BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[John Reed on the Citigroup fiasco: 'Sorry' is the easiest word]]>http://www.bloggingstocks.com/2009/11/06/john-reed-on-the-citigroup-fiasco-sorry-is-the-easiest-word/http://www.bloggingstocks.com/2009/11/06/john-reed-on-the-citigroup-fiasco-sorry-is-the-easiest-word/http://www.bloggingstocks.com/2009/11/06/john-reed-on-the-citigroup-fiasco-sorry-is-the-easiest-word/#commentsFiled under: ,

John Reed, the financier who helped engineer the creation of Citigroup (NYSE: C) has a message for investors and taxpayers who are none-to-pleased with his track record of value destruction: My bad!

In an interview with Bloomberg, Reed said "I'm sorry. These are people I love and care about. You could imagine emotionally it's not easy to see what's happened."

He also advocated splitting Citigroup and similar banks into smaller parts to lessen their ability to torpedo the broader economy.

Continue reading John Reed on the Citigroup fiasco: 'Sorry' is the easiest word

John Reed on the Citigroup fiasco: 'Sorry' is the easiest word originally appeared on BloggingStocks on Fri, 06 Nov 2009 10:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>CCitigroupinthenewsJohn ReedFri, 06 Nov 2009 10:40:00 EST<![CDATA[GAO says GM and Chrysler are 'unlikely' to pay back funds]]>http://www.bloggingstocks.com/2009/11/04/gao-says-gm-and-chrysler-are-unlikely-to-pay-back-funds/http://www.bloggingstocks.com/2009/11/04/gao-says-gm-and-chrysler-are-unlikely-to-pay-back-funds/http://www.bloggingstocks.com/2009/11/04/gao-says-gm-and-chrysler-are-unlikely-to-pay-back-funds/#commentsFiled under:

"Treasury's own analysis suggests that the circumstances necessary for the companies to reach market capitalizations high enough for Treasury to fully recovery its equity investments are unlikely," a Government Accounting Office report on the taxpayer-funded bailouts of General Motors and Chrysler found.

The problem is this: In order for taxpayers on General Motors to be made whole, GM will have to hit a market capitalization of $66.9 billion.

The highest GM's market cap has ever been is $57 billion -- and that was in 2000, when circumstances were very, very different.

Continue reading GAO says GM and Chrysler are 'unlikely' to pay back funds

GAO says GM and Chrysler are 'unlikely' to pay back funds originally appeared on BloggingStocks on Wed, 04 Nov 2009 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>featuredGeneral MotorsGeneralMotorsGMWed, 04 Nov 2009 10:00:00 EST<![CDATA[Bank of America delays CEO announcement]]>http://www.bloggingstocks.com/2009/11/02/bank-of-america-delays-ceo-announcement/http://www.bloggingstocks.com/2009/11/02/bank-of-america-delays-ceo-announcement/http://www.bloggingstocks.com/2009/11/02/bank-of-america-delays-ceo-announcement/#commentsFiled under:

After taking way too long to send CEO Ken Lewis packing, Bank of America (NYSE: BAC) is now taking way too long to find a successor.

Charlie Gasparino reports that "The board of directors of Bank of America is likely to delay a much-anticipated announcement of a replacement for CEO Ken Lewis until next week, an effort people close to the bank say, to conduct a wide-ranging search for the bank's next leader and appease some investors and analysts who want an experienced outsider to replace Lewis."

The problem is that Bank of America is having trouble finding qualified outside candidates -- because few sane people have a desire to walk into the mess that the current regime at the company has created.

Continue reading Bank of America delays CEO announcement

Bank of America delays CEO announcement originally appeared on BloggingStocks on Mon, 02 Nov 2009 15:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BACBank of AmericaBankOfAmericaMon, 02 Nov 2009 15:40:00 EST<![CDATA[Bailed out banks under marketing fire from more competent peers]]>http://www.bloggingstocks.com/2009/11/02/bailed-out-banks-under-marketing-fire-from-more-competent-peers/http://www.bloggingstocks.com/2009/11/02/bailed-out-banks-under-marketing-fire-from-more-competent-peers/http://www.bloggingstocks.com/2009/11/02/bailed-out-banks-under-marketing-fire-from-more-competent-peers/#commentsFiled under: ,

The New York Times has a nice write-up on the small, local banks that are taking advantage of their bailout virginity to lure in customers who might prefer to do business with a bank that isn't on welfare.

