Citi Cuts Costs and Might Have More Layoffs

The stock is getting near the $30 mark and if it breaks through it might be a pretty good value. Too bad all of the subprime writedowns haven't been wrung entirely out of the stock yet.

Its shares fell $1.63, or 5.1 percent, to $30.07 in afternoon trading
Monday. The bank is still looking for a new CEO, after Charles Prince
stepped down as chairman and chief executive Nov. 4, the same evening the bank
announced that it will likely write down the value of its portfolio by another
$8 billion to $11 billion in the fourth quarter

Once that happens I think it might be a good stock to jump back into simply for the dividend alone. Hopefully the new CEO will view that dividend as something that cannot be cut and even raise it as things start to get better.