Former New Jersey Governor, Senator, and Goldman Sachs CEO Jon Corzine spent a long time on Bloomberg TV yesterday, discussing crises of the day including Toyota’s woes, Goldman’s image, and his own legacy.
When asked by the host about the “most vilified financial brand in history” Corzine elaborated on strategy, image, “ethos” and how you communicate, “there are always issues in how you explain.”
He also gave current CEO Lloyd Blankfein credit in the wake of the controversial “God’s work” comment, “Lloyd has done a much better job than the publicity surrounding him implies.”
“When you make an occasional mistake in public, it’s easy to misphrase something at the wrong time when you thought your toung was in cheek. Those type of things when people are extremely sensitive is extraordinary.”
On what Goldman should do now, “the best thing to do, kind of what the PR consultants said, speak a little less, do a lot to serve your shareholders and your clients…sticking to the knitting of the fundamentals of what your business is about is the way to try to meet those kinds of challenges that come from the public attack on the brand.”