My company takes its Wang out in Boston

[avant1963]

I couldn't help post this headline.

And it's great to know where my holiday bonus is going this year. I'll get a year subscription to the Jelly of the Month club - the gift that keeps on giving all year long.

My favorite quote:

"What the Wangs did is save the day in 1983," Spaulding said. "Twenty-five years later, Citigroup is playing that role."

I know some here that would like the Wang to save the day... but didn't that talk just get a bunch of people upset yesterday.

Onc, I need that Meercat picture in here, STAT! And another beer, please.

Citigroup Pays $34M to Name Wang Center

Thursday November 9, 2:08 pm ET

Citigroup Spends $34 Million for Naming Rights to Wang Center in Boston

BOSTON (AP) -- Citigroup Inc. said Thursday it bought the naming rights to the Wang Center for the Performing Arts for $34 million as the financial services company's retail arm, Citibank, tries to become a major presence in the Boston banking market.

A new banner on the building reads "Citibank Center for the Performing Arts," though officials who announced the deal Thursday said the center's official new name will be announced later. New York-based Citigroup, the nation's largest financial institution, has agreed to pay in installments over the next 15 years.

"Citigroup has had a large customer base in Boston for many years through its various business units, and we are now proud to add our world-class retail bank," said Maura Markus, president of Citibank North America. "We look forward to a long commitment to The Wang Center and to this great city."

The move is part of Citigroup's effort to expand its visibility in the U.S., where it is the largest financial institution but is far behind No. 2 Bank of America in retail operations.

Citigroup said as part of its third-quarter earnings report last month that it had opened a record 277 new branches in the quarter, including 101 in the U.S. A number are in the Northeast, where Charlotte, N.C.-based Bank of America extended its reach since the acquisition of FleetBoston Financial Corp. in April 2004.

Citigroup chairman and chief executive Charles Prince has been under pressure to hold down costs to boost profits. But he has insisted that investing in branches and other retail operations is necessary to drive future revenue growth.

The former Metropolitan Center, which includes the Shubert and Wang theaters, first opened in 1925. It was renamed in 1983 after a $4 million donation from the family An Wang, founder of Wang Labs and inventor of magnetic core memory -- an early form of the memory devices used in today's computers. The center was struggling with debt at the time, according to the center's president, Josiah Spaulding Jr.

"What the Wangs did is save the day in 1983," Spaulding said. "Twenty-five years later, Citigroup is playing that role."

The 3,600-seat Wang Theater will keep the family's name and portraits of the late An Wang and his wife, Loraine, who will remain the center's honorary chairman.

Citigroup shares fell 10 cents to $50.47 in afternoon trading on the New York Stock Exchange.

[ocnblu]

"And tonight, the Wang award for outstanding actor in a dramatic role goes to..."

I wonder what the trophy looks like? Oh well, maybe we'll never know. Most of the actors who've won them probably keep them concealed.

Edited November 10, 2006 by ocnblu

[I hope GMRULES again]

Reminds of the movie Peggy Sue gets Married from around 88-89 when the girl asks the guy if she can see "it" and he says " You mean my Wang''?

[ocnblu]

Is that a '67 Galaxie 500?

[I hope GMRULES again]

Is that a '67 Galaxie 500?

214722[/snapback]

Yes my brother picked this up back in the spring on Ebay.

[ocnblu]

Sweet

[RBB]

"And tonight, the Wang award for outstanding actor in a dramatic role goes to..."

I wonder what the trophy looks like?  Oh well, maybe we'll never know.  Most of the actors who've won them probably keep them concealed.

213968[/snapback]

"I'm so honored to be holding this wang in my hand tonight. Honestly, I never thought I'd get my hands around one. It's an honor just to be in the running for a wang. I was up against some stiff competition, and any one of those guys would be deserving of the wang,

But really, my wang belongs to the fans. It's you that believed in me, who thought I was good enugh for the wang. And to them I say, as I hold out my wang to the crowd: Look at this. This wang's for you! I love you all! Thank you! Thank you!"

<hands wang to the stage girl, who leads him off stage with it>

-RBB

Edited November 18, 2006 by RBB

[I hope GMRULES again]

"I'm so honored to be holding this wang in my hand tonight.  Honestly, I never thought I'd get my hands around one.  It's an honor just to be in the running for a wang.  I was up against some stiff competition, and any one of those guys would be deserving of the wang,

But really, my wang belongs to the fans.  It's you that believed in me, who thought I was good enugh for the wang.  And to them I say, as I hold out my wang to the crowd:  Look at this.  This wang's for you!  I love you all!  Thank you! Thank you!" 

<hands wang to the stage girl, who leads him off stage with it>

-RBB

217115[/snapback]

That's pretty good, and then he thanks his parents because without them this wang would not of been possible and that he can't wait to go home to share it with his family!