Word: grasso
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...This reaffirms what we already know, that this was not about one man's compensation but about a culture gone awry." PHIL ANGELIDES, California treasurer, on the disclosure that co-presidents of the New York Stock Exchange are each entitled to $22 million upon retirement. Former N.Y.S.E . chairman Richard Grasso resigned last month after it was revealed that his compensation package totaled $187.5 million...
...N.Y.S.E. like a club, or you won't have the confidence of the public." JOHN REED, interim chairman of the New York Stock Exchange, on the need for reform, following the resignation of former chairman Richard Grasso...
RESIGNED. CARL MCCALL, 67, from the New York Stock Exchange (N.Y.S.E.) board, on which he served as chairman of the compensation committee; eight days after N.Y.S.E. chairman Richard Grasso stepped down following criticism of his excessive $140 million pay package; in New York City. McCall had publicly defended Grasso but was reportedly angered to learn of an additional $48 million due Grasso, despite having signed a new contract extension approving...
RESIGNED. RICHARD GRASSO, 57, as chairman and CEO of the New York Stock Exchange; after an uproar over his recently disclosed $140 million pay package and other benefits, which critics contended were excessive and inappropriate for a financial regulator whose job was, in part, to set an example of responsible corporate management; in New York City...
...Excessive Compensation? I was not surprised to read in "Big Board, Big Payday" that New York Stock Exchange chairman Dick Grasso will receive $140 million in deferred pay and retirement benefits [Sept. 8]. There is something wrong when ceos, board members and upper-level corporate managers get millions in pay and benefits while lower-level managers and rank-and-file employees are laid off or asked to give back pay and benefits "for the good of the company." Why are executives getting these outrageous benefits? Because those who decide on the compensation are ceos, board members and upper-level managers...