When you hear the acronym ESP, your mind probably associates it with extrasensory perception; however, that is not the case for Jeremey Goldstein, an attorney and a partner at Jeremy L. Goldstein and Associates, LLC. If you’re not familiar with the attorney or the law practice, they are collectively proponents of ESP, which, in financial terms, refers to “earnings per share.” This term is used to outline how employers govern employee incentives. It’s important to note, however, that ESP not only impacts employees and employers but also stock prices for publicly traded companies.
And although rarely talked about, ESP is a popular business strategy used by most major companies including Goldman Sachs, Bank of America, and many other corporations. Of course, it’s relatively easy to understand how ESP can influence employee payout, but what about its influence on a company’s stock price? Well, ESP is often the impetus for a shareholder’s decision to either buy or sell stocks offered by specific companies.
Jeremy L. Goldstein, and Associates, LLC, is a firm predicated on helping CEOs and compensation committees, along with their management teams, improve their company pay structure. To facilitate this process, the law firm implements strategies that ensure pay per performance incentives are connected to accountability.
What does this mean in layman’s terms? Basically, those who are in managerial roles will be responsible for the actions of their subordinates, not to mention the company as a whole. This is especially true when it comes to creating long and short-term goals that impact the company. The corporations that have enlisted the expertise of the Goldstein law firm have considered them to be a godsend, attributing their ability to achieve a defined pay structure and improved stock prices to having worked with the firm.
As far as Jeremy Goldstein’s background is concerned, he is a Cornell University alumnus who earned a B.A. in Art History in 1995, before enrolling in the University of Chicago, earning a Master’s degree in Art History in 1996. After earning both his Master’s and B.A. degrees, Goldstein enrolled in the New York University School of Law where he earned his JD degree in 1999. Given his background in law, it’s easy to see why Goldstein is a huge proponent of ESP; it favors accountability and shuns company favoritism that could lead to disreputable management, which, in turn, could negatively affect company metrics and stock price.
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