Citi trailing its Wall Street rivals

Two years after clinging to a taxpayer bailout, Citigroup is still playing Wall Street laggard to its rivals.

One of Uncle Sam's biggest bailout recipents posted first-quarter results yesterday that offered some positive signs but suggested that the sprawling financial giant, run by CEO Vikram Pandit, still has much work to do.

"All revenue areas were weaker than expected except for securities and banking, which beat our estimate but did notCheap Rosetta Stone
improve as much as [its] peers," CLSA bank analyst Mike Mayo wrote in a research note yesterday.

Once the biggest US bank, Citi posted a $3 billion quarterly profit, or 10 cents a share, on the back of $19.7 billion in revenues -- a 22 percent decline versus a year ago.

The results edged out Wall Street forecasts of 9 cents a share. Citi shares closed at $4.42, unchanged.

However, some analysts said that much of Citi's improvement was based on some $3 billion in reserves against loan losses being released. Citi is planning on reinstating a 1 cent dividend next month after completing a 1-for-10 reverse stock split.

The bank's results marked its fifth consecutive profitable quarter.

"We've come a long way -- and we continue to move forward. I'm excited that Cheap Rosetta Stone Japanese
we are carrying 2010's strong momentum into this year," Pandit told employees in a memo.

However, Citi's performance in the business of advising on mergers, as well as the buying and selling of equity and debt securities is lagging its peers.

Citi performed the worst of its peers in the broader investment banking arena -- as revenues fell 27 percent to $875 million. That compares with a 5 percent skid in investment banking revenues at Bank of America and a decline of 3 percent at JPMorgan.

Citi was also outshined by peers in equity trading -- where BofA posted a 60 percent spike in first-quarter trading volume, to $1.2 billion, while JPMorgan saw trading jump 25 percent to $1.4 billion. Citi recorded a 22 percent increase, to $1.1 billion.

Citi continued to wind down a so-called "bad bank" of Cheap Rosetta Stone Korean
ancillary assets, which is $337 billion, down from nearly $500 billion last year.

Citigroup's Reverse Split Could Be Toxic For Investors

Citigroup's(C) plan for a reverse split was greeted with a chorus of boos, as investors frowned upon theCheap Rosetta Stone
bailed-out bank's use of a cosmetic change to artificially boost its stagnant share price from $4 to $40. Retail investors at home should jeer Citigroup's decision, too, but for different reasons.

In March, Citigroup announced plans for a 10-for-1 reverse stock split, which will propel the share price to above $40 by reducing the number of outstanding shares from 29 billion to less than 3 billion. Set to take effect May 6, Citigroup CEO Vikram Pandit contends that the reverse split, coupled with the reinstatement of a penny-per-share dividend "are important steps as we anticipate returning capital to shareholders starting next year."

On Monday, Citigroup reported a first-quarter profit of 10 cents a share, coming in a penny ahead of the average analyst estimate. However, Citigroup's $3 billion in net income was padded by a $3.3 billion reserve release in the quarter. Revenue of $19.7 billion also fell short of Wall Street's expectations.

Reverse splits are generally pooh-poohed by professional investors because nothing fundamentally changes with a company, even if retail investors believe the higher share price denotes an increase in quality. The only change is the number of shares outstanding and the price of each share, but value and earnings are not affected by the decision.

The one positive argument to be made for the reverse split is that many mutual funds have charters that restrict portfolio managers from buying stocks that trade below $5. The argument is that, post-split, Citigroup becomes anCheap Rosetta Stone Portuguese
investment candidate for many institutional buyers previously forbidden from owning the bank stock.

However, there are many reasons a reverse split is bad, and not just in Citigroup's case. Aside from appearing to be a move made out of desperation, stocks typically fail to perform well after a reverse split is enacted. According to a 2006 joint study conducted by students at NYU's Stern Business School and Emory's Goizueta Business School, more than 1,600 companies that conducted reverse splits underperformed the broader market by about 50%, on average, in the three years after the split.

Recently, though, companies have shown an ability to thrive with or without a reverse split. Both Priceline.com(PCLN) and troubled insurer American International Group(AIG) have rallied after their respective reverse splits.

