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I used to work at Goldman. Some of the issues involved in the discussion
over going private have been:
1) Goldman is still a partnership, and all partners have unlimited
liability. Some of the partners remember how close Goldman came to
closing its doors when Penn Central defaulted, and Goldman was its CP
dealer.
2) As the firm continues to grow, it becomes harder to maintain its flat
organisational structure
3) One area where Goldman is weaker than it would like to be is fund
management. It is hard to acquire companies without stock to use as
cheap currency.
4) Yes there is a 'sell high' factor here.
Just my opinion
Dan Goncharoff
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