Complaint Review: Primerica, Citigroup - Nationwide Nationwide
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- Author Not Confirmed
- Primerica, Citigroup Nationwide U.S.A.
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- Category: Multi Level Marketing
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.
*Consumer Comment: They have one trillion in liabilities too
*Consumer Comment: benefit from sucking Primericans and their clients into their sleazy CitiFinancial 125% of equity loans
*UPDATE EX-employee responds: Dude you Need to check you facts
*Consumer Comment: Check your facts again buddy!!
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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.
This report was posted on Ripoff Report on 01/31/2002 12:00 AM and is a permanent record located here: https://www.ripoffreport.com/reports/primerica-citigroup/nationwide/dont-let-primerica-rep-tell-you-citigroup-is-woth-1-trillion-its-a-lieupdate-primer-12904. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#4 Consumer Comment
They have one trillion in liabilities too
AUTHOR: Jeff - (U.S.A.)
SUBMITTED: Wednesday, 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?
#3 Consumer Comment
benefit from sucking Primericans and their clients into their sleazy CitiFinancial 125% of equity loans
AUTHOR: Cravin - (U.S.A.)
SUBMITTED: Monday, June 14, 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.
#2 UPDATE EX-employee responds
Dude you Need to check you facts
AUTHOR: Tyon - (U.S.A.)
SUBMITTED: Thursday, March 27, 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...
#1 Consumer Comment
Check your facts again buddy!!
AUTHOR: John - ()
SUBMITTED: Monday, 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.
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