Goldman Sachs reports big profit plunge (70%)

[w¡n9Nµ7 §£@¥€r 123]

Goldman Sachs reported a sharp decline in profits Tuesday .

...

Just a day after two of Goldman's peers - Lehman Brothers and Merrill Lynch - effectively vanished, Lloyd Blankfein, the company's chief executive officer ... dismissed speculation that the company might look to buy a bank in the near future.

...

The New York City-based investment bank announced before the opening bell its profits fell 70% to $845 million, or $1.81 a share, during the third quarter ending in August.

http://money.cnn.com/2008/09/16/news/compa...sion=2008091613

[GiGii 4]

AJ, too much bad news for one day. What's next Morgan Stanely?

[Trumplestiltskin 5,791]

...what happens when you build a house of cards.

[GiGii 4]

...what happens when you build a house of cards.

should've used crazy glue.

[Trumplestiltskin 5,791]

...what happens when you build a house of cards.

should've used crazy glue.

Should have built a proper house to begin with..

[IAMX 3,055]

Wooohooo! Lets do a (Great Depression)² dance.

[w¡n9Nµ7 §£@¥€r 123]

AJ, too much bad news for one day. What's next Morgan Stanely?

Ok, here's some good news. Kroger did well.

Kroger says profit rises 3.4 percent as people eat at home more often in slowing economy

http://biz.yahoo.com/ap/080916/earns_kroger.html

[GiGii 4]

...what happens when you build a house of cards.

should've used crazy glue.

Should have built a proper house to begin with..

they had one, its when they let too many yuppies into higher exec positions make stupid decisions that were geared by the monthly bonuses they received, not by long term plans.

The problems these companies face today, are all as a result of planning for a 3-6 month cycle, versus long term. Employees planned based on what their paychecks were based on.

[Peikko 1,575]

I think A.J. has an eye on purchasing some very, very cheap stocks and is creating a 'run' for his own personal gain. Give me the nod please A.J

[w¡n9Nµ7 §£@¥€r 123]

I think A.J. has an eye on purchasing some very, very cheap stocks and is creating a 'run' for his own personal gain. Give me the nod please A.J

[Trumplestiltskin 5,791]

...what happens when you build a house of cards.

should've used crazy glue.

Should have built a proper house to begin with..

they had one, its when they let too many yuppies into higher exec positions make stupid decisions that were geared by the monthly bonuses they received, not by long term plans.

The problems these companies face today, are all as a result of planning for a 3-6 month cycle, versus long term. Employees planned based on what their paychecks were based on.

With this coming on the back of Enron and that other big bankruptcy (Worldcom was it?) - it would seem that we need a better regulatory framework.