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Goldman Sachs is doing its best to prove that what's good for its company is good for the rest of us. But image consultants and corporate-compensation experts say the Wall Street firm's recent moves won't quell the growing anger against the world's most profitable bank...
...latest move to rebuild its reputation, Goldman will reportedly require its executives and top managers to donate a portion of their bonuses to charity. Goldman already has a program to promote voluntary giving by the firm's partners, which was started two years ago. The new program would expand the program to more of the firm's employees, and set a mandatory floor for charitable giving. While it's rare for a company to force its employees to donate, lawyers say it is perfectly legal. Bear Stearns, which was swallowed by JPMorgan Chase at the beginning of the financial crisis...
...Goldman's reputation has been tarnished," says Goldstein. "If it is something that can elevate the stature of the firm in the public eye, then I think people...
Nonprofits, too, are likely to cheer the plan. Bradford Smith, who is the president of philanthropy-research firm Foundation Center, says Goldman's move could help service organizations at a time when many are struggling to raise funds. "Ideally, you would hope rich people would voluntarily share their wealth," says Smith. "But Goldman is leader in the corporate world, and if others follow, this could be a needed windfall for nonprofits...
...making it an important target for foreign automakers looking away from Western markets mired in global recession and whose streets are already bumper to bumper with cars. "India is one of the markets of the future," says Paul Blokland, managing director of Segment Y Automotive Intelligence, an automotive-consulting firm based in Goa, India. "Manufacturers are looking for new growth markets. They're not going to find that in Europe, the U.S. or Japan." (See the 50 worst cars of all time...