Citibank to lay off 50,000 workers....... - Page 2

Timmy® · 11-17-2008, 11:57 AM

The real problem is middle managers through executive officers making too much cash. The top twenty percent of this country lives like the top one percent in other countries. Too many people with the giant homes in the burbs. It was all eventually going to crash. This place was, and still is, Disneyland. The party's over.

Time for businesses to adopt pay scales of other industrial countries. They might want to channel some of the money used for advertising into research and development too. How about offering good products instead of trying to convince us with stupid commercials.

This is gonna hurt for years.

Roger Vick · 11-17-2008, 12:01 PM

[QUOTE=hendu24;2867069]on getting laid off? thanks[/QUOTE]

No, on surviving the cuts at CitiGroup.

jets80 · 11-17-2008, 12:01 PM

[QUOTE=jetsfan1983;2866781]Layoffs are usually a way to get rid of the loser workers anyway. I do feel for the competent people that lose their jobs though.[/QUOTE]

:eek:..wow just wow..

Mikey Z 6 · 11-17-2008, 12:04 PM

[QUOTE=jets80;2867079]:eek:..wow just wow..[/QUOTE]

i think that guy is bitter, he must have been the first to go :yes:

hatnlvr · 11-17-2008, 12:05 PM

It's a shame the state our economy has come to! Hopefully the new administration can help turn things around and not force us deeper into the abyss.

hendu24 · 11-17-2008, 12:05 PM

[QUOTE=Roger Vick;2867076]No, on surviving the cuts at CitiGroup.[/QUOTE]

when i was there it was mainly a lot of higher ups that got retirement packages and they consolidated branches. That company has been in trouble for some time now,the last three quarters i was there they lost billions.

PatsFanTX · 11-17-2008, 12:06 PM

[QUOTE=hendu24;2867069]on getting laid off? thanks[/QUOTE]

Not to make light of the situation, but that was a damn funny comeback. :yes:

Roger Vick · 11-17-2008, 12:09 PM

[QUOTE=hendu24;2867087]when i was there it was mainly a lot of higher ups that got retirement packages and they consolidated branches. That company has been in trouble for some time now,the last three quarters i was there they lost billions.[/QUOTE]

How'd the company you went to do?

hendu24 · 11-17-2008, 12:11 PM

[QUOTE=Roger Vick;2867097]How'd the company you went to do?[/QUOTE]

went to do landmen work,it was twice the money but not stable at all..and now since the oil companies are losin their behinds,lay offs are starting..so the company is doin fine, just not all the contracted employees..

Mainejet · 11-17-2008, 12:14 PM

[QUOTE=chesapeakejet;2866978]How about AIG plans to pay Execs 500 Million in bonuses using the bailout money?[/QUOTE]

Exactly what I've been saying.

There should have been some conditions behind getting bailout money.

1) You must FIRE your CEO. If their in the position of needing a bailout then doesn't it make it rather clear that their CEO is incompetent and therefore should be FIRED?

2) ANYONE caught using the bailout money to pay bonuses to CEO's should GO TO JAIL. That is essentially leagalized embezzlement. A move of that nature would be no better than ENRON.

3) Their MUST be regulation in the mortgage industry. Deregulation is EXACTLY what got these companies into a heap of trouble in the first place, so we MUST regulate to fix it. As much as I HATE government involvement in ANYTHING, in this case it is a NECESSITY..........

Roger Vick · 11-17-2008, 12:15 PM

[QUOTE=hendu24;2867106]went to do landmen work,it was twice the money but not stable at all..and now since the oil companies are losin their behinds,lay offs are starting..so the company is doin fine, just not all the contracted employees..[/QUOTE]

You'll be allright.

No one's going to hire until January, though. So, start laying the groundwork, get your name out there, but don't expect any results in the next 60 days. Try to enjoy the time as much as you can. (I know, easier said than done.)

Big layoffs coming at Pfizer in the next week or so. Going to hurt CT bad.

PatsFanTX · 11-17-2008, 12:30 PM

[QUOTE=Mainejet;2867113]Exactly what I've been saying.

There should have been some conditions behind getting bailout money.

