From the tail of a Guardian article discussing the substantial fall in Betfair shares today:
The slump in Betfair shares is another awkward issue for Goldman Sachs, the US investment bank which arranged the gambling company's float. It touted Betfair as a high growth investment at £13.00 in October but shareholders have now lost about a quarter of their investments. The investment bank's name was also on the ticket of this year's flotations of online grocer Ocado whose shares are down 12% and technology group Promethean World where the stock has fallen by 70%. The bank insists that it has a better record on flotations than rivals.
A sample of three probably isn't a fair assessment but considering they are blamed by some as being a significant cause of the global recession, it's not doing their reputation any favours. But it cuts staff bonuses by £5k (of an average £500k), then I doubt anyone inside will care a great deal....Posted byScott Fergusonat21:28
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