Tuesday, May 4, 2010

WSJ Discusses Life at Goldman after Lloyd Blankfein

When WSJ starts catching up to EPJ in discussing the likelihood that Blankfein is a goner at Goldman Sachs, you know the end is near.

His latest dumb act in a series of PR bungles was to hire the World War I battleship Mark Fabiani to handle Goldman's crisis PR. Less than a week after Fabiani takes the crisis management helm at Goldman, WSJ comes out with these words:

Some executives and powerful alumni of Goldman Sachs Group Inc. are talking about whether Chief Executive Lloyd C. Blankfein can survive the legal and public-relations storm swirling around the company, according to people familiar with the situation... the open discussions inside Goldman about life after Mr. Blankfein show that the firm is being rattled by the turmoil...Some shareholders said the tide could turn against Mr. Blankfein if Goldman shares fall below their current book value of about $122. The stock is down 19% since the SEC's lawsuit was filed.

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