USAA Federal Savings Bank (Full Disclosure: I have my mortgage and credit card with USAA and it is easily the best financial institution in the world) has begun touting its lack of bailout money in a $25 million ad campaign with the tag line "Banks don't need bailouts, people do." Worthington National Bank put up a sign that says "Just say no to bailout banks."

Continue reading Bailed out banks under marketing fire from more competent peers

Bailed out banks under marketing fire from more competent peers originally appeared on BloggingStocks on Mon, 02 Nov 2009 11:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bailoutBankinginthenewsMon, 02 Nov 2009 11:40:00 EST<![CDATA[Taxpayers are, once again, the biggest losers in the CIT bankruptcy]]>http://www.bloggingstocks.com/2009/11/02/taxpayers-are-once-again-the-biggest-losers-in-the-cit-bankrup/http://www.bloggingstocks.com/2009/11/02/taxpayers-are-once-again-the-biggest-losers-in-the-cit-bankrup/http://www.bloggingstocks.com/2009/11/02/taxpayers-are-once-again-the-biggest-losers-in-the-cit-bankrup/#commentsFiled under: ,

CIT Group (NYSE: CIT) has filed for bankruptcy -- which will lead to the wipeout of the United States taxpayers' $2.3 billion "investment" in the company.

At least, it was billed as an investment at the time, which it was, in the same way that lending your crack junkie cousin beer money is an investment.

"The decision to proceed with our plan of reorganization will allow CIT to continue to provide funding to our small business and middle market customers, two sectors that remain vitally important to the U.S. economy," Jeffrey M. Peek, CIT's Chairman and CEO, said in a statement. "This market-based solution allows CIT to enter into the reorganization process well-prepared and positioned for a swift emergence."

Continue reading Taxpayers are, once again, the biggest losers in the CIT bankruptcy

Taxpayers are, once again, the biggest losers in the CIT bankruptcy originally appeared on BloggingStocks on Mon, 02 Nov 2009 11:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BailoutsBankruptcyCITCIT GroupCitGroupfeaturedMon, 02 Nov 2009 11:00:00 EST<![CDATA[Why another GMAC bailout is (especially) bad for America]]>http://www.bloggingstocks.com/2009/10/28/why-another-gmac-bailout-is-especially-bad-for-america/http://www.bloggingstocks.com/2009/10/28/why-another-gmac-bailout-is-especially-bad-for-america/http://www.bloggingstocks.com/2009/10/28/why-another-gmac-bailout-is-especially-bad-for-america/#commentsFiled under:

The Wall Street Journal reports (subscription required) that GMAC Financial Services Inc. (NYSE: GKM) is seeking a third round of bailout funds from the Treasury Department ranging from $2.8 billion to $5.6 billion. This is, the WSJ writes, "a stark reminder of how some battered financial firms remain dependent on government lifelines."

Here's what is so incredibly so screwd up about this: GMAC provides financing for car buyers. Any personal finance expert will tell you that borrowing money to buy a car is one of the dumbest things that you can possibly do.

Continue reading Why another GMAC bailout is (especially) bad for America

Why another GMAC bailout is (especially) bad for America originally appeared on BloggingStocks on Wed, 28 Oct 2009 10:10:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bailoutfeaturedgkmGMACWed, 28 Oct 2009 10:10:00 EST<![CDATA[HealthSouth to reimburse activist investors for expenses]]>http://www.bloggingstocks.com/2009/10/26/healthsouth-to-reimburse-activist-investors-for-expenses/http://www.bloggingstocks.com/2009/10/26/healthsouth-to-reimburse-activist-investors-for-expenses/http://www.bloggingstocks.com/2009/10/26/healthsouth-to-reimburse-activist-investors-for-expenses/#commentsIf you had told me in 2003 that HealthSouth Corp. (NYSE: HLS) would become a shining beacon of good corporate governance, I would have laughed.

