- 5 - mornings. Despite being confronted during this period by at least one coworker friend who was concerned about his drug use, Mark made no effort to stop abusing drugs. In 1982 and 1983, during Mark's chaotic last 2 years at Goldman, Sachs & Co., he stopped filing income tax returns. In 1981, just as his drug use was increasing and his behavior had begun to become more erratic, Mark prepared and filed a joint income tax return for himself and Marla for 1980 that included a detailed income averaging computation. Although Mark's income continued to rise in 1982 and 1983, he drew his bonuses from a pool based upon the performance of his group as a whole. The bonus growth was mainly fueled by the resurgent stock market of the early 1980's, and not by Mark's particular expertise and efforts. In 1982, over $150,000 of Mark's total compensation of $202,385 consisted of bonuses. In 1983, Mark's income grew to $441,075, although that included deferred compensation received by him when he resigned his position. Goldman Sachs & Co. earned commissions of $2.5 million to $4.5 million during 1981 to 1983 on transactions that Mark had executed. During the 1980's, Goldman Sachs & Co. promoted many of Mark's contemporaries to positions of greater responsibility, while Mark was not so promoted. He remained one of many traders who had a nominal title of vice president. His career had begun to stall. During his last couple of years at Goldman Sachs &Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011