1) You must FIRE your CEO. If their in the position of needing a bailout then doesn't it make it rather clear that their CEO is incompetent and therefore should be FIRED?

2) ANYONE caught using the bailout money to pay bonuses to CEO's should GO TO JAIL. That is essentially leagalized embezzlement. A move of that nature would be no better than ENRON.

3) Their MUST be regulation in the mortgage industry. Deregulation is EXACTLY what got these companies into a heap of trouble in the first place, so we MUST regulate to fix it. As much as I HATE government involvement in ANYTHING, in this case it is a NECESSITY..........[/QUOTE]

You might want to consider moving.

[IMG]http://www.cnn.com/WORLD/europe/9909/14/moscow.explosion.03/russia.moscow.lg.jpg[/IMG]

hendu24 · 11-17-2008, 12:47 PM

[QUOTE=Roger Vick;2867117]You'll be allright.

No one's going to hire until January, though. So, start laying the groundwork, get your name out there, but don't expect any results in the next 60 days. Try to enjoy the time as much as you can. (I know, easier said than done.)

Big layoffs coming at Pfizer in the next week or so. Going to hurt CT bad.[/QUOTE]

yeah i have 4 more paychecks comin,so i should be ok. im startin to get my resume out and have looked at other land companies. Im due for a raise next month so im hopin to get called back to work.

C Mart · 11-17-2008, 12:52 PM

[QUOTE=jetsfan1983;2866781]Layoffs are usually a way to get rid of the loser workers anyway. I do feel for the competent people that lose their jobs though.[/QUOTE]

Wow! You are stupid!!

Jman21 · 11-17-2008, 01:05 PM

[QUOTE=GeorgeSauer;2866778]....while paying the Mets $20 million dollars a year for the naming rights to their new ballpark. Unbelievable!!!!!!!!!!!!!!!!!!!!![/QUOTE]
At the rate it's going they may not make their first payment on the sign.

nuu faaola · 11-17-2008, 01:42 PM

[QUOTE=GeorgeSauer;2866778]....while paying the Mets $20 million dollars a year for the naming rights to their new ballpark. Unbelievable!!!!!!!!!!!!!!!!!!!!![/QUOTE]

This is a pretty ignorant post.

Naming rights are just another form of marketing, and companies that are struggling need to spend money on marketing to attract more customers ... so they don't have to lay workers off.

The fact is, Citi bought itself a very prominent billboard that will get huge exposure in an important market for generations. Hardly a waste of money, imo.

Jman21 · 11-17-2008, 03:59 PM

[QUOTE=nuu faaola;2867239]This is a pretty ignorant post.

Naming rights are just another form of marketing, and companies that are struggling need to spend money on marketing to attract more customers ... so they don't have to lay workers off.

The fact is, Citi bought itself a very prominent billboard that will get huge exposure in an important market for generations. Hardly a waste of money, imo.[/QUOTE] Not so fast. Citi inked the largest naming rights deal to date. It's a moneygrab for the team/stadium. And it really hasn't been proven that stadium naming rights have convert to positive dollars. Lately it's been equivilent to the Si cover curse/jinx.

Enron Field
Proplayer
Adelphia Coliseum
Trans World Dome
Worldcom
Ameriquest

...to name a few. Public opinion is that there is more negative connected with naming rights these days than positive.

nuu faaola · 11-17-2008, 04:46 PM

[QUOTE=Jman21;2867554]Not so fast. Citi inked the largest naming rights deal to date. It's a moneygrab for the team/stadium. And it really hasn't been proven that stadium naming rights have convert to positive dollars. Lately it's been equivilent to the Si cover curse/jinx.

Enron Field
Proplayer
Adelphia Coliseum
Trans World Dome
Worldcom
Ameriquest

...to name a few. Public opinion is that there is more negative connected with naming rights these days than positive.[/QUOTE]

Sure there have been bad deals, but its no different than running a bad ad campaign on television. Companies have to market themselves to win customers. Citi is no different.

The idea that it is somehow outrageous that they are spending money on advertising while laying people off is pretty whacked. If they stopped advertising, they'd be laying a lot more people off before too long.

It's not like they spent the money on CEO bonuses.