That was when former chairman and CEO Richard Scrushy was charged with securities fraud by the SEC. In 2005, he was convicted of money laundering, extortion, obstruction of justice, racketeering, and bribery. Now he's wasting away in Club Fed -- a far fall for a CEO who was so narcissistic that he insisted that his portrait be hung in the lobby of every one of the rehab facilities his company operated.

Continue reading HealthSouth to reimburse activist investors for expenses

HealthSouth to reimburse activist investors for expenses originally appeared on BloggingStocks on Mon, 26 Oct 2009 17:45:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>activist investingActivistInvestingfeaturedHealthSouthHLSjon f. hansonJonF.Hansonrichard scrushyRichardScrushyMon, 26 Oct 2009 17:45:00 EST<![CDATA[Bank profits come directly out of your pocket]]>http://www.bloggingstocks.com/2009/10/26/bank-profits-come-directly-out-of-your-pocket/http://www.bloggingstocks.com/2009/10/26/bank-profits-come-directly-out-of-your-pocket/http://www.bloggingstocks.com/2009/10/26/bank-profits-come-directly-out-of-your-pocket/#commentsFiled under: , ,

The rally in the stock market and the return to profitability for some of the top banks has been hailed as a sign of a turnaround -- and proof that the interventionist financial policies of the past year worked.

But not so fast. In reality, a huge chunk of the profits banks are earnings can be directly attributed to their ability to borrow money at artificially low interest rates.

According to a report from the Center for Economic and Policy Research found that below market interest rates offered by The Federal Reserve accounted for 41% of JPMorgan's profits. At Bank of America, the number was 47%.

Continue reading Bank profits come directly out of your pocket

Bank profits come directly out of your pocket originally appeared on BloggingStocks on Mon, 26 Oct 2009 15:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BACbonusesCEPRfeaturedJPMMon, 26 Oct 2009 15:40:00 EST<![CDATA[Obama says banks should lend more to small businesses: Please God, no]]>http://www.bloggingstocks.com/2009/10/25/obama-says-banks-should-lend-more-to-small-businesses-please-go/http://www.bloggingstocks.com/2009/10/25/obama-says-banks-should-lend-more-to-small-businesses-please-go/http://www.bloggingstocks.com/2009/10/25/obama-says-banks-should-lend-more-to-small-businesses-please-go/#commentsFiled under: ,

Terrifying talking points out of the White House this week: President Obama called on bailed-out banks to lend more money to small businesses.

Speaking on his weekly radio address, Obama said that "These are the very taxpayers who stood by America's banks in a crisis, and now it's time for our banks to stand by creditworthy small businesses and make the loans they need to open their doors, grow their operations and create new jobs."

Continue reading Obama says banks should lend more to small businesses: Please God, no

Obama says banks should lend more to small businesses: Please God, no originally appeared on BloggingStocks on Sun, 25 Oct 2009 13:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>inthenewslending practicesloan underwritingObamaPeter J. WallisonSun, 25 Oct 2009 13:40:00 EST<![CDATA[John Meriwether starting a new hedge fund]]>http://www.bloggingstocks.com/2009/10/22/john-meriwether-starting-a-new-hedge-fund/http://www.bloggingstocks.com/2009/10/22/john-meriwether-starting-a-new-hedge-fund/http://www.bloggingstocks.com/2009/10/22/john-meriwether-starting-a-new-hedge-fund/#commentsFiled under: ,

Lock up your money.

The architect of the Long-Term Capital Management disaster, John Meriwether, is starting a new hedge fund, fresh off the collapse of his latest fund.

He closed JWM Partners three months ago after the fund lost 44% of its value during the financial crisis.

Continue reading John Meriwether starting a new hedge fund

John Meriwether starting a new hedge fund originally appeared on BloggingStocks on Thu, 22 Oct 2009 13:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>inthenewsJM Advisors ManagementJohn MeriwetherJWM PartnersLong-Term Capital ManagementThu, 22 Oct 2009 13:10:00 EST<![CDATA[White House tones down executive pay rhetoric]]>http://www.bloggingstocks.com/2009/10/19/white-house-tones-down-executive-pay-rhetoric/http://www.bloggingstocks.com/2009/10/19/white-house-tones-down-executive-pay-rhetoric/http://www.bloggingstocks.com/2009/10/19/white-house-tones-down-executive-pay-rhetoric/#commentsFiled under:

The Wall Street Journal reports (subscription required) that "Administration officials on Sunday criticized Wall Street banks over their high compensation packages and their lobbying against plans to tighten financial regulations. But the administration's tone appeared muted compared with attacks made earlier in this year, as Democrats -- with an eye toward the 2010 midterm elections -- seek to put a positive spin on recent economic developments."

