- Report: #12904
Complaint Review: Primerica Citigroup - Nationwide Nationwide
-
Author Not Confirmed
Why?
Primerica Citigroup
Nationwide, Nationwide, U.S.A.
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Don't let Primerica rep tell you Citigroup is woth $1 Trillion (it's a lie)*UPDATE: Primerica recognized by Rip-off Report a business opportunity well worth considering - it's not for everyone but many representatives make solid commission incomes. Primerica takes appropriate action against representatives conducting themselves improperly, pledges 100% commitment to customer service.
I've noticed that many of the Primerica supporters and also those who have had the Primerica pitch mention that Citigroup is worth over 1 trillion dollars. As one Primerica groupie recently put it, Citigropu is the "largest company ever to exist. We have just now topped $1 trillion in assets."
Let's boil down the numbers.
Citigroup is certainly not the biggest company in the world, let alone ever. Market cap for Citigroup is $244.4 billion. Compare that with GE ($366.1 billion).
Citigroup is not even the biggest financial services group. That honor goes to Mizuho Holdings of Japan.
Citigroup has 5.1 billion shares outstanding. Curent revenue is $2.75 per share for the last 12 months on revenue of $15.6 per share. That's a total of about $14 billion in income on total revenue of about $80 billion dollars. Book value per share (value of assets per share) is $14.89 which comes out to assets of around $76 billion.
These are big numbers, but not even 1/10th of the "trillion" dollars claimed by Primerica apologists.
Market cap isn't even a quarter of that amount.
Primerica flunkies need to stop spouting lies.
Let's boil down the numbers.
Citigroup is certainly not the biggest company in the world, let alone ever. Market cap for Citigroup is $244.4 billion. Compare that with GE ($366.1 billion).
Citigroup is not even the biggest financial services group. That honor goes to Mizuho Holdings of Japan.
Citigroup has 5.1 billion shares outstanding. Curent revenue is $2.75 per share for the last 12 months on revenue of $15.6 per share. That's a total of about $14 billion in income on total revenue of about $80 billion dollars. Book value per share (value of assets per share) is $14.89 which comes out to assets of around $76 billion.
These are big numbers, but not even 1/10th of the "trillion" dollars claimed by Primerica apologists.
Market cap isn't even a quarter of that amount.
Primerica flunkies need to stop spouting lies.
4 Updates & Rebuttals
Jeff
Muskegon,Michigan,
U.S.A.
They have one trillion in liabilities too
#2Consumer Comment
Wed, June 16, 2004
Want to have some fun with the next Primerica dupe that tells you that Citigroup has one trillion dollars in assets? Tell them that Citigroup also has one trillion dollars in liabilities. Both statements are true according to Citigroup's balance sheet, and it is stupid to point out one while ignoring the other. I have a house. It is an asset. I have a mortgage. It is a liability. Same goes with cars and car payments. Someone with $500,000 in assets and $499,000 in liabilities is not that impressive. You see how that works, Primerica zombies?
Cravin
Gahanna,Ohio,
U.S.A.
benefit from sucking Primericans and their clients into their sleazy CitiFinancial 125% of equity loans
#3Consumer Comment
Tue, June 15, 2004
Primerica is so far removed from Citgroup it's laughable. They leave messages and send emails claiming to be part of Citigroup, but they are merely an investment for the parent. Primericans don't get any of the benefits that Citigroup employees get. Citigroup probably does get a dividend paid by Primerica, but they really only benefit from sucking Primericans and their clients into their sleazy CitiFinancial 125% of equity loans at outrages interest rates with single premium decreasing term life jammed into the balances.
Tyon
Novi, MI,Michigan,
U.S.A.
Dude you Need to check you facts
#4UPDATE EX-employee responds
Fri, March 28, 2003
The person before is right and you dont know anything... Check you facts just because a mag says somthing does not mean it is true... Yhea top 100 anyone can be a top 100 d**n man you are stupid...
John
Cleveland,Ohio,
Check your facts again buddy!!
#5Consumer Comment
Mon, February 11, 2002
I suggest subscribing to Forbes to get the true worth of Citigroup. Forbes magazine ranked Citigroup #1 in the Super 100. You've got to do better than throwing some fancy nubers at everyone about the price of shares. Better luck next time.
