Friday, May 4, 2012

The New, Friendly Goldman 2.0 Hits the Streets




According to CNBC after a steady stream of criticism since the financial crisis, Goldman Sachs is trying to burnish its image.  Last week, the company’s chief executive, Lloyd C. Blankfein, gave rare back-to-back televised interviews to CNBC and Bloomberg Television, in which he emphasized the company’s focus on clients. And on Wednesday, he spoke at a lesbian, gay, bisexual and transgender conference called “Out on the Street,” explaining the company’s support for gay rights. In recent weeks, Goldman executives have been more talkative with reporters.

By stepping into the spotlight even a little, Goldman appears to be embarking on a subtle campaign to repair its reputation. The bank’s message is simple: Goldman cares about its clients and its community.

It is unclear whether such moves will change public perception, in large part because Goldman does not have a new story to tell. The financial company made a another public relations push a couple of years ago, with little success. In 2010, Goldman — still reeling from Congressional hearings, a government lawsuit and a less-than-flattering portrayal as a “vampire squid” in a Rolling Stone article — rolled out a series of national advertisements aimed at improving its public standing.

But with its latest effort, Goldman is taking a different tack by reaching out even though there is no blowup....

Find out more at http://dealbook.nytimes.com/2012/05/03/once-remote-goldman-sachs-puts-on-a-friendly-public-face/

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