In a strange Bloomberg article, we learn that Lloyd Blankfein received a standing ovation on April 20th, at a managing directors earnings call.The account came from Brad Hintz, an analyst at Sanford C. Bernstein, who wrote about the standing ovation in a note to clients today after he met with five Goldman senior executives.
Then Samuel Robinson, a Goldman Sachs spokesman, confirmed that Blankfein got a standing ovation.
Question: is receiving a standing ovation on an earnings call even possible?
We find the concept a little off. In a meeting, sure. And if the partners were all in the same room on the call it would be easy too, but did they broadcast “We’re currently standing in ovation,” over the line or what?
We suspect this is just more positive Blankfein press of the second “good press” variety that CNN describes as one of the 4 ways to tell when a CEO’s days are numbered:
1. The start of a probe: federal, Congressional, or all of the above. (ie these two)
3. Denials of leaving, thinking of leaving, or knowing the definition of the word ‘leave.’
4. The full beard, and other signs of disregard for accepted social conventions. (ie Ken Lewis)
CNN has a full explanation of the reasons if you’re interested.