Goldman Sachs is Dead
Goldman Sachs, the infamously glorified work place of almost everyone here, cannot seem to break any good news into the media. Of course, GS is known to have the brightest people and as much prestige as English royalty. Nonetheless, I will one up Meredith Whitney and claim that Goldman’s greatness is slowly coming to its knees. With only three resounding reasons to back my foresight, I am eager to hear your rebuttals:
1) As Dealbook reported last evening, about a dozen partners have put in their notice to retire from the firm- an unusually large number indeed. As widely speculated, these partners appear to be leaving in order to ensure that their severance packages will get paid in full while there is still some cash left in Goldman’s bank. In an effort to drastically cut costs, Goldman was already expected to let go about 10,000 employees by 2012. Recently, internal reports are signaling that layoffs might be further upped. With more layoffs on the horizon, one can only assume that its once incredible talent pool is grossly shrinking.
2) Last quarter, GS reported a $400 million plus loss, the first posted loss since 2008. The Volcker Rule alone is supposed to cost about $1 billion for banks next year, and obviously, GS will be apart of those losses. Along with regulatory uncertainty, I just have to imagine there is no one left in the world for GS to fuck and profit off. YTD GS is down 67%, and unless Merkel can pull out an epic miracle, the broader financial industry along with Goldman will only continue to tumble.
3) The bank is hugely vilified as one of the most symbolic figures of corporate greed of our time. With six Gulfstreams sitting in a New York hangar at any given time and a lavish corporate headquarters in New York, I keep picturing the gaudy office space Salomon Brothers built in London prior to their collapse. Between the GSelevator Twitter and Greece claiming that Goldman helped them cook their books, I cannot think of a more deserving ensemble of all this media disgrace.
Oh, how the mighty have fallen.






Comments
And with all that being sad,
And with all that being sad, I would still gladly work there.
"Look, you're my best friend, so don't take this the wrong way. In twenty years, if you're still livin' here, comin' over to my house to watch the Patriots games, still workin' construction, I'll fuckin' kill you. That's not a threat, that's a fact.
Will Hunting wrote: And with
And with all that being sad, I would still gladly work there.
^ this.
Man cannot remake himself without suffering, for he is both the marble and the sculptor. -Dr. Alexis Carrel
Will Hunting wrote: And with
And with all that being sad, I would still gladly work there.
ditto
YOU JUST GOT TROLLED
http://www.troll.me/images/red-foreman322/dont-you...
Will Hunting wrote: And with
And with all that being sad, I would still gladly work there.
Me as well.
Will Hunting wrote: And with
And with all that being sad, I would still gladly work there.
<3 GS
;)
I really hope GS doesn't die
I really hope GS doesn't die because GS Elevator is a big part of my day.
You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.
Nefarious- wrote: I really
I really hope GS doesn't die because GS Elevator is a big part of my day.
This.
The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee
WSO is not your personal search function.
with all that said i might
with all that said i might still gladly work there......i'm already at a prestigious bulge bracket so depends on the position :)
Beast
all a ploy to go back into
all a ploy to go back into hiding; Goldman will never die!
good time to buy the stock?
good time to buy the stock?
WSO Conference 2013
Private Certified User Chat
WallStreetOasis.com
good time to buy the stock?
based on point #1 seems like it might be a good time to short it instead. That many people walking away seems like a sex scandal or they know something everyone else doesn't.
Goldman is like the Yankees.
Goldman is like the Yankees.
Sure they are hatable and portrayed as dubious, but you would love having them on your side.
Once banks and Europe stop being on TV 24/7 I think things will look up for them PR wise.
nate1749
good time to buy the stock?
based on point #1 seems like it might be a good time to short it instead. That many people walking away seems like a sex scandal or they know something everyone else doesn't.
http://dealbook.nytimes.com/2011/11/14/a-wave-of-p...
Article made it sound like they were victims of cost-cutting and the general shrinkage in headcount. As the article describes, low-performing partners are culled to make room for new ones and keep the size of the partnership pool down. "Retiring" doesn't actually mean they chose to leave...it's probably a euphemism for being forced out nicely.
I wouldn't work at GS winky
I wouldn't work at GS
winky
^^ Thats what I thought when
^^ Thats what I thought when I saw this. If a bunch of junior guys are leaving, a few senior ones will have to as well. Besides, goldman will eventually shed "bank holding company" status so the Volcker rule wont apply.
Leadership can be defined in two words: "Follow Me"
houseofcards wrote: nate1749
YOU JUST GOT TROLLED
http://www.troll.me/images/red-foreman322/dont-you...
What were people saying about
Well if they are politely
I think the best bet for
brooksbrotha wrote: I think
Fuck Goldman, that what IBs
Nefarious- wrote: I really
Will Hunting wrote: And with
blastoise wrote: Fuck
blastoise wrote: Fuck
Any thoughts as to which will
gubbier wrote: Any thoughts
"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie
duffmt6 wrote: gubbier
YOU JUST GOT TROLLED
http://www.troll.me/images/red-foreman322/dont-you...
UFOinsider wrote: duffmt6
milehigh wrote: UFOinsider
“...all truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.”
- Schopenhauer
Goldman is having a tough
gubbier wrote: Any thoughts
"One should recognize reality even when one doesn't like it, indeed, especially when one doesn't like it." - Charlie Munger
B-School Bound wrote: Most of
YOU JUST GOT TROLLED
http://www.troll.me/images/red-foreman322/dont-you...
B-School Bound wrote: Goldman
Perella Weinberg ... pretty
Here's the thing. If you can't spot the sucker in the first half hour at the table, you are the sucker.
Bernankey wrote: B-School
GS to go under? Unlikely.
RufioandHook wrote: What were
1/2 of the WSO Bash Brothers
"Licensed to Ill It"
We all know Bro J did it...
cplpayne wrote: gubbier
http://seekingalpha.com/news-
illiniPride wrote: ^^ Thats
Giving up BHC status doesn't
"One should recognize reality even when one doesn't like it, indeed, especially when one doesn't like it." - Charlie Munger
frankly, for everything
pick em, lick em, stick em
Will Hunting wrote: And with