Jerry Grundhofer, the brains behind US Bank, is wading into the CitiGroup mess, it was announced this morning. He’s one of four independent candidates for the troubled bank’s board of directors.
The four new directors are the trade-off Citi made in exchange for the government taking a a 36% stake in the company.
Grundhofer has made a career of turning around failing banks.
About the blogger
Bob Collins has been with Minnesota Public Radio since 1992, emigrating to Minnesota from Massachusetts. He was senior editor of news in the ’90s, ran MPR’s political unit, created the MPR News regional website, invented the popular Select A Candidate, started several blogs, and every day laments that his Minnesota Fantasy Legislature project never caught on.
NewsCut is a blog featuring observations about the news. It provides a forum for an online discussion and debate about events that might not typically make the front page. NewsCut posts are not news stories.