Warfish · 11-17-2008, 04:57 PM

[QUOTE=Jman21;2867554]Not so fast. Citi inked the largest naming rights deal to date. It's a moneygrab for the team/stadium. And it really hasn't been proven that stadium naming rights have convert to positive dollars. Lately it's been equivilent to the Si cover curse/jinx.

Enron Field
Proplayer
Adelphia Coliseum
Trans World Dome
Worldcom
Ameriquest

...to name a few. Public opinion is that there is more negative connected with naming rights these days than positive.[/QUOTE]

+1

Sorry, but when you're that deep in, you don't drop this kind of money on a Stadium Deal. It's not liek Citi is some unknown entity who NEEDS exposure. They have plenty of exposure already.

I'm frankly suprised Stadiums still garner such silly deals. I doubt any has turned much of a profit for the name-buyer.

nuu faaola · 11-17-2008, 05:01 PM

[QUOTE=Warfish;2867674]+1

Sorry, but when you're that deep in, you don't drop this kind of money on a Stadium Deal. It's not liek Citi is some unknown entity who NEEDS exposure. They have plenty of exposure already.

I'm frankly suprised Stadiums still garner such silly deals. I doubt any has turned much of a profit for the name-buyer.[/QUOTE]

My understanding of the deal is that Citi has not increased its media and marketing budget, and that this deal simply spends dollars that would have otherwise gone to television, magazine or newspaper ads. All that stuff comes from the same budget.

11-17-2008, 11:57 AM	#21
Timmy® JI's own Reverend Jim. Hall Of Fame Join Date: Aug 2003 Location: Vermont Posts: 23,683	The real problem is middle managers through executive officers making too much cash. The top twenty percent of this country lives like the top one percent in other countries. Too many people with the giant homes in the burbs. It was all eventually going to crash. This place was, and still is, Disneyland. The party's over. Time for businesses to adopt pay scales of other industrial countries. They might want to channel some of the money used for advertising into research and development too. How about offering good products instead of trying to convince us with stupid commercials. This is gonna hurt for years.

11-17-2008, 12:01 PM	#22
Roger Vick Banned Join Date: Sep 2005 Posts: 9,533	[QUOTE=hendu24;2867069]on getting laid off? thanks[/QUOTE] No, on surviving the cuts at CitiGroup.

11-17-2008, 12:01 PM	#23
jets80 All League Join Date: Apr 2003 Location: Cocoa Beach, Fl Posts: 3,218	[QUOTE=jetsfan1983;2866781]Layoffs are usually a way to get rid of the loser workers anyway. I do feel for the competent people that lose their jobs though.[/QUOTE] :eek:..wow just wow..

11-17-2008, 12:04 PM	#24
Mikey Z 6 oOoOoOo All Pro Join Date: Jul 2007 Location: xxxxxxxxxxxxxxxxxxxxxxxx Posts: 5,551	[QUOTE=jets80;2867079]:eek:..wow just wow..[/QUOTE] i think that guy is bitter, he must have been the first to go :yes:

11-17-2008, 12:05 PM	#25
hatnlvr Jets Fan for Life! All Pro Join Date: Jul 2004 Posts: 5,271	It's a shame the state our economy has come to! Hopefully the new administration can help turn things around and not force us deeper into the abyss.

11-17-2008, 12:05 PM	#26
hendu24 All League Join Date: Apr 2003 Posts: 3,052	[QUOTE=Roger Vick;2867076]No, on surviving the cuts at CitiGroup.[/QUOTE] when i was there it was mainly a lot of higher ups that got retirement packages and they consolidated branches. That company has been in trouble for some time now,the last three quarters i was there they lost billions.

11-17-2008, 12:06 PM	#27
PatsFanTX JI Resident Troll Banned Join Date: May 2003 Location: Houston, TX Posts: 52,068	[QUOTE=hendu24;2867069]on getting laid off? thanks[/QUOTE] Not to make light of the situation, but that was a damn funny comeback. :yes:

11-17-2008, 12:09 PM	#28
Roger Vick Banned Join Date: Sep 2005 Posts: 9,533	[QUOTE=hendu24;2867087]when i was there it was mainly a lot of higher ups that got retirement packages and they consolidated branches. That company has been in trouble for some time now,the last three quarters i was there they lost billions.[/QUOTE] How'd the company you went to do?

