Dow Jones Sheds More Metal

Citigroup Travelers history i

Click to enlarge. Lincoln Ritter hide caption

itoggle caption Lincoln Ritter
Citigroup Travelers history

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Lincoln Ritter

This week the Dow Jones Industrial Average dropped General Motors and Citigroup from its index. The Dow Jones Industrial Average uses the stock prices of 30 companies to gauge the health of America's industrial sector.

GM was replaced by Cisco Systems. Citi's spot went to Travelers Companies. Which is ironic, seeing as Citi used to own Travelers. In fact, Citi got its corporate identity from Travelers — the red umbrella (check out a cool video about Citi's designer Paula Scher). Two years ago, they split and Citigroup sold the red umbrella logo back to Travelers.

The Dow is looking distinctly unindustrial these days. Back in 1999 it ditched Chevron, Goodyear Tire & Rubber and Union Carbide for Intel, Microsoft and and what's now AT&T. Moving from GM to Cisco seems like another big step toward a long list of high-tech companies.



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