Jon Winkelried - Goldman Sachs

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I think Jon Winkelried is someone with great passion for the company. Goldman Sachs is suffering due to the financial crisis and their share price is decreasing. The four top men of the company know they only can save Goldman Sachs from bankruptcy by finding investors. And by finding Warren Buffet it is their only way to survive even though it brings high restrictions with it; they need this deal. A deal with Warren Buffet would also inspire the market – other investors. It would be unthinkable for Goldman Sachs not to accept this deal However these high restrictions of the deal would bring Winkelried personal in big problems due to financial problems; he is running out of cash. Although he does not have debt, most of his money is within stocks. This deal would mean he couldn’t sell a significant amount of his stocks to raise personal capital he needs for personal activities. Furthermore he also would like to leave the company. He knew this deal was everything for the company and would make his personal situation more difficult. Winkelried is one of the top managers and he could have had the possibility not to agree upon the deal. Within his interest it was better not to agree and the fact that he wants to leave the company could be a reason not to act within the interest of the company but what is better for Winkelried himself. But Winkelried agreed and by doing so he showed that he is acting within the interest of the company and not following his own interest. By doing he eliminated the agency problem: the conflict of interests between managers and shareholders. That shows Jon Winkelried is a very good manager that will always act within the interest of the company he works

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