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Registered
Join Date: Mar 2004
Location: Summerville, SC
Posts: 2,057
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Goldman Sachs Going into Bankruptcy?
The Wall Street Journal is reporting Goldman may have a loss of $5/share for its last quarter of 2008 -- waaaay worse than what analysts were expecting.
Another big Wall Street "ponzi scheme" may be ready to bite the dust. |
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12-01-2008, 09:42 PM
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Bandwidth AbUser
Join Date: Nov 2001
Location: SoCal
Posts: 29,522
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Oh no! What will Paulson do after after Jan. 20th now?
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Jim R. |
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12-02-2008, 02:37 AM
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"O"man(are we in trouble)
Join Date: Nov 2005
Location: On the edge
Posts: 16,452
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I hate to go back to the old school excuse but I wonder what they will be shelling out for bonuses this year?
Nothing, I would hope. |
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12-02-2008, 02:56 AM
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Join Date: Apr 2002
Posts: 30,430
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I think their top executives have already given up their bonuses for '08. I don't think the CEO will miss his, he received a record setting $68 MILLION bonus for '07 alone (and I'm not referring to cashing in accumulated options either)
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12-02-2008, 03:11 AM
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911 user
Join Date: Sep 2001
Location: East of Eden, West of the Sun
Posts: 2,411
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Worldwide it seems that a lot of banks and big name corporations are in serious trouble and are likely to go under or are taking aggressive action to avoid it such as laying off a lot of staff, selling assets etc.
In some cases I am sure they are taking advantage of the situation to get rid of a lot of deadwood from positions that should never have been created and filled by people that should never have been hired. The consequence of this all happening at once is that a lot of these people (especially the older ones) will probably never work in their profession (generous use of the word profession) again. I anticipate a lot of first novels, so called "consultants" touting for work and new one-man and a dog business start-ups. I don't see a lot of hope until we return to a genuine production based economy where workers at all levels perform and are paid for genuine productive work. This oviusly includes everyone from the cleaner to the customer service rep, to the general manager to the bank officer.
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Where once the giants walked now Mickey Mouse is king. My other car is also a Porsche. |
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12-02-2008, 03:29 AM
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"O"man(are we in trouble)
Join Date: Nov 2005
Location: On the edge
Posts: 16,452
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http://www.fiercefinance.com/story/more-goldman-sachs-bonus-pool/2007-12-14
The average in 2007 was $600,000 per employee and the pool was $18 Billion, I think they need to review their compensation program! |
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12-02-2008, 03:31 AM
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Former Options Trader !!!
Join Date: Feb 2003
Location: Bucks County PA
Posts: 6,756
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600k per employee is a deceiving figure. Obviously that’s top heavy and the mean bonus was probably less than 100k. Goldman was changed to a “bank holding company” from an investment bank and I speculate that some of the earnings drop has to do with accounting rules. I doubt GS is going under. I am screwed if they do.
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Current:88 Guards Red Coupe, 89 Coupe Track Rat, 76 Caddy Eldo Convert. 2015 Aprilia Tuono Wrecked 1987 Targa Guards Red, 2003 Ducati ST4S Sold 1987 Granite Green Targa, 993's, 93 RSA, other 964 coupes, 89 911 Turbo Ruf mods, 90 e30 M3, 07 BMW R1200S STOLEN 94 Speedster |
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12-02-2008, 05:39 AM
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Sports Purpose 911 Driver
Join Date: Mar 2002
Location: La Jolla, CA
Posts: 4,368
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Quote:
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James Shira R Gruppe # 271 1972 911 Coupe 3.8 RS ‘nbr two’ 1972 911 Coupe 3.2 TwinPlug MFI 'Tangerina-Jolie' 1955 356 Pre A Coupe ‘old red’ 1956 356A Emory speedster build in progress |
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12-02-2008, 06:29 PM
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Detached Member
Join Date: May 2003
Location: southern California
Posts: 26,964
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Quote:
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Hugh |
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12-02-2008, 07:02 PM
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Slackerous Maximus
Join Date: Apr 2005
Location: Columbus, OH
Posts: 18,162
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Nothing wrong with the Wallstreet bosses that a 7.62 round in the back of their wouldn't fix.
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2022 Royal Enfield Interceptor. 2012 Harley Davidson Road King 2014 Triumph Bonneville T100. 2014 Cayman S, PDK. Mercedes E350 family truckster. |
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12-02-2008, 07:40 PM
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Sports Purpose 911 Driver
Join Date: Mar 2002
Location: La Jolla, CA
Posts: 4,368
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What a stupid comment.
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12-02-2008, 07:54 PM
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Former Options Trader !!!
Join Date: Feb 2003
Location: Bucks County PA
Posts: 6,756
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Quote:
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Current:88 Guards Red Coupe, 89 Coupe Track Rat, 76 Caddy Eldo Convert. 2015 Aprilia Tuono Wrecked 1987 Targa Guards Red, 2003 Ducati ST4S Sold 1987 Granite Green Targa, 993's, 93 RSA, other 964 coupes, 89 911 Turbo Ruf mods, 90 e30 M3, 07 BMW R1200S STOLEN 94 Speedster |
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12-03-2008, 05:20 AM
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