses for other top executives will be "reduced substantially," Mr. Pandit said in an employee memo.

Citigroup, which has received $45 billion in federal capital infusions and a government-financed arrangement