Grasso Giving Up $48 Million in Benefits

Article Abstract:

New York Stock Exchange chairman Richard A. Grasso has forfeited $48 million that was in addition to his $139.5 million accumulated salary and benefits compensation deal. The NYSE board had disclosed his compensation as part of an overall public relations effort to deal with disclosure issues. The compensation committee chairman H. Carl McCall reiterated the board's faith in Grasso's leadership. The SEC had requested further information about Grasso's salary after learning about the $139.5 million p ackage . This resulted in revelation of an additional $48 million that Grasso was owed for past service. The inquiry and revelation may have motivated Grasso to give up the $48 million to diffuse public criticism that he felt was unjustified.

Government expenditures, Management, Stock-exchange, Stock exchanges, Economic policy, New York Stock Exchange Inc., United States. Securities and Exchange Commission, Grasso, Richard, McCall, H. Carl

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Whatever Happened to Mother Merrill?

Article Abstract:

Merrill Lynch's traditional approach to nurturing executives and their corporate careers seems to have dissolved with CEO E. Stanley O'Neal's?undignified dismissal of vice chairman?Thomas H. Patrick Sr. O'Neal's removal of? the old guard was underscored by his consolidation of his own power and rejection of Patrick's choice of Arshad R. Zakaria for Merrill Lynch president and future successor to O'Neal.

MER, Merrill Lynch & Company Inc., O'Neal, Stanley, management, Patrick, Thomas H., Sr., Zakaria, Arshad R., Luciano, Robert P.

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Counselor for All Reasons

Article Abstract:

Martin Lipton is known as one of the best lawyers when it comes to issues of executive dismissal, hostile takeovers and corporate governance.

Legal issues & crime, Legal services, Attorneys, Offices of Lawyers, Security brokers and dealers, Legal/Government Regulation, Company legal issue, Cases, Lawyers, Practice, Corporate governance, Chief executive officers, Investor relations, MWD, Morgan Stanley, Purcell, Philip J., Lipton, Martin

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