To: John Pitera who wrote (10538 ) 11/12/2008 7:06:11 PM From: John Pitera Read Replies (1) | Respond to Goldman seeking shelter from storm??will attempt another fund raising ahead of its fourth quarter results next month . The shares hit a five-year low, down 8.5 per cent to $71.21, on Monday after analysts at Barclays became the latest to forecast a Q4 loss for Goldman, citing in part its exposure to private equity. They were already diluted just six weeks ago by an offering that coincided with a sale of a convertible preferred stake to Warren Buffett, as John Carney notes on Clusterstock.Sumitomo Mitsui Financial Group about a possible investment - another attempt that has so far gone nowhere. That was the month that CEO Lloyd Blankfein called Vikram Pandit, his Citigroup counterpart, to discuss his proposal of a merger. As the FT reported, “the conversation was brief as Mr Pandit rejected the proposal at once”.$5 billion of expensive convertible preferred to Warren Buffet . The firm also increased a common stock offering Wednesday to $5 billion at $123 a share, an increase from the original $2.5 billion offering announced earlier. Those new shares are now deeply underwater.Goldman’s market cap is just $8 billion more than the total amount of new money it has taken in since September. where the bank laid off 10 per cent of its investment bankers including 10 from its mergers and capital markets teams — including one of Japan’s top women bankers, Naomi Matsuoka, who led the equity capital markets team.
