
Not just a boot. A pair of boots! Following in AIG’s massive bootsteps, Citi and GM have received the Cordial Invitation to GTFO from the Dow:
General Motors Corp. (GM) and Citigroup Inc. (C) will be replaced in the Dow Jones Industrial Average by Cisco Systems Inc. (CSCO) and Travelers Cos. (TRV), respectively.
GM filed for bankruptcy Monday as part of a government-aided restructuring effort. Bankruptcy is an automatic disqualifier for membership in the benchmark stock index.
Citigroup is being removed as “the bank is in the midst of a substantial restructuring which will see the government with a large and ongoing stake,” said Dow Jones Editor in Chief Robert Thomson. “We genuinely hope that once the bank has refashioned itself that we will again be able to consider it for inclusion. Citigroup is a renowned institution, not only in this country, but around the world.”
No word on whether or not the door actually hit anyone in the ass in the process. In a bit of hilarity, one of the replacements is Travelers, which was spun off from Citi. Proof that you are better off under the umbrella, indeed. The other replacement is Cisco, not to be confused with either Sysco or Sisqo, though Cisco might want to celebrate with a catered feast and a DJ playing the Thong Song. I mean, that is how I would do.


LoLo,Esq. // Jun 1, 2009 at 11:40 am
HAHAHA suck it CITI
Jason // Jun 1, 2009 at 7:24 pm
Something this awesome WOULD happen when I am out of town.