Building Reputational Equity Would Have Helped Goldman Sachs
(PRWEB) April 16, 2010 -- “Reputational equity – or what I would describe as having a reservoir of goodwill toward you – has real bottom line value,” says crisis manager Davia Temin, President and CEO of Temin and Company, which advises on reputation and crisis management for corporations and professional services firms.
“With reputational equity, in a crunch the public, the media, shareholders, customers, and stakeholders will give you the benefit of the doubt. And that can carry you through crises without too much damage.
“Unfortunately Goldman Sachs has not, until recently, worked hard at creating such goodwill. Rather, they have relied upon their success, and upon their excellent reputation with their clients and in the industry, to carry them forward. Main Street, populist legislators, and those who do not know them first-hand have largely been ignored.
“As the financial crisis has unfolded, Goldman Sachs has seen growing resentment toward them, since they do not seem to have shared the pain experienced by the rest of America or the rest of the world. The perception (totally distinct from the reality) has been that they profited from it.
“Now as the SEC goes after them, there is no well of public sympathy in their favor. And that is a shame. Because it could have been different. And now, in the midst of a recovery, Goldman is in for some rocky times.”
If you would like to speak with Davia Temin, please contact Suzanne Oaks or Trang Mar of Temin and Company at 212-588-8788 or news(at)teminandco(dot)com.
About Temin and Company
Temin and Company Incorporated helps corporations, professional services firms, and other institutions define and strengthen their public image through strategic marketing, branding, media relations, speaker and media coaching, financial communications, and crisis management and communications.
Clients include the leaders of some of the country's largest and most well-known corporations, financial institutions, law firms, consulting firms, publishing houses, venture capital funds, authors, politicians, and colleges and universities.
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