Cover image for Long-term greedy : the triumph of Goldman Sachs
Title:
Long-term greedy : the triumph of Goldman Sachs
Author:
Lindskoog, Nils.
Personal Author:
Edition:
Second edition.
Publication Information:
Appleton, WI : McCrossen Pub., [1999]

©1999
Physical Description:
192 pages ; 24 cm
Language:
English
Corporate Subject:
ISBN:
9780965215374
Format :
Book

Available:*

Library
Call Number
Material Type
Home Location
Status
Item Holds
Searching...
HG2613.N54 G65 1999 Adult Non-Fiction Non-Fiction Area
Searching...

On Order

Reviews 2

Booklist Review

Few financial firms survived the fallout from the freewheeling and free-dealing 1980s unscathed. Such familiar names as Drexel Burnham Lambert and E. F. Hutton are gone. One firm, though, not only endured but actually strengthened its position. Lindskoog tells the story of the investment banking firm Goldman Sachs from the point of view of his position as a mergers and acquisition specialist at a company that hired Goldman Sachs to help fight off a hostile takeover bid. Lindskoog's massive work details how the junk bond market initially threatened Goldman, explains what tactics the investment bank developed to defend against unwanted takeovers, and shows how it in turn prospered defending its clients. Goldman Sachs is the last major investment house to retain a partnership structure. Its partners have the reputation of being single-mindedly dedicated to the firm, and Goldman itself is seen as fiercely aggressive. In voluminous detail, Lindskoog captures this corporate culture. (Reviewed Sept. 1, 1996)0965215334David Rouse


Library Journal Review

Where was Goldman Sachs during the mergers and acquisitions craze that characterized much of the Eighties? Lindskogg, an "M&A" professional himself, encountered Goldman firsthand while he worked for the Midwestern company Interlake. Goldman was retained to defend Interlake from an alleged takeover, persuading the company to leverage itself with additional debt in order to "recapitalize." The result was that Interlake came precipitously close to bankruptcy while Goldman walked away with substantial fees. Although Lindskogg's story is at times interesting, the blow-by-blow details in financial jargon become distracting. In addition, the author's explanatory footnotes are curiously free of references to interviews, sources, or bibliographic citations. A more insightful account might have explored what motivates young college graduates to join such a secretive, almost cultlike company. Readers are better served by James B. Stewart's more compelling Den of Thieves (S. & S., 1992). Not recommended.‘Richard S. Drezen, Washington Post News Research Ctr., Washington, D.C. (c) Copyright 2010. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.