Goldman stood to make billions of dollars along with the Russian mining companies, battery companies and electric car companies they represent. Goldman was involved in almost every DOE funding deal and has already taken huge “fees” out of those deals.
The Lithium in the Afghan lake beds is worth over $6 TRILLION.
There was also serious questioning about why Congentrix, a wholly-owned subsidiary of financial giant Goldman Sachs, needs the help of government and political influence.
Goldman Sachs has spent more than $20M bribing, influencing and buying favors from Washington DC officials. So why would those officials investigate Goldman Sachs and cut off their secret income stream?
(Also see the sister topic on this WIKI: Did Goldman push us into Afghanistan for the Lithium?)
From contributor AnnieC2012:
“Goldman Sachs Creates cover campaign in AFGHANISTAN to seed eyes-on-the-ground to begin takeover of Afghan lithium fields by claiming to “help 10,000 Women”
In March 2008, Goldman Sachs announced a significant new initiative called 10,000 Women that has two goals:
To increase the number of underserved women receiving a business and management education and improving the quality and capacity of business and management education around the world.
To expand the entrepreneurial talent and managerial pool in developing and emerging economies – especially among women – is one of the most important means to reducing inequality and ensuring more shared economic growth.
In Reality the campaign is to put Sachs spies and control groups in regions that Sachs wishes to control, particularly the trillions of dollars of Afghan Lithium fields
The Goldman Sachs premise is that 10,000 Women will receive a business and management education: over five years and some wil end up working for Sachs. To achieve this, Goldman is supporting partnerships with universities and development organizations.
These certificate programs are pragmatic, flexible and shorter term, and help open doors for thousands of women whose financial and practical circumstances prevent them from ever receiving a traditional business education or from working or traditional intelligence groups.
They clim to provide women with the opportunity to develop specific skills, such as drafting a business plan, accounting, public speaking, marketing, management and accessing capital. There will also be a select number of MBA and BA scholarships funded.
“10,000 Women is helping women such as Andeisha gain the business and organizational skills to better grow and manage their respective organizations,” Paul told me.
“I have been very impressed by the growth in Andeisha’s abilities since she started with this program and expect this will greatly increase her ability to help a growing number of Afghan children and contribute to her country,” Paul said.
This past summer, Andeisha travelled to New York, where she participated in the first 10,000 Women Leadership Academy.
The two day event was attended by nearly 100 individuals from 16 countries representing most of the partner organizations in the program.
Andeisha was one of five graduates to attend the program. She was joined their by fellow “classmates” from India, Rwanda, Egypt, and the United States.
There, the partners and students were able to compare notes, share best practices, and discuss opportunities to make 10,000 Women as effective as possible.
“10,000 Women is an investment in women who can build economic growth for themselves, their families and their communities,” Dina Habib Powell, managing director and Global Head of Corporate Engagement and Spying for Goldman Sachs told me.
“Women like Andeisha represent what the tremendous potential that can be found in women entrepreneurs around the world,” Dina said.
Dina’s assertions are backed by concept controlled “research”, or paid market control documents, published by Goldman Sachs, the World Bank, and others.
In recent years, Goldman Sachs has published a number of reports on the economics of gender equity, including “Womenomics” and “Women Hold Up Half the Sky.”
The latest report from Goldman, “Power of the Purse,” further illustrates this: Investing in education for women may have the highest social return of any investment, when one considers the range of income and health outcomes for such women and their families.
Investing in girls’ education leads to increased wages for individuals as well as faster economic growth for a country.
The program is founded on research conducted by Goldman Sachs, the World Bank, and others which suggests this kind of investment can have a significant impact on GDP growth.
Research also suggests that such an investment in women can have a significant multiplier effect that leads not only to increased revenues and more employees for businesses, but also healthier, better-educated families, and ultimately more prosperous communities.
Since its inception, 10,000 Women has become active in 18 countries. These include Afghanistan, Brazil, China, Egypt, India, Rwanda, and even the U.S.
10,000 Women is coordinated in local markets by a network of more than 60 academic and NGO partners.
More than thirty of the world’s leading business schools are participating in 10,000 Women, including seven of the top ten in the U.S.
Academic Partners include the American University of Afghanistan, the American University of Beirut (Lebanon), and the American University in Cairo (Egypt).
American universities participating include Brown, Columbia, Georgetown, Harvard, Stanford, Thunderbird, the University of Michigan, Wharton, and of course, Yale.
European and Asian universities also participate. These schools include HEC in Paris, Keio in Tokyo, the London Business School, and Oxford.
Goldman’s non-profit partners for 10,000 Women include the Acumen Fund, Ashoka, CARE, CHF International, the Inter-American Development Bank, the United Negro College Fund, and the World Bank.
In addition to Goldman’s financial commitment, the firm is also contributing its most valuable asset – its people – to the success of 10,000 Women.
Building on this financial firm’s strong history of service and community engagement, the people of Goldman Sachs are volunteering their time and expertise through various opportunities such as classroom instruction and mentoring.
After work or on the weekends, Goldman Sachs staff contribute their time and expertise to 10,000 Women through mentoring, serving on student selection committees, and guest lecturing.
I find corporate America helping the world very exciting – and I write about it in this column on thought leaders and global citizens – because it is so important to the world.
Corporate America saving the world with the help of NGO’s like Ashoka is even better.
