Goldman Sachs

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Goldman second to 1 in online employee poll

Goldman Sachs Group Inc. is the bank many Americans love to hate, but one group just plain loves it: its employees.

The firm’s employees are among the most fiercely loyal in the financial services industry, according to a survet by glassdoor.com, a career Web site. And Goldman Chief Executive Lloyd Blankfein had the highest approval rating of any CEO in the financial sector. Get the full story »

Local companies swear by different e-mail policies

Goldman Sachs might be cleaning up its potty mouth — telling workers that it’ll bar filthy language in e-mails and use software to screen for it — but some Chicago-area companies have different philosophies.

“We do not have a policy on the use of curse words in e-mails,” said Lee Mitchell, managing partner for Chicago-based Thoma Bravo LLC.

But “now that Congress’ ‘financial reform’ legislation has made us subject to SEC regulation, I guess the SEC will be telling us which words are a systemic threat to the global economy and, therefore, have to be banned,” the private equity executive cheekily added. Get the full story »

CFTC approves CME’s Green Exchange

CME Group Inc.’s Green Exchange LLC won regulatory approval as a designated contract market on Friday, adding a fourth regulated exchange to CME’s stable. Get the full story »

AIG in $725 million securities fraud settlement

American International Group Inc. has  agreed to pay $725 million to settle a long-running securities fraud lawsuit led by three Ohio public pension funds, in one of the largest class-action settlements in U.S. history.

AIG would pay $175 million within 10 days of preliminary court approval of the settlement with a class of shareholders. The company may fund the remaining $550 million through one or more common stock offerings. Get the full story »

Goldman to pay $550M in SEC settlement

Goldman Sachs has agreed to pay $550 million in a settlement with the Securities and Exchange Commission over allegations of misleading investors.

Stock options a disappearing perk

CNN | Long a popular tool for compensating employees at burgeoning start-ups and top executives at multi-national corporations, the practice of granting options to workers has increasingly fallen out of favor.

Last year, a little more than three-quarters of the companies in the S&P 1500, which tracks small- and mid-cap stocks as well as the conventional S&P 500 index, relied upon stock options to pay their CEOs. Compare that to five years prior, when that figure stood at nearly 93 percent. Get the full story »

Goldman execs grilled for taking AIG bailout money

A Goldman Sachs executive told an inquiry panel Thursday that the firm had no regrets about collecting billions of dollars in taxpayer money for correctly predicting the demise of the U.S. housing market.

David Viniar, Goldman’s chief financial officer, said Uncle Sam had an obligation to honor American International Group’s full debts. The firm was entitled to be paid $12.9 billion out of the $182 billion bailout that went to crippled insurance giant AIG — the largest federal rescue. “The government stepped into AIG’s shoes” and therefore had to honor its contract with Goldman, Viniar told the panel investigating the financial meltdown.

Even with new rules, life goes on for Wall Street

Despite historic changes to the rules on Wall Street from financial reform, banks like Goldman Sachs Group Inc, JPMorgan Chase & Co and Morgan Stanley won concessions that watered down the proposals that could have been most damaging to their profits, staving off a watershed overhaul like the one that took place after the Great Depression. Get the full story »