It's easy to understand why the Democrats are toning down the rhetoric: They passed an unprecedented corporate welfare package, and pledged to clamp down on compensation practices that encourage excessive risk. Then Obama appointed an executive pay czar who doesn't have any real power and, aside from begging Ken Lewis to toss back a few scraps to create the illusion of a crackdown, the Democrats have done literally nothing to curb compensation practices at firms that are existing on the taxpayer dime.

Continue reading White House tones down executive pay rhetoric

White House tones down executive pay rhetoric originally appeared on BloggingStocks on Mon, 19 Oct 2009 17:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Executive PayinthenewsObamaWhite HouseMon, 19 Oct 2009 17:00:00 EST<![CDATA[Should the government really buy people golf carts?]]>http://www.bloggingstocks.com/2009/10/19/should-the-government-really-buy-people-golf-carts/http://www.bloggingstocks.com/2009/10/19/should-the-government-really-buy-people-golf-carts/http://www.bloggingstocks.com/2009/10/19/should-the-government-really-buy-people-golf-carts/#commentsFiled under:

Here's one of the most appalling stories you'll ever see: tax credits that enable ambitious tax-avoiders to get free golf carts courtesy of the United States government. The Wall Street Journal sums it up well (subscription required): "We thought cash for clunkers was the ultimate waste of taxpayer money, but as usual we were too optimistic."

The tax credit of $4,200 to $5,200 is enough to offset the entire cost of some lower-end golf carts. And if you hold onto it for a year and then sell it, you can actually make money once you include the benefit of the tax credit. According to the Journal, "The golf-cart boom has followed an IRS ruling that golf carts qualify for the electric-car credit as long as they are also road worthy. These qualifying golf carts are essentially the same as normal golf carts save for adding some safety features, such as side and rearview mirrors and three-point seat belts. They typically can go 15 to 25 miles per hour."

Continue reading Should the government really buy people golf carts?

Should the government really buy people golf carts? originally appeared on BloggingStocks on Mon, 19 Oct 2009 16:20:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>golf cart subsidiesGolf CartsGolfCartsGolfCartSubsidiesMon, 19 Oct 2009 16:20:00 EST<![CDATA[GM can't find a new CFO who will work for peanuts]]>http://www.bloggingstocks.com/2009/10/19/gm-cant-find-a-new-cfo-who-will-work-for-peanuts/http://www.bloggingstocks.com/2009/10/19/gm-cant-find-a-new-cfo-who-will-work-for-peanuts/http://www.bloggingstocks.com/2009/10/19/gm-cant-find-a-new-cfo-who-will-work-for-peanuts/#commentsFiled under:

The Wall Street Journal reports (subscription required) that "General Motors Co.'s search for an outsider to replace its chief financial officer is being complicated by the pay restrictions the Treasury Department is imposing on companies that received large bailouts from the federal government, according to people familiar with the matter."

GM is expected to be able to offer its CFO a pay package consisting of a significant amount of stock (Hah!) but a salary of only about $1 million per year -- not much for a company of GM's size and problems. Plus, ya gotta live in Detroit and work with Fritz Henderson.

Continue reading GM can't find a new CFO who will work for peanuts

GM can't find a new CFO who will work for peanuts originally appeared on BloggingStocks on Mon, 19 Oct 2009 11:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>executive compensationfeaturedFritz HendersonGeneral MotorsGMinthenewsMon, 19 Oct 2009 11:30:00 EST<![CDATA[Madoff victims sue SEC: silly]]>http://www.bloggingstocks.com/2009/10/14/madoff-victims-sue-sec-silly/http://www.bloggingstocks.com/2009/10/14/madoff-victims-sue-sec-silly/http://www.bloggingstocks.com/2009/10/14/madoff-victims-sue-sec-silly/#commentsFiled under: ,

Two New York investors have filed a lawsuit against the Securities & Exchange Commission, accusing the SEC of a "pattern of incompetence" in failing to detect and put a stop to Bernie Madoff's Ponzi Scheme.

