Ford Going Private Part II: Citigroup’s Rubin resigns from Ford board

Former U.S. Treasury Secretary Robert E. Rubin has resigned from the board of Ford Motor Co., citing a potential conflict of interest with his duties as a member of the chairman’s office at the banking company Citigroup Inc.

Rubin is doing the right thing by resigning because if a deal involving Citigroup takes place, he would face scrutiny from the Securities and Exchange Commission, McTevia said.


“It’s entirely probable that Citigroup, being the size of an institution they are, would have the ability to finance the Ford family buying their stock back,” McTevia said.


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woood - 8/27/2006 10:33:21 PM

+1 Boost

Could it be possible that everything that has happened and has been said about Ford losing money, stock price tumbling has something to do with Ford being taken private?