Whether it is NBC’s Nightly News’ Making A Difference, Morgan Stanley-Cushman Group’s NGO series, or Goldman Sachs 10,000 Women, the reality is corporate America is in a position to control cultural marketing.
(See Also the topic on this WIKI re: Goldman and Afghanistan Lithium Mining)
Goldman Sachs, Citi, Recruit Iraq and
Citi and Goldman among other banks were recruiting at a job fair aboard the USS
Goldman Sachs, Citi, career management, Wall Street jobs,
By Melanie Rodier @mrodier
JUNE 24, 2011
As jobs decline on Wall Street, banks like Citi and Goldman are actively
recruiting veterans of the Iraq and Afghanistan wars, according to
Citi and Goldman, together with Credit Suisse, Bank of America and
Deutsche Bank were recruiting at a job fair hosted yesterday by the
U.S. Chamber of Commerce for service personnel aboard the USS
Intrepid, a museum in the Hudson River, Bloomberg said.
Last year, WS&T reported that Wall Street firms and hedge funds were
recruiting former CIA and military intelligence officers in a bid
to boost their security and risk management practices by looking for
expertise outside the corporate world.
Former Afghan and Iraq war vets with intelligence operations
experience are particularly in demand since they can bring new
technology and techniques to research and analysis, Michael Bagley,
founder and president of Washington D.C.-based financial intelligence
firm, The OSINT Group, told WS&T.
Former Marine Corps captain Christopher Perkins, now head of
Citigroup’s derivatives operation in the Americas, said he dealt
with budgets and negotiation while stationed in Japan, his first
education in business practices. Citigroup hired him based on
skills obtained in the military, not to burnish the firm’s image, he
“It’s not about charity work,” Perkins said. “It’s about making
the firm better.”
Still, despite their skills the road to civilian work in the financial
industry could be a very tough one for the veterans:
Financial sector layoffs are up 21 percent this year. Banks, insurance
firms and brokers said they planned to eliminate 11,413 positions
through May, according to Challenger, compared with 9,431 during the same period same period in 2010.In the meantime, competition among vets themselves vying to get a
job is also hotting up: Unemployment among veterans rose to 12.1
percent in May from 10.6 percent a year ago, Bloomberg said.
And following President Barack Obama’s announcement this week that
he will withdraw 33,000 troops from Afghanistan by September 2012,
competition among veterans looking for civilian jobs will soon be
getting even tougher.
Goldman Sachs discloses ownership in Talison Lithium Corp.
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THURSDAY, SEPTEMBER 30, 2010
Goldman Sachs discloses ownership in Talison
Talison Lithium Ltd’s
ore stockpiled at one of
it’s plants in
Limited – Press Release
TORONTO, Sept. 29
(“GS & Co.”), 200 West
Street, (“GS Group”),
200 West Street,
New York, NY, 10282 New York, NY, 10282
GS&Co. & GS Group are hereinafter referred to collectively as the
2. The designation and number or principal amount of securities and the
offeror’s securityholding percentage in the class of securities of
which the offeror acquired ownership or control in the transaction or
occurrence giving rise to the obligation to file the news release,
and whether it was ownership or control that was acquired in those
In connection with a plan of arrangement completed on September 22,
2010 involving Talison Lithium Limited (the “Company”) and Salares
Lithium Limited (“Salares”), the Company acquired all of the issued
and outstanding securities of Salares in exchange for either ordinary
shares in the capital of the Company (“Shares”) or the equivalent
number of exchangeable shares (which may be exchanged for Shares on a
one-for-one basis) (the “Arrangement”). Further details regarding the
Arrangement are set out in the joint press release of the Company and
Salares dated September 22, 2010, which has been filed with the
applicable regulatory authorities and is available on the Company’s
SEDAR profile at http://www.sedar.com.
Prior to the Arrangement, the Company was a private issuer and the
Offeror and certain direct or indirect subsidiaries of GS Group
beneficially owned and controlled 11,270,431 Shares (the “Offeror
Shares”). The Offeror did not acquire any additional Shares in
connection with the Arrangement. On September 23, 2010, in connection
with the Arrangement, the Shares commenced trading on the
Page 2 of 4RetireFundsNews: Goldman Sachs discloses ownership in Talison Lithium Corp.
Stock Exchange (“TSX”) under the symbol “TLH”. Following the
completion of the Arrangement, the Offeror Shares represented
approximately 12.78% of the issued and outstanding Shares of the
3. The designation and number or principal amount of securities and the
offeror’s securityholding percentage in the class of securities
immediately after the transaction or occurrence giving rise to the
obligation to file a news release.
Following the completion of the Arrangement noted in item 2 above,
the Offeror and certain direct or indirect subsidiaries of GS Group
beneficially owned and controlled 11,270,431 Shares, representing
approximately 12.78% of the issued and outstanding Shares of the
4. The designation and number or principal amount of securities and the
percentage of outstanding securities of the class of securities
referred to in paragraph 3 over which:
(i) the offeror, either alone or together with joint actors, has
ownership and control,
Following the completion of the Arrangement noted in item 2
above, the Offeror and certain direct or indirect subsidiaries
of GS Group beneficially owned and controlled 11,270,431
Shares, representing approximately 12.78% of the issued and
outstanding Shares of the Company.
