Ed Goldman Sachs screw us some more!

[Dog Town]

http://www.reuters.com/article/2011/07/28/us-lme-warehousing-idUSTRE76R1O120110728

The derelict neighborhood off Michigan Avenue is a sharp contrast to Goldman's bustling skyscraper headquarters near Wall Street, but the two operations share one important element: management by the bank's savvy financial professionals.

A string of warehouses in Detroit, most of them operated by Goldman, has stockpiled more than a million tonnes of the industrial metal aluminum, about a quarter of global reported inventories.

Simply storing all that metal generates tens of millions of dollars in rental revenues for Goldman every year.

There's just one problem: only a trickle of the aluminum is leaving the depots, creating a supply pinch for manufacturers of everything from soft drink cans to aircraft.

This company is good at making tons of money. Sadly they don't care how. I'm aware it's legal, but it still SUCKS!



ETA: Can a MOD edit the title to read screw?

ETA2: Thank you!

 

[psionl0]

I bet Goldman Sachs wouldn't be anywhere near as good at making money as this company is if it wasn't for the government bowing and fawning and sucking up to the banks.

 

[patchbunny]

Anyone told the local homeless yet? They'll have those warehouses emptied out and the stuff turned over to scrap metal dealers by the following morning.

 

[Dog Town]

Anyone told the local homeless yet? They'll have those warehouses emptied out and the stuff turned over to scrap metal dealers by the following morning.

Now that's something, I might be interested in!