·Popular past posts ·

More where that came from. Dick Grasso, disgraced chairman of the NYSE, isn't alone in his self-directed generosity (WSJ, sub. req'd):

The New York Stock Exchange's two top remaining executives have accumulated retirement pay totaling about $30 million apiece during their respective 30-year careers at the Big Board, according to people familiar with the matter.

The pay of the executives, Catherine Kinney and Robert Britz, the NYSE's co-chief operating officers, could cause a stir at the exchange, which has been roiled by last month's ouster of former New York Stock Exchange Chairman Dick Grasso after disclosures that he had accumulated retirement pay of nearly $190 million in his 36-year exchange career. A NYSE spokesman declined to comment.

[...]

At a securities-industry dinner earlier this year, Mr. Grasso teased his lieutenants about their chances [to succeed him]. Ms. Kinney and Mr. Britz had "suffered" about "60 years collectively of Dick Grasso," the then-chairman said, and were "just a heartbeat away from providing the leadership of the stock exchange that it sorely needs." To drive home the point, Mr. Grasso joked about what Mr. Britz would typically say to his boss on arriving at work at 7:45 each morning: "How's your heart?"

Heart? What heart? These aren't people — they're cyborgs from the future... no, wait, that's not the NYSE, that's California.

{ 9:31 AM }

.