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Goldman released its quarterly results yesterday, a stunning 3,5 billion in profits! Meanwhile, the firm is also being sued by the US Securities and Exchange commission (SEC). So what’s that got to do with online reputation management ?
Well, since the SEC filing on April 16th, Goldman appears to have gone into damage control mode. It looks to be one of the most controversial financial fraud cases in recent times. The charge is that the banking giant mislead investors by not informing clients about some risky hedge fund investments that ended up causing substantial losses…
So how does this affect Goldman’s reputation overall and does it make sense for them to engage in active online reputation management ?
No, in this case it doesn’t. Although an SEC filing would spell major problems for almost any businesses BUT Goldman, (trading partners become caustic about transacting with SEC fraud ’subjects’), it is unlikely to become an issue for them. Sure, the ongoing case and speculations is going to put a dent in how the firm is being perceived publicly, but does that really make a difference at the business end of things?
Goldmans clients are afterall bankers whose perception of ‘good’ and ‘bad’ barely extend beyond profit and losses. With $3,5 billion in profits for last quarter, Goldman is good and the online reputation management team has little to worry about.
Still, if you’re not Goldman and are looking for a cost effective tool, read some of our online reputation management articles and sign up for the FREE Imooty trial.
