Citigroup CEO Vikram Pandit is stepping down. In a statement released Tuesday morning, he said the time was right for someone else to take the helm. Pandit, who is 55 years old, took the top spot at Citi in December of 2007, just as the financial crisis was beginning to unfold.
The home care workforce — some 2.5 million strong — is one of the nation's fastest growing yet also worst paid. Turnover is high, and with a potential labor shortage looming as the baby boomers age, there are efforts to attract more people to the job.
America's student loan debt is more than one trillion dollars, according to government agencies. Now, a former professor says high schools and colleges need to do more to help students manage their debt load. Host Michel Martin speaks with writer Laura McKenna about her online op-ed for The Atlantic.
Originally published on Tue October 16, 2012 9:41 am
Credit Spencer Platt / Getty Images
Vikram Pandit, the chief executive officer of Citigroup, has stepped down, the company's board announced today.
"The Board also announced it has unanimously elected Michael Corbat CEO and a director of the Board," Citigroup said in a statement. "Mr. Corbat previously served as Citigroup's CEO of Europe, Middle East and Africa."
Good morning. I'm Renee Montagne. Nearly 700 years after he ruled the Mali Empire, King Mansa Musa has been awarded the title of richest person in history. Personal fortune: $400 billion. That's according to a new inflation-adjusted list compiled by Celebrity Net Worth. West Africa's salt and gold were the source of Musa's great wealth, which he used to build magnificent mosques. More modern names on the list: The Rothchilds and John D. Rockefeller. It's MORNING EDITION. Transcript provided by NPR, Copyright National Public Radio.
Bank of America will release quarterly earnings tomorrow and once again, foreclosures will be part of the equation. The Charlotte-based bank's role in the 2008 housing crash has landed it on a fair number of lists of most hated institutions in America.
But, as Julie Rose of member station WFAE in Charlotte discovered, some of those most involved in cleaning up the aftermath of the foreclosure crisis are beginning to soften toward the bank.