The Wall Street Journal reports that Morgan Stanley is expected to post a loss when it reports its first-quarter earnings later this month.
After almost two years, the website dedicated to gather information on Goldman Sachs, www.Goldmansuchs.com, has closed. The site was established by an unhappy former client of the firm.
Well, almost. The trouble is that everyone keeps expecting Goldman, that Wall Street money-making machine, to post ever-higher and higher profits. And when it doesn't happen, it's almost the end of the world. In truth, it's just the market. Trading conditions were tough in the second quarter, and Goldman has posted its first quarterly earnings fall in three years.
Remember that spat between Goldman Sachs and the adult entertainment website www.goldmansex.com ? Well, there's a follow up. And we'll leave it to Rob Muller, the site's founder, who had his original domain name snatched away from him by the US National Arbitration Forum. Rob, who runs his site from the Netherlands, dropped us a line about his latest legal problem with the Wall Street giant.
Wall Street Folly reports that Website goldmansex.com has lost its battle to retain its domain name. The US National Arbitration Forum has ruled that the domain name must be given over to Goldman Sachs, even though the services it offers (the site claims to be the largest global directory for adult entertainment) are not in any way in competition with the those undertaken by the investment bank. Goldman seems to have been concerned that clients might in some way believe that it had branched out into adult entertainment!
Thebigmoney.com reports a great story about Andrew Luan, a former CDO trader at Deutsche Bank in New York, who quit his job recently to go work as a Tour Guide around the city's financial district.
The Seattle Times reports the sad case of Raj Godhania, a former technology systems professional at Merrill Lynch, who was laid-off in January.
Reuters reports that the trustee liquidating Bernie Madoff's assets is seeking court permission to auction his Met's tickets via eBay.
The New York Times reports that Sunday Business asked information services firm Equilar to compile and analyze exectuvie compensation data from US corporate filings.
See the picture to the right (use the magnifying glass top right on the image to enlarge).
Defections become infectious.
Telling the wife that you bagged a bad bonus might be a bit of a challenge for some bankers this comp cycle, but canny males have been doing this for years (no matter how much they get paid out).
The head of U.S. tire maker Titan launched a vitriolic attack on French productivity after the country's socialist government suggested he buy a tire factory in the north of France.