"What kind of a jerk would fire an employee that has the logo tattooed on him?" I just found out that the Wall Street Journal isn't exclusively dry and serious all the time. For those of you who are looking to express your loyalty to your workplace, look at this: [quote]At age 40, tattoos weren't on the bucket list of consultant Mahadeva Matt Mani, a suburban father who generally wears suits with a tie and a pocket handkerchief. But at a company retreat in New Orleans a few years ago, he was called upon to prove his loyalty. His firm, Booz & Co., was being purchased by PricewaterhouseCoopers
04 Mar 2018
With the upcoming release of the Galaxy S3, Android lovers are getting excited a new top of the line phone, With a huge screen, lots of power, and LTE capabilities. It will certainly be a hot seller. If you are planning on buying the S3, could anything change your mind? What about the CEO of Foxconn? Terry Gou hopes you will wait for the iPhone 5 to be released. According to a Wired.com article, Terry Gou is quoted, saying the new iPhone will put Samsung's Galaxy S3 to shame.
23 Jun 2012
Mod note: "Blast from the Past - Best of Eddie" - This one is originally from 01/11 Do you have an investment banking obsession? Especially those of you still in college, do you spend every waking moment angling for a job in investment banking? Does the networking utility of those with whom you interact play a part in whether or not you'll become friends? Do you have a Chinese mother? Okay, that last question may seem a little off the wall for those who haven't read the commentary in this weekend's Journal. But David Weidner at Bloomberg took it a step further and analyzed the drive to achieve
05 Mar 2016
Mod Note (Andy): Throwback Thursday, this was originally posted 9/2012 WSO EXCLUSIVE: Titans of Wall Street caught in candid conversation on Facebook! Read on below and after the break:
12 Apr 2015
Fewest partners as a public company and fewest since 1998. Making $900k a year base plus special bonus incentives only for the special partners. Lloyd must of forgot to call me :/ 70 New Partners for Goldman Sachs, do you know any? Here's the list: Vivek Bantwal Pat Fels John Mallory Michael Ronen Heather Bellini Pete Finn Joseph S. Mauro Jami Rubin Brian Bolster David Fishman Charles M. McGarraugh Yann Samuelides Jill Borst Sheara Fredman Xavier C. Menguy Joshua S. Schiffrin Michael Brandmeyer Jacques Gabillon Amol Naik David Schwimmer Jason H. Brauth Francesco Garzarelli Jo Natauri Gaurav
14 Nov 2012
So after the whole greg smith thing, Blankfein said that there are about 12,000 VPs at Goldman. (http://online.wsj.com/article/BT-CO-20120314-7107…) The number seems crazy to me considering a SA class (IBD, Securities, IMD combined) shouldn't exceed 300 in the US (or 1000 worldwide). Considering less than half make it to VP. And they stay VP for 5 years, there should be no more than 2,500 VPs in FO worldwide. So does this mean there are almost 10,000 "Vice President" in BO? Any one here knows the real number please share.
16 Mar 2012
Ah, Davos. The ultra-exclusive gathering of the world's great movers, shakers, and decision makers, where the world's problems are discussed and solutions proposed. The CEOs and heads of international bodies are bundled up in their winter gear, and the security is top-notch-like a real-life "For Your Eyes Only." Cynics and detractors will say that Davos is irrelevant, an empty show of largesse and a whole bunch of talk and little to no action taken. I'm sure the masked protestors ringing the place would agree on some level. "You can't have a democracy without dialogue," one attendee offers. It got me to thinking, "If I was there, what would I want to talk about?"
03 Feb 2013
It's not easy being Lloyd Blankfein these days. I have to believe he was one of the only people on the planet to feel relief when the Deepwater Horizon exploded. With news of Goldman Sachs seeking a back-channel settlement with the SEC, a recent FCIC subpoena accusing Goldman of stonewalling, and Time Magazine opining about his possible successors, you almost have to feel bad for the guy. Almost. Is anyone else surprised that he's lasted this long? From a strictly strategic standpoint, wouldn't he have been of greater utility to the bank as a scapegoat, falling on his sword after the bank went
09 Jun 2010
If you've spent any time here on WSO, you surely would have noticed that starting a career in finance is not easy. The competition for jobs is fierce to say the least, and once you get in its no cakewalk. Being an analyst isn't fun and the higher up the ladder you get you realize life isn't a hoot either. Be it from the countless hours of banking or the sleepless nights of a trader, the pursuit of "baller" status is full of trials and tribulations.
