As a result of the financial crisis, Wall Street has taken a beating on reputation, on pay and on layoffs. At the same time, with a series of hot initial public offerings culminating in Facebook’s planned issue, Silicon Valley has developed a new allure.
Bad news if you work at Goldman Sachs: It’s not going to be a great bonus year. But if you own Goldman Sachs shares, you might think it should have been worse. Goldman raised the percentage of revenue it pays as compensation to employees, a.k.a. the comp ratio, to 42 percent in 2011 from 39 percent in 2010. That’s in a year when revenue fell by 26 percent.
Bill Ackman can always be relied on to provide a little excitement in investing circles. His lunchtime presentation at CNBC and Institutional Investor’s Delivering Alpha conference today will be no exception. The founder and CEO of hedgefund Pershing Square Capital Management will unveil his latest investing idea.