"Had the SEC carried out its functions with even a minimum of reasonable due care, many, if not most, of Madoff's victims would have been spared the financial ruin they face today," the complaint said.

Continue reading Madoff victims sue SEC: silly

Madoff victims sue SEC: silly originally appeared on BloggingStocks on Wed, 14 Oct 2009 17:20:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Bernie MadoffBernieMadoffSECWed, 14 Oct 2009 17:20:00 EST<![CDATA[AIG paid $7,700 to retain a kitchen assistant]]>http://www.bloggingstocks.com/2009/10/14/aig-paid-7-700-to-retain-a-kitchen-assistant/http://www.bloggingstocks.com/2009/10/14/aig-paid-7-700-to-retain-a-kitchen-assistant/http://www.bloggingstocks.com/2009/10/14/aig-paid-7-700-to-retain-a-kitchen-assistant/#commentsFiled under:

The American International Group (NYSE: AIG) bonuses controversy took a turn for the bizarre today, when The Financial Times reported that the company had paid $168 million in bonuses and retention payments to 400 employees in the troubled financial products unite between December 2008 and March 2009.

And $7,700 of that amount went to a kitchen assistant.

Look: The point here is not to beat up on "the little guy" and in the grand scheme of AIG's malfeasance, $7,700 to a kitchen assistant isn't that big of a deal.

Continue reading AIG paid $7,700 to retain a kitchen assistant

AIG paid $7,700 to retain a kitchen assistant originally appeared on BloggingStocks on Wed, 14 Oct 2009 15:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>AIGAmerican International GroupAmericanInternationalGroupWed, 14 Oct 2009 15:00:00 EST<![CDATA[Memo to SEC: Put the zombie stocks out of their misery]]>http://www.bloggingstocks.com/2009/10/13/memo-to-sec-put-the-zombie-stocks-out-of-their-misery/http://www.bloggingstocks.com/2009/10/13/memo-to-sec-put-the-zombie-stocks-out-of-their-misery/http://www.bloggingstocks.com/2009/10/13/memo-to-sec-put-the-zombie-stocks-out-of-their-misery/#commentsFiled under:

USA Today's Matt Krantz reports that shares of some companies bankrupted by the financial crisis have posted huge gains in recent months: "Lehman and WaMu, for instance, were booted from stock exchanges and filed for bankruptcy protection. Yet on the lightly regulated Pink Sheets markets, this year their stocks are up 500% and 1,050%, respectively."

The problem is that shares of companies like Lehman and WaMu are completely worthless with no prospect for recovery for shareholders. Ownership of the company's assets is no longer held by the common stock -- and with creditors taking losses, there is no chance that shareholders will receive a nickel.

Continue reading Memo to SEC: Put the zombie stocks out of their misery

Memo to SEC: Put the zombie stocks out of their misery originally appeared on BloggingStocks on Tue, 13 Oct 2009 17:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>featuredpenny stocksPennyStocksSECZombie StocksZombieStocksTue, 13 Oct 2009 17:30:00 EST<![CDATA[Marge Simpson strips for Playboy -- the beginning of a turnaround?]]>http://www.bloggingstocks.com/2009/10/12/marge-simpson-strips-for-playboy-the-beginning-of-a-turnaroun/http://www.bloggingstocks.com/2009/10/12/marge-simpson-strips-for-playboy-the-beginning-of-a-turnaroun/http://www.bloggingstocks.com/2009/10/12/marge-simpson-strips-for-playboy-the-beginning-of-a-turnaroun/#commentsShares of Playboy Enterprises (NYSE: PLA) have lost more than 75% of their value over the past few years as the company looks to battle declining circulation for its legendary magazine and lower-price internet competition in the porn market.

Well look out, competitors, Playboy has found the answer: Marge Simpson. On Friday, the November issue of Playboy will hit newstands with Marge Simpson gracing cover. Playboy editorial director Jimmy Jellinek told The Los Angeles Times that "It's a very, very racy pictorial, with implied nudity at the very least. Whether or not you see more ... well, you'll have to hit the stands to find out."

