New Group Of Nuns Is Pissed At Goldman Sachs

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In October 2009, the Benedictine Sisters of Mt. Angel, Oregon filed a shareholder resolution strongly suggesting the board of Goldman Sachs "review pay disparity" at the firm and "analyze the appropriateness of its spiraling pay packages." It seems they were not satisfied with GS's response (or lack thereof) and have once again demanded some introspection on the part of Lloyd and Co re compensation, this time with the support of their colleagues from the Boston and Philadelphia offices.

Goldman Sachs is facing a call from four leading orders of catholic nuns to review whether the pay awarded to chief executive Lloyd Blankfein and other top executives is excessive. The proposal will be put forward at the Wall Street bank’s annual general meeting next month by the orders, who own shares in Goldman, the bank revealed in a filing with the Securities and Exchange Commission. The Sisters of Saint Joseph of Boston, the Sisters of Notre Dame de Namur, the Sisters of St. Francis of Philadelphia and the Benedictine Sisters of Mt. Angel want Goldman’s compensation committee to report back by the beginning of October.

Nuns Ask Goldman Sachs Whether They're Really Worth $69.5 Million [Telegraph]

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