Saturday, February 28, 2004

Grasso's $140 million pay check

Title: Grasso Refuses To Pay Back $139.5 Million
Source: Washington Post
Date: February 27, 2004

From the article:
    Former New York Stock Exchange chairman Dick Grasso is refusing to return any of the $139.5 million paid to him last year by the exchange and may seek over $50 million more that he believes he is owed, according to Grasso's attorney.
    Critics said Grasso's pay was exorbitant for an executive who serves as a frontline regulator of the securities industry. The NYSE is a "self-regulatory" organization charged with monitoring and disciplining its member firms, which include Wall Street's biggest brokerage houses and trading firms. Donaldson is paid $142,500 as chief of the SEC.


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