A few months ago, a number of Goldman Sachs shareholders suggested that they have some sort of say on Lloyd Blankfein and the rest of his team's pay. At the time LB and Co humored them because of the whole public image crap, and since it'd been suggested in their sensitivity training classes to "take a second and listen to what others have to say," no matter how stupid they may be. Finally the torturous period of enforced "acting like you care" ended and my god, it felt so good to fire off a note letting clients know that next time, before drafting a letter full of feelings and ideas re: how the company should be run, to ask thyself, "Does anyone in the c-suite give a shit about what I think?" Most people feel in line but either the scamps at the Christian Brothers Investment Services didn't get the memo or they're trying to workshop some sort of comedy routine because what they're suggesting is a real gas.
A call for the separation of the powers of Goldman Sachs chairman and chief executive Lloyd Blankfein at the next annual meeting relies on the UK example as part of its arguments. Among the seven extra resolutions proposed by Goldman Sachs investors at the annual meeting in New York next month, the Christian Brothers Investment Services group wants the chairman to be an independent member of the board.
Pointing to the UK and other international centres, the Christian Brothers say that an independent chairman "can enhance investor confidence in our company and strengthen the integrity of the board".
First off, when it comes to LB, you don't separate anything, nuclear powered nutsacks or otherwise. Second, "strengthen the integrity of the board"? Lloyd has integrity (charm and panache) oozing out of every known and unknown orifice. You couldn't jam any more integrity into that thing if you tried.