Goldman Sachs

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Goldman, Morgan Stanley may lead Groupon IPO

Groupon CEO Andrew Mason speaking in August 2010 at Groupon's headquarters, 600 W. Chicago Ave. (Brian Cassella/Chicago Tribune)

Groupon is likely to pick Goldman Sachs and Morgan Stanley to lead a second-half initial public offering that could value the fast-growing daily deals site at $15 billion to $20 billion, a source familiar with the matter said on Thursday.

Groupon could raise as much as $1 billion in the IPO, which could come in the second half of 2011, although the exact size had not yet been determined, said the source, who was not authorized to speak to the media. Get the full story »

Oil slumps on Goldman warning, demand fears

Crude fell more than $3 on Tuesday as Goldman Sachs warned again of a price reversal and key forecasters said expensive oil could erode demand. Get the full story »

5 top Goldman execs took home $69M in ‘10

Goldman Sachs Group Inc.  paid its top five executives a total of $69.6 million in cash and stock last year as the firm rebounded from the austerity imposed during the financial crisis.

That is up from total 2009 compensation for the five of $5.3 million, according to the firm’s annual proxy filing on Friday. Get the full story »

Facebook exec fired for stock acquisition

Facebook Inc. fired a senior manager for buying shares of the social networking powerhouse in a private, secondary-market transaction last September — four months before Goldman Sachs Group Inc.  announced its investment in Facebook, the Web site TechCrunch reported Friday, citing multiple sources. Get the full story »

Dunkin’ Donuts parent eyes IPO

A Dunkin' Donuts in Posen, Ill. (Zbigniew Bzdak/Chicago Tribune)

Private equity-backed Dunkin’ Brands Inc. is considering an initial public offering of about $500 million in the second half of 2011, sources familiar with the situation said.

The IPO could be as large as $750 million, one of the sources said. Two or the sources said that there is disagreement among the sponsors over the company’s valuation. All of the sources said the discussions are preliminary and could change. Get the full story »

Ex-Goldman programmer gets 8 yrs for code theft

A former Goldman Sachs Group Inc computer programmer was sentenced to eight years in prison on Friday for stealing secret code used in the Wall Street bank’s valuable high-frequency trading system.

Sergey Aleynikov, was arrested by the FBI and charged in July 2009 with copying and removing trading code from Goldman before taking a new job at Teza Technologies LLC, a high-frequency trading startup firm in Chicago. Get the full story »

Sara Lee, Mead Johnson may sell soon: Goldman

From Bloomberg | Goldman Sachs analysts named a group of companies Friday that they said have at least a 30 percent chance of being sold in the next 12 months. The list includes Downers Grove-based Sara Lee Corp., Glenview-based Mead Johnson Nutrition Co. and Allergan Inc.

Goldman cuts 5% of trading desk

Goldman Sachs Group laid off 5 percent of its trading desk staff on Tuesday as part of its annual review process, sources familiar with the matter said on Thursday. Get the full story »

Ex-Goldman director accused of insider trading

Former Goldman Sachs board member Rajat Gupta is being accused by regulators of passing along inside information about the bank to a prominent hedge fund manager.

Ally reportedly picks IPO underwriters

Ally Financial, the former General Motors finance arm that was bailed out by U.S. taxpayers, has selected four investment banks to handle an initial public stock offering.

People familiar with the plans say the stock sale will be led by Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley. The people spoke Friday on condition of anonymity because they were not authorized to speak publicly about the plans. Get the full story »

4Q profit falls 53% at Goldman

Fourth-quarter profits at Goldman Sachs Group Inc. fell 53 percent as trading revenue tumbled, dashing hopes that the Wall Street bank had bucked a tough market climate that hurt its rivals.

Bond trading revenue, including commodities and currencies, slid 39 percent from the third quarter as worries about European sovereign debt and rising U.S. Treasury yields kept investors on the sidelines. Get the full story »

AIG names banks to manage sale of U.S. stake

AIG chose Bank of America, Deutsche Bank AG, Goldman Sachs Group Inc. and JPMorgan Chase & Co. to manage the sale of the government’s 92 percent stake in the insurer, a person familiar with the situation said on Tuesday.

Sources have said that the process likely will begin with a secondary offering in May that could be one of the 10 largest in history. The government is expected to sell at least $15 billion in AIG shares then, and the company is expected to sell another $3 billion.

Goldman to sell Facebook shares abroad only

Goldman Sachs has decided to limit its private placement of Facebook shares to investors outside the United States, citing “intense media coverage,” according to the investment bank. Get the full story »

Goldman’s Blankfein pitches for Groupon’s IPO

Goldman Sachs Chief Executive Officer Lloyd Blankfein went to Chicago to pitch Groupon executives on hiring his bank to underwrite the online coupon company’s initial public offering, Bloomberg reported on Friday.

The report was attributed to a single unnamed source. Get the full story »

Goldman Sachs vows to boost disclosure

Goldman Sachs took a step toward greater transparency Tuesday by pledging to disclose more about how it makes money, seeking to rebut criticism that it has been putting its own interest ahead of clients. Get the full story »