Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Archive for 4. Februar 2020

Goldman Sachs: How the mighty Goldman has fallen

Posted by hkarner - 4. Februar 2020

Date: 30‑01‑2020

Source: The Economist

The bank’s search for a new identity captures the changes in global banking

In its prime Goldman Sachs was exceptional. Fifteen years ago, just before the global financial crisis, the bank easily outshone its Wall Street rivals—winning the most lucrative deals and making the most profitable trades. It printed money, both for shareholders and employees. Although the crisis imperilled the firm along with the rest of the banking industry, it navigated the chaos relatively well. Success allowed it to be haughty—while other banks engaged in the grubby game of sucking up to investors, Goldman remained secretive and enigmatic.

How times have changed. This week the firm held its first investor day, led by David Solomon, who took over as chief executive last year. It comes after a long period of underperformance. A dollar invested in Goldman in 2010 would be worth just $1.60 today. A dollar wagered on the s&p 500 would be worth $3.60, and on JPMorgan Chase, $4.10. Goldman has become a laggard. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , | Leave a Comment »

Deutschland AG rethinks workers’ role in management

Posted by hkarner - 4. Februar 2020

Date: 02‑02‑2020

Source: The Economist

As the idea of “co‑determination” gains fans elsewhere, its birthplace is having second thoughts

One hundred years ago, on January 13th 1920, thousands took to the streets of Berlin, waving red flags and chanting slogans demanding more power for workers as lawmakers in the Reichstag debated a bill on works councils. Placards called, in Gothic script, for volle Mitbestimmung. The “full co‑determination” the protesters desired amounted to nothing short of an equal say for workers and bosses in company management. The security police killed 42 and injured more than 100 in the young Weimar Republic’s bloodiest episode to date. Friedrich Ebert, the president, declared a state of emergency.

In the past century German bosses, long opposed to the idea, have made their peace with it. Co‑determination has become a defining feature of German capitalism. And an appealing one, across the West’s political spectrum. France’s centrist president, Emmanuel Macron, mutters about wanting more of it. Theresa May set up a commission to look into how it might work in Britain while she was the Conservative prime minister. Most volubly, Elizabeth Warren, a progressive senator from Massachusetts vying for the Democratic presidential nomination, has a bill that would, among other things, reserve 40% of board seats of companies with revenues over $1bn for workers’ representatives. Many Americans wouldn’t mind; Civic Analytics, a data firm, finds majorities of both Democratic and Republican voters in favour of allowing employees at big firms to elect representatives to the board of directors. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , | Leave a Comment »