• Business Insider obtained a memo that Goldman Sachs sent to employees on Thursday. 
  • It details the bank’s reopening and testing strategy as it brings workers back to offices. 
  • Between 15 and 20% of Goldman Sachs employees have already returned to the office, Business Insider has learned.
  • Goldman’s plan — our best look yet at a big bank’s strategy — involves using three kinds of coronavirus testing: antigen, PCR, and antibody.
  • Do you have information about companies’ reopening strategies? Reach out to this reporter at [email protected] or through Signal/text at 1-252-241-3117.
  • For more stories like this, sign up here for Business Insider’s daily healthcare newsletter.

Business Insider has obtained a Goldman Sachs memo that sheds new light on how the marquee Wall Street firm is bringing employees back to the office.

The memo is dated October 8 and lays out the testing strategy that Goldman is using as one of the first major companies to bring white-collar employees back to physical offices. Between 15 and 20% of Goldman Sachs employees have returned to the New York office, according to a person familiar with the matter.

In it, the company details three kinds of tests it’ll use, plus its rules on social distancing, mask-wearing, and contact tracing. For New Yorkers in particular, Goldman is standing up an in-person screening service too.

Wall Street wants to get back to the office

Large banks have put stakes in the ground over this issue of working from home versus returning to the office. Executives are asking workers to come back to the office, The New York Times reported last month, if only for some days of the week or month. Some of them seem worried about degraded office culture, which in finance typically includes long hours and time spent face-to-face, and dwindling productivity during these

The WisdomTree LargeCap Dividend ETF (NYSE:DLN) is meant to track the performance of the largest U.S. dividend-paying stocks. The allure here is that companies able to regularly distribute payouts to shareholders generally present stronger fundamentals with lower risk and potentially higher total returns. Indeed, the fund has a value-tilt while offering a 2.7% yield which is attractive relative to the broader equity market. While the fund benefits from a portfolio built around high-quality stocks, DLN suffers from what we view are structural weaknesses in dividend weighted index tracking methodology. The combination of disappointing performance history and poor risk profile, despite similar exposure to broad index funds, limits DLN’s value in the context of a diversified portfolio. We recommend investors avoid this strategy and look for alternative dividend-focused ETFs.

(Source: finviz.com)

DLN Background

DLN is designed to track the ‘WisdomTree U.S. LargeCap Dividend Index’ comprised of the 300 largest companies ranked by market capitalization. An important aspect of the tracking index methodology is that holdings are dividend-weighted, which reflects the proportionate share of the projected aggregate year-ahead cash payout for each underlying company based on the most recent distribution.

The result is that Apple Inc. (AAPL) which only yields 0.7%, but distributes over $14 billion in total annual dividends, and Microsoft Corp. (MSFT) paying out $15.1 billion in dividends are the two largest current holdings of the fund. Separately, a high-yield stalwart like AT&T Inc. (T) with a 7.25% yield is among the top holdings as the company’s annual cash distribution of $14.9 billion over the past year is also among the largest in the market.

(Source: data by YCharts/ table by author)

WisdomTree explains that this methodology has the effect of tilting the total return profile of the fund towards dividends and a value equity factor by favoring companies with

Happy Wednesday and welcome back to On The Money. I’m Sylvan Lane, and here’s your nightly guide to everything affecting your bills, bank account and bottom line.

Donald Trump wearing a suit and tie: On The Money: Trump gambles with new stimulus strategy | Trump cannot block grand jury subpoena for his tax returns, court rules | Long-term jobless figures rise, underscoring economic pain

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On The Money: Trump gambles with new stimulus strategy | Trump cannot block grand jury subpoena for his tax returns, court rules | Long-term jobless figures rise, underscoring economic pain

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THE BIG DEAL-Trump gambles with new stimulus strategy: President Trump is taking a huge political and economic risk by walking away from negotiations with Democrats on a coronavirus relief package just four weeks before the election.

