Goldman Sachs said profit dropped 58 percent, beating analysts’ estimates as the company cut compensation in response to falling revenue. Fourth-quarter net income dropped to $1.01 billion, or $1.84 a share, from $2.39 billion, or $3.79, in the same period a year earlier, the New York-based company said today in a statement. Per-share earnings exceeded the $1.23 average estimate of 26 analysts surveyed by Bloomberg, whose predictions ranged from 70 cents to $2.50. “There seems to be continued emphasis on cost control and compensation control and that’s a good thing,” said Charles Bobrinskoy, the Chicago-based vice chairman and director of research at Ariel Investments. [Bloomberg, earlier]
must be nice
Hey DB–
I am in Jupiter, Florida and am sitting 20 feet from Ruth Madoff at the pool. She’s wearing a strapless brown, black and white bathing suit. Has a book and drink on the table next to her but has been focusing on frying for the last hour. She looks pretty good– am thinking about asking if she needs help re-applying suntan lotion.
*That pic is of Lady MacMadoff in better days, not this afternoon, though it sounds like things are looking up.