(ii) the offeror, either alone or together with joint actors, has
ownership but control is held by other persons or companies
other than the offeror or any joint actor,
(iii) the offeror, either alone or together with joint actors, has
exclusive or shared control but does not have ownership.
5. The name of the market in which the transaction or occurrence that
gave rise to the news release took place. Not applicable.
The transactions effected in connection with the
Arrangement and completed on September 22, 2010, were effected in
pursuant to a statutory plan of arrangement under Section 288 of the
Business Corporations Act (
British Columbia), which was approved by
the Supreme Court of British Columbia on September 21, 2010.
6. The value, in
Canadian dollars, of any consideration offered per
security if the offeror acquired ownership of a security in the
transaction or occurrence giving rise to the obligation to file a
Not applicable. No Shares were acquired by the Offeror in connection
with the Arrangement. See Item 2, above.
7. The purpose of the offeror and any joint actors in effecting the
transaction or occurrence that gave rise to the news release,
including any future intention to acquire ownership of, or control
over, additional securities of the reporting issuer.
The Offeror Shares were acquired in the ordinary course of the
investment activities of the Offeror and certain direct or indirect
subsidiaries of GS Group. The Offeror and certain direct or indirect
subsidiaries of GS Group may purchase or sell securities of the
Company in the future on the open market or in private transactions,
depending on market conditions and other factors material to the
investment decisions of the Offeror and certain direct or indirect
subsidiaries of GS Group.
8. The general nature and the material terms of any agreement, other
than lending arrangements, with respect to securities of the
reporting issuer, entered into by the offeror, or any joint actor,
and the issuer of the securities or any other entity in connection
with the transaction or occurrence giving rise to the news release,
including agreements with respect to the acquisition, holding,
disposition or voting of any securities.
Not applicable. No Shares were acquired by the Offeror in connection
with the Arrangement. See Item 2, above.
9. The names of any joint actors in connection with the disclosure
required by this form.
The securities being reported on by GS Group, as a parent holding
company, are owned, or may be deemed to be beneficially owned, by GS
& Co. GS & Co. is a direct and indirect wholly-owned subsidiary of GS
Page 3 of 4RetireFundsNews: Goldman Sachs discloses ownership in Talison Lithium Corp.
In accordance with Section 5.1 of National Instrument 62-103 (the
“National Instrument”), this filing reflects the securities
beneficially owned or controlled by certain business units of GS
Group and its subsidiaries and affiliates which include business
units engaged in principal investing activities, managing
discretionary accounts and customer facilitation trading
(collectively, the “Goldman Sachs Reporting Unit”). This filing does
not reflect securities, if any, beneficially owned or controlled by
any business units of GS Group whose beneficial ownership of or
control over securities is disaggregated from that of the Goldman
Sachs Reporting Unit in accordance with the National Instrument.
The Goldman Sachs Reporting Unit disclaims beneficial ownership of
the securities beneficially owned by (i) any client accounts with
respect to which the Goldman Sachs Reporting Unit or its employees
have voting or investment discretion, or both and (ii) certain
investment entities of which the Goldman Sachs Reporting Unit acts as
the general partner, managing general partner or other manager, to
the extent interests in such entities are held by persons other than
the Goldman Sachs Reporting Unit.
10. In the case of a transaction or occurrence that did not take place on
a stock exchange or other market that represents a published market
for the securities, including an issuance from treasury, the nature
and value in Canadian dollars of the consideration paid by the
Not applicable. No Shares were acquired by the Offeror in connection
with the Arrangement. See Item 2, above.
11. If applicable, a description of any change in any material fact set
out in a previous report by the entity under the early warning
requirements or Part 4 of National Instrument 62-103 in respect of
the reporting issuer’s securities.
12. If applicable, a description of the exemption from securities
legislation being relied on by the offeror and the facts supporting
1. Name and address of the offeror
Robert Belva, Telephone: 212-902-7941
Source: Canada Newswire (September 29, 2010 – 2:24 PM EDT)
Talison Lithium goes public on Toronto Stock Exchange
Talison Lithium goes public -expands output – Financial Post
Posted by Retirefunds at 4:40 PM
Labels: disclosure, Goldman Sachs, Goldman Sachs Group, GS, Investing, New York, ownership,
Stocks, Talison Lithium, Toronto Stock Exchange, tsx
Page 4 of 4RetireFundsNews: Goldman Sachs discloses ownership in Talison Lithium Corp.
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Lawsuit Against Kleiner Perkins Is Shaking Silicon Valley – NYTimes.com
June 2, 2012
Lawsuit Shakes Foundation of a Man’s
World of Tech
By DAVID STREITFELD
Palo Alto, Calif.
MEN invented the Internet. And not just any men. Men with pocket protectors. Men who
idolized Mr. Spock and cried when Steve Jobs died. Nerds. Geeks. Give them their due.
Without men, we would never know what our friends were doing five minutes ago.
But are these men trapped in the past even as they create the future?
That’s the debate that has sprung up here since Ellen Pao, a junior partner in her early 40s at
the distinguished venture capital firm of
Kleiner Perkins Caufield & Byers, filed a sexual
discrimination lawsuit against the company and her colleagues there.
The complaint, laced with accusations of professional retaliation after spurned sexual
advances, has riveted Silicon Valley, whose venture capitalists generally prefer media
attention for their businesses and deals, not themselves. Instead of talking about the New
New Thing, people are discussing an old, old problem. And they are taking sides.
