Posts tagged with "Goldman Sachs"

More than 170 top U.S. business leaders urge Congress to certify Biden’s Electoral College win

January 6, 2021

More than 170 American business leaders signed a letter on January 4 urging Congress to certify the result of the presidential election without delay, Business Insider reports.

Signatories included Goldman Sachs Chairman and CEO David Solomon; Microsoft President Brad Smith;  BlackRock CEO Laurence Fink; Pfizer CEO Albert Bourla; James Zelter, a co-president of Apollo Global Management; and Lyft CEO Logan Green.

Congress is scheduled to certify the result on Wednesday, January 6—thereby confirming President-elect Joe Biden’s Electoral College victory. President Donald Trump has so far refused to acknowledge that he lost the election.

The Partnership for New York City, a nonprofit organization and major business advocacy group, published the letter on Monday. “This presidential election has been decided and it is time for the country to move forward,” the letter said. “President-elect Joe Biden and Vice President-elect Kamala Harris have won the Electoral College and the courts have rejected challenges to the electoral process.”

According to Business Insider, the leaders added that “attempts to thwart or delay this process run counter to the essential tenets of our democracy.”

Biden and Harris deserve respect and bipartisan support as America faces “the worst health and economic crises in modern history,” they said.

The letter said that Congress should certify the electoral vote and that “there should be no further delay in the orderly transfer of power.”

But at least 140 Republican House members are planning to vote against certification, two representatives told CNN last week.

Trump and other Republicans have tried to overturn the result of the election, pushing false claims of voter fraud.

Over the weekend, Trump pleaded with Georgia’s secretary of state in an hourlong phone call to “find” additional votes to overturn Biden’s victory in the state.

Biden won the 2020 presidential election with 306 electoral votes, flipping five states that voted for Trump in 2016.

Research contact: @businessinsider

Suit yourselves: Goldman Sachs relaxes dress code

March 6, 21019

Goldman Sachs Group —one of the leading investment banking firms worldwide, known for its buttoned-up, bespoke culture—announced on March 5 that it is relaxing the dress code for all of its employees, Reuters reported.

The firm, which has been in business since 1869, told employees to “suit themselves” in an internal memo to its 36,000 employees  outlining the new “firmwide flexible dress code.”

Management said the shift was due to “the changing nature of workplaces generally in favor of a more casual environment.”

The memo was signed by CEO David Solomon, a former investment banker who took the role in October;along with CFO Stephen Scherr and COO John Waldron.

Historically known as a white-shoe investment bank, Goldman Sachs traditionally required formal business attire. But since 2017, the bank began relaxing its dress code for employees in the technology division and other new digital businesses. This created a divide in the workforce as clear as denim versus pinstripes.

Like other Wall Street banks, Goldman has been competing to secure the best employees. Large technology firms and hedge funds often have more relaxed offices and perks. What’s more, over 75% of Goldman employees are members of the Millennial or Gen Z generations—people born after 1981.

“All of us know what is and is not appropriate for the workplace,” the memo reads—also reminding employees to dress “in a manner that is consistent” with clients’ expectations. “Of course, casual dress is not appropriate every day and for every interaction and we trust you will consistently exercise good judgment in this regard.”

Research contact: @eadilts