Print
E-mail
Share
digg
Newsvine
Facebook
Stumble
Technorati
reddit
Fark
twitterFirm taking $1.5 billon charge
Monday, Dec. 23, 2002 | 11:18 a.m.
NEW YORK -- Citigroup, the nation's largest financial institution, will take a charge of $1.5 billion against its fourth-quarter earnings, much of it to cover the cost of last week's settlement with securities regulators and related lawsuits.
The announcement today was the first from the 10 commercial banks, investment banks and brokerage houses that agreed on Friday to pay millions in penalties to settle allegations that their stock analysts misled investors and that potentially valuable shares in initial public offerings were used to leverage future business.
Citigroup Chairman and Chief Executive Sanford I. Weill said he hoped the fourth-quarter charges would put the issues to rest.
"The year 2002 has been a very difficult one for our company and our industry," Weill said.
archive
- Most Read
- Discussed
- Most E-mailed
- Wonder drug for men no success story
- CityCenter: One man’s concept of a real city
- Man, 18, arrested for DUI in crash that kills woman, 24
- Notebook: UNLV prospect Polee likes what he sees, and hears, at the Mack
- Man fatally shot during robbery attempt of woman
- Bellfield tolls again for UNLV in 76-71 win over Louisville
- Pitino doesn’t consider loss to UNLV a total loss
- Palin has a way of bringing out the anger in people
- The ball’s in Reid’s court: Passing the public option
- Binion’s to close all 365 rooms, lay off 100 workers
Blogs
The Kats Report
Planet Hollywood's Thomas McCartney headed for Tropicana (3 Comments)
Elsewhere
LV woman robs Kentucky strip club, police say (2 Comments)
Las Vegas Sands' Hong Kong IPO flops
The Kats Report
Monday List: Top 13 Moments and Observations From Thanksgiving Weekend (2 Comments)
Politics: Ralston's Flash
Tarkanian: Reid is liberal, out of touch, rude, poisonously partisan and a know-it-all (5 Comments)
The Kats Report
Barry Manilow off to Paris: Two-year deal starts March 5 at Le Theatre des Arts (10 Comments)
Politics: Ralston's Flash
Ensign survives radio interview with no follow-ups; partial transcript below (3 Comments)
Calendar »
- 1 Tue
- 2 Wed
- 3 Thu
- 4 Fri
- 5 Sat
-
Grand opening of Vdara
Vdara | 10 a.m. to 11:59 p.m.
-
Dik Richie at Moon
Moon Nightclub | 10:30 p.m. to 11:59 p.m.
-
A Night to Honor Israel at the Cashman Theatre
Cashman Convention Center | 7 p.m. to 10 p.m.
-
Ladies night at Feelgoods
Feelgoods
-
Sin City Sinners at VooDoo Lounge
VooDoo Steak & Lounge
The Sun
Locally owned and independent for more than 50 years.