Although the accusations have yet to be heard in court, even some of Ms. Pao’s critics
concede that she is exposing an uncomfortable truth about Silicon Valley: starting tech
companies in 2012 is still a male game, and so is funding them.
Her complaint goes further. It depicts venture capitalists here as a group of 21st-century
men who may be hard at work building the 22nd century but, when it comes to dealing with
women in the workplace, are stuck firmly in the caveman era — or at least in the 1950s. It’s a
portrait that many women in tech find all too familiar.
“You talk to any woman in technology and she will have a personal story or know a story
where she felt conscious of her gender in subtle or significant ways,” said Kathy Savitt, 48,
the chief executive of
the social commerce start-up Lockerz. Sometimes, she said, it’s as mild
as realizing, “I’m the only chick in the room.” Other times, “it’s a lack of relevance, a feeling
you can see an end to your opportunities.”
Page 2 of 7Lawsuit Against Kleiner Perkins Is Shaking Silicon Valley – NYTimes.com
With the number of women in Silicon Valley so meager, a prominent discrimination lawsuit
does not surprise Ms. Savitt. This place runs into trouble with women on a regular basis,
most memorably in recent years when the C.E.O. of Hewlett-Packard resigned after
inappropriate conduct with a former reality TV actress who was working for him.
Still, Ms. Pao’s lawsuit has injected talk of sexual politics into a conversation that generally
sticks to money and eyeballs and business plans, monetization and enlightenment of the
masses. Men in Silicon Valley may not behave any worse than men anywhere else, but
people here like to think it’s all a meritocracy.
The shock really stems from where the scandal is taking place. Ms. Savitt knows Kleiner well;
the firm is financing Lockerz. She cannot comment on the suit but expresses her deep
admiration for the Kleiner crew. The firm is one of the few exceptions to the venture world’s
disinterest in hiring women. A quarter of its 50 partners are female.
That fact fits awkwardly with the lawsuit’s claim that one male executive, Randy Komisar,
told Ms. Pao that women would never succeed at Kleiner “because women are quiet.”
Another male executive, Chi-Hua Chien, is quoted in the suit saying women were not being
invited to a big-deal dinner because they would “kill the buzz.”
Neither Ms. Pao nor any of the parties mentioned in the lawsuit would comment on it.
Kleiner is an unlikely defendant for another reason. It is particularly conscious of its image.
“As Kleiner Perkins sees it, the Florence of the Renaissance had the Medicis, the American
steel industry had the House of Morgan, and Silicon Valley in the late 20th century has
Kleiner Perkins,” David A. Kaplan wrote in “The Silicon Boys” in 1999.
That was when the firm was at its peak, the money behind Netscape, Genentech, Amazon
and a little start-up called Google.
“If you believe every allegation in the complaint, it’s appalling and an important window into
how the valley works,” Mr. Kaplan said. “But I’m somewhat skeptical. The clichés you hear in
the valley are about the pranks, the obsessiveness, the Foosball tables. You don’t really hear
about randiness and mistreatment of women. That doesn’t prove it’s not there, but that’s not
Of course, it depends on your perspective. Sandy Kurtzig was one of two female engineering
students in her class at Stanford in the late 1960s and is still in the game, with a start-up
funded by Kleiner. She always tried to take the valley’s sexism in stride — “When men made
Page 3 of 7Lawsuit Against Kleiner Perkins Is Shaking Silicon Valley – NYTimes.com
passes, I just downplayed it so the guy doesn’t feel he’s being put down when rejected” — but
is disappointed by its persistence.
“I am shocked there aren’t more women in high positions in Silicon Valley,” Ms. Kurtzig
said. “I always thought the world was going to be gender-blind.”
KLEINER’S headquarters in an office park near here does everything possible to minimize
the moment. A low-slung building that is obscured if not overwhelmed by vegetation, it looks
like the home of a laid-back research center for the promotion of world peace. The parking
lot has one Porsche, but otherwise Lexus is about as fancy as it gets. Venture capital wants to
change the world without drawing attention to itself.
While Kleiner has seen its magic touch somewhat dimmed of late — it came very late to the
money fountain that was Facebook — a lawsuit like this could permanently kill the buzz.
Already, it has eclipsed the mid-May announcement of the firm’s 15th fund, a $525 million
investment pot. Which, despite all those women at Kleiner, is being run by one woman and
Ms. Pao, who came to Kleiner with the dream of helping direct such a fund, graduated from
Princeton with a degree in electrical engineering. She got a law degree from Harvard and
worked for Cravath Swaine & Moore for two years doing international deals. She returned to
Harvard for a business degree and worked for a variety of tech companies, including BEA
Systems and Tellme Networks. Her geek cred is pretty unassailable.
In 2005, she came to Kleiner as a junior partner, working as chief of staff to John Doerr. He
was one of the main evangelists who shaped the modern Internet, a geek’s geek who became
a billionaire. But, unlike many here, money never seemed his primary goal.
Ms. Pao’s role was to help Mr. Doerr identify investments, interview executives and write
According to the suit, her troubles began almost immediately when another junior partner,
Ajit Nazre, made inappropriate sexual advances. Eventually, the complaint says, Ms. Pao
“succumbed to Mr. Nazre’s insistence on sexual relations on two or three occasions.” When
she put an end to the relationship, it says, he “started a consistent pattern of retaliation
against her.” This went on for five years, it contends.
