• 12 Mar 2009 at 9:25 AM

Goldman Sachs Goes Slumming

Picture 874.pngSo, we hope this doesn’t sound entitled, but Lloyd Craig Blankfein, this is a total crock. You see that shit hole at left? Bet you never would’ve thought we’d be telling you that Goldman Sachs employees are being chained to that bed, and others like it down the hall, did ya? The Journal reports that not only are Goldman employees no longer being put up at the Ritz, but they’re going as downmarket as Embassy Suites. And if you think you can still charge a hooker to the room and no one will say anything, think again, former MOTUs! You won’t even be able to get away with ordering a well-deserved Backdoor Sluts 9 off pay-per-view at the end of a long day. Blankfein’s made it his personal responsibility to go through that shit line by line.

Some of the bankers aren’t happy with the switch. “No one’s supposed to complain out loud, but, let’s face it, we’re spoiled,” says one Goldman employee. “They turned us into hotel snobs.”
One night recently, a dozen Goldman employees from the Chicago office were yucking it up at happy hour, which starts at 5:30 sharp. The group was huddled around three tables in a cafeterialike room overlooking the headquarters of Merrill Lynch & Co., now owned by Bank of America, drinking free Budweiser out of plastic cups and eating pretzels and tortilla chips. Another evening, topics of conversation around the bar ranged from Bermuda reinsurers to hedge-fund fraud.
Inside Goldman, the hotel has become the butt of jokes. There are grumblings about its accommodations and a wake-up call service that blares “cock-a-doodle-do” into the telephone. For the many Goldman executives who visit New York for meetings in midtown Manhattan, the hotel’s location on the far southwestern edge of the island is inconvenient.

Though just a mile from each other, the Ritz-Carlton Battery Park and Embassy Suites Battery Park are worlds apart. Rooms at the Ritz offer views of New York Harbor and the Statue of Liberty; Embassy Suites rooms look out across the Hudson River, at Jersey City, N.J. Ritz guests luxuriate in 400-thread-count Frette linens made of 100% Egyptian cotton, while at the Embassy Suites guests sleep on 250-thread-count Hilton Hotel-brand sheets made of a 60/40 cotton-poly blend.
And forget free breakfast or drinks at the Ritz, which offers an $11 Irish oatmeal brûlée with berries compote in the morning and a $14 Ritz Carlton Martini (gin, muddled cucumber, mint and fresh lime juice) at night.

Comments (24)

  1. Posted by guest | March 12, 2009 at 9:35 AM
  2. Posted by Anal_yst | March 12, 2009 at 9:37 AM

    #1 FTW

  3. Posted by guest | March 12, 2009 at 9:37 AM

    “Trapster, its Sach. What was the name of that private investigator we used to set up that Shearson Lehman prick?”
    “The Big Sleazy, Tommy Gufanno. He’s a wop genius.”

  4. Posted by guest | March 12, 2009 at 9:43 AM

    you had me at backdoor sluts 9. What an awesome episode…

  5. Posted by guest | March 12, 2009 at 9:54 AM

    You’re reaching here. Most people could give a sh!t about this kind of thing, esp at GS, which goes out of its way to project a “just folks” image of its people. Also, the Embassy Suites actually has a much better gym (you get to use the NY Sports Club in the building).

  6. Posted by guest | March 12, 2009 at 9:58 AM

    Quit yer bitchin’ kids – those are real imitation Frank Gehry hockey chairs in the lobby, and at least you’re not holed up at the Jersey City Hyatt — yet.
    Why no mention of the 30,000 pairs of nothing but shoegasm at DSW next door? Don’t forget Wednesday is Wing Nite at Applebee’s and Svetla from Ukraine will deliver to your room personally so it really doesn’t matter if you can’t get “Booty and the Beast” on cable.

  7. Posted by guest | March 12, 2009 at 10:02 AM

    @5- “you’re reaching here”?
    interesting. i mean, it was only deemed worthy of a wsj article, and “most people could give a shit about this kind of thing”? except for the gs employees quoted in the article?

  8. Posted by guest | March 12, 2009 at 10:04 AM

    #5 Is a hot dog vendor on Water St.

  9. Posted by Suits | March 12, 2009 at 10:12 AM

    Could someone explain what the “far southwestern edge” is of a north/south oriented island that is 1/2 mile wide?

  10. Posted by guest | March 12, 2009 at 10:17 AM

    Not sure who really is complaining (they must be new). Goldman switched to the hotel for two obvious reasons – 1. They own the hotel (as the article states) and 2. The new HQ is three steps away. Anyone with a clue at GS knew that this was coming eventually – it was speculated after they bought the property two years ago that they would force the Embassy Suites out and open a fancier chain in its place. With the market right now, I doubt that’s going to happen though.

  11. Posted by guest | March 12, 2009 at 10:17 AM

    7 There’s only one GS employee quoted: “Lets face it were spoiled, they turned us into hotel snobs.” I would hardly call that a complaint. As for the issue being important enough to get mention in the WSJ: note that its in the humor column.
    I’ve stayed at both places. Frankly the Ritz is nicer, but really nothing special. See the pic: except for the view, this could be any cheezy Holiday Inn. In terms of marginal benefit vs. marginal cost, the Ritz comes up really short. I repeat: this whole thing is just silly.

  12. Posted by guest | March 12, 2009 at 10:19 AM

    Really, the school teacher from Jasper has never heard of Goldman Sachs? Never?

  13. Posted by guest | March 12, 2009 at 10:20 AM

    Is it really one mile from the Embassy to the Ritz? Feels like half that maybe.

  14. Posted by guest | March 12, 2009 at 10:20 AM

    @11/5- where the fuck do you think you are, the economist? most stuff posted here is “silly.”
    also: no one gives a shit that you’ve stayed at the Ritz.
    In closing: eat a dick.

  15. Posted by guest | March 12, 2009 at 10:24 AM

    I am a PM at a small, awful performing
    hedge fund. We stay at the Carlyle.

  16. Posted by guest | March 12, 2009 at 10:25 AM

    @8 wins

  17. Posted by guest | March 12, 2009 at 10:33 AM

    @10 “Goldman switched to the hotel for two obvious reasons – 1. They own the hotel (as the article states) and 2. The new HQ is three steps away.”
    um, plus the whole not making as much money as they used to thing.

  18. Posted by Anal_yst | March 12, 2009 at 10:34 AM

    @Suits
    I guess it’d be terrible to put the employees up @ the “far southeast edge” somewhere like the Exchange Hotel, which is all of what, 400m from 85 Broad/1 NYP?
    @13
    The google machine has confirmed it is ~1 mile.

  19. Posted by guest | March 12, 2009 at 10:34 AM

    I stay at the Chelsea Hotel.
    wildcard, bitches!

  20. Posted by Lowly Assistant | March 12, 2009 at 10:42 AM

    19,
    If it’s good enough for Sid, Nancy, and L. Cohen, it’s good enough for me.
    Wildcard, indeed!

  21. Posted by guest | March 12, 2009 at 10:57 AM

    what’s a MOT?

  22. Posted by guest | March 12, 2009 at 10:57 AM

    @9 – battery park

  23. Posted by guest | March 12, 2009 at 12:47 PM

    Dear dealbreaker: I am a hedge fund manager. What is a per diem?

  24. Posted by Billy Ray Human | March 12, 2009 at 3:28 PM

    @11 dude cmon. If you have stayed at the Ritz you know it’s really nice – especially compared to an Embassy Suites.
    Also, see @14.

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