21 Sep 2010
If I didn't know better, I'd say Bloomberg's Stephanie Ruhle doesn't like Lloyd Blankfein. While the interview doesn't rise to the level of hilarity that her Q&A with David Tepper did, she does manage to get in some cheap shots on the Sith Lord. Examples: "How bad did it suck to lose the Facebook deal to Morgan Stanley?" and my personal favorite, "Apple CEO Tim Cook will be sitting with the Obama family at the SOTU. Why aren't you?" To his credit, Lloyd just grins and bears it and actually turns in a pretty solid interview. He makes some really good points about deficit reduction and he
13 Feb 2013
There is a philosophy in negotiation strategy known as the Call Girl Principle and it basically posits that the value of a given service is greatly diminished once that service has been rendered. It is named the Call Girl Principle in honor of those women of commercial virtue who always demand the money up front, knowing that it is much harder to collect ex post facto in flagrante delicto. Lloyd Blankfein is obviously familiar with the principle, because Goldman Sachs announced a moratorium on political campaign contributions in national elections about a month ago. Under the guise of
08 Jul 2010
Inspired by a recent employer attractiveness survey, Jorge, an obscure yet devastatingly handsome writer for the world's premiere finance community, Wall Street Oasis, has decided to run a survey on who are the most attractive CEO's in Wall Street to work for. Choosing from over 20 nominees from the world's top banks, consulting, private equity, and fund management firms, monkeys from all over the world will vote in the comments section which 3 of the top CEOs, fund managers, or directors they want to work with the most. The winning CEOs will most likely not be notified of their victory, but
10 Nov 2010
How much money did Lloyd Blankfein make this past year? Well, he took a bit of a pay cut, his pockets are a little lighter, as in a cool $6.7 million dollars lighter. Still, Lloyd made $12.4 million, which is a nice chunk of change, but it's no where near what some of the highest paid athletes make. Tiger Woods makes upwards of $75 million. Kobe Bryant makes around $53 million. David Beckham makes $40 million. Alex Rodriguez makes $35 million. Of course, a big chunk of their salaries come from endorsement deals. It seems like Blankfein should seek out some sort of endorsement deal to offset
16 Apr 2012
22 May 2014
Starting your Christmas shopping early? Wondering what would be cool to put on your desk? Well, look no further because Thatsmyface, a custom action figure maker, has just came out with the perfect gift any aspiring monkey all the way up to the Big Swinging Dicks would love. A Lloyd Blankfein action figure. I can see the commercial already: God's work sold separately. Ridiculous storyboard aside, they've got a frigging Barbie line for Goldmanites here, there's business suit Lloyd, military Lloyd, casual Lloyd, and my personal favorite; Indiana Jones Lloyd. And if Mr. Blankfein isn't your cup
03 Nov 2010
As I have mentioned before, I am the sort of guy who roots for the bad guys in the movies. But even I have my standards. With their latest stunt, the Blankfiends are reaching a level of grime even I can't throw my lock picking kit behind. On the bright side, somebody in Goldman's PR department has been watching NSFW, either that or the sheeple are finally waking to the bucket shop standards practiced over at Lloyd's of Wall Street. For those who haven't heard, Facebook shares will no longer be for sale... to American clients.
19 Jan 2011
Definitely inspiring and always interesting to hear Lloyd's speeches. Thought some monkeys might want to give it a listen. Please post any other commencement speeches that were motivational and inspiring to some of you.
20 Jun 2013
No not that kind of casting couch action, I'm talking about Andrew Ross Sorkin's Too big to fail movie adaptation here. After a long and much speculated casting, HBO has finally released it final cast sheet and a lot of big names are in the lineup, Shalhoub, Giamatti, Woods, but I feel that more than a few is a little off. I mean come on, Billy Crudup as Geithner? and Topher Grace is in it? Anyway, here's the list for you guys to tear apart: Paul Giamatti as Ben Bernanke Topher Grace as Jim Wilkinson Ed Asner as Warren Buffett Tony Shalhoub as John Mack James Woods as Dick Fuld Dan Hedaya as
13 Oct 2010
Is the king dead? Doth the emperor wear no clothes? I hardly doubt anybody will be holding a wake for Goldman Sachs any time soon, but it is an indisputable reality that the (perhaps soon to be ex) King of Wall Street is reeling and on the ropes. The news of Lansdowne Partners sale of its entire $850 million Goldman stake may even be an unofficial industry acknowledgement of Goldman's fall from grace. Though the sales figure represents the tiniest fraction of Goldman's actual worth it does indicate a great deal about where some insiders think the bulge bracket power is headed. Lansdowne is
04 Aug 2011
When it rains it pours and in times of trouble we are often reminded that nobody can stay dry forever. It seems that this reality was lost upon Lloyd Blankfein until recently but is coming back to bite him in the face at the most inopportune time. As the Department of Justice continues its cavity search of Goldman's nether regions, Blankfein has officially lawyered up on his own. This is certainly an ominous sign for a man who has lost $52 million of his personal wealth this month alone. In retaining prominent D.C. based attorney Reid Weingarten, Blankfein is tacitly admitting that his
