No Room At Goldman's Inn?

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Breaking Views reports that, despite robust markets, boom in mergers/buyouts and astronomical investment-banking earnings in the first quarter, Goldman Sachs has begun a hiring “pause.” What does this mean for everyone else? Well, given Goldman’s position in the pecking order of things, and the tendency of humans to be sheep, that others will likely follow. BV believes this may even “herald the first industry-wide freeze since the tech meltdown.”
Breaking Views thinks the “pause” stems from Goldman’s realization that by 2008, the firm will drop to $21.10 a share and down to $19.30 the following year. And asking employees to take a cut in bonuses would be out of the question ($100 million to $80 million, are you out of your minds? Why don’t we just ask our top brokers to subsist on food stamps). Some think this is a prudent and necessary step. We think it’s BS, given that we were considering putting in an application down at 85 after the long weekend. Anyone heard anything? You know where to find us. (Crying into a gossamer pillow over no longer having a ticket out of this dump, that's where).
Freezer Burn [Breaking Views]

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