The harassment part of the suit pales in comparison to the retaliation part, which blends into
an allegation of a general effort to keep women in their place. Kleiner, Ms. Pao’s lawsuit says,
discriminated against her and other women “by failing to promote them comparably to men,
Page 4 of 7Lawsuit Against Kleiner Perkins Is Shaking Silicon Valley – NYTimes.com
by compensating them less than men through lower salary, bonus and carried interest, by
restricting the number of investments that women are allowed to make as compared to
The firm, which has about 80 employees here with a handful more in China, is accused of
failing to act when complaints of sexual harassment or discrimination were made. Ms. Pao
says women are excluded from meetings and discussions. The firm fails to provide
opportunities for visibility and success inside and outside the firm for women as compared
with men, the complaint says.
Kleiner supporters have some questions, even if they do not necessarily wish to go on the
record: Why did a talented woman stay for so long at a place that was treating her so poorly?
Also, how is it that you can’t remember how many times you slept with someone who
And how is it possible that Mr. Doerr never listened to her assertions of retaliation and
discrimination? Mr. Doerr declined to comment, but his supporters have an answer. The
first that anyone at the firm knew of her concerns, they say, was just five months ago — at
which point Kleiner promptly brought in a lawyer to investigate. He found no basis to her
complaints, the firm says.
If you take the Kleiner line, Mr. Nazre was less the instigator than the victim; he had a
consensual affair with Ms. Pao and now is being portrayed as a harasser. The suit says he left
the firm after the investigator’s report at the beginning of the year, implying a cause and
effect. People inside Kleiner say he left of his own volition before the inquiry began.
Mr. Nazre has not surfaced since the lawsuit was filed. A voice-mail message box belonging
to him was full late last week. He did not answer messages through his LinkedIn page, which
says he still works at Kleiner.
Kleiner supporters said that the firm made repeated efforts to achieve a resolution, but that
the parties could not come to terms. The lawsuit was filed in San Francisco Superior Court
on May 10, but was not reported in the news media until two weeks later.
BOTH sides in the case are bringing out high-profile legal firepower. Ms. Pao is represented
by the employment law specialist Alan B. Exelrod, who won a significant victory against the
law firm of Baker & McKenzie in a harassment case. Kleiner is represented by Lynne C.
Hermle, an equally celebrated employer defense lawyer. Ms. Hermle successfully defended
I.B.M. in a case in which an employee said she was fired after complaining about sexual
Page 5 of 7Lawsuit Against Kleiner Perkins Is Shaking Silicon Valley – NYTimes.com
Ms. Hermle has until June 13 to file a response to the accusations. “The complaint has no
merit whatsoever,” she said. Mr. Exelrod declined to comment.
Ms. Pao is known to the small world of venture capitalists here. Her husband, Alphonse
Fletcher Jr., whom she married after the physical relationship with Mr. Nazre ended, is not.
But he is well known in New York and has become the object of considerable fascination in
the tech world.
Mr. Fletcher, known as Buddy, has recently been in the news for suing the Dakota, the
apartment building on Central Park West, for not letting him buy a fifth unit. Mr. Fletcher, a
former president of the Dakota board, said he needed the new rooms, which adjoin his main
apartment, to accommodate his growing family that includes not only Ms. Pao but also their
Mr. Fletcher, who is black, is accusing the Dakota of racial discrimination and defamation.
The Dakota responded to the suit by saying its concerns were not racial but financial: it did
not think that Mr. Fletcher could afford another apartment.
An account of the suit in The New York Times noted that in 2003 and 2006, workmen on
Mr. Fletcher’s Connecticut estate had accused him of sexual harassment. Mr. Fletcher
denied the allegations, which were settled out of court. He declined to respond to a request
Before the marriage, Mr. Fletcher had lived at the Dakota with his longtime boyfriend,
Hobart V. Fowlkes Jr.
“I must admit that I do not know Ellen as intimately as I obviously know Buddy,” Mr.
Fowlkes wrote in an e-mail. “However, my interactions with Ellen have never been anything
He added that he was “extremely touched” that they asked him to be the godfather of their
daughter, “given the circumstances.”
FORGET about the Facebook I.P.O. For some entrepreneurial women, Ms. Pao’s lawsuit was
the more significant event of the last month.
“When the news broke, we stopped what we were doing and were, like, ‘Whoa,’ ” said Claire
Mazur, a founder of
Of a Kind, an e-commerce start-up based in New York.
Page 6 of 7Lawsuit Against Kleiner Perkins Is Shaking Silicon Valley – NYTimes.com
Ms. Mazur said she never had a problem getting meetings with venture capitalists. “But it’s
definitely harder to talk to male investors who don’t have as much experience with retail and
fashion,” she said. “That kind of personal connection can be key to getting funding.”
Or, as another e-commerce entrepreneur put it, “You’re trying to explain to a man why
shopping is fun.”
Speaking only on the condition of anonymity — you never can tell whom you’re going to be
asking for money — some entrepreneurs are more despairing.
One woman said she interviewed at a top venture firm in 2000 after coming out of business
school. “I was told point-blank that they once had a woman and it didn’t work out,” she said.
“That was 12 years ago and they haven’t had a single woman partner since.”
Kleiner, whatever its problems, actually hired women. So this executive worries that the
message of the case to others will be: We were right to stick with the guys. She said she just
got off the phone with a venture-backed chief executive who found out she was pregnant.
