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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, even $700 million would be far less than the $12.9 billion Goldman received when AIG was bailed out by the Federal Government. And it's a fraction of what Goldman has been making in the market at a time when the government is spending trillions to support asset prices...
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 to charity in 2008. Goldman's own foundation, which it funds with corporate profits, has about $200 million in it, making it one of the largest charity trusts in corporate America. Indeed, a plan announced a few months ago by Goldman to give away $500 million to promote loans...
...evening: "Please text 'Yéle' to 501501 to donate $5 to Yéle Haiti. Your money will help with relief efforts. They need our help." Sent from the Twitter account of Haitian-born musician Wyclef Jean, the text message went out to the singer's nearly 1.4 million followers and kicked off what has quickly become the largest text-based fundraising campaign for disaster relief in history. An American Red Cross text-donation campaign, which was launched an hour after Yéle's, had raised more than $800,000 by 3 p.m. Wednesday...
Viewers' horror and repulsion may hide a perverse envy. The cult of pregnancy today requires a lot of self-denial. Women are advised to avoid alcohol and cigarettes as well as deli meat, sushi, coffee and a million other pleasures. But the women of I Didn't Know I Was Pregnant didn't deny themselves anything during those nine months, had few if any symptoms and still wound up with perfect-looking babies! (See the top 10 medical breakthroughs...
...numbers in absolute terms remain small: only 9,000 of the 1.8 million cars sold in India last year were luxury vehicles, but so far the slow and steady approach is paying off. "For all of these companies like Rolls-Royce and Lamborghini, sales have exceeded expectations," says Blokland. "They're all very happy with the sales they've done here...