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Following Goldman, Investment Banks Eye Utah
News from Businessweek:
A word of warning to Ivy League Excel jockeys heading to Wall Street: You may end up in Salt Lake City. It’s a long commute to the Hamptons, and the nightlife can be … well … sobering. Then again, think of the skiing.
Utah, already home to 5 percent of Goldman Sachs (GS) workers, is gaining momentum in its bid to be Wall Street of the West. State economic development officials say they are in advanced talks with three major banks on projects that would bring an additional 1,000 securities jobs to Salt Lake City.
For finance companies, the strategy is a classic arbitrage trade. The state offers real estate and labor well below the rates demanded in the concrete canyons of New York or other finance hubs. And, in part because a high percentage of the Salt Lake City population has completed the Mormon church’s two-year missionary program, foreign language skills are abundant. More than half of Goldman’s Salt Lake workforce is fluent in a second language.
Utah is also sweetening deals…………… continues on Businessweek
Jeff Bezos Leads $ 5 Million Investment In Henry Blodget’s Business Insider …
News from TechCrunch:
Jeff Bezos, founder and CEO of Amazon, is leading a new $ 5 million investment in Business Insider, the blog network founded by Henry Blodget that focuses on business, tech and other news. The investment was mentioned in an internal memo from Blodget to staff — published by BI itself. Other investors in this round include RRE Ventures and Institutional Venture Partners, notes Bloomberg. This brings the total investment in Business Insider, which has some 15 million monthly visitors worldwide, up to $ 18.6 million since 2008.
Bezos is a long-time investor in startups: his portfolio includes Domo, Everfi, Behance, Uber and ZocDoc, among many others. In most cases the exact values of Bezos’ own…………… continues on TechCrunch
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