Relax, Goldmanites – not everyone is out to get you | FT Alphaville

Relax, Goldmanites – not everyone is out to get you

FT Alphaville was amused by the following, spot-on tweet by “Fake Lucas van Praag” on Thursday:

Ahem. Goldman is on Fortune’s list of Most Admired Companies. Print is not dead! It serves at the pleasure of Lucas.

Amused, not just because of the deadpan delivery, but because FLvP makes an interesting point.

Amid the firestorm of recent, mostly populist criticism — of the bank itself, of its chief executive and indeed, of (the real) Lucas van Praag — Goldman has found itself forced to play an unaccustomed role: defense. (For a contrarian take, see The Epicurean Dealmaker’s superb ‘Mouth of Sauron‘ post)

But not everyone is out to get Goldman — at the very least, the “more than 4,100 executives, directors and analysts” polled by Fortune magazine like the former investment bank enough to rank it eighth out of 50 “most admired companies” worldwide.

In fact, Goldman topped the ‘megabanks’ subgroup, forcing Jamie Dimon and JP Morgan — who are currently riding a wave of positive publicity — into second place.

Here’s what Fortune had to say on the subject:

The case of Goldman Sachs is illuminating. The bank’s reputation among the general public plummeted as it became a poster child for the greed that sparked the financial crisis. But as far as the business world is concerned, its reputation is stronger than ever: Goldman shot up seven slots from No. 15 to No. 8 as it cranked out record profits and nimbly adjusted to the post crisis world while its peers faltered.

So much for that “bad press” risk factor, then – and more importantly, does this mean that van Praag does, in fact, know exactly what he is doing?

Related links:
The defensive Goldman Sachs (updated) – FT Alphaville
Media-fuelled Goldman bonus neurosis – FT Alphaville
The Lewis PR plan for Goldman – FT Alphaville