Tuesday, April 28, 2009

Vikram Too "Tied Up" to Make Last Friday's Earnings Call

When we wondered a few days ago where Vikram Pandit was for last Friday for Citi's (C) earnings call, we weren't the only ones.

According to yesterday's Wall Street Journal, several shareholders asked about it during Tuesday's annual meeting in New York.

Mr. Pandit responded that he was tied up with "a lot of other things." Mr. Parsons [Citi's chair] then elaborated saying that he and Mr. Pandit had to meet Friday morning with Citigroup's federal regulators, "who hold the fate of the company in their hands."

If true, I would hope, in the future, the federal government (as a 36% shareholder in C) would see that it's important for Pandit to carve out an hour four times a year to talk to shareholders on these calls.

Originally published in RealMoney.com on 4/23/2009 7:38 AM EDT

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