11-17-2008, 12:11 PM	#29
hendu24 All League Join Date: Apr 2003 Posts: 3,052	[QUOTE=Roger Vick;2867097]How'd the company you went to do?[/QUOTE] went to do landmen work,it was twice the money but not stable at all..and now since the oil companies are losin their behinds,lay offs are starting..so the company is doin fine, just not all the contracted employees..

11-17-2008, 12:14 PM	#30
Mainejet impatiently waiting for the Jets to win the SB Hall Of Fame Join Date: Jul 2004 Posts: 12,056	[QUOTE=chesapeakejet;2866978]How about AIG plans to pay Execs 500 Million in bonuses using the bailout money?[/QUOTE] Exactly what I've been saying. There should have been some conditions behind getting bailout money. 1) You must FIRE your CEO. If their in the position of needing a bailout then doesn't it make it rather clear that their CEO is incompetent and therefore should be FIRED? 2) ANYONE caught using the bailout money to pay bonuses to CEO's should GO TO JAIL. That is essentially leagalized embezzlement. A move of that nature would be no better than ENRON. 3) Their MUST be regulation in the mortgage industry. Deregulation is EXACTLY what got these companies into a heap of trouble in the first place, so we MUST regulate to fix it. As much as I HATE government involvement in ANYTHING, in this case it is a NECESSITY..........

11-17-2008, 12:15 PM	#31
Roger Vick Banned Join Date: Sep 2005 Posts: 9,533	[QUOTE=hendu24;2867106]went to do landmen work,it was twice the money but not stable at all..and now since the oil companies are losin their behinds,lay offs are starting..so the company is doin fine, just not all the contracted employees..[/QUOTE] You'll be allright. No one's going to hire until January, though. So, start laying the groundwork, get your name out there, but don't expect any results in the next 60 days. Try to enjoy the time as much as you can. (I know, easier said than done.) Big layoffs coming at Pfizer in the next week or so. Going to hurt CT bad.

11-17-2008, 12:30 PM	#32
PatsFanTX JI Resident Troll Banned Join Date: May 2003 Location: Houston, TX Posts: 52,068	[QUOTE=Mainejet;2867113]Exactly what I've been saying. There should have been some conditions behind getting bailout money. 1) You must FIRE your CEO. If their in the position of needing a bailout then doesn't it make it rather clear that their CEO is incompetent and therefore should be FIRED? 2) ANYONE caught using the bailout money to pay bonuses to CEO's should GO TO JAIL. That is essentially leagalized embezzlement. A move of that nature would be no better than ENRON. 3) Their MUST be regulation in the mortgage industry. Deregulation is EXACTLY what got these companies into a heap of trouble in the first place, so we MUST regulate to fix it. As much as I HATE government involvement in ANYTHING, in this case it is a NECESSITY..........[/QUOTE] You might want to consider moving. [IMG]http://www.cnn.com/WORLD/europe/9909/14/moscow.explosion.03/russia.moscow.lg.jpg[/IMG]

11-17-2008, 12:47 PM	#33
hendu24 All League Join Date: Apr 2003 Posts: 3,052	[QUOTE=Roger Vick;2867117]You'll be allright. No one's going to hire until January, though. So, start laying the groundwork, get your name out there, but don't expect any results in the next 60 days. Try to enjoy the time as much as you can. (I know, easier said than done.) Big layoffs coming at Pfizer in the next week or so. Going to hurt CT bad.[/QUOTE] yeah i have 4 more paychecks comin,so i should be ok. im startin to get my resume out and have looked at other land companies. Im due for a raise next month so im hopin to get called back to work.

11-17-2008, 12:52 PM	#34
C Mart Jets Insider VIP Join Date: Sep 2003 Posts: 21,314	[QUOTE=jetsfan1983;2866781]Layoffs are usually a way to get rid of the loser workers anyway. I do feel for the competent people that lose their jobs though.[/QUOTE] Wow! You are stupid!!