Meanwhile, Sirius XM(SIRI), for which shareholders approved a reverse split after the satellite-radio company flirted with bankruptcy and possible delisting, has seen its stock price roar back by 1,000%. In Sirius XM's most recent shareholder proxy, a call for Cheap Rosetta Stone Spanish
a reverse split was notably absent, leading investors to believe it is officially off the table now.

RPT-UPDATE 1-True Finns set for govt, see EU bailout changes

The True Finns, the anti-euro party voted into
a powerful role in the Helsinki parliament at the weekend, expect the European
Union to change plans for a bailout of Portugal, its leader said on Monday.

"Of course there will have to be changes," Timo Soini told reporters a day
after his party more than Cheap Rosetta Stone
quadrupled its share of the vote to turn Finland's
traditionally pro-EU politics on their head by finishing a close third in the
election.

Soini said he expected to hear this week about joining talks on forming a
coalition. The centre-right National Coalition, which came top with 20.4
percent, should launch negotiations under its leader, the outgoing finance
minister Jyrki Katainen.

It remains unclear how farCheap Rosetta Stone Arabic
a new coalition, which may take weeks to form, will
incorporate True Finns ministers or their views on EU help for heavily
indebted member states. But the rise of the True Finns seems likely to shift
the debate.

"This is a big, big bang in Finnish politics. This is a big, big change. This
will change the content of Finnish politics," Jan Sundberg, professor at the
University of Helsinki, said.

Finland's parliament, unlike others in the euro zone, has the right to vote on
EU requests for bailout funds, meaning it could hold up costly plans to shore
up Portugal and bring stability to debt markets.

The strong showing for the populist True Finns reflects growing public
frustration in some EU states about footing the bill for weaker economies such
as Greece, Ireland and Portugal.

The party got 19.0 percent, according to compared to 4.1 percent in 2007,
which means it is likely to be involved in talks on forming a government. The
opposition Social Democrats, whoCheap Rosetta Stone Chinese
support the EU but dislike current plans to
aid Portugal, won 19.1 percent and are also likely to join government talks.

Prime Minister Mari Kiviniemi's Centre Party, hit by a political funding
scandal in recent years, suffered the biggest setback, dropping to just 15.8
percent of the vote from 23.1 percent in 2007. She said it would go into
opposition.

Soini predicted the next government coalition would consist of the three
biggest parties, and possibly a few others.

"We need a majority government. That seems to require maybe the three biggest
parties. If that doesn't work, then maybe it will be Cheap Rosetta Stone
a four to five parties
government," he told reporters.

Coachella 2011: The rise of a new generation

As the U.K. folk-revival quartet Mumford & Sons, all ofCheap Rosetta Stone Italian
whom are in their
early 20s, stared out on the 70,000 people or so gathered to watch their set
at the Coachella Valley Music & Arts Festival on Saturday night, they couldn't
help but remark on how much had changed for them. "In 2008, I was a punter
sneaking in here for Rage Against the Machine," one of the Mumfords' string
players cracked in disbelief.

That a kid could go from sneaking in the side gate to playing the main stage
at nightfall in a span of three years says everything about this year's
iteration on the 12-year-old desert bacchanal, the first in recent memory to
draw its star power mostly from artists who formed, grew careers and scaled to
the peak of their profession within the 2000s.

And taken with this year's new emphasis on keeping out gate crashers, easing
transportation in and out of the grounds, and keeping those inside entranced
with stages and light sculptures, the Cheap Rosetta Stone
weekend felt like it was competing for
the long-term loyalties of a generation that considers endless sensory
stimulation a necessity.

In fact, Coachella's been operating long enough now that it's helped rear
bands from buzz act to featured attraction. Arcade Fire expanded its fan base
tremendously during its first two Coachella appearances, in 2005 and 2007. In
February, the Montreal group shocked many Grammy watchers with an unexpected
album of the year award — but for most who had caught the band on the Polo
Grounds in years prior, such pomp was a forgone conclusion.

