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17 Nov 2008 23:50
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You are right Sir, next falling target may be Rs.515/-....
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17 Nov 2008 23:22
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You are right Ashish. Its time of Rs.200/- in short term....
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Happy seeing you are doing really good. well done & keep posting....
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For 5 years view...Target: Rs.400/- to Rs.500/-. Expected EPS in 2013 is Rs.50 & assumed P/E is 8 or 10 times.

Company is expanding & will grow from next fiscal. Management is loyal. Plans are extraordinary...

Suggested to accumulate from Rs.50/- (or below).

Take the best decision....
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Mon, Nov 17 10:06 AM

Goldman Sachs Group Inc said on Sunday its Chief Executive Lloyd Blankfein and six other top officials will not get bonuses for 2008.

Blankfein, Presidents and Co-Chief Operating Officers Jon Winkelried and Gary Cohn, Chief Financial Officer David Viniar, and three vice chairmen -- J. Michael Evans, Michael Sherwood and John Weinberg -- asked the board`s compensation committee Sunday morning that they not receive a bonus, spokesman Lucas van Praag said.

The compensation committee met and agreed, Praag said.

The executives will only be eligible for a base salary of $600,000 each, the `Wall Street Journal` reported.

Last year, Blankfein made $68.5 million, Winkelried and Cohn got $67.5 million, and Viniar got $57.5 million. The compensation of the other three was not disclosed.

New York Attorney General Andrew Cuomo said Goldman had taken "an important step in the right direction."

Last month, Cuomo warned Goldman and eight other banks getting US government money in the first round of capital injections under the $700 billion Troubled Asset Relief Program that using the funds for bonuses might break state law.

"This gesture by Goldman Sachs is appropriate and prudent and hopefully will help bring Wall Street to its senses," Cuomo said in a statement on Sunday. "We strongly encourage other banks to follow Goldman Sachs` step."

Goldman`s move comes as the global credit crisis leads to big losses and erodes profit for banks and securities firms.

Banks worldwide have fired more than 150,000 people since the crunch began. Goldman recently fired 3,200 employees, or 10 per cent of its global workforce.

Goldman became a bank holding company regulated by the Federal Reserve in September, along with Morgan Stanley, after Lehman Brothers failed, Merrill Lynch agreed to be bought as financial markets went into turmoil.

On September 16, Goldman posted a 70 per cent drop in quarterly profit, its biggest earnings decline since going public in 1999, as the worst market slump in decades led to weaker-than-expected revenue.

Several analysts expect the company to post a fourth-quarter loss, which would be its first ever as a public company.

Its shares are down 69 per cent so far this year....
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Nov. 17 (Bloomberg) -- Citigroup Inc., the U.S. bank with the most employees, plans to eliminate more than 50,000 jobs and cut expenses by 20 percent from their peak as the global economy contracts.

Chief Executive Officer Vikram Pandit intends to reduce headcount by about 14 percent to 300,000 in the ``near term,`` according to a presentation on the firm`s Web site today. Pandit has already cut 23,000 jobs, leaving the New York-based bank with 352,000 employees as of Sept. 30.

Citigroup slumped 19 percent in New York trading last week and is down 68 percent this year, after four straight quarterly losses totaling $20 billion. The fourth-biggest U.S. bank by market value will probably post a loss of about $187 million for the fourth quarter, analysts surveyed by Bloomberg estimated.

``Continued asset and expense reductions, while positive, are indicative that the operating environment has been and is expected to continue to be challenging,`` Barclays Capital analyst Jason Goldberg said today in a report.

Citigroup declined 57 cents, or 6 percent, to $8.95 in composite trading on the New York Stock Exchange at 10:31 a.m., the second-worst performance behind BB&T Corp. on the 24-company KBW Bank Index.

Annual expenses will fall to about $50 billion in 2009, according to today`s presentation. Expenses in the past four quarters totaled $62 billion.

Job Cuts

Banks and brokerages worldwide have shed more than 200,000 jobs since the subprime mortgage market`s collapse last year sparked a credit crisis. Goldman Sachs Group Inc., which converted last month from the biggest U.S. securities firm into a commercial bank, began earlier this month telling about 3,200 employees, or 10 percent of its workforce, they were out of a job, according to a person familiar with the decision.

Citigroup, Goldman Sachs and rivals such as Merrill Lynch & Co. have been reducing staff as the revenue outlook dims for banks and securities firms.

(Source: Bloomberg)...
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