March 2012 Current Events: Business News
Here are the key events in business and science news for the month of March 2012.
U.S. Economy Holds Steady in February (Mar. 9): The U.S. economy adds 227,000 new jobs in February 2012. This marks the third consecutive month of job gains over 200,000. The unemployment holds steady at 8.3 percent, the same percentage as January. The report is seen as a sign that the economy in the U.S. is stable and continuing to recover from the recession.
Goldman Sachs Executive Resigns and Writes Scathing Editorial (Mar. 14): Greg Smith, a Goldman Sachs executive director of equity derivatives, resigns from the company. On the same day, his resignation letter is published in the New York Times as an Op-Ed piece. In the letter, entitled "Why I Am Leaving Goldman Sachs", Smith describes the company as a place where profits come before the interests of clients. Smith, who lives in London, blames top management for what he describes as a culture of greed within the company.