Greg Smith - Mahony Partners

Mar

2012

Was the New York Times at Fault for its Handling of Greg Smith’s Letter?

Now that we are in day two of the Memo that Shook Wall Street - the most famous resignation since Jerry Maguire’s “mission statement” – it’s worth asking whether the New York Times has anything to answer for in this episode. Landing a prominent article on the Times op-ed page doesn’t happen overnight. Unlike the news pages, which are designed to cover breaking news quickly, an op-ed takes several days if not weeks to produce. There’s internal bickering among the Times’s editorial-page editors over which issues and writers will appear on its coveted pages. Then there’s usually a bit of trimming and primping - usually without the writer’s involvement - as the submitted piece gets ready... Read More

Mar

2012

Welcome to Goldman Sachs, Mr. Siewert – Update

Crisis, Financial Services

In an earlier post, I suggested that Goldman send a note to its employees to respond to Greg Smith’s public resignation letter. It appears my advice was taken. Goldman chiefs Lloyd Blankfein and Gary Cohn did indeed send a memo (perhaps I'll send them a large bill). It was very well done. Here’s why: It used data, not opinion. Goldman was able to cite its employee survey data to demonstrate widespread support for ... Read More

Mar

2012

Welcome to Goldman Sachs, Mr. Siewert

Crisis, Financial Services

The public resignation letter by Greg Smith, a Goldman executive, is lighting up the blogosphere. It’s certainly not the way Jake Siewert imagined spending his first day on the job as head of communications. As a candid, personal confession from a Goldman insider, the letter is very damaging. It counters the notion that Goldman has been a united force, its p... Read More