The War Between The Street And Floor

Article Abstract:

Controversy still surrounds the compensation package that New York Stock Exchange directors approved for chairman Richard A. Grasso before he was forced to resign. Goldman Sachs chairman and CEO and NYSE director Henry M. Paulson Jr. claims that he missed most of the critical meeting that led to the $139 million for Grasso, but some of his fellow directors claim he was there and did not express his objections until later. Because Goldman Sachs had been developing electronic marketplaces that competed with the NYSE, it is still not clear if Paulson's later actions to remove Grasso from his post could be attributed to his concern for his own firm or his belief that Grasso's salary was excessive.

Government expenditures, Executive changes & profiles, Officials and employees, Economic policy, Goldman Sachs and Co., Paulson, Hank

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Big Board Chief Will Get A $140 Million Package

Article Abstract:

Bowing to pressure for more transparancy, the NYSE, for the first time in its 200 year history, disclosed executive compensation packages. Most notable was CEO Charles Grasso receiving a lump sum of $140 million in accru ed savings and incentives, in addition to $1.4 million in base salary and a $1 million bonus. Corporate governance watchdogs cited not only the size of the package for a quasipublic organization, but also that it was paid in cash while Grasso is still employed as opposed to the more usual post-retirement plans.

Chief executive officers

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A Pay Package That Fat Cats Call Excessive

Article Abstract:

There is strong public reaction to the New York Stock Exchange board's decision to offer CEO Richard A. Grasso $140 million in deferred savings and retirement benefits. This does not include the more than $12 million in compensation he?received last year. Securities industry officials, who refused to be identified, are alarmed that Grasso will be compensated in risk-free cash rather than stock that could reflect?his performance. Their concern is underscored by the fact the Exchange had earnings of only $28 million last year.

Beliefs, opinions and attitudes, Executives

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