November 20th in Uncategorized by Editor .

Even Goldman Shareholders Pi$$ed About Bonuses

Goldman must be getting used to public anger by now. Lloyd Blankfein has been doing some out-of-hours on this recently but even if all the PR stuff manages to swing the public (odds please) what about shareholders? That’s right even they are now complaining. The WSJ reports:

Some of the largest shareholders in Goldman Sachs Group Inc. have urged the Wall Street firm to reduce the size of its bonus pool, arguing that it should pass along more of its …

Charles Tyrwhitt UK
 

Goldman must be getting used to public anger by now. Lloyd Blankfein has been doing some out-of-hours on this recently but even if all the PR stuff manages to swing the public (odds please) what about shareholders? That’s right even they are now complaining. The WSJ reports:

Some of the largest shareholders in Goldman Sachs Group Inc. have urged the Wall Street firm to reduce the size of its bonus pool, arguing that it should pass along more of its blockbuster earnings to investors, according to people familiar with the situation.

The investors hold tens of millions of shares in Goldman Sachs, which is on track to make the biggest employee payout in the firm’s 140-year history.

And if that wasn’t enough, another bit of info has crept out that might need some explaining:

Some major Goldman shareholders also are concerned about a little-noticed change in the company’s financial statements that increased the firm’s total head count by adding temporary employees and consultants. The change reduced per-employee compensation, making it look like Goldman employees earn less than they actually do.

Now how many bankers have done that before?

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