Charles Machine Works Inc., Perry, Okla., terminated a $14 million domestic balanced portfolio managed by Goldman Sachs for the $95 million ESOP with profit-sharing, said Michael Stodola, plan administrator. The termination was due to performance, he said. The plan split the money evenly among its three other managers, all running balanced portfolios: Salomon Smith Barney; UBS PaineWebber; and A.G. Edwards. Mr. Stodola would not provide the portfolio sizes. It did not use a consultant, he said.
A spokesman at Goldman Sachs would not comment.
