‘Occupy’ versus Goldman (Infrastructure)

When the “Occupy Wall Street” movement began in September last year, Goldman Sachs Group emerged as a target; the investment bank has, after all, been identified by opponents as a symbol of all that’s wrong with the capitalist system.

By December, Occupy had broadened its scope: while Goldman Sachs was still a preferred object of scorn, the focus had switched from Goldman the Wall Street investment bank to Goldman the infrastructure investor.

The Occupy demonstration this time involved a different part of the US – the West Coast. One of the objects of the protest was Carrix, a Seattle-headquartered company. Goldman Sachs Infrastructure Partners in 2006 bought half of Carrix, owner of cargo terminal operator SSA Maine, for an undisclosed sum.

Occupy, now an international movement organised in opposition to corporate greed and socio-economic injustice, sought to impact profits at Goldman by disrupting SSA from doing business. The 24-hour “Day without Goldman Sachs” took place at ports in California and Oregon.   

However, Main Street, not Wall Street, might have been the real victim of the demonstration as some port operations were disrupted.  

“I just lost $400 today,” a long-haul truck driver told Bloomberg. “These people say they represent the 99 percent. They don’t represent me”.  

“They are targeting the wrong people,” added a crane operator. “The corporations are still making money today. We are not”.