As evidenced by an absurd debate he had last night at Chelsea Piers. Read more »
Back in April, both the New York Times and Charlie Gasparino claimed they’d heard Lloyd Blankfein was tired. So tired, they were told, that a regular nap would not suffice, but rather an entire lifestyle change was necessary, which included quitting his job. Goldman Sachs said the reports were untrue and reassured us at the time that Lloyd would be with us for many years to come. Unfortunately, the stories opened the door for people to start speculating about who might take over for LB when– we don’t even want to say it let alone think it– he decides he’s done running Goldman Sachs. They included current president Gary Cohn, vice-chairmen Michael Evans and Michael Sherwood, the latter of which was recently named Gary Cohn’s successor as chairman of the partnership committee, as well as “more junior candidates” like, David Heller, Harvey Schwartz, and David Solomon. Today Reuters reports that despite being less known than some of the other names, Solomon “might have what it takes to lead Wall Street’s most powerful bank.”
While it remains to be seen whether his slight resemblance** to Lloyd will be a good or a bad thing for his candidacy (will the fact that he kind of looks like LB serve as a constant reminder that he’s not LB and never will be?) insiders are apparently into Solomon’s laid-back attitude and the fact that he’s not a trader. Here’s a little more info on Lloyd Lite. Read more »
On the condition GS works for free. Read more »
When the Sanford Bernstein analyst closes his eyes, he pictures Lloyd and Co going out of their way to get on Carl Levin’s good side, possibly going so far as to praise his work. Read more »
If you’ve been keeping up with your HBO original programming schedule, you know that Too Big To Fail, the movie based on Andrew Ross Sorkin’s 2009 book, airs next Monday evening. Last night was the premiere at the Museum of Modern Art and while the trailers looked promising, in order to make sure none of you wasted any of your precious time or DVR space in the event it wasn’t worth it, I attended to see how things turned out and report back. Warren Buffett did the same, though was initially met with some opposition at the door, in an encounter that went like this:
Door girls: Do you have your ticket?
Door girls: You need your tickets.
Buffett: Oh, uh…we were invited..
[One of Buffett's dates]: This is Warren Buffett.
[The group is seated]
Other people in attendance who did have their tickets, included but were not limited to: George Soros (with a entourage of lady friends), Meredith Whitney in a white pinstriped suit, Becky Quick, Rodgin Cohen, Regis Philbin, Michael Douglas and all the actors from the flick (William Hurt, Paul Giamatti, Billy Crudup, James Woods, Bill Pullman, Evan Handler, Tony Shalhoub, Matthew Modine, Ed Asner), though not all the real life people they portray (Jamie Dimon was getting ready for today’s JPM shareholder meeting in Ohio, Fuld was probably busy plotting his comeback).
The movie condenses Sorkin’s 539 page book into about 90 minutes and traces the slightly tense moments that were 2008 just after Bear Stearns was bought to the day Paulson locked the top bank CEO’s in a room and and forced them to accept his capital injections. William Hurt does a pretty badass Hank– who gets the most screen time by far– having spent a few days fishing with him in preparation for the role (during which one would hope HP described what it was like threatening to send Ken Lewis home in a body bag if he backed out of the Merrill Lynch deal). I liked it, you probably will too.** Now let’s get down to the nitty gritty. Read more »
We have no idea but apparently he’s been spotted “cruising around the trading floor with a bunch of senior guys this afternoon, shaking hands, etc, with hair that looks like it hasn’t been cut in months.” Wild speculation encouraged at this time. Read more »
Goldman Sachs Chairman and Chief Executive Lloyd Blankfein said he is not stepping down, despite media reports that he has plans to resign. Blankfein spoke to reporters after Goldman’s annual meeting in Jersey City, N.J., on Friday…One well known shareholder, Evelyn Y. Davis, suggested at the start of the meeting that Blankfein should step down once the session was over. When asked by reporters why he wanted to stay, Blankfein quipped, “And give up all this?” [Reuters]