The Supermarket is Dead!

[Steven D. Audino]

When Vikram Pandit first took over as CEO at the end of 2007, many said he was the only person the company could find to take the job. During the review of fourth quarter earnings, Pandit said his “administration” had effectively inherited numerous troubles which were not of their doing. I think many would accept that, I do. Whether by choice or not, Mr Pandit is now trying to do what should have been a long time ago – he’s announced a liquidation sale, the supermarket is dead!

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