Goldman Still Taking My Advice

As I have previously reported, more than a year ago, in a casual chat, I told a member of Goldman's investor relations department that Lloyd Blankfein was to tone deaf to be allowed to speak freely to the media. I told him what Goldman IR needed to do was have Blankfein leave messages on the internal Goldman voicemail system, then leak to the press what Blankfein said.

This way Goldman IR can completely control the Blankfein message. Since then we have had three leaked Blankfein voicemail messages. The most recent, in today's WSJ:

The firm also hired Boston Consulting Group to interview clients, according to a transcript of a voice mail Mr. Blankfein left for Goldman's staff on Aug. 31, which The Wall Street Journal has reviewed. Boston Consulting Group declined to comment.

I am not exactly sure, though, why Goldman wanted to leak this voicemail. Goldman should be able to reach their institutional clients directly. This looks like a typical klutzy Goldman move to me, turning a go idea into a misfire.

I am completely baffled as to how Lucas van Praag, who heads Goldman's IR team, ever made partner.