Yesterday, we discussed a number of lessons that must be learned from the financial crisis. In a “Tea with The Economist” interview shown below, a Goldman Sachs board member provides his insights regarding leadership during a crisis and financial reforms that are needed to stabilize the overall system. Bill George also comments on a variety of other topics regarding politics, business, and leadership. Read this article to view the video.
In the Fortune magazine interview shown below, Goldman Sachs CEO Lloyd Blankfein provides his insights on the overall economy, prospects for job growth, and the controversy surrounding his firm’s compensation practices. Read this article for some background information and to view the video.
In what appears to be a downgrade based mostly on a macro call for economic recovery, Goldman Sachs downgraded Wal-Mart stores today from “buy” to “neutral” and lowered the price target on the stock to $56 from $58. While I have not been able to locate the full text of Goldman’s report online, the Wall Street Journal published a couple of excerpts which I have referenced in this article.
While the strong first quarter results posted by Goldman Sachs on Monday seemed to surprise most observers, it really comes as no surprise that the firm is now seeking to free itself from the shackles of the TARP financing that it was essentially forced to accept in October 2008. The $5 billion common stock offering announced today will allow Goldman Sachs to retire part of the TARP funding, subject to government approval.