OTHER NEWS - March 13, 1995
<i> Times Staff and Wire Reports</i>
Goldman Sachs Profits Plunge: According to a Fitch Investors Services report, the investment bank’s net income fell 81% in 1994, confirming that last year was its worst year in memory. Fitch said profits at the nation’s biggest investment banking partnership fell to $508 million in fiscal 1994 from a record $2.7 billion the year before. “Poor global fixed-income and currency trading markets” eroded profits and caused partners’ capital to decline 4.7% to $4.77 billion, Fitch analysts said in their report.
