You might think that the sale of a magnificent Charles Gwathmey-designed penthouse on Central Park would be as rare as spotting an Iceland Gull in the manicured greensward below. But this year two Gwathmey masterpieces changed hands. What’s more, the sellers were both Goldman Sachs men. (And, for the record, on December 17, an Iceland Gull sighting was confirmed at the Reservoir).
On New Year’s Eve, Goldman Sachs vice chair J. Michael Evans sold his Charles Gwathmey-designed Park Laurel penthouse at 15 West 63rd Street for $23.7 million, city records show. Mr. Evans slipped in just before the capital gains tax jumped up, saving him considerable cash given that he purchased the 11-room condo for just $10.3 million back in 2003 from Bradford Weston, another Goldman Sachs man.
In the end, U.S. stock markets decided to heed the storm.
The New York Stock Exchange had planned to open trading electronically while shuttering its physical trading floor. “We are open for business and at the same time acting in accordance with actions taken by the city and state of New York,” said NYSE CEO Duncan L. Niederauer said in a release yesterday afternoon.
But NYSE reversed course last night, announcing it would halt operations completely. The exchange is closed today, and may close tomorrow, “pending confirmation,” according to a release.
Nasdaq is also closed today; “it is likely that the markets will be closed” tomorrow, the exchange said in a release.
Bond markets will open, but the Securities Industry and Financial Markets Association recommended that markets close at noon today.
off the media
You know something has gone terribly wrong when Goldman Sachs is complaining about fair play.
But when it comes to Greg Smith and the “Why I’m Leaving Goldman Sachs” meme started by The New York Times in March, the investment bank has got plenty to gripe about. According to the Times’s own research, almost all Read More
Another day, another leaked passage from Greg Smith’s forthcoming Why I Left Goldman Sachs, and another issuance from 200 West St. on the credibility of Mr. Smith’s claims.
At Bloomberg Television, Erik Schatzker and Stephanie Ruhle followed yesterday’s reporting on the results of Goldman’s internal investigations (bankers like Jim Henson!), with an interview today with Edith Cooper, global head of human capital management at the firm.
It’s been a leaky week leading up to the publication Why I Left Goldman Sachs, with the firm giving guidance on the potential motivations of its former employee, and reporters getting their hands on copies of the embargoed title.
A week ago yesterday, The Financial Times reported on the results of Goldman’s internal investigation into Read More
Politico got its hands on a copy of Greg Smith’s Why I Left Goldman Sachs, and published some excerpts yesterday. There’s an allegation that the bank advised clients to buy and sell stock options on European banks amid the region’s ongoing debt crisis, so that the firm could profit by taking the other side Read More
Naval enthusiast Paul Singer of Elliott Management and secretive Mexican financier David Martinez are still battling in court, according to The New York Times. Mr. Martinez is said to have a $140 million painting by Jackson Pollock in his Time Warner Center apartment, but no one is willing to stake their name on it. Also Read More
It is one thing for a young banker to move to Williamsburg. It is an expected, if unfortunate, product of gentrification. But what does it say when a former Goldman Sachs boss and New Jersey political hand drops a million bucks on a Burg condo?
While former New Jersey governor Jon Corzine distracted himself from the whole MF Global scandal with plans for a new hedge fund (who wouldn’t like to think of making millions after you lose billions?), his former chief of staff, Goldman buddy and MF Global second-in-command Bradley Abelow decided to pick up another home, a condo on Karl Fisher Row overlooking the track and field at McCarren Park.
A lawyer for the Argentina navy told a court in Ghana it would not pay Elliott Management $20 million for the release of the ARA Libertad, a training vessel used by the South American country’s navy. Elliott, the hedge fund managed by Paul Singer, seized the sailing ship last week in attempt to make good Read More
Mr. Nice Guy?
Which is not to say that we’d expect Goldman to assign the role of chief financial officer to an executive lacking in lovable qualities, only that Harvey Schwartz is going to have a hard enough time living up to the standard set by the firm’s current CFO David Viniar, to say noting of all the nice things people are saying and writing about him.
The outpouring began last month, when Goldman announced that Mr. Schwartz would succeed Mr. Viniar at the beginning of next year. Former SEC Chairman Arthur Levitt told The Journal that the Federal Reserve would love Mr. Schwartz’s “no-nonsense demeanor and sense of humor.“ The Times called him “affable and brawny.”