23 Aug 2011
So, GS' Global Research crack team released their top trades for 2012 list earlier this week and I have to say, it's a pretty interesting mix of ideas. It's mostly bearish though, with themes ranging from further deterioration in the EU, sub-par growth in China, to the Fed, the BoE, and possibly the SNB firing up the printers quite soon, so if you're looking for a pick me up this probably isn't for you. Anyway, if I remember correctly, last year's list pissed off a lot of clients when their recommendations turned south, so I figured we should put this year's list under a little monkey scrutiny
02 Dec 2011
I was writing about KKR's sweet HCA exit but found this and thought that the monkeys here; particularly the interns and those still on the jobhunt, would appreciate this a little more instead. Presumably in preparation for another barrage of intern apps, (or to minimize the screw ups) Goldman Sachs has come out with their own Summer Intern Toolkit and a pretty comprehensive Interview Guide. I have to say it's quite good, not WSO guides good mind you but it pretty much covers the basic necessities to help you in your internship and finally get that FT offer. Here's some excerpts from their
09 Nov 2010
Came across this interesting article on Bloomberg yesterday (link inside post), it has some interesting insights into leadership of both organizations and strategy. What do you guys think, who takes it in the a) mid-term, b) long-term (given their differing strategies?) Blankfein vs Gorman [quote]One grew up in Brooklyn public housing, the son of a postal worker, and shared a bedroom with his grandmother. The other was born half a world away, in Australia, the son of an engineer and the sixth of 10 children in a comfortable Melbourne household. One was a tax attorney who became a precious
26 Jun 2015
"Sonning" defined by our good friends over at Urban Dictionary, as:
This got me thinking about all the schmucks I'd son if privileged status or the ability to navigate elite security team run blocking were skills I could claim on my resume . Note to self: today's tuna can arbitrage at store must be mentioned in next HF interview. To disgrace a person. son: In the past (Mainly on the East Coast) calling some one "son" meant you desrespected that person.
24 Sep 2010
Time to indulge in a little schadenfreude, boys. Lloyd Blankfein is used to seeing himself and his bank in the number one position, but I'm guessing he's not too happy about it this time. That's right, kids. Of the top 20 largest CEO pay cuts in 2009, Lloyd saw the largest drop of all in his comp from 2008: down a whopping $40.1 million. In fact, Wall Street CEOs made up the top 3 on the list, with Vikram Pandit of Citi at number 2 (down $38.1 million from 2008) and Jamie Dimon at number 3 (down $34.5 million from 2008). Bringing Wall Street representation to a full 20% of the list, BofA's Ken
11 Aug 2010
Not front page-worthy, but still entertaining. Here's an article on CNN Money suggesting Lloyd Blankfein should just shut the fuck up. My favorite part: [quote]Apologizing for the credit bubble and claiming that Goldman has the best interests of the people at heart just makes Blankfein look foolish, not sympathetic. Come on. We all know how Wall Street works. The fact that Goldman hotshots are set to make big bonuses this year isn't nearly as insulting as the fact that Blankfein wants us to believe that investment bankers and traders are really nothing more than highly compensated social
18 Nov 2009
JPM: Jamie Dimon comes out on top with a $1MM salary and $17MM bonus (5 years restricted stock) GS: Lloyd Blankfein makes a $9MM bonus (restricted stock) MS: James Gorman makes a $9MM bonus and $800K salary BAML: Brian Moynihan makes a $950K salary and 0 bonus C: Vikram Pandit will take $1 dollar at his own request JEF: Richard Handler makes $12MM in bonus
05 Feb 2010
The 1970's, a time of great turbulence; The Vietnam War had stretched on for almost a decade, and finally ended with undesired results. The crash of 1973 and its following recession almost brought the whole world to its knees, and with oil and energy crises just around the corner, things weren't looking so good. Nixon had Watergate, Creedence Clearwater Revival disbanded, Morrison and Hendrix passed away, platform shoes and polyester became cool, and ^cult behavior had started to rear its ugly head.
13 Sep 2010
As MMMagoo stated in his earlier post, nobody has come close to Goldman Sachs as everyone's target of hate. From fraud hearings, hotels, and even ferry-riding employees, everything that has Goldman Sachs attached to it is now branded as scum. Now how could that have happened to what is arguably the most prestigious IB on Wall Street? This is where the best, the brightest, and the hungriest go, where the most ambitious start their paths, and now you can't even say you work there without blushing. So it got me thinking, what could they have/still can do to fix this PRmaggedon they're in now? What do you guys think? Here's 5 of mine:
06 Aug 2010