Goldman Sachs Earning
According to the Wall Street Journal, Goldman Sachs Group’s fiscal first-quarter net income rose 20% as the banking giant recovered from its first quarterly loss since going public a decade ago in the prior quarter. But the company cuts its quarterly dividend 25% to 35 cents a share and said it would sell $5 billion of common shares to raise money to repay government capital. The dividend cut will save the company more than $300 million a year. Shares slid 1.4% in late trading to $128.50.
This shows that this financial institutions know what they are meant to be doing. Before this present economic situation, they were taking unnecessary risk because it is not their money. It is other people’s money. If Goldman Sach make profit, they share it with the investors. If Goldman Sach loses, only the investors bare the burden.
In wave of this financial crises, a blogger opened a site about Goldman Sach. Goldman Sach is not happy and their lawyers have sued to take down the website. The website is GoldmanSachs666.com. Goldman Sach said that the site violates several of Goldman Sachs’ intellectual property rights, constitutes an act of trademark infringement, unfair competition and implies a relationship and misrepresents commercial activity and/or an affiliation between you and Goldman Sachs which does not exist and additionally creates confusion in the marketplace.
