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Opening Bell: 11.20.09
Nov 20, 2009, 8:10am
Posted by Dealbreaker
Goldman Holders Miffed At Bonuses (WSJ) Squid on Squid violence: "Some of the largest shareholders in Goldman Sachs have urged the Wall Street firm to reduce the size of its bonus pool, arguing that it should pass along more of...
Divine Sanction For Goldman's New MDs (Update)
Nov 19, 2009, 1:19pm
Posted by Jon Shazar
The ranks of the elect are growing: Goldman Sachs has named 272 new managing directors. Apotheosis for God's chosen few is scheduled for New Year's Day. Thereafter, it's all milk, honey and million-dollar bonuses, but they've earned it, so sayeth...
Goldman Sachs: You Think God Would Let 'Egomaniacs' Work Here?
Nov 09, 2009, 12:52pm
Posted by Bess Levin
By now you've likely heard the news: you can no longer say that Goldman Sachs is evil, because Lloyd Blankfein and Co. are merely doing the big guy's bidding. Actually, that's not true: you can call the Masters of the...
Opening Bell: 11.09.09
Nov 09, 2009, 7:45am
Posted by Dealbreaker
Lloyd Blankfein: "I'm Doing God's Work" (Times Online) An impish grin spreads across Blankfein's face. Call him a fat cat who mocks the public. Call him wicked. Call him what you will. He is, he says, just a banker "doing...
Opening Bell: 11.05.09
Nov 05, 2009, 8:08am
Posted by Dealbreaker
Big Bonuses Are Back For Many On Wall Street (WSJ) A survey by Johnson Associates "projects that the biggest increases in year-end cash bonuses and equity awards will go to employees in rebounding businesses such as fixed income and equities....
Barclays Chief: Jesus Loves Bonuses
Nov 04, 2009, 10:44am
Posted by Bess Levin
Are you expecting to receive an obscene amount of cashola this bonus season? What one might characterize as perhaps an "ungodly" amount? Are you feeling slightly conflicted about it, 'cause while you love all that ka-ching! on your face, you...
Opening Bell: 10.30.09
Oct 30, 2009, 8:10am
Posted by Dealbreaker
Galleon Fears Raised In 2001 (FT) An analyst in JPMorgan's alternative asset management arm said the unit "should reduce our allocation" in Galleon's flagship technology fund, citing what he described as "more negative news about Raj and his cohorts." Bankers...
Write-Offs: 10.27.09
Oct 27, 2009, 5:52pm
Posted by Bess Levin
$$$ Goldman Sachs: We're The Good Guys [NYT] $$$ Jamie Dimon promises not to go after top performers at Bank of America, Citi [AP] $$$ Is Hank Greenberg So Bad For Starting An AIG 2? [NYM] $$$ UBS To Align...
Does Lloyd Blankfein Let His Clothes Talk For Him?
Oct 27, 2009, 11:07am
Posted by Bess Levin
According to the Financial Times, yes, and they're the secret to Goldman's success. Unexplored: whether or not the firm would be where it is today if the once "ostentatious and inappropriate dresser" had continued to let his freak-flag fly. Blankfein...
Opening Bell: 10.21.09
Oct 21, 2009, 7:57am
Posted by Dealbreaker
Chiesi Search For Investor Edge Went To Far, Say Prosecutors (WSJ) Danielle's attorney begs to differ: Mr. Kaufman said that all Ms. Chiesi was doing was trying to get better information than most people have, which is "what thousands and...
Write-Offs: 10.16.09
Oct 16, 2009, 5:23pm
Posted by Bess Levin
$$$ "Raj Rajaratnam was ordered to post a $100 million bond as part of his bail conditions, though prosecutors argued for no bail because he posed a flight risk. Anil Kumar was released on a $5 million bond." [Dealbook] $$$...
Opening Bell: 10.16.09
Oct 16, 2009, 7:57am
Posted by Dealbreaker
Bank of America Announces Third-Quarter Net Loss of $1.0 Billion (BofA) Ken Lewis not defeated: "The company's core performance was impacted by a number of non-core items," said Lewis. "The market's improved view of Bank of America's credit cost the...
Write-Offs: 10.15.09
Oct 15, 2009, 5:45pm
Posted by Bess Levin
$$$ MBA students rebuilding credibility of businesspeople one underwear company at a time. [WSJ] $$$ Goldman Sachs' (too much) money problems [The Deal] $$$ NYT Editorial approves sale of Phibro, which lost money one day in 1991. [NYT] $$$ Ex-Goldman...
Opening Bell: 10.15.09
Oct 15, 2009, 8:00am
Posted by Dealbreaker
Goldman Sachs Reports 2009 Third Quarter Earnings Per Common Share of $5.25 (GS) "Although the world continues to face serious economic challenges, we are seeing improving conditions and evidence of stabilization, even growth, across a number of sectors," said Lloyd...
Write-Offs: 10.14.09
Oct 14, 2009, 6:00pm
Posted by Bess Levin
$$$ "The financial system nearly collapsed," the buzzed man in the bar told me, "because smart guys had started working on Wall Street." [NYT] $$$ Allen Stanford coughed up blood today. [AP] $$$ Liz Claman: "If Yahoo fan groups spring...
Opening Bell: 10.14.09
Posted in Opening Bell, Oct 14, 2009, 7:10am
Posted by Dealbreaker
JPMorgan Reports $3.6 Billion Profit For Third Quarter (BW) Sayeth Jamie Dimon: ""Our net income of $3.6 billion in the quarter reflected the strong earnings power of the company, with broad-based growth across the Investment Bank, Asset Management, Commercial Banking...
Opening Bell: 10.13.09
Oct 13, 2009, 8:15am
Posted by Dealbreaker
BofA to Hand Over Documents Related to Its Merrill Deal (WSJ) The bank apparently reversed its decision to give up the legal advice it got re: acquiring Merrill Lynch in an effort to "pave the way to a settlement of...
Write-Offs: 10.12.09
Oct 12, 2009, 3:15pm
Posted by Bess Levin
$$$ Blackstone Calls Bottom of Market; Plans IPOs, Sales [WSJ] $$$ Maria Bartiromo working the Columbus Day Parade [NYP] $$$ Get your Madoff Mask [AP] $$$ Charlie Gasparino: Goldman Tries to Distract Critics From Its Huge Bonuses [CNBC] $$$ We're...
Lloyd Blankfein: Goldman Sachs Was Never At Risk To Fail Except For When It Was, Which Would Explain The Screaming And Crying Coming From My Office
Oct 12, 2009, 10:15am
Posted by Bess Levin
The Journal ran an interview with Holman Jenkins and Lloyd Blankfein over the weekend on a variety of topics including whether or not the bank will pay out huge bonuses this year despite populist bitching (yes), if Goldman got any...
Goldman Economist Calls For Moment Of Zen
Oct 12, 2009, 9:31am
Posted by Greg Michaels
People seriously need to calm down about this whole financial crisis thing. That was part of the message Goldman chief economist, Jim O'Neill, delivered as part of a panel with economists and UK Prime Minister Gordon Brown. Why the need...
