Chart usGOLD   Chart usSILVER  
 
Food for thought
The 9 scariest words of the english language : “I’m from the Government and I’m Here to Help.”
Ronald Reagan  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1294.50-0.97
Silver 19.450.01
Platinum 1435.502.25
Palladium 880.001.75
WORLD MARKETS
DOWJONES 1692081
NASDAQ 452819
NIKKEI 154533
ASX 561838
CAC 40 425424
DAX 933489
HUI 244-2
XAU 102-1
CURRENCIES (€)
AUS $ 1.4317
CAN $ 1.4572
US $ 1.3306
GBP (£) 0.8012
Sw Fr 1.2110
YEN 137.2390
CURRENCIES ($)
AUS $ 1.0761
CAN $ 1.0951
Euro 0.7516
GBP (£) 0.6022
Sw Fr 0.9102
YEN 103.1460
RATIOS & INDEXES
Gold / Silver66.56
Gold / Oil13.94
Dowjones / Gold13.07
COMMODITIES
Copper 3.100.00
WTI Oil 92.83-0.03
Nat. Gas 3.88-0.03
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
In the same category
Cost for Doing God's Work Declines from $13.2 Million to $9 Million
Published : February 06th, 2012
231 words - Reading time : less than a minute
 
    Comments    
Tweet
Keywords :   Goldman Sachs | Lloyd Blankfein |

 

 

 

 

Inquiring minds note a stunning drop in the price for doing God's Work. Last year Goldman Sachs CEO Lloyd Blankfein received a salary of a $600,000 as well as a stock bonus worth $12.6 million.

This year the base salary for doing God's work rose to $2 million, however, bonuses fell to a shockingly-low $7 million. The net effect is a decline from $13.2 million to $9 million.

That is a 30% reduction in the overall cost of doing God's work. Said Blankfein "Now I know how those in Greece feel".

For additional details, please see
Goldman’s Blankfein Awarded $7 Million in Stock for ’11. Here is one key fact from the article.

The filings don’t include how much any of the executives have been awarded in cash bonuses. Blankfein received a $5.4 million cash bonus for 2010, his first since getting about $27 million in cash bonuses for each of 2007 and 2006.

Mercy!

How can the man survive a cut like that?

Inquiring minds just may be interested in the performance that merited $9 million (plus undisclosed cash compensation, if any).

GS 2011 Stock Market Performance






Said Blankfein when questioned about plunge in share price "This just goes to show you how difficult it is to do God's work. I earned every penny."

Mish note: the quotes of course are fictional, the rest of the story unfortunately is not.

 

 

Tweet
Rate :Average note :1 (1 vote)View Top rated
Previous article by
Mish
All articles by
Mish
Next article by
Mish
Receive by mail the latest articles by this author  
Latest comment posted for this article
I'm sure Lloyd's hedge fund buddies feel bad for him. Maybe Hank P. can loan him a few mil in pocket change to get Lloyd through this rough patch. But seriously, I'm sure he has investments that more than make up for the shortfall. Read more
mrgneiss - 2/6/2012 at 1:17 PM GMT
TOP ARTICLES
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis

Mish

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. He writes a global economics blog which has commentary 5-7 times a week. He also writes for the Daily Reckoning, Whiskey & Gunpowder, and has over 80 magazine and book cover credits. Visit http://www.sitkapacific.com
Mish ArchiveWebsiteSubscribe to his services
Most recent articles by Mish
8/20/2014
8/19/2014
8/19/2014
8/19/2014
8/18/2014
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
 
       
I'm sure Lloyd's hedge fund buddies feel bad for him. Maybe Hank P. can loan him a few mil in pocket change to get Lloyd through this rough patch.

But seriously, I'm sure he has investments that more than make up for the shortfall.
OMG that's an awful haircut.
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer