“Some people come in and say, ‘You are doing too much. Don’t say another word.’ Other people say we should get on the talk shows,” said Goldman Sachs CEO Lloyd Blankfein at an event in Manhattan last week.
Blankfein was referring of course to the mixed advice his company is receiving from a litany of PR experts and agency heads eager to boost their revenue with a few high profile financial services accounts.
Mr. Blankfein’s company is battling an onslaught of bad press as it stands to hand out record end of year bonuses just over a year after it received billions in government bailout money.
Goldman has taken some steps to address the situation, but many believe they haven’t done enough. In a poll last week, 63% of PRNewser readers said Goldman’s $500 million investment in U.S. small businesses and public apology were “too little, too late,” while 29% said the actions changed their image of the company.
Longtime PR executive and New York power broker Howard J. Rubenstein agrees. “This is a time for gratitude and attitude. One letter to the editor, one news conference, one speech does not make an image,” he told the Times.