Citigroup Is Said to Be Raising Pay for Workers....CNBC

more losses at citi. So much for all that pay...

>> Good news, bad news at Citigroup
Second-quarter results at Citigroup Inc. beat analyst forecasts but stripping out a gain from the sale of Smith Barney, Citi had an operating loss of loss of nearly 27 cents a share.
http://www.crainsnewyork.com/article/20090717/FREE/907179997/1048

A lot of Citibank bankers bought stock earlier this year below $2. So not bad there.

Citi is going to be paying anything besides stock this year now that RBS and Lloyds arent paying cash.

As soon as the government compensation guidelines came out citibank started a massive hiring spree. They were basically told you have the green light to hire as many people you want as long as comp is under 500K. The banks knew how to read into the announcement.

The point of biggest debate will be the cutting of cash salaries, which are expected to hold below $500,000. Instead, employees will receive what has become known as "salary stock" -- long-term stock grants in lieu of cash that can't be touched for at least four years. Employees could receive a lot of these grants in the next two months because Mr. Feinberg wants them issued in 2009