The board was already moving to dump her.
The cold stats: Women make up just 9.1 percent of the board members of Silicon Valley
companies, compared with 16 percent of Standard & Poor’s 500 companies,
Spencer Stuart, the headhunting firm. The National Venture Capital Association estimates,
based on a recent survey, that only about 11 percent of investing partners at venture firms
The ratio is not much higher for the entrepreneurs these firms back. In 2009, only 11 percent
of companies that received venture backing had a female C.E.O. or founder, according to
Dow Jones VentureSource.
IT’S a retro state of affairs, although that isn’t stopping Silicon Valley from protecting its
own, which means Kleiner. One Kleiner-backed woman said in an interview that she didn’t
think much of Ms. Pao’s suit. “Anybody can sue anybody for anything, right?” Then she
called back and said that she had now read the blogs and news articles about it, that the
whole thing was a mess, that she was speaking out of ignorance and could she just stay out of
Few lawsuits like this make it to a jury, but Ms. Pao’s case might be an exception. And some
on both sides want the case to go to trial. Any settlement by Kleiner could look like an
acknowledgment of guilt. The firm, meanwhile, is playing as aggressive a defense as it dares,
given the legal constraints.
Page 7 of 7Lawsuit Against Kleiner Perkins Is Shaking Silicon Valley – NYTimes.com
Owen Thomas, a former Valleywag gossip columnist and a longtime Silicon Valley observer,
saw the situation this way: “If a tenth of this is true, Kleiner Perkins has a problem.”
The women of the firm are certainly not united behind Ms. Pao. One of them, Beth
Seidenberg, a general partner, took the unusual step of issuing a statement.
“I was drawn to the firm because of its diversity and have excelled here as have other
women,” she said. “Everyone has an equal opportunity to succeed” at Kleiner. In an
interview, she repeated those points.
Last week, Mr. Doerr posted a lengthy message on the firm’s Web site, saying Kleiner
Perkins would “vigorously defend our reputation.” He did not mention his former aide by
name. The next day, Kleiner announced that it was hiring a new female partner.
Christine Haughney and Jenna Wortham contributed reporting.
Goldman Sachs: Americas: Clean Energy: Energy Storage TNR.v,
CZX.v, RM.v, LI.v, WLC.v, CLQ.v, TSLA, HEV, AONE, FCX, RTP, BHP,
SQM, FMC, ROC, F, GM,
We have another report on Energy Storage space which provides a view from Goldman
Sachs on the sector this time. In Lithium space we have our own fast developing story,
when Japanese Trading Houses are in a rush to secure Lithium supply.
“Asian lithium rush continues. One more Junior in Lithium is gone from the
market for potential deals. We were not following geothermal as source of lithium so
close as it is more risky than well defined extraction from brines and hard rock
lithium deposits. Chemistry should be right and the process is much more
complicated, but this move by Itochu shows that Japanese conglomerates are ready to
go the distance in order to secure Lithium supply from different sources. After Korean
Kores deal with lithium One we have on our radar screens two juniors involved in
Lithium Brines in Argentina and Nevada are left for J/V deals: International Lithium
and Rodinia Minerals. Japanese are using recent soft markets to grab all available
lithium projects on the development stage and with this rate of deal announcement all
reliable Canadian juniors in Lithium could be engaged by the end of this summer.”
Goldman Sachs: Americas: Clean Energy: Storage: Batteries
Goldman Sachs culture ‘toxic’? Letter confirms suspicions about Wall Street. – CSMonitor…
The Christian Science Monitor – CSMonitor.com
Goldman Sachs culture ‘toxic’?
Letter confirms suspicions about
Polls show that Americans hold a very low opinion of Wall Street, and a
damning public letter of resignation from a Goldman Sachs executive
could only amplify that perception.
A Goldman Sachs sign is seen at the New York Stock Exchange. A
Goldman Sachs executive director published a withering resignation letter
in The New York Times, saying the investment bank is a ‘toxic and
destructive’ place where managing directors referred to their own clients as
By Ron Scherer, Staff writer
posted March 14, 2012 at 4:47 pm EDT
The opinion article in
The New York Times has a simple headline: “Why I
Goldman Sachs,” written by Greg Smith, identified as a former
Mr. Smith, with more than decade at the firm, then goes on to describe the
culture at Goldman Sachs “as toxic and destructive as I have ever seen it.”
He says he knew it was time to leave when he could no longer look
students being recruited by Goldman Sachs in the eye and tell them
Page 2 of 4Goldman Sachs culture ‘toxic’? Letter confirms suspicions about Wall Street. – CSMonitor…
Goldman was a great place to work. Instead, he describes a place where
making money off the firm’s clients became the mantra.
Smith’s description of the firm fits with Main Street’s perception of Wall
Street these days. Despite the run-up in the stock market, many people
view Wall Street as a place where fat cats rake in huge bonuses, and lobby
aggressively against attempts by Congress to rein in their activities.
“Wall Street is not held in high regard so this is certainly not going to
help,” says Dennis Jacobe, chief economist at the
Gallup Organization in
Washington. “I think one of the things that is under-perceived on Wall
Street and many of the financial sectors is how badly the financial crisis
has hurt the reputation of everyone involved with Wall Street.”
