Word: charityitis
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Lastly, according to Harvard law professor Allen Ferrell, who has studied corporate giving, where Goldman employees donate may matter as much as how much they end up contributing to charity. And a look at past donations suggests that Goldman and its employees will have to do a better job of...
But others say the charity plan is likely to fall short of its assumed goal: reversing a slide in Goldman's public image. That's because the amount the program is likely to generate in donations will be dwarfed by bank bonus payouts. In the next week or so, Goldman...
Under the old Bear Stearns plan, top executives were required to donate 4% of their bonuses to charity. For Goldman, that would mean a charitable donation of just over $700 million. And that's if every employee is forced to participate, which is not likely to be the case. Still...
What's more, Goldman executives are already big donors, and that hasn't done anything to stop its slide in public opinion. Under the firm's voluntary-giving plan, which was started just before the firm handed out bonuses two years ago, Goldman's top executives gave about $130 million...
San Diego, intelligence officials say, was also where al-Awlaki first made contact with jihadists. He was on the board of a charity run by a Yemeni associate of bin Laden; the FBI has said the charity was a fundraising front for al-Qaeda. Officials also say al-Awlaki met...