Friday Links Redux
May 15, 2009
Glory Days At Goldman Again. Blankfein told his troops that if it isn’t the end of the beginning, it’s certainly the beginning of the end… at least at Goldman. The ax has essentially come to a rest, and the hangers-on can keep on hangin’. We’re guessing the investment bank will follow its longtime precedent and not just wade through this financial mess unscathed, but come roaring back as king of the castle. See story.
Taxpayers Cheer, Shareholders Jeer. The Fed’s stress tests seem to have been a boon for the little guy. Following last week’s results, spirits have been uncharacteristically buoyant… for some. The time has come to keep on keepin’ on. See story.
Mack Is Back! Morgan Stanley buried a little-noticed contract revision for chief executive John Mack into its public filing. Mack’s contract from way back when looked a whole lot different from it does now, and Michelle Leder’s excellent comparison of the two reminds us of just how glorious the glory days really were. Ancient history, dearies. See story.
Worst Way To Spend $1.45 Billion. Intel has been playing tough, and the European Commission is not amused. But really, when has the EC ever been amused? Advanced Micro Devices, the Santa Clara, California chipmaker’s only hefty rival, does it victory dance. See story.
The Stimulus Groupies Sound Off... To hear Peter Boone and Simon Johnson tell it, the Obama administration has saved the economy – and capitalism, too – in one fell swoop, with the stimulus plan earlier this year. Good hear it. But we say: Too soon to tell. See story.
Fire Everyone! A recent Booz & Company found that in the midst of all of the dislocation on Wall Street, almost no one in the executive suites got axed. That’s interesting. Comes along The Atlantic, and suggests another strategy. Everybody must get thrown. Make what you will of the strategic plan, but it’s almost an old Dylan song. See story.
Ken Lewis Fire Sale. How the mighty have fallen. Thje former BoA chairman and current chief executive has had a rough run of it. But now that he’s putting the family fort on the auction block, you gotta wonder how much longer even he thinks he can hang on for. In the meantime, anyone want to chip in for a quaint, little 5,700 square foot summer cottage? See story.
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