Citigroup Unloads Andrew Hall
Citigroup has solved its Andrew Hall problem. The man in charge of the bank's commodities trading unit, Philbro—and the man who'd created a major headache in recent weeks since he'd been guaranteed a bonus of $100 million while Citigroup still owes the federal government $45 billion—will have a new parent by the end of the year. Citi has announced it's selling the unit to the oil company Occidental Petroleum. One problem down, only a few thousand more to go! [Reuters]