On the heels of the move by General Electric (NYSE: GE) Thursday to spin-off its consumer and industrial division, today we have news that Citigroup (NYSE: C) is selling its German retail banking business for $7.7 billion.

According to MarketWatch: "Citigroup said Friday that it's going to sell its German retail banking business to France's Credit Mutuel for 4.9 billion euros ($7.7 billion) in a deal that will strengthen its balance sheet and help it focus on faster-growing businesses."

This is a smart move for the company in order to clean up its balance sheet, but it's just a small step. If the company truly wanted to provide shareholder value, it could spin off the credit cards division, separate domestic and global consumer banking, spin off the capital markets division and so on. I admit that I haven't done all the work on this but my hunch is that if Citi would break up the company the combined parts would be valued significantly higher than where it is now trading.

While selling the division helps the balance sheet, unfortunately the impact for shareholders is muted. I would much rather see it follow the path of GE and give shareholders a share of this business and other businesses.

At least this sale is a start.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer's fund has no position in any stock mentioned, as of 7/11/08.

Procter & Gamble Co. (NYSE: PG) currently owns dozens of brands, many of which are household names. From Pampers to Pringles, Crest to Cover Girl, the consumer-products giant has a foothold in many industries, and its 2005 purchase of Gillette merely added to this list. (For a summary of the company's current product lines, click here.)

Now, there is some speculation on Wall Street as to whether Procter & Gamble will sell off some of its brands in an effort to streamline operations and return cash back to company shareholders. While it is pure conjecture at this point -- company officials have not said publicly that they are considering spinning off any brands -- Lehman Brothers analyst Lauren Lieberman told The New York Times that she suspects "there has been an active dialogue within P&G about if, when, and what pieces of its portfolio should be pruned via sale or spin."

Ms. Lieberman ran the numbers, and it appears as though the most likely brands for sale consideration are Duracell, Braun, Folgers (and other coffee), and Pringles (along with other snack lines). The company's pet-food business (which includes the Iams brand) could also be put on the auction block.

Duracell could fetch as much as $4.1 billion (in after-tax proceeds) at auction, while Braun could attract up to $1.5 billion. The snacks and coffee units are both valued around $4.1 billion, while the pet-food business could be sold for $2 billion, Ms. Lieberman said.

Beth Gaston Moon is an analyst at Schaeffer's Investment Research.

Friday was a fascinating day for General Electric Co. (NYSE: GE); the shares were actually up $1 and trading volume was at 91 million shares, nearly triple the usual amount. The hoopla started when Citigroup research mentioned that GE should be broken up and spun off into separate companies. It's about time.

I have been writing about the possibility of GE splitting up for the past year for members of my website. It only makes sense. The problem with General Electric is that it has too many moving parts to properly predict consistent growth. GE is expected to generate revenues of $176 billion this year, with earnings per share of $2.22. For 2008, early consensus is for revenues of $196 billion and earnings per share of $2.48, barely a 10% increase over 2007.

Revenues are growing at slightly less than 10%. The 10% number is a magical number for Wall Street. If a company falls under that benchmark, serious questions about strategy and direction need to be asked -- and answered. Jeff Immelt, CEO, has been under the gun recently as the shares of GE have plodded along for the past six years in a narrow trading range. The bottom line is that there has been minimal growth for shareholders, but a decent dividend -- currently at $1.12, for a 3.1% yield.

GE has a market capitalization of $378 billion and is one of the most successful companies in the world. No question, investors who have owned the shares these past 20 years have been superbly and amply rewarded. The Jack Welch era saw skyrocketing growth of revenues and earnings, not to mention many new management principles crystallized in his books.

That was then -- this is now.

Earlier this month I was in London visiting with several professional portfolio managers that I worked with these past 16 years. All in all, I visited with 11 professional managers who, combined, manage over $80 billion in the U.S. stock market. It's always an interesting perspective to hear the views and observations of foreigners who make their living in our markets. They do indeed bring a refreshing, nonbiased point of view.

One portfolio manager in particular was vehement that Daimler (NYSE:DCX) will not rise in value until they unload "that turkey," the Chrysler division. He explained that Daimler on its own merits is a growth company and the Mercedes-Benz brand is the jewel. His parting words to me were "as this spin-off or sell-off gets closer, DCX will lift like a balloon on Ascot Day." (Remember, he's British!)

He reasoned that profits generated by the Mercedes cars, trucks, and buses are being drained by the poorly run, bloated Chrysler division. Chrysler was the drag because of union issues, long-term health care commitments, and lousy facilities. Daimler, left alone, is a well-run and efficient auto/truck manufacturer with excellence in its engineering and production facilities. He may well be right.

Yesterday, Daimler was up $4.76 per share, and since early March when all this talk of spinning/selling off Chrysler began, the stock has moved up from $67 to $83, a huge move in a difficult market environment.

I spoke with him again this morning and, as expected, he is taking the victory lap. The "I told you so" was mentioned three or four times in our discussion between sips of tea. He exclaimed that Daimler shareholders will now demand that Chrysler be unloaded, as shareholders are now beginning to understand the power of Daimler's stock without Chrysler dragging it down. He said his price target is $100 to $110 for Daimler. He went to say, "I understand how you blokes get emotional about an American institution like Chrysler, but it is profit-proof in its current position."

He again is probably right, and he did tell me so ...

Georges Yared is the author of Stop Losing Money Today and Baby Boomer Investing. Please visit www.georgesyared.com

Each year Steven Halpern, editor of TheStockAdvisors.com, surveys the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is part of his 24th annual Top Picks Report.

Western Union (NYSE: WU) is the top conservative pick for 2007 from Cory Janssen. In the Investopedia Advisor, he explains, "Spun off from First Data Corp. in October, Western Union is an outstanding company to own as a long-term holding.

"Its powerful brand recognition gives it a critical advantage in an industry where customer trust is of such high importance. As well, the company's enviable distribution network leaves it very well-positioned to capitalize on the ongoing growth in international money transfers.

"The business does face some short-term risks. Recent political debate surrounding U.S. immigration policy has prompted a decline in the frequency of money transfers from the U.S. to Mexico, and this has weighed on the company's recent quarterly numbers. We feel that this is a temporary blip.