Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Goldman Sachs Group Inc    GS

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Goldman Sachs Group, Inc. : Goldman Hasn't Gotten Everything Right In Dealing With Public-CEO

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/25/2012 | 07:07pm CEST
   By Liz Moyer 
   Of  
 

On an uncharacteristic television interview blitz Wednesday morning, Goldman Sachs Group Inc.'s (GS) Chairman and Chief Executive Lloyd Blankfein admitted the company "hasn't gotten everything right" in its dealings with the public over the last few years.

He wants to change that.

Blankfien said Goldman hasn't "exercised its muscles" in dealing with the public and the media in the aftermath of the financial crisis, a period in which the firm has been repeatedly pilloried in the media for its seeming conflicts of interest and questionable business practices.

Two years ago, just about the time Blankfein last appeared on CNBC, the firm faced civil fraud charges by the Securities and Exchange Commission for its role in developing and selling a complex mortgage derivative known as Abacus. Goldman would eventually pay $550 million to settle that case, the biggest payment to the SEC by a Wall Street firm ever.

Goldman's image has recently taken more hits. Last month, a former employee of Goldman's London operations quit in a highly public fashion, sending a letter to The New York Times op-ed page lambasting Goldman's culture.

In separate interviews on CNBC and Bloomberg TV Wednesday morning, Blankfein said the firm needed to do a better job "getting out there and telling people how important this industry is," referring to investment banking.

Blankfein told Bloomberg TV the American public had not likely heard the name Goldman Sachs before the financial crisis three years ago. The general public "wasn't part of our audience" and not seen as an important communications constituency, Blankfein said. "Shame on us."

The CEO's interviews were conducted from the firm's lower Manhattan headquarters, and part of a client conference focusing on opportunities in growth markets. Goldman has eyed expansion in Brazil, China and other so-called growth economies in an effort to "be Goldman in more places," Blankfien has said.

-By Liz Moyer, Dow Jones Newswires; 212-416-2512; [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GOLDMAN SACHS GROUP INC
01:26a STEVE MNUCHIN : A Traitor To His Class
05/24 HYATT HOTELS : Announces Secondary Offering of 4,000,000 Shares of Class a Commo..
05/24 GOLDMAN SACHS : Announces Pricing Terms Of Its Tender Offer for Subordinated Not..
05/24 GOLDMAN SACHS : ‘Government Sachs’ Is Supposed To Be A Metaphor, Guy..
05/24 France makes Brexit pitch to Wall Street banks in New York
05/23 GOLDMAN SACHS : Announces Early Results of its Tender Offer For Subordinated Not..
05/23 THE GOLDMAN SACHS GROUP, INC. (NYSE : GS) Files An 8-K Other Events
05/23 GOLDMAN SACHS GROUP INC : Other Events, Financial Statements and Exhibits (form ..
05/23 OVERSEAS SHIPHOLDING : Class A (OSG) Posts Quarterly Earnings Results
05/23 HYATT HOTELS : Announces Secondary Offering of 4,000,000 Sharesof Class a Common..
More news
Sector news : Investment Banking & Brokerage Services - NEC
05/24DJMORGAN STANLEY : Cuts Broker Poaches -- WSJ
05/24 France makes Brexit pitch to Wall Street banks in New York
05/23 Morgan Stanley to curb veteran adviser recruiting
05/23DJMORGAN STANLEY : Joins Rivals in Curbing Broker Recruiting -- 2nd Update
05/23DJMORGAN STANLEY : Joins Rivals in Curbing Broker Recruiting -- Update
More sector news : Investment Banking & Brokerage Services - NEC
News from SeekingAlpha
05/23 Nobody Gives Investors What They Want.
05/22 My Story And A Special Offer
05/21 Tracking Dan Loeb's Third Point Portfolio - Q1 2017 Update
05/19 Goldman Sachs Stock An Odds-On Buy For Near-Term Cap Gain
05/19 REML With 21.6% Dividend Yield Is Attractive For Certain Investors
Advertisement
Financials ($)
Sales 2017 31 828 M
EBIT 2017 11 218 M
Net income 2017 7 795 M
Debt 2017 -
Yield 2017 1,34%
P/E ratio 2017 11,60
P/E ratio 2018 10,56
Capi. / Sales 2017 2,72x
Capi. / Sales 2018 2,60x
Capitalization 86 457 M
More Financials
Chart GOLDMAN SACHS GROUP INC
Duration : Period :
Goldman Sachs Group Inc Technical Analysis Chart | GS | US38141G1040 | 4-Traders
Full-screen chart
Technical analysis trends GOLDMAN SACHS GRO...
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 242 $
Spread / Average Target 10%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Lloyd Craig Blankfein Chairman & Chief Executive Officer
Harvey Mitchell Schwartz Co-President & Co-Chief Operating Officer
David Michael Solomon Co-President & Co-Chief Operating Officer
R. Martin Chavez Chief Financial Officer & Executive VP
James A. Johnson Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
GOLDMAN SACHS GROUP IN..-9.78%85 032
MORGAN STANLEY0.40%77 062
CHARLES SCHWAB CORP-2.41%51 506
CITIC SECURITIES CO LT..-3.18%26 823
NOMURA HOLDINGS INC-1.63%23 349
HUATAI SECURITIES CO.,..-7.22%16 320
More Results