Will Dina Powell and Goldman Sachs, Buffett team to empower small businesses?
Goldman Sachs announced Tuesday that it would spend $500 million to help small businesses as part of a program offering education, mentoring and access to capital to 10,000 firms. The effort also involves billionaire investor Warren E. Buffett, community colleges and other organizations. Goldman’s initiative comes as it tries to fight public perceptions of the firm as a greedy titan that benefited greatly from the government’s extraordinary efforts to revive Wall Street but has done little to ease the ongoing pain on Main Street. Politicians have attacked Goldman, now back to recording some of the largest profits in its corporate history, for preparing to pay billions of dollars in bonuses. The investment bank has set aside $16.7 billion during the first three quarters this year to compensate employees, up from $11.4 billion in 2008. During that time, Goldman earned $8.4 billion, primarily fueled by its trading and investments. Goldman’s announcement also comes as the Obama administrat
NEW YORK — Goldman Sachs announced Tuesday that it would spend $500 million to help small businesses as part of a program offering education, mentoring and access to capital to 10,000 firms. The effort also involves billionaire investor Warren E. Buffett, community colleges and other organizations. Goldman’s initiative comes as it tries to fight public perceptions of the firm as a greedy titan that benefited greatly from the government’s extraordinary efforts to revive Wall Street but has done little to ease the ongoing pain on Main Street. Politicians have attacked Goldman, now back to recording some of the largest profits in its corporate history, for preparing to pay billions of dollars in bonuses. The investment bank has set aside $16.7 billion during the first three quarters this year to compensate employees, up from $11.4 billion in 2008. During that time, Goldman earned $8.4 billion, primarily fueled by its trading and investments. Goldman’s announcement also comes as the Obama
Dina Habib Powell, Goldman’s managing partner in charge of corporate engagement who leads that effort, will also head the small-business initiative. … Sources: http://news.google.com/news/url?sa=t&ct2=us%2F0_0_s_0_0_t&usg=AFQjCNFOb3QI7ZuubYtzH6Q7X9CDfPgOcQ&cid=1470632047&ei=MEAES8jzJYWqmQey4Ycw&rt=SEARCH&vm=STANDARD&url=http%3A%2F%2Fwww.washingtonpost.com%2Fwp-dyn%2Fcontent%2Farticle%2F2009%2F11%2F17%2FAR2009111703983.
