“De mortuis nihil nisi bonum …” “Of the dead speak aught but good.”
The ancient admonition seems the only way to hedge the reflection that as bad as Citi’s problems are, how much worse might they have been had Walter Wriston still been running the bank. It was the late Citibank CEO Read More
Hearst Corporation, ABC News, Marc Jacobs and oil and gas billionaire David Koch have all canceled their holiday parties. (Barry Diller, the CEO of the media conglomerate IAC, however, has not.)
In a handy little slideshow, The Business Sheet looks back to last year and Read More
On Nov. 6, at a Real Estate Board of New York event open to the press, Stuart Rothenberg, the 45-year-old, soon-to-retire head of Goldman Sach’s Whitehall Fund, publicly warned of the firm’s exposures to commercial real estate. According to Bloomberg:
Goldman had increased its equity stakes in the Whitehall fund family Read More
The Wall Street Journal‘s Anton Troianovski and Lingling Wei run down the challenges facing Goldman Sachs’ once-ballyhood Whitehall real estate funds. The funds, named after the downtown Manhattan street near Goldman’s headquarters, have over the last few years provided the financial muscle in deals including the Helmsley Building, 245 Fifth Avenue and 417 Read More
With the announcement last week that its top seven executives would forgo annual bonuses for 2008, Goldman Sachs continues to demonstrate why it has always stood out from the rest of Wall Street as a leader that represents the best in capitalism. By giving up tens of millions of dollars in compensation, Goldman’s chief executive, Read More
Stuart Rothenberg, who has headed Goldman Sachs’ real estate investment division since 2003, announced on Thursday that he’s retiring at age 45, the Wall Street Journal reports. Mr. Rothenberg will remain at Goldman as a consultant for its well-known Whitehall family of funds. Read More
Citing their significant exposure to residential and commercial real estate, Goldman Sachs cut its rating for Prudential Financial to "sell," and its rating for MetLife Insurance to "neutral," according to Reuters:
Goldman Sachs, in a research note, cut its rating on Prudential Financial (PRU.N: Quote, Profile, Read More
Down on Wall Street, the word of the hour is “deleveraging.” In the financial markets, deleveraging is a brutal and unpleasant thing, where lots of innocents get badly hurt.
Goldman Sachs and Morgan Stanley have become plain old-fashioned bank holding companies. Lehman declared bankruptcy. The bull (Merrill) and the Bear (Stearns) have both been Read More
Here’s how you know the commercial-mortgage-backed securities market is in deep slumber: Goldman Sachs, king of the Wall Street shops, hasn’t originated a CMBS loan in nine months, according to two sources close to the bank.
It’s no secret that banks like Wachovia and Lehman and UBS are no longer issuing securities backed by Read More
Insurance giant AIG has assumed the remainder of Goldman Sachs’ lease at 180 Maiden Lane, which, at 800,000 square feet, is the largest lease transaction so far in 2008.
“We will consolidate several AIG offices in Manhattan to 180 Maiden Lane,” said a source familiar with the deal. “Seventy Pine will remain our corporate Read More