Find UFOs, The Apocalypse, New World Order, Political Analysis,
Alternative Health, Armageddon, Conspiracies, Prophecies,
Spirituality, Home Schooling, Home Mortgages and more, in:
Rumor Mill News Reading Room Archive
DEALBOOK: Goldman Investors Want a Bigger Slice of Profits November 20, 2009,
Investment Banking
Goldman Investors Want a Bigger Slice of Profits
November 20, 2009, 6:26 am
Some of Goldman Sachs’s largest shareholders have asked the company to cut the size of its bonus pool and pass along more of its profits to investors, The Wall Street Journal reported, citing people familiar with the situation.
Although the shareholders were not pushing for a huge cut in the bonus pools, they feel that Goldman should better reward shareholders for this year’s rebound, the newspaper said.
“We think the compensation debate is coming across as a populist issue, when to us it is really about how Goldman and other firms can best allocate capital and how pending changes in the regulatory framework may change all this,” Tom Marsico, founder of Marsico Capital Management, a Goldman shareholder who often talks to Goldman about compensation and capital allocation, told The Journal.
Goldman has faced public ridicule for setting aside nearly $17 billion for year-end bonuses after receiving a $10 billion taxpayer bailout during the financial crisis. The bank, which has reported robust profits in the past two quarters, has paid back the government money.
The Journal didn’t name any of the shareholders asking for the cuts, although it said the investors hold tens of millions of shares in Goldman Sachs.
Serving Freedom
and Liberty