Continue reading Marge Simpson strips for Playboy -- the beginning of a turnaround?

Marge Simpson strips for Playboy -- the beginning of a turnaround? originally appeared on BloggingStocks on Mon, 12 Oct 2009 18:20:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Marge SimpsonMargeSimpsonPLAPlayboyThe SimpsonsTheSimpsonsMon, 12 Oct 2009 18:20:00 EST<![CDATA[Lou Dobbs to Fox Business? Roger Ailes hopes so]]>http://www.bloggingstocks.com/2009/10/12/lou-dobbs-to-fox-business-roger-ailes-hopes-so/http://www.bloggingstocks.com/2009/10/12/lou-dobbs-to-fox-business-roger-ailes-hopes-so/http://www.bloggingstocks.com/2009/10/12/lou-dobbs-to-fox-business-roger-ailes-hopes-so/#commentsFiled under:

Fox is hoping to beef up its roster of talent for its up and coming (although currently widely mocked) Fox Business Network.

And who are they hoping to add? None other than CNN's Lou Dobbs. According to The New York Times, citing "two people with direct knowledge of the meeting", Mr. Dobbs met for dinner with Fox News president Roger Ailes.

Continue reading Lou Dobbs to Fox Business? Roger Ailes hopes so

Lou Dobbs to Fox Business? Roger Ailes hopes so originally appeared on BloggingStocks on Mon, 12 Oct 2009 14:10:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Fox BusinessFoxBusinessinthenewsLou DobbsLouDobbsRoger AilesRogerAilesMon, 12 Oct 2009 14:10:00 EST<![CDATA[Carl Icahn says market could 'double dip']]>http://www.bloggingstocks.com/2009/10/12/carl-icahn-says-market-could-double-dip/http://www.bloggingstocks.com/2009/10/12/carl-icahn-says-market-could-double-dip/http://www.bloggingstocks.com/2009/10/12/carl-icahn-says-market-could-double-dip/#commentsFiled under:

In an interview with CNBC on Friday, investment legend Carl Icahn referred to the stock market as "schizophrenic" and said that the market is on a "precipice" and "really could go either way."

"If you get a double-dip recession and they start coming down, it's going to be a bit of a bloodbath," he said. "The amateur investor is going to get hit badly again because they're pouring money into these funds. Some of these funds managers I do not think are experienced enough to handle some of the distressed stuff they're buying and they're going to get burned."

Continue reading Carl Icahn says market could 'double dip'

Carl Icahn says market could 'double dip' originally appeared on BloggingStocks on Mon, 12 Oct 2009 10:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Carl IcahnCarlIcahnMon, 12 Oct 2009 10:30:00 EST<![CDATA[Goldman Sachs looks to pay bonuses amid PR nightmare]]>http://www.bloggingstocks.com/2009/10/12/goldman-sachs-looks-to-pay-bonuses-amid-pr-nightmare/http://www.bloggingstocks.com/2009/10/12/goldman-sachs-looks-to-pay-bonuses-amid-pr-nightmare/http://www.bloggingstocks.com/2009/10/12/goldman-sachs-looks-to-pay-bonuses-amid-pr-nightmare/#commentsFiled under:

CNBC's Charlie Gasparino reports that "Rival banks are eagerly awaiting this week's earnings announcement from Goldman Sachs (NYSE: GS) not only for the third-quarter results but for how the firm deals with up to $20 billion in bonuses just a year after it received federal bailout money during the height of the financial crisis."

With third quarter earnings expected to ring in at more than $2 billion, Goldman is prepared to pay out some hefty bonuses. The problem? Given that Goldman Sachs received a taxpayer bailout only a year ago, paying out massive cash bonuses now could lead to a significant public relations backlash.

Continue reading Goldman Sachs looks to pay bonuses amid PR nightmare

Goldman Sachs looks to pay bonuses amid PR nightmare originally appeared on BloggingStocks on Mon, 12 Oct 2009 08:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>featuredGoldman SachsGoldmanSachsGSMon, 12 Oct 2009 08:00:00 EST