January 15, 2009 at 14:00 PM EST
Quick Hits: Goldman Employees Tune In, Cash Out
Here’s hoping trickle-down economics works during the current crunch. Goldman Sachs (GS) sent a letter to about 30 000 employees saying the company is changing how it awards some stock grants and easing the rules on selling restricted shares the Wall Street Journal reports. Goldy says it’s bringing its policy on restricted stock in line with other Wall Street firms. Some employees rushed to sell their shares creating a spike in the company’s trading volume on Tuesday. The company’s shares are down about 65% from their peak in 2007 so there won’t be bushels of bucks in the transactions ...
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