Monday, March 26, 2012

Is Ex-Goldman Exec Seeking Book Deal? Already?

Greg Smith, the former Goldman Sachs executive who used the Opinion Page of The New York Times to announce his resignation in spectacularly public fashion, is reportedly shopping a book proposal about his time at the firm. Per "several people with knowledge of the conversations," Smith held meetings with publishers last week, pitching the book as "a coming-of-age story, the tale of someone who came into the business with good intentions and sky-high ideals that were ultimately pierced by Goldman’s obsessive focus on making money." Publishers who attended those meetings seem split on the project's viabilities.

According to The New York Times, some publishers think the book could be another Liar's Poker, while others are wary of the "legal issues that could be involved with a former employee’s writing a damning book about a large, deep-pocketed company." Other concerns voiced by publishers include whether a book focused on the derivatives market could be accesible to a wide audience, the ability of a mid-level employee to write a persuasive indictment of Goldman's corporate culture, and whether anyone will still remember Greg Smith six months from now. Said one unenthusiastic publishing executive: "It's a story that had its moment,"

Read all about it at http://www.nytimes.com/2012/03/24/business/greg-smith-ex-goldman-executive-is-said-to-be-seeking-book-deal.html?_r=1
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