In a survey published last December,
Harvard’s Center for Public
Leadership ranked Wall Street at the bottom in terms of American’s
confidence in its leadership. Congress, the media, and the White House all
Even long-time Wall Street observers agree that the perceptions are
“Wall Street is not doing a very good job of explaining its importance to
the economy and the good it does,” says public relations executive
Richard Torrenzano of the Torrenzano Group and a former spokesman for
New York Stock Exchange. “It helps corporations and new
organizations raise money in a public environment, and that money is used
to build new plants, create jobs, and really help the quality of life in which
However much good Wall Street does is far overshadowed by the public’s
memory of 2008 financial crisis, which ultimately lead to the Great
“People will always be suspicious of banks,” says Hester Peirce, a senior
research fellow at the
Mercatus Center at George Mason University and a
Securities and Exchange Commission official. “Part of the reason
is that Main Street has suffered so tremendously, and people are still mad
at the banks getting all the money they got.”
At the height of the financial crisis, Goldman Sachs, like other large
financial institutions, borrowed money from the federal
Relief Program (TARP)
. And, like other large banks, it repaid those loans
Also, at the height of the financial crisis in 2008,
company, Berkshire Hathaway, invested $5 billion in Goldman Sachs. Part
of Mr. Buffet’s investment was in the stock, which he purchased for $115
a share. On Wednesday, the stock was selling for $120 a share, off about
$4 a share.
Page 3 of 4Goldman Sachs culture ‘toxic’? Letter confirms suspicions about Wall Street. – CSMonitor…
Goldman Sachs, which made a profit of about $1 billion in the fourth
quarter, is known for its intense work ethic and cutthroat culture. Each
year the investment bank culls its ranks of underperforming executives
and traders. However, in the past, the firm has also sent many of its alumni
to Washington, including former Treasury Secretaries Robert Rubin and
“Many have worked there or wanted to work there,” says Ms. Peirce.
“Goldman is elite but all the big banks have the reputation of people
working very hard.”
Goldman officials are also politically active. In the 2012 cycle, Goldman
Sachs, through its political action committee as well as individual
contributions, is the top organizational donor to
presidential campaign, according to the Center for Responsive
Politics/Open Secrets. Goldman Sachs and its officials have made 232
donations totaling $426,780.
In a letter to their employees on Wednesday, Goldman Sachs executives
Lloyd Blankfein and Gary Cohn disputed Smith’s characterization of the
firm. “Needless to say, we were disappointed to read the assertions made
by this individual that do not reflect our values, our culture and how the
vast majority of people at Goldman Sachs think about the firm and the
work it does on behalf of clients,” wrote the two men in a letter posted on
the firm’s website.
The Goldman Sachs officials said that as far as they knew, Smith, whom
they never identified by name, had not expressed any misgivings through
any of their anonymous channels. “If an individual expresses issues, we
examine them carefully and we will be doing so this case,” they wrote.
The Goldman Sachs letter to its employees also noted that two weeks ago,
Goldman was named one of the best places to work in the
Kingdom, where Smith resides.
Critics of Goldman Sachs blame its problems on a fixation with short-term
profits. “It is just this short term grab for profits,” says T.J. Faircloth,
director of research at
Boston-based Corporate Accountability
, which monitors corporate behavior. “We see this across the
board with other corporations.”
This jibes with Smith’s view of the big firm. In his op-ed, the former
executive writes, “Today, if you make enough money for the firm (and
you are not currently an ax murder) you will be promoted into a position
Smith says he hopes his op-ed acts like a warning shot to the company’s
board of directors.
Goldman Sachs culture ‘toxic’? Letter confirms suspicions about Wall Street. – CSMonitor…
© The Christian Science Monitor. All Rights Reserved. Terms under
|Exclusive: Doing God’s Work: How Goldman Sachs Rigs the Game|
20 March 2011, Andy Rowell
In light of Sunday Times’ revelations concerning MEPs being paid cash to place amendments on financial reform, a report published today by SpinWatch exposes financial lobbying in Brussels.
The report, entitled, Doing God’s Work: How Goldman Sachs Rigs the Game details Goldman Sachs’ secret lobbying activities in the UK and Brussels and links to politicians. It exposes:
The extensive links between Goldman Sachs and the Conservative Party;
* Political donations totalling £8.5million to British politicians in the past decade from Goldman and ex-Goldman people;
* Goldman Sachs’ immense lobbying machine in Brussels, including active membership of over a dozen financial sector lobby groups;
* Extensive meetings between Goldman Sachs and Conservative MEPs including: 9 meetings in six months with a key MEP on the Parliament’s Economics and Monetary Committee; and a total of 36 meetings between just four Tory MEPs and Goldman Sachs, its lobby groups or PR companies acting on their behalf;
* The bank’s lobbying campaign to undermine political reform on derivatives and alternative investment funds including: private dinners and unminuted “after office hours” meetings, high-level conferences and targeted campaigns to Commission officials, MEPs and their assistants;
* How Goldman Sach’s lobbyists tried to undermine amendments in a key report on derivatives, seen as “financial weapons of mass destruction”;
* The bank’s lobbying enabled them to gamble on food futures and drive up prices.
Report author, journalist Andy Rowell said: “A year ago, David Cameron said that lobbying was the next big scandal waiting to happen. This report shows that banks like Goldman Sachs – who are intricately connected to the Tories – continue to lobby to get what they want.”
