Hank Paulson Would Use Voicemail To Apologize To Employees For Telling Them They Were Worthless

Yesterday during Lloyd Blankfein’s testimony at the Raj Rajaratnam insider trading trial, Blankfein noted that, professionally, he prefers using voicemail to email. This is not a Lloyd quirk but something of an institutionalized “thing” at Goldman, where management has, for years now, been known to fill up employees phones with messages, rather than typing them out. The messages can range from morale boosters (LB left one for the staff last April around the time of the SEC investigation into ABACUS), to administrative and everything in between. For example, there was the time Hank Paulson left a firm-wide message, telling the staff he’d said some stuff he didn’t mean.

Mr. Blankfein’s predecessor as chief executive, Henry M. Paulson Jr., was also a fan of the spoken word. Voice mail was his preferred method of communication and in 2002 he famously used voice mail staffwide to apologize for his “80-20″ comment, when he remarked that 20 percent of the staff add 80 percent of the value. “It was glib and totally insensitive response, which is totally at odds with the way I think about the people here,” he told employees in a voice mail.

If that sounds awkward, it doesn’t really compare to the message he left for Jon Corzine one night not too long after pushing him out, telling him “it’s not you it’s me,” in an attempt to bury the hatchet, footage of which we’ve been able to obtain.

Goldman’s Love Affair With Voicemail [Dealbook]

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60 Responses to “Hank Paulson Would Use Voicemail To Apologize To Employees For Telling Them They Were Worthless”

  1. NakedShort says:

    I just got out of a six-year relationship. Okay? That should help to explain why I’m acting so weird. It’s not you. It’s me. I just wanted to say that. Sorry. This is Hank.

  2. Anonymous says:

    But he was completely serious when he said that 100% of the doctors add 0% of the value.

    -Fellow Christian Scientist

  3. Wahoo says:

    60% of the time it works every time

    -I’m Hank Paulson?

  4. J. G. says:

    Truth hurts. Never apologize and, believe it or not, titanium is just as good as glass.

  5. J. G. says:

    Truth hurts. Never apologize and, believe it or not, titanium is just as good as glass.

  6. J. G. says:

    Truth hurts. Never apologize and, believe it or not, titanium is just as good as glass.

  7. J. G. says:

    Truth hurts. Never apologize and, believe it or not, titanium is just as good as glass.

  8. Ole Talon Face says:

    Hank apologized to me once by letting his hawk maul my face. I would have preferred a voice mail.


  9. Anonymous says:

    Bess read the article in the WSJ about the rivalry between Greifeld (sp?) from Nasdaq and Neirderhauer (sp?) from the NYSE, I think roasting their rivalry would be right up your ally.

  10. Jessi says:

    I could listen to his recorded voice all day long….swoon….

  11. Jessi says:

    I could listen to his recorded voice all day long….swoon….

  12. Anonymous says:

    Are those Dre Beats headphones? Baller.

  13. Hank Paulson says:

    Jon, it’s not you, its me. I hope we can still be friends, I still love you but just are not in love with you. I hope you understand.

  14. Put me down for 8 says:

    Bess the John Favreau/Swingers reference is classic. One of the best scenes ever. 2nd only to the XBox scene post the hand-gun activity.

  15. Marlin Perkins says:

    Financial predators are like male lions. They wait for the females to kill something, then they get up and take a long piss on a bush, stretch, saunter down to the kill while growling, eat their fill, walk off and take a huge dump then go back to the shade of the bush and fall asleep. Then the females get to eat what is left. Fortunately for male lions, they don’t have to make comments or apologize for the ways things are.

    Now, while Jim tries to get the anaconda off his ass, lets talk about getting life’s risks of your ass with Mutual of Omaha life insurance….

  16. In case you forgot says:

    How much does Paulson just not give a crap?

    Swapped out of all his GS stock at a high valuation into US bonds tax-free when he joined GW….

    Charlie Sheen does not know the meaning of winning…

  17. Anonymous says:

    Paulson was just doing God’s work before God told him to do it

  18. Anonymous says:

    Paulson was just doing God’s work before God told him to do it

  19. Anonymous says:

    Paulson was just doing God’s work before God told him to do it

  20. Texashedge says:

    There is a system in which the 80-20 rule does not apply. It’s called communism.

  21. Ed says:

    Probably because they can be sure it was deleted.

  22. G. Costanza says:

    That’s my line!

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