Lloyd Blankfein Blows 77% of Last Year's Bonus On Beach House
Apparently Lloyd Blankfein wasn’t reading Dealbreaker the day we clearly laid out a bunch of alternative ways for the Masters of the Universe to spend their bonuses, back in January (the acquisition of hornymantee.com, 2 million Jim Cramer bobblehead dolls, an all-access pass to the Andrew Ross Sorkin Pleasure Palace, and so on and so forth). Radar reports that the old boy has purchased a $41 million home in Southhampton (which apparently retails for such a sizeable chunk of change because it comes with a name: “Old Trees”), on First Neck Lane.
Spread out on 10.6 acres, the estate boasts a clay tennis court, an ocean-view swimming pool, 13 bedrooms, a “cottage” (with its own pool) and a “barn” for entertainment. Stephen Schwarzman couldn’t be reached for comment, because he’s in the midst of planning a surprise hostile takeover of the property. On a related note, Tom Hudson has just agreed to go in on a summer share in hell.
Comments
So according to Slate's anti-capitalist investment advice, this is a screaming sell signal for GS. http://www.slate.com/id/2162989/
But then that would be like trusting Worker's World BusinessWeak.
Posted by: Bulging Bracket | March 30, 2007 02:17 PM
Riddle me this...
Posted by: The Riddler | March 30, 2007 02:21 PM
You mean Schwarzman would be planning takeover, except that post-IPO such frivolousness and risky investing will no longer be acceptable.
Posted by: BSD | March 30, 2007 03:03 PM
it s probably closer to 100% of his bonus after taxes...but then again he probably got a mortgage so its not nearly as much in terms of cash out of pocket. still plenty of money for lloyd to spend on helicopter trips to get him out to that lovely cottage without sitting in traffic.
Posted by: arbman | March 30, 2007 03:14 PM