"There is a communal feeling here, backstage and out front," said singer PJ
Harvey, who performed at Coachella for the first time Sunday night. "A
combination of the two is needed, young and old. Everything informs each
other. The great artist's parcel gets handed down."

Whatever you think of Kings of Leon's blustery Tarzan rock, Arcade Fire's
gang-chorus earnestness or Kanye West's ambitions for hip-hop and high-end
furniture blogging, this much is undisputed about Coachella 2011: Roger Waters
was nowhere in sight, nor was his flying pig. There was no Paul McCartney set
(well, save for Macca's brief piggyback cameo with the dance producer
Afrojack).

While sitting on the grass during British art rock band Foals' electric set,
Jazz Brice of Laguna Beach underlined pages in a textbook for a paper due
Monday. The Pepperdine student described herself as a "Mumford & Sons
enthusiast" who had already seen them four or five times this year.

"This year's lineup is really strong," said Brice, 22. "It always seemed a bit
off to have Prince or Roger Waters. I mean, it's cool, but this feels more
generational."

Other second-billed acts such as the Black Keys, Bright Eyes and the Strokes
all caught their headwinds in the aughts too, and the hottest-tipped (but
ultimately fraught) set of the undercard came from the L.A. teenage rap posse
Odd Future Wolf Gang Kill Them All.

But it wasn't milk and honey forCheap Rosetta Stone Japanese
everyone. While many of the festival's
logistical problems had been eased (microchip-embedded wristbands discouraged
wanton counterfeiting, and shuttle buses eased some of the infamous traffic
snarls), an unexpected new one emerged as faulty video monitors and squelching
feedback brutalized otherwise powerful sets from R&B experimentalist Erykah
Badu and blues-adventurers the Black Keys.

But those problems didn't take away from this year's distinctly more relaxed
energy.

A festival that can rely on a crop of young bands to do its heavy lifting is
ensuring its own growth as much as it is paving the way for increased album
sales or new discoveries.

"I think it's a healthy sign," Guy Garvey, frontman for England's Elbow, which
performed a Saturday sunset slot in the Mojave tent, said of the sprightly
lineup. Though the band plays arenas back home, where it won the Mercury Prize
for "Seldom Seen Kid," Coachella affords Elbow an opportunity to make new fans
in the States, where it is still not as well known.

"It's a curated festival where not every choice is based on record sales,"
Garvey said. "It would be a shame if you knocked that out and only went for
the biggest game." Of course, the emphasis on youth and Internet-era fame can
make some wonder about the big picture. Is Odd Future in this for life? Is
Kings of Leon's "Sex on Fire" our "Light My Fire"? Maybe, maybe not.

Regardless, the weekend made an impression that's bound to remain as the years
pass.

"It's its own utopia," said 24-year-old Lauren Mosenthal of Boston, who came
for the adventurous disco of Cut Copy and Crystal Castles and the tent-
revivalist energy of Arcade Fire. "TheCheap Rosetta Stone Korean
natural surroundings of the mountains
and perfect weather, the constant visual stimulation from the art
installations, the fashion and mind-blowing sets and lights make you forget
about the outside world."

Decoding Libya

For nearly 20 years, we’ve willfully blinded ourselves to the Rosetta Stone that decodes our enemy’s war doctrine. But the jihad (or shall we call it “kinetic Islam”?) is catalyzed not by al-Qaeda but by sharia — by Muslim law. So is the “Arab Spring,” now playing in Tripoli (and elsewhere) after rave reviews in Cairo.

I have been opposed toCheap Rosetta Stone
our country’s starting a war against Libya. And starting a war is exactly what we have done, exactly what we would call it if the shoe were on the other foot — the “kinetic” and “limited” obfuscations ofCheap Rosetta Stone English
intervention proponents notwithstanding. My opposition is fourfold.

First, as a constitutional matter, Congress has neither declared war nor otherwise authorized combat operations. When there has been no attack on the United States, no imminent prospect of attack against us, and no vital American interest implicated, our system obliges theLearn French
president to have approval from the people’s representatives before entangling the people in a foreign conflict.

