The newest risk management (risk management news) buzzword: Headline risk? If the concept applies to any firm, it would have to be Goldman Sachs (GS Goldman Sachs news). Where a tsunami of negative press ultimately cost its employees quite a bit in terms of lost bonus money (executive pay news). No telling how much Lloyd Blankfein (Lloyd Blankfein news) would have gotten for a terrific 2009 were it not for this unmanaged risk. Could it have rivaled the $68 million he got in 2007? Instead he settled for a relatively paltry $9 million. 

Not to worry, the firm has apparently reached out to Public Strategies, a PR boutique based in Texas. It is run by Dan Bartlett, a confidant of George W. Bush and Karl Rove, who apparently is already in action. According to the New York Post, Goldman Sachs sent clients and analysts an "exhaustive, online questionnaire" to pinpoint exactly what people think of the firm. Goldman has used Public Strategies before to consult on specific deals. I'm sure Goldman Sachs has hired other PR consultants as well. We'll just have to see if its efforts bear any real fruit. I'm sure Lloyd Blankfein is getting lots of advice no matter where he goes.

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