Goldman Sachs (NYSE: GS) is attempting to win over public opinion by acknowledging mistakes and being more open to interviews.
The company rarely has a need to advertise to the public, but has received substantial criticism related to the financial crisis and its executive’s high levels of compensation and bonus pay.
According to a regulatory filing made by Goldman Sachs, it now views negative public opinion, listed as “adverse publicity”, as a part of a list of factors that could pose risk to the its core business.
During the last few months, Goldman Sachs has made a concerted effort to open itself up to the public by offering interviews and making appearances on television, however the firm has been hesitant to take any responsibility for the financial crisis. In an ABC News story, one Goldman Sachs spokesman said that speculation about the firm’s executive compensation was “ill-informed and, frankly, pretty stupid.”
Although the company is making a concerted effort to be more visible in the media, many are not convinced that Goldman Sachs and other financial companies are committed to fixing the problems that caused the financial crisis to begin with.