11-17-2008, 01:05 PM	#35
Jman21 Veteran Join Date: Apr 2003 Posts: 1,773	[QUOTE=GeorgeSauer;2866778]....while paying the Mets $20 million dollars a year for the naming rights to their new ballpark. Unbelievable!!!!!!!!!!!!!!!!!!!!![/QUOTE] At the rate it's going they may not make their first payment on the sign.

11-17-2008, 01:42 PM	#36
nuu faaola All Pro Join Date: Apr 2003 Posts: 6,255	[QUOTE=GeorgeSauer;2866778]....while paying the Mets $20 million dollars a year for the naming rights to their new ballpark. Unbelievable!!!!!!!!!!!!!!!!!!!!![/QUOTE] This is a pretty ignorant post. Naming rights are just another form of marketing, and companies that are struggling need to spend money on marketing to attract more customers ... so they don't have to lay workers off. The fact is, Citi bought itself a very prominent billboard that will get huge exposure in an important market for generations. Hardly a waste of money, imo.

11-17-2008, 03:59 PM	#37
Jman21 Veteran Join Date: Apr 2003 Posts: 1,773	[QUOTE=nuu faaola;2867239]This is a pretty ignorant post. Naming rights are just another form of marketing, and companies that are struggling need to spend money on marketing to attract more customers ... so they don't have to lay workers off. The fact is, Citi bought itself a very prominent billboard that will get huge exposure in an important market for generations. Hardly a waste of money, imo.[/QUOTE] Not so fast. Citi inked the largest naming rights deal to date. It's a moneygrab for the team/stadium. And it really hasn't been proven that stadium naming rights have convert to positive dollars. Lately it's been equivilent to the Si cover curse/jinx. Enron Field Proplayer Adelphia Coliseum Trans World Dome Worldcom Ameriquest ...to name a few. Public opinion is that there is more negative connected with naming rights these days than positive.

11-17-2008, 04:46 PM	#38
nuu faaola All Pro Join Date: Apr 2003 Posts: 6,255	[QUOTE=Jman21;2867554]Not so fast. Citi inked the largest naming rights deal to date. It's a moneygrab for the team/stadium. And it really hasn't been proven that stadium naming rights have convert to positive dollars. Lately it's been equivilent to the Si cover curse/jinx. Enron Field Proplayer Adelphia Coliseum Trans World Dome Worldcom Ameriquest ...to name a few. Public opinion is that there is more negative connected with naming rights these days than positive.[/QUOTE] Sure there have been bad deals, but its no different than running a bad ad campaign on television. Companies have to market themselves to win customers. Citi is no different. The idea that it is somehow outrageous that they are spending money on advertising while laying people off is pretty whacked. If they stopped advertising, they'd be laying a lot more people off before too long. It's not like they spent the money on CEO bonuses.

11-17-2008, 04:57 PM	#39
Warfish JetsInsider.com Legend Join Date: Jan 2004 Posts: 35,000	[QUOTE=Jman21;2867554]Not so fast. Citi inked the largest naming rights deal to date. It's a moneygrab for the team/stadium. And it really hasn't been proven that stadium naming rights have convert to positive dollars. Lately it's been equivilent to the Si cover curse/jinx. Enron Field Proplayer Adelphia Coliseum Trans World Dome Worldcom Ameriquest ...to name a few. Public opinion is that there is more negative connected with naming rights these days than positive.[/QUOTE] +1 Sorry, but when you're that deep in, you don't drop this kind of money on a Stadium Deal. It's not liek Citi is some unknown entity who NEEDS exposure. They have plenty of exposure already. I'm frankly suprised Stadiums still garner such silly deals. I doubt any has turned much of a profit for the name-buyer.

11-17-2008, 05:01 PM	#40
nuu faaola All Pro Join Date: Apr 2003 Posts: 6,255	[QUOTE=Warfish;2867674]+1 Sorry, but when you're that deep in, you don't drop this kind of money on a Stadium Deal. It's not liek Citi is some unknown entity who NEEDS exposure. They have plenty of exposure already. I'm frankly suprised Stadiums still garner such silly deals. I doubt any has turned much of a profit for the name-buyer.[/QUOTE] My understanding of the deal is that Citi has not increased its media and marketing budget, and that this deal simply spends dollars that would have otherwise gone to television, magazine or newspaper ads. All that stuff comes from the same budget.