Word: goldmans
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...been on the job for decades. This amounted to an implicit clawback system, with the other partners doing the clawing. The partnership model began to break down in 1970, when upstart Donaldson, Lufkin & Jenrette sold shares to the public. Merrill Lynch followed a year later, and in 1999 Goldman Sachs was the last big firm to go public. Perhaps that was all a mistake. "It's a radically regressive idea, but I honestly think Lehman Brothers would have been better off as a partnership," says Christopher McKenna, a reader in business history at Oxford University's Saďd Business School...
...cheaper with each day. After hitting a high of $147 a barrel in July, world oil prices have crashed to their lowest levels since 2004. By Jan. 7 the cost of oil for February delivery was around $43 a barrel - less than half the price of a year earlier. Goldman Sachs last month predicted that the price could sink to as low as $30 by March. For car owners, airlines and any person or company that uses a lot of fuel, plunging gas prices provide a financial break just when it is needed most...
...warrants don't look too promising, either. The stocks of most of the banks the Treasury has invested in have fallen in the past two months, rendering the warrants worthless, at least for now. Some of the warrants may never have any value. Shares of Goldman Sachs, for instance, were trading at an average of $113 in mid-October. That means the stock would have to climb nearly 60% from its current $71 before the government would be able to turn a profit exercising its Goldman warrants...
...Since Goldman Sachs’s Jim O’Neil started promoting his dream of the BRICs—developing markets in Brazil, Russia, India and China—in 2001, Brazil has often been considered the ugly duckling of the group. Next to a former superpower and two ancient civilizations boasting over one billion citizens, the South American giant may have seemed Lilliputian. But the global economic crisis has made a huge difference. Brazil’s admirable resistance to the current turmoil vindicates its placement. It also strengthens the judgment that the B-side of the BRIC...
...can’t put the fact that you went to a house formal on your resume. “IM dodgeball” is not a marketable skill. And the people you play pool with in the basement are never going to secure you a position with Goldman Sachs...