Sign of The Times: Goldman Sachs (GS) Moves Another Conference: Cancellation Fee $600k

In another sign of the times moment, Goldman Sachs (NYSE: GS) is moving an Internet and technology conference from Las Vegas To San Francisco. Goldman Sachs, who has received $10 billion from the government, cited the new landscape as its reason to move the conference, according to Bloomberg.

This is the second conference in two weeks that Goldman Sachs moved because of the current environment it is operating in. Last week, Goldman Sachs moved a hedge fund conference from Miami to New York. Boy, Goldman is keeping its travel department busy these days.

The Goldman Sachs Internet and technology conference, scheduled for late February, was supposed to be at the Mandalay Bay in Las Vegas and will now take place at the San Francisco Marriott.

Financial institutions including American International Group (NYSE: AIG), Wells Fargo (NYSE: WFC) and Citigroup (NYSE: C) units have canceled corporate events set for resort locations. All these companies have received monies from the government and it doesn't look good to the public to see this companies spending money on conferences on expensive hotels.

A Goldman Sachs spokesperson told Bloomberg, "In light of the current environment, we have been reviewing a broad range of activities. The decision to relocate the conference is based on our best efforts to operate according to the requirements of the new landscape for our industry."

Lastly, the AP reported Goldman is paying $600,000 to the Mandalay Bay to cancel its reservation.

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