Police

Police say Lashanda Armstrong drove her van into the Hudson River
with her four kids inside. Her 10-year-old son was able to escape
and run for help - he was the only survivor.
Cheap Rosetta Stone Spanish
community gathered to remember those who
died, while praying for the little boy who lived.

Songs, prayers, and sorrow floated out over the water where
Armstrong drove her van into the water, killing herself and three of
her children.

"There's no telling what she was going through to take it to that
extreme she was suffering," said Jannifer Murchison.

Jannifer never met the children or their mother. But she, like many
others just wanted to leave a gift, some thoughts and find some
peace.

"It's heartbreaking, very heartbreaking," said Lizzette Toro.

"That little kid is always here. Every time I see his mother I just
want to cry," said Elizabeth Gonzalez.

"I'm thinking about the emotions going on in the family, and how it
really bothers them," said one young girl.

A local group of pastors organized the vigil. They poured salt in
the water, they say it will help heal what happened there.

"We wanted to make sure if there was anyone who needed prayer or
hope that we would reach out to them," said Pastor Rosie.

It was the passerby that reached out to 10-year-old Lashaun Armstrong that made a difference Tuesday night. She was the only
person the little boy says stopped the help.

"The last minute as he Cheap Rosetta Stone
was leaving out the window he heard his mom
say 'I made a horrible mistake,'" said Meave Ryan. "She came from
car back out but at
that time she was too much in the water."

That's when Lashaun says he escaped, running to find help

"He said 'why did I live?' I said 'you're an angel and you were
meant to live, meant to be here on this earth,'" said Ryan.

His courage, his family's tragedy has struck a cord in the
community.

"Be kind. It just takes a minute to be kind. You never know a smile
might save a life," said Murchison.

Police say the incident happened shortly after they were called to
the home for a possible domestic incident between Lashanda Armstrong
Cheap Rosetta Stone Italian
man, Jean
Pierre, was arrested back in February and charged with endangering
the welfare of a child after 2-year-old Lance was found wandering
outside alone around 1 a.m. in the morning.

Vigil held in Newburgh

Police say Lashanda Armstrong drove her van into the Hudson River
with her four kids inside. Her 10-year-old son was able to escape
and run for help - he was the only survivor.

On Thursday night, theCheap Rosetta Stone Portuguese
community gathered to remember those who
died, while praying for the little boy who lived.

Songs, prayers, and sorrow floated out over the water where
Armstrong drove her van into the water, killing herself and three of
her children.

"There's no telling what she was going through to take it to that
extreme she was suffering," said Jannifer Murchison.

Jannifer never met the children or their mother. But she, like many
others just wanted to leave a gift, some thoughts and find some
peace.

"It's heartbreaking, very heartbreaking," said Lizzette Toro.

"That little kid is always here. Every time I see his mother I just
want to cry," said Elizabeth Gonzalez.

"I'm thinking about the emotions going on in the family, and how it
really bothers them," said one young girl.

A local group of pastors organized the vigil. They poured salt in
the water, they say it will help heal what happened there.

"We wanted to make sure if there was anyone who needed prayer or
hope that we would reach out to them," said Pastor Rosie.

It was the passerby that reached out to 10-year-old Lashaun
Armstrong that made a difference Tuesday night. She was the only
person the little boy says stopped the help.

"The last minute as he was leaving out the Cheap Rosetta Stone Spanish
window he heard his mom
say 'I made a horrible mistake,'" said Meave Ryan. "She came from
the middle of the row and tried to reverse the car back out but at
that time she was too much in the water."

That's when Lashaun says he escaped, running to find help

"He said 'why did I live?' I said 'you're an angel and you were
meant to live, meant to be here on this earth,'" said Ryan.

His courage, his family's tragedy has struck a cord in the
community.

"Be kind. It just takes a minute to be kind. You never know a smile
might save a life," said Murchison.

Police say the incident happened shortly after they were called to
the home for a possible domestic incident between Lashanda Armstrong
and the three younger children's father. Police say that man, Jean
Pierre, was arrested back inCheap Rosetta Stone
February and charged with endangering
the welfare of a child after 2-year-old Lance was found wandering
outside alone around 1 a.m. in the morning.