Word: compensationitis
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For now, Grasso has the support of his board and says he isn't leaving. "Dick's pay is fair and reasonable," says Kenneth Langone, Home Depot co-founder and a Grasso friend who served on the board as chairman of the compensation committee until this year. No one disputes...
Complicated pay formulas aren't all the board may have failed to grasp. Every year since Grasso took over at the exchange, it has trounced internal performance targets, which center on things like trading volume and market share. How the exchange measures up against its predetermined targets heavily influences annual...
Successful companies (those with above-average five-year shareholder returns) are boosting pay for top workers, finds consultancy Towers Perrin. The goody bag includes cash awards, company stock and total compensation packages well above industry norms. Average companies, however, are more likely to be keeping salary increases at a minimum...
"He's the classic Horatio Alger story. Unfortunately, he was like Horatio Alger on steroids." JOHN C. COFFEE, Columbia University securities-law professor, describing the blue-collar background and $139.5 million pay package of ex-New York Stock Exchange chairman Dick Grasso, who resigned amid anger over his compensation
Grainne Walsh will never forget the men who assaulted her. She often sees them walking the streets of Dublin - in their police uniforms. Although the Irish government paid some €50,000 in compensation to the young fashion designer, the officers who assaulted her were never disciplined. Only scant details...