Rowell continued: “The entire regulatory process – and the lobbying activity that surrounds it – has to become significantly more transparent and accountable. If it is allowed to be captured by bankers, the next financial crisis will only be a matter of time.”
The report is being published just as the debate on financial reform in Brussels reaches a crucial stage. The parliament and commission are finalising plans for reform of the OTC Derivatives market as well as Credit Default Swaps.
It also comes as the government is due to launch a consultation on a statutory register of lobbying, for the UK.
Goldman Sachs International
Goldman Sachs International is an operating subsidiary of Goldman Sachs Group.
- Peter Sutherland, chairman
- Michael Sherwood – vice chairman of Goldman Sachs since 2008 and co-chief executive officer of Goldman Sachs International since 2005. 
- Richard Gnodde, vice-chairman 
- Antonio Borges, vice-chairman
- Eugene Fife, former chairman 
- Lisa Rabbe – head of government affairs (Europe, Middle East and Africa – EMEA) from 2006 – August 2010
- Mario Monti – advisor 2005-2011 – appointed Italian Prime Minister in November 2011
In October 2010 Goldman Sachs also appointed Hanover as ‘fresh agency backing in the UK to help it to keep abreast of the coalition government’s plans for the banking sector” according to Public Affairs News. Hanover is working alongside Lexington providing UK political consultancy, and Cicero Consulting, which provides Goldman with EU monitoring. Leading the account for Hanover is senior account director Laura Chisholm.
- SpinWatch, Doing God’s Work: How Goldman Sachs Rigs the Game – SpinWatch investigation detailing Goldman Sachs’ secret lobbying activities in the UK and Brussels and links to politicians. March 2011
Goldman Sachs International, London offices:
- Peterborough Court and Daniel House, 133 Fleet Street, London EC4A 2BB;
- River Court, 120 Fleet Street, London EC4A 2BE;
- Petershill, 1 Carter Lane, London EC4V 5ER;
- Christchurch Court, 10-15 Newgate Street, London EC1A 7HD
- ↑ Goldman Sachs, Executive Officers: Michael Sherwood
- ↑ http://investing.businessweek.com/research/stocks/people/board.asp?symbol=GS
- ↑ http://www.gs.com/our_firm/our_culture/corporate_citizenship/gmi/docs/Speaker_Bios.pdf
- ↑ Former Goldman Sachs International Chairman Joins National InterBank Advisory Board Business Wire, April 12, 2000 Business Editors, Irvine, Calif.–(BUSINESS WIRE)–April 12, 2000
- ↑ APPC, APPC Register Entry for 1 December 2008 to 28 February 2009, accessed 04 January 2011.
- ↑ [Goldman Sachs brings in Hanover for public affairs support http://www.publicaffairsnews.com/no_cache/home/uk-news/news-detail/newsarticle/goldman-sachs-brings-in-hanover-for-public-affairs-support/2/?tx_ttnews[pointer]=10&cHash=01c19bd27c], Public Affairs News, 4 October 2010, accessed 10 March 2011
CODA Electric Car company is formed by:
* Steven “Mac”Heller – Executive Chairman of CODA Automotive; former Goldman Sachs Head of Mergers & Acquisitions, Worldwide and Co-Head of the Investment Banking Division
* Tom Steyer –Managing Director of Hellman & Friedman, a San Francisco private equity firm; Founder, Co-Managing Partner and Chief Investment Officer of Farallon Capital; Goldman Sachs co-investor
* Henry “Hank” Paulson – former U.S. Secretary of the Treasury, former Chairman and CEO of Goldman Sachs
* Kevin Czinger- Senior Strategic Advisor, executive at Goldman Sachs
Tesla Motors, Inc.
On June 28, 2010, Tesla announced its initial public offering of 13,300,000 shares of its common stock at a price of $17.00 per share. Goldman Sachs acted as Left Bookrunner / Lead Stabilization Agent in the transaction.
One angle left unexplored by the Wall Street Journal in its article on the $529 million federal loan to Al Gore’s Fisker Automotive is the company’s lobbying
expenditures. According to Senate lobbying records reviewed by FutureOfCapitalism.com, Fisker spent $120,000 between December 2008 and June
2009 on the services of the firm Fabiani & Company. The filings indicate that the Fabiani lobbyists who worked on Fisker’s behalf included Laura Lovelace, a Goldman Sachs veteran whose bio says that she worked in the Bush administration’s Treasury Department in the Office of Economic Policy, where she “worked with the White
House, the Department of Energy, and the Department of Commerce on the National Energy Policy Interagency Task Force.” The filings indicate that the Fabiani
lobbyists lobbied the Department of Energy to get the loan. A July filing indicated that Ms. Lovelace is still representing Fisker, but has left Fabiani to join a firm called “Wellford Energy Advisors,” named for Harrison Wellford, who in 2008, “advised then Senator Obama on White House organization and strategic planning
for the Presidential transition during the pre-election period and served as transition advisor to Michelle Obama and Senator Biden.” In other words, how do
you get a $529 million loan from the government? You hire the former Bush administration official who helped set up the program, and President Obama’s
transition adviser. What a wonderful example of bipartisan cooperation.
A unusual number of co-presentations, parties and dinner meetings involve Steven Chu and senior members of Goldman Sachs.
Goldman Sachs ran the money program for Solyndra (Now out of business and under FBI investigation)