Word: stockely
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King of the Club: Richard Grasso and the Survival of the New York Stock Exchange...
...payday that shook Wall Street: nearly $140 million in compensation set aside for Big Board chairman Dick Grasso. But when Grasso, CEO of the New York Stock Exchange, tried in 2003 to cash in early, the revelations about his staggering paycheck triggered an imbroglio that ended his eight-year reign as King of the Club and brought a lawsuit by then New York Attorney General Eliot Spitzer. Was Grasso, who was interviewed for the book, a victim of the post-Enron era or just another fat-cat CEO? Both. Gasparino insists that Grasso was "one of the most remarkable...
Talk is cheap, and economists and laymen alike have a strikingly poor record of predicting recessions. But there are good reasons to be concerned that the economy is weakening. They involve struggling banks, the collapsing housing market, the volatile stock market, oil prices, the weak dollar and lots of nervous investors in far-off lands. All of which relate back to the financial condition of the people swarming the nation's malls...
...According to the director of pharmacy services at UHS, Benedict J. DiRusso, before last year, the generous discounts on contraceptives enabled UHS to offer these medications at a lower price. Once federal law abolished such subsidies, the formerly discounted drugs increased to a higher price. When UHS’ stock of contraceptives ran dry, University doctors switched students from brand-name contraceptives to their generic equivalents. For birth control pills such as Ortho Tri-Cyclen Lo, which have no generic counterpart, students were required to pay the higher premiums. Students in this category were in the minority, according to DiRusso...
...maneuver Merrill Lynch out of the sub-prime mortgage crisis that has plagued financial firms across the country in recent months. Thain has gained a reputation as a cordial, perspicacious technocrat who rose to serve as a co-president of Goldman Sachs and revived the ailing New York Stock Exchange. Merril Lynch reported an $8.4 billion loss in securities and bad loans last month. Thain was deeply involved in establishing the then-booming mortgage bond business while he was at Goldman Sachs. “John is an appropriate choice given his background as a risk manager...