Trump on Tuesday abruptly put a halt to talks between Treasury Secretary Steven Mnuchin and Speaker Nancy Pelosi (D-Calif.) until after Election Day, accusing the Democratic leader of not negotiating in “good faith” despite some signs of progress between top negotiators in recent weeks.

The president later relented somewhat, urging Congress to send him smaller stand-alone bills based on areas of broad agreement instead of a sweeping measure sought by Pelosi and Mnuchin. But Trump’s approach has frustrated Republicans and business groups and thrust the prospect of future assistance into further uncertainty.

“The economy as a whole is not making a lot of progress,” said Claudia Sahm, a former senior economist and research director at the Federal Reserve. “There are real human costs – today and years from now – of not sending money out and turning it into a political battle,” Sahm added. The Hill’s Morgan Chalfant and I

Mercedes-Benz leadership team today unveiled a new long-term strategy outlining the brand’s plan for the next decade. The plan emphasizes six strategic pillars.

Screen Shot 2020-10-06 at 9.10.19 PM

In terms of electric vehicles, Mercedes-Benz says, “Our aim is to lead in electric drive,” adding that, “We will build the world’s most desirable electric cars.” Mercedes plans to do this through dedicated EV architectures for both large and compact/mid-size vehicles.

Screen Shot 2020-10-06 at 9.14.32 PM

However, when discussing the platforms in today’s presentation, Mercedes-Benz COO and head of R&D Markus Schäfer said, “We can fit an ICE engine in the front of the car if we need to, for as long as the market demands it,” demonstrating the brand’s hesitancy to overcommit to fully-electric vehicles. “This is a great economic equation,” Schäfer added.

Mercedes is targeting more than 50% of their vehicle production to be electrified by 2030, though they include plug-in hybrids in that total.

Screen Shot 2020-10-06 at 9.20.13 PM

Overall, improving profitability on their existing lineup and with their new models is a focus for Mercedes. As the industry goes through a period of transition, it may be difficult to manage to such a goal while also investing enough in new technology to compete with expanding offerings from Tesla and others.

For complete analysis of the strategy update as well as news and analysis on Tesla, please see the included video.


  • 0:16 TSLA stock update
  • 1:00 Made-in-China Model Y production plans
  • 4:57 Tesla & BHP talk nickel supply
  • 6:04 Discussing Tesla’s PR strategy
  • 10:02 Chamath Palihapitiya talks Tesla
  • 11:39 Polestar 2 EPA rating
  • 12:59 Mercedes strategy update

Be sure to follow Tesla Daily on The Street for the latest on Tesla.

Disclosure: Rob Maurer is long TSLA stock and derivatives.

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Unlike other major purchases in life, families know little about what they will actually pay for a college education when they begin the search.

Without clarity on the eventual price, families think more about the academic and social fit of campuses rather than the financial fit. They believe, often incorrectly, that they can figure out a way to pay the cost through a combination of scholarships, loans, and savings. After all, they’ve heard that every school offers a discount to entice you to enroll (hint: they don’t).

As a result, emotions steer choices, and many wind up disappointed when the hoped-for financial aid doesn’t materialize.

During the year I spent inside the admissions process, what I came to see, and prospective students and their families should too, is that colleges are either “buyers” or “sellers” of spots in the freshman class.

Sellers are the “haves” of admissions. They have something to sell that consumers want, typically a brand name that signals prestige in the job market and social circles. They are overwhelmed with applications, many from top students. Their admissions officers see their role as gatekeepers. You’ve heard of these places: Stanford University, Amherst College, Yale University, among others.

The buyers are the “have-nots” in terms of admissions—although they might provide an excellent undergraduate education. They may lack national reputations or have much smaller endowments. Rather than select a class, their admissions officers must work hard to recruit students to fill classroom seats and beds in dorm rooms, so they offer coupons on tuition called “merit scholarships” no matter your family’s income.

You’ve heard of some quality schools—Clemson and Syracuse universities, for instance— but perhaps not others, such as Elon University in North Carolina and Rollins College in Florida.

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Video: Central Dauphin School District will return to