A.E. Feldman Blog

Goldman Sachs beat analysts’ estimates in the second quarter as gains in asset management and prime brokerage help to boost profits. The firm reports that net income dropped 11% percent to $2.09 billion in the three months ended May 30, surpassing expectations. Goldman Sachs’s prime brokerage and asset management divisions share some credit for that. [...]

The need to repair the nation’s crumbling infrastructure increases with each passing day. Cash-strapped state and local governments are desperate for new sources of funding since the old ways of financing and constructing public facilities through bonds and taxes is no longer equal to the task. That’s because the infrastructure gap is huge… and growing. [...]

The majority of jobs are found through networking - especially in a slowing economy. Utilizing professional connections and personal relationships have become an essential part of the job search process. And without those relationships, the chances of getting hired are slim to none. Complicating matters, the higher you go in the pyramid, the fewer jobs [...]

Fair value accounting has been blamed for exacerbating the credit crisis – mainly for its contribution to billions worth of dollar writedowns. Also known as FAS 157, the measure forces companies to use complex methods to assign a value to an asset based on what the current market would be willing to pay for it. [...]

Poor risk management at top U.S. investment banks resulted in top execs missing the impact of valuation declines and liquidity shortages, said Scott Polakoff, Deputy Director of the Office of Thrift Supervision (OTS), in prepared testimony at a recent Senate Banking Committee hearing. “The risk management frameworks in place at these firms and others across [...]

Cash-strapped federal and state governments are increasingly looking to private capital to supplement public funding for desperately needed infrastructure projects. The Organization for Economic Co-Operation and Development (OECD) says the world economy is expected to grow on average at close to 3% per year to 2030. The group warns that the fast pace of global [...]

Law firms following the money are ramping up their clean-tech practices. Despite the slowing economy, venture capitalists are still pouring money into clean energy technologies, such as wind, solar power and fuel cells. Now, as the amount of capital invested in green technologies continues to grow, a number of law firms have already begun strengthening [...]

Amid increased scrutiny and regulation, the internal audit profession has grown dramatically in the last several years. The Institute of Internal Auditors (IIA) reports that membership in the organization, which spans 165 countries, has increased a staggering 58% over the past four years to more than 150,000 professionals. According to the IIA, studies have also [...]

Concerns over climate change and rising oil prices have made reducing energy consumption and emissions a priority for businesses and governments around the world. On Wall Street, there is a “green” revolution under way, as a growing number of firms implement initiatives to decrease their carbon footprint according to SecuritiesIndustry.com. Citigroup, Wachovia, Barclays and Washington [...]

Lehman Brothers has reshuffled top execs as the banks’ risk management is called into question. The embattled investment bank has replaced both its chief financial officer and its chief operating officer. The moves are the latest in a wave of management changes on Wall Street as banks continue to suffer heavy losses on mortgage assets [...]