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Old 26-01-2010, 06:41 AM
Sandman
 
Default Goldman star Jim O'Neill attacks Man United fund raising

Quote:
Jim O'Neill, Goldman Sachs' star economist and a lifelong Manchester United fan, has declared his opposition to the club's recent bond issue despite the investment bank making millions in fees from the fund raising.

By Richard Fletcher, City Editor
Published: 26 Jan 2010


Bill Shankly once declared his disappointment with those who argued that football was a matter of life and death: "I can assure you it is much, much more important than that".
Jim O'Neill, Goldman Sachs star economist, may not have gone quite that far, but the lifelong Manchester United fan has certainly put the beautiful game above mammon. Goldman Sachs rock star, as he was recently dubbed by Business Week, has declared his opposition to the club's recent bond issue despite the investment bank making millions in fees from the fund raising.

"There's too much leverage going on with Manchester United," said Mr O'Neill, who appeared to have been caught off-guard when quizzed on the bond issue by Zijing Wu, a Bloomberg reporter, at the end of an eight minute interview on China's currency policy. "I value my long-term support for Manchester United better than anything else," said Mr O'Neill, one of Goldman's highest profile partners who is famous for making a series of prescient currency calls.
His comments could prove deeply embarrassing for the Wall street giant which shared an estimated 15m in fees and expenses with other City advisers for working on the refinancing. They come at a difficult time for Goldman Sachs, which is under fire from politicians and is yet another public relations disaster for the bank which observers believe has mishandled the financial crisis and row over bankers bonuses.
A spokesman for Goldman Sachs said that Mr O'Neill had been speaking in a personal capacity. She refused to comment further.
Meanwhile, writing in The Daily Telegraph Paul Marshall, one of London's leading hedge fund managers, calls for the "club's supporters to combine forces to return the club to where it belongs"
http://www.telegraph.co.uk/finance/n...-raising.html?
 
Old 26-01-2010, 09:00 AM
redloner
 
Default Re: Goldman star Jim O'Neill attacks Man United fund raising

http://www.utdforum.com/forum/showpo...1&postcount=11

 
Old 26-01-2010, 09:11 AM
Tumescent Throb
 
Default Re: Goldman star Jim O'Neill attacks Man United fund raising

Presumably he'll be standing down then?
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