Grove Sound-Off: What Next for Citi?

The news for Citigroup this week seems to have gone from bad to worse. Monday it announced it would cut 53,000 jobs, including several thousand in Florida, though it didn’t offer many specifics as to where those layoffs will occur.

Now comes word Friday that Citi may sell off part or all of its operations, causing even more trepidation in an already frightening economy. That kind of news most definitely impacts the Sunshine State, where Citi has substantial operations in Tampa, Jacksonville, Miami and Fort Lauderdale.

Grove Alert: BayWalk Stumbles

The St. Petersburg Times reports Friday that the BayWalk retail/entertainment complex in Downtown St. Petersburg is nearing foreclosure after its $17-million mortgage was called. BayWalk opened at the start of this decade and was intended to be a catalyst for the city’s aging CBD.