What The Papers Say: Predictable response to Goldman Sachs offer

The proposed public offer of Wall Street’s oldest and most successful investment bank, Goldman Sachs, produced a fairly typical response in the UK’s daily press last week.

The proposed public offer of Wall Street’s oldest and most

successful investment bank, Goldman Sachs, produced a fairly typical

response in the UK’s daily press last week.



Reporting on one of the largest flotations ever, 70 per cent focused on

the rumoured pounds 60 million personal enrichment of each Goldman

partner.



Only 14 per cent addressed the underlying reasons, while eight per cent

looked at the uncertain future ahead in an industry beset by

overcapacity, consolidation and economic cycles.



Critics pointed to the disparities created by the biggest payout in

corporate history, worried that the sale would destroy the bank’s unique

culture and said that the 15 per cent offer was too little to fund a

serious acquisition.



Filing from New York, the FT’s Tracy Corrigan, Oliver August of the

Times and Wall Street Journal Europe’s Anita Rhaghavan stood out among

the more thoughtful press commentators writing for those less interested

in knee-jerk reporting and more in the future of the partnership.



Evaluation and analysis by CARMA International. Cuttings supplied by the

Broadcast Monitoring Company. ’What The Papers Say’ can be found at:

www.carma.com.



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