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Show World&Mation Page 10 HOME BUYERS! Bank Qualifying Credit Application NAW L osn 1-801-208^2070 www.SweetDealNow.cofn ONLY 5% plus 1st mo... Moves You In! Barney Trucking, a leading dry bulk carrier in the intermountain west, is looking for an experienced truck shop technician for its facility in Salina, UT. Applicants must have at least three years of verifiable experience repairing over-the-road tractors and trailers and provide their own tools. Additionally, all applicants must pass a criminal background check, drug test, and have a clean MVR. Experience working on belly dump and bulk pneumatic trailers a plus. Barney Trucking offers competitive wages with a 4 day work week, shift differential pay, and full benefit program including 40IK. You may apply online at www.barneytrucking.com or call 435-529-3701 for an application. BARNEY TRUCKING DO YOU SPEAK GEEK* Earn up to $11 to $13.50 an hour doing Dell tech support! Ai Tdepcrfornmncc. 1.1. is where n's al! Rijiht rum. we're hiring lech support people to lake incoming phone calls from Dell cuMortkTs who need help with ihcir PC's. If \ ou have: Six months or more of call center experience and a technical background, we want lo talk to you right now. We have: Full- and pjri-time positions with paid training in Salt Lake. Clcsrfidd and Lintlon. We need A - certified people. If you're not A - certified, we'll help you gel there. Monday, Nov. 5, 2007v Citigroup CEO resigns Sunday NEW YORK (AP) - Citigroup Inc. Chairman and Chief Executive Charles Prince, beset by the company's billions of dollars in losses from investing in bad debt, resigned Sunday and is being replaced as chairman by former Treasury Secretary Robert E. Rubin. The nation's largest banking company announced Prince's widely expected departure in a statement following an emergency meeting of its board. Citi also said Sir Win Bischoff, chairman of Citi Europe and a Member of the Citi management and operating committees, would serve as interim CEO. Rubin, a former co-chairman of Goldman, Sachs & Co., has served as the chair of Citi's executive committee, and it was also expected he would lake a greater role in leading the company. In a separate statement, Citi, which look a hit of $6.5 billion from asset writedowns and other credit-relaled losses in the third quarter, said il would take an additional $8 billion to $11 billion in writedowns. "It was the honorable course, given the losses we are now announcing," Rubin said of Prince's resignation in an interview with The Associaled Press. Prince joined former Merrill Lynch & Co. CEO Stan O'Neal, who resigned from ihe investment bank last month, as the highestprofile casualties of the debt crisis that has cost billions at other financial institutions as well. Prince, 57, became chief executive of Citigroup in October 2003. Many shareholders criticized him openly for much of his tenure, as Citigroup's stock lagged its peers while Prince executed what was called an umbrella model of corporate organization, with several separate lines of business. Shares closed Friday at $37.73, about 20 percent below where they were when Prince became CEO. Prince's position looked especially shaky after the company on Oct. 1 estimated that third-quarter profit would decline about 60 percent to some $2.2 billion after seeing nearly $6 billion in credit costs and write- downs of overly leveraged corporate debt and souring home mortgages. At that time, Prince said the bank's earnings would return to normal in the fourth quarter. But when Citigroup released its thirdquarter results two weeks later, the writedowns and credit costs exceeded $6 billion, and Chief Financial Officer Gary Crittenden indicated the outlook going forward wasn't as upbeat as Prince had predicted. Citigroup wasn'l alone in its third-quarter turmoil. When borrowers with poor credit stopped paying their mortgages, many banks not only had to take losses on those subprime mortgages, they also saw instruments in their portfolios backed by mortgages plummet in value. But Citigroup's stumbles were particularly grievous, given the bank's size, history and CEO, who had been telling shareholders for years to give his strategy a chance. Even in October. Prince said in a call to analysts: "1 think any fair-minded person would say that strategic plan is working." Fixing Citigroup will lake more than just cleaning up bad debt. The umbrella model that Sanford I. Weill created and Prince touted looked like a giant mess compared to its conglomerate counterpart JPMorgan Chase & Co. — now led by Weill's former protege, Jamie Dimon. JPMorgan's writedowns were smaller, and strength in asset management, security services, card services and commercial banking units made up for weakness in other areas. Having cut costs and built up cash reserves in previous quarters, the bank was belter prepared for a tough lending climate. Meanwhile, Citigroup's expenses outweighed revenues, it botched its fixed income trading operations, and its cash-to-debt ratio dipped. The anger toward Prince was so intense that during a conference call last month, Deutsche Bank analyst Mike Mayo told Prince that investors wanted a significant change in management. His supporters, CITIGROUP C E O CHARLES PRINCE resigned Sunday amid billions of d'-ltac-, in losses from investing in bad debt. He ;. i>uing replaced by Treasury Secretary Rober: Pvubin. AP photo though, argue that he was dealt a tough hand when his predecessor Weill gave him the reins, and that matching the hefty profit gains Citigroup saw in the 1990s would be difficult for any CEO. Weill was a fairly popular leader, building Citigroup through various mergers and acquisitions over the course of about 20 years into the huge conglomerate that it is today. When he stepped down as chairman in 2006 and handed the position to Prince, Weill — now a board member — got two standing ovations from shareholders and a big blue banner from employees that read, "Thank you, Sandy!" Prince, whose compensation came to nearly $25 million last year, is leaving under a much darker cloud. Citigroup, along with JPMorgan Chase & Co. and Bank of America Corp., is trying to create a fund lo buy up distressed securities in the tight credit markets, a move some industry experts say smacks of desperation. 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