Thoughts and Riches

.....a blog about personal finance, motivational stories, deals, and special offers

Books

Web Domain Registration

Saturday, November 03, 2007

On top one moment, out another - the fleeting success

The Wall Street Journal blog post talks about how CIBC research analyst, Meredith Whitney’s downgrade of Citigroup on last Thursday helped spark selloff on the Wall Street.

As per Whitney, Citigroup may have to cut its dividend to strengthen its finances. Her downgrade of Citigroup came at a time when the market is already jittering due to subprime issues, lower Q3 earnings and other problems. With the Citigroup's CEO, Chuck Prince, already under pressure from various investor groups and other stakeholders, this downgrade probably served as the last straw that's expected to lead to his departure from Citigroup, as the WSJ reported yesterday:

WSJ.com: Citigroup CEO Plans to Resign As Losses Grow

Earlier, Merrill Lynch's former-CEO, Stanley O'Neal was also forced out, and many people are going after the CEOs at other financial firms as well. It's ironic that one moment you may be a very powerful person at the top of the world, while the next moment, every thing could fall apart. That's why it's important to not let success inflate your ego as the crown you are wearing today will be worn by someone else in future. Rather, enjoy success and use it to achieve greater success in other endeavors while being grateful for all the blessings that it brings your way.

For complete post, see:

WSJ.com: The $369 Billion Analyst

Learn how eBay works eHealthInsurance - FREE Instant Quotes!

posted by Ruby @ 8:19 AM

0 Comments:

Post a Comment

<< Home

See important Disclosure and Disclaimer

Favorite Quote

"If you look at what you have in life, you will always have more. If you look at what you do not have in life, you will never have enough".
- Author Unknown

Disclosure

This site uses cookies from companies like Google and others to enable the companies to deliver their services, personalize their ads and product offerings, and for traffic analysis. Information about your use of this site is shared with these companies. By using this site, you agree to its use of cookies. Additionally, this site, including blog posts, may contain reviews, links, banners, text and other forms of advertisements for products, services, courses, and so forth of companies of which we may be an affiliate member or for which we may get paid for referrals. This site may also contain blog posts for which we are paid, as well as blog posts regarding products or services of companies from which we may have received complimentary products or services.

Reward Surveys/Panels/Shopping/Contests