online.wsj.com - 11/17/2008
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In a closely watched move that may be followed across Wall Street, the top executives at Goldman Sachs Group Inc. have decided to forgo their 2008 bonuses. In doing so, they are giving up potentially tens of millions of dollars in payouts in a year that reshaped the securities industry. After ...
dealbreaker.com - 11/18/2008
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dealbreaker.com —
So, I'm not saying that Citi senior executives
should get bonuses, because they probs shouldn't. But if...
I were Vickie Pandit or one of the Pandettes it would really frost my cookies to hear Andrew Cuomo suggest that "At the very least, Citigroup ...
(more)
Why Can't You Be More Like Goldman Sachs?
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Top Goldman Sachs (GS) execs take no bonuses
BloggingStocks —
... The top seven executives at Goldman Sachs (NYSE:GS) will take no bonuses for 2008. That will leave them with their $600,000 base salaries and perhaps the status of heroes as Wall St. crumbles. According to The Wall Street Journal, "they are giving up potentially tens of millions of dollars in payouts in a year that reshaped the securities industry.." ...
Is This It?
Trader Daily Combined Feed —
... in March with the shotgun marriage of Bear Stearns Cos. to J.P. Morgan Chase & Co. Then, in September, Lehman Brothers Holdings Inc. filed for bankruptcy protection and Merrill Lynch agreed to be bought by Bank of America Corp.
Goldman has fared better than other firms, but its stock is down more than 60% this year. Analysts are predicting it is on course to post its first quarterly loss as a public company in December when it reports its fourth-quarter earnings.
Continue reading on WSJ.com
How Goldman Spun the Inevitable into Big News
DealBook —
... moved quickly on to how to get the best spin mileage out of the move. Three tactics were key: 1. Go first. By being the first big financial firm to announce such restraint, Goldman reaped the benefit of being positioned as a leader in the majority of news reports, many of which included a mention of New York State Attorney General Andrew Cuomo’s recommendation that other banks follow the example. Goldman is used to taking the lead. In fact, The Wall Street Journal’s Susanne Craig reported that other firms were standing by on a “Lloyd watch,” waiting to see what precedent ...
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Goldman Faces Loss of $2 Billion for Quarter
online.wsj.com 12/2/2008 — Goldman Sachs Group Inc., known for avoiding many of the blowups that have battered its Wall Street rivals, now is likely to report a net loss of as much as $2 billion for its quarter ended Nov. 28, according to industry insiders. The loss, equal to ...
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dealbook.blogs.nytimes.com 8/18/2009 — Goldman Sachs may decide to trim its compensation structure later in the year in a nod to public sentiment, analysts at Pali Capital said. That could be a boon to shareholders.
Economists Promise Recession for Christmas —
The Big Money 11/17/2008
More bad news to start the week: the U.S. economy will shrink further over the next two quarters, extending the current slump into early 2009, with the unemployment rate expected to peak at 7.5 percent, according to a new poll of economists ...
Business this week —
The Economist: Full print edition 11/20/2008
Citigroup, which has recorded a loss in each of the past four quarters, said that it would cut 52,000 jobs, on top of the 23,000 already announced since the beginning of the year. The latest reduction will leave Citi with around 300,000 employees. ...
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