Transportation Nation

Barclays is Ending Sponsorship of London's Bike Share

Wednesday, December 11, 2013


Barclays is ending its sponsorship of London's bike share program, commonly known as "Boris Bikes" after the London mayor, Boris Johnson, who launched the program.   The bank announced its decision in a statement released Wednesday afternoon, London time

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Transportation Nation

Will Citibank's $41 Million Bike Share Bet Pay Off?

Monday, May 14, 2012

(Photo Andrea Bernstein)

It's been a long time since the private sector completely took in hand the funding of a public transportation network, and New York's Citibank is certainly rolling the dice by getting behind one as new as New York's bike share.

But there's some anecdotal evidence the bet to associate itself with a hip, new environmentally friendly, healthy form of transport may pay off.

(You can listen to an audio version of this story here.)

On the streets of New York last week, lots of people were already familiar with Citibank's sponsorship --  "I'm very familiar with it," said Jason Banks, who works in advertising. "Isn't it Citibank?" said Erin Goldsmith, who works for a social media company.

Lisa Lipshaw, from London, worked with the company that set up London's Barclay Cycle Hire.  "They did really well out of the sponsorship," she said.

At the kick-off press conference, Mayor Michael Bloomberg did his part.   At least four or five times, he said "Citibank" when he meant "citibike," before he corrected himself.

"The person who I have the pleasure of introducing next hopes everyone confuses Citibike with Citibank," Bloomberg said, teeing up the remarks of Citibank CEO Vikram Pandit.

Pandit himself was pretty bullish on citibike. "We think this is a very innovative program that makes people's lives easier, and that's what we do, that's what we do as a bank."

Not everyone was thrilled.   Web designer Antonio Ortiz is uncomfortable with big banks' roll in the recent financial collapse "It's like some kind of subversive way of 'Hey we're buying PR, we're being good and we care about the environment and the people of the community.' Like if it was Patagonia, I'm sure I'd feel a different way."

But still.  There are exactly zero New York bikes on the street, and already the name is catching on.

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The Takeaway

Inside Citi's Hacking Fiasco

Tuesday, June 14, 2011

Earlier this week, we told you that hackers had infiltrated Citibank’s security system and gained the sensitive account information of more than 200,000 of their customers. What we didn’t know then was that Citigroup officials had discovered the security breach three weeks earlier and failed to notify their customers.


The Takeaway

Citibank Says Hackers Accessed Credit Card Information

Thursday, June 09, 2011

Citibank has confirmed that hackers accessed credit card information for over 200,000 US customers (1% of the bank's 21 million account holders). The bank says the hacking occurred over a month ago. It's one more occurrence in what seems like a season of hacking attacks, with Lockheed Martin, Sony's PlayStation network, and Google in China also falling victim to recent hackings. 


The Brian Lehrer Show

Banker to the World

Friday, May 13, 2011

William Rhodes, former senior vice chairman of, and currently senior advisor to, Citigroup and Citibank, talks about his career, including working abroad with such figures as Fidel Castro, and his new book, Banker to the World: Leadership Lessons from the Front Lines of Global Finance.

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