Citi Guys Slams Sysco

In NY Mag, a Citigroup exec slams the unwashed masses:

“No offense to Middle America, but if someone went to Columbia or Wharton, [even if] their company is a fumbling, mismanaged bank, why should they all of a sudden be paid the same as the guy down the block who delivers restaurant supplies for Sysco out of a huge, shiny truck?” e-mails an irate Citigroup executive to a colleague.

Two things: First, saying “no offense but” is not an excuse to be offensive.
Secondly, and for the record, you could have bought Sysco (SYY) 35 years ago for $21-1/8. Today, the stock is at $22.30.
Oh, did I mention the splits totaling 144-for-1?
Let’s just say that Citigroup hasn’t been as strong a performer.

Posted by on April 20th, 2009 at 1:12 pm


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