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Non-Tech : Goldman Sachs Group Inc. NYSE:GS -- Ignore unavailable to you. Want to Upgrade?

To: LPS5 who wrote (151)	6/24/1999 9:46:00 AM
From: Mohan Marette	Respond to of 411

Goldman Sachs Profit Is Up 30% in First Public Quarter New York Times June 24, 1999 By SHOLNN FREEMAN Goldman Sachs Group Inc. reported its first quarterly results as a publicly traded company Wednesday with a gain that exceeded analysts' forecasts. Goldman exhibited strength in market trading and investment banking in reporting second-quarter earnings of $624 million, or $1.30 a share, excluding one-time charges associated with the firm's initial public offering last month. That was up 30 percent from the $476 million the firm made in the second quarter a year earlier, calculated as if the firm was a public company last year, and well above the $1.07 consensus estimate of 11 securities analysts surveyed by the First Call Corporation, a research company. Revenue from trading and investments rose 23 percent from the quarter a year ago and 27 percent from the first quarter, to $1.7 billion, while revenue from investment banking rose 5 percent from a year ago and 11 percent from the first quarter, to $1 billion. In asset management and securities services, revenue rose to $749 million, up just 2 percent from a year ago but up 17 percent from the first quarter. "These are very strong numbers particularly because they were ahead of the first quarter, which was extremely robust in and of itself," said Joan Solotar, brokerage industry analyst with Donaldson, Lufkin & Jenrette. "But they aren't singular; other firms will report strong results as well." On Tuesday, Lehman Brothers Holdings Inc. reported second-quarter earnings that were far aboove analysts' expectations. Morgan Stanley Dean Witter & Company is expected to issue results today. Merrill Lynch & Company, Paine Webber and other brokerage firms whose second quarter ends June 30 report their results next month. Despite the strong results, shares of Goldman fell $3, or 4.4 percent, to $65. While emphasizing the firm's overall strengths, David Viniar, Goldman's chief financial officer, acknowledged the quarter's robust market. "It's impossible to disassociate our performance from the market," he said. " We took advantage of a favorable market with an excellent performance." He added, "The only thing we caution everybody about is not to annualize these numbers." Nonetheless, two analysts told First Call Wednesday that they were raising their 1999 earnings estimates for Goldman to an average of $4.34 a share from the previous estimate of $3.66 on the strength of Wednesday's numbers. In the second quarter, the firm took a $2.3 billion one-time charge associated with awarding stock to employees in connection with its initial public offering. In addition, the firm listed a $200 million charitable donation to a foundation, the Goldman Sachs Fund. Including those charges, Goldman reported net income of $340 million, or 71 cents a share. Goldman's 221 former partners own about half of the company's shares. Another 21 percent is shared by the company's 13,000 employees. The rest of the nonpublic shares are roughly split among Goldman's 125 retired partners and outside institutional shareholders. Goldman's partners ended their firm's 130-year status as a private partnership by selling 69 million shares, or roughly 15 percent of the firm, to the public. The $3.7 billion initial public offering was the largest finanical services I.P.O. ever and the second-largest United States stock offering of any kind.

To: LPS5 who wrote (151)	6/24/1999 4:29:00 PM
From: Mohan Marette	Respond to of 411

Goldman Sachs Declares Quarterly Dividend NEW YORK, June 24 /PRNewswire/ -- The Goldman Sachs Group, Inc. (NYSE: GS - news) announced that its Board of Directors has declared a quarterly dividend of $0.12 per common share to shareholders of record as of August 12, 1999. The dividend is payable on August 27, 1999. Goldman Sachs is a leading global investment banking and securities firm, providing a full range of investing, advisory and financing services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. Goldman Sachs is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world. SOURCE: Goldman Sachs Group, Inc.

To: LPS5 who wrote (151)	6/30/1999 4:31:00 PM
From: Mohan Marette	Respond to of 411

LPS5-Nice move,thank you Greenspan & Co,pheeeew!!!!<eom>

To: LPS5 who wrote (151)	7/1/1999 9:58:00 AM
From: Mohan Marette	Respond to of 411

Access One Coms Closes on Financing with MCG Credit Corp., Majority Owned by Goldman Sachs. FT. LAUDERDALE, Fla./ARLINGTON, Va.--(BUSINESS WIRE)--July 1, 1999--Access One Communications, an affiliate of Sirco International Corp. (NASDAQ:SIRC - news), and MCG Credit Corporation, majority owned by investment affiliates of Goldman Sachs (NYSE:GS - news), today announced the closing of a comprehensive agreement under which MCG will provide Access One with up to $15 million of debt capital. The capital will be used to repay existing indebtedness and to provide general working capital to support Access One's future growth. ''We are excited to be working with MCG Credit Corp. MCG has proven itself as a strong financial partner for rapidly growing communications companies,'' stated Ken Baritz, Access One's Chairman and CEO. ''We have grown Access One from 2,000 access lines to over 30,000 access lines in less than two years. With our new virtual local services network, internal billing and customer care platform, and coming deployment of Broadband DSL services, we are ready to seize significant market share in the Southeastern United States. With MCG, we have a strong financial partner that can fund our future growth.'' .......... biz.yahoo.com