Dick Grasso essays

Dick Grasso essays In This paper I am proving that Dick Grasso , the former Chief Executive Officer and Chairman of the Board of the New York Stock Exchange (NYSE) had every right to his full retirement compensation package of One Hundred Eighty Million dollars at the time he announced his retirement earlier this year . As you will note, I will you various points and comments from writers of Forbes, Business Week and other publications to help Identify that a privately held companies can pay any member of its team any amount of money it wishes. I will also show that the Media, Common Public and Financial Leaders of Mutual fund Companies have no right to state or option in a public forum to criticize Mr.Grasso for willing to accept his compensation for a career that has. In late August of this year, the financial community, Media and the public received the news that the New York Stock Exchange owed Dick Grasso One Hundred Eighty Million dollars in deferred compensation that was to be paid in a lump sum payment. It was also discovered that there was a additional sum of Forty-eight million dollars that was owed to him in back in incentives owed to him for overages in his bonus program that I will point out later in this paper and as he took criticism due to the fact that his compensation was set by (NYSE) board members he recommended. With all the details on the table of Dick Grassos pay package for everyone from Presidential Candidate Joseph Lieberman to Kermit the frog was screaming for Dick Grasso to step-down as Chairman of the (NYSE). Mr.Grasso started his career with the (NYSE) in 1968 as a stock clerk earning a weekly salary of eighty-two dollars and fifty cents. In 1990s before Grasso was hired as Chairman and Chief Executive Officer the Board of Directors decided that it would need a new compensation program in order to attract and retain superior world-class executives. Through promotions and showing that h...