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Goldman Sachs' third-quarter profit tops $3 billion, stock slides

By Michael P. Ventura | October 15, 2009 3:34pm | Updated on October 15, 2009 4:03pm

By Joshua Williams

DNAinfo Reporter/Producer

 

Manhattan- Goldman Sachs is sitting pretty, big profits to match the new 43-story building to open this month in Battery Park City have the Lion of Wall street roaring.

The company has moved quickly repaying a 10 billion dollar government loan earlier this year while setting a record high quarterly bonus payment Bloomberg news reported.

The compensation benefit for this period per person averaged $527,192 in 2007 the benefit for the same period was $350,763.

With all of this money flowing many are being very critical of the 1 billion in tax free financing from Liberty Bonds, which is 69% of the total cost for the new building, Goldman Sachs is putting up 750,000 which is 31% of the project according to the website: goodjobsnyc.

 

Goldman Sachs posted on their website a Third Quarter earning of 5.25 per share. For the day it was mostly down around 4 dollars trading at $188.33 before close.

 

In part to allay criticism of its profits and bonuses, Goldman announced a $200 million contribution to its foundation, which promotes education the New York Times is reporting.