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Poor Guy Lost His Job

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  • Poor Guy Lost His Job

    The contract shows that if Grasso left for good reason or was involuntarily dismissed, he would be entitled to receive his annual $1.4 million salary and $1 million bonus through his May 2007 contract expiration.
    Foley estimated the value of these payments at about $8.5 million. “It’s not unusual for CEOs to get two to three years of salary and bonus as severance,” he said. “His severance is (also) not what it could have been had his bonuses been calculated based on his prior years’ average bonus.”
    The contract also shows that Grasso, 57, would be entitled to $28.6 million of supplemental retirement benefits, $12.1 million of payments tied to his age and a $5 million retention payment. He would also get free health care for life.
    Do you think his health plan will be an HMO?
    And we are here as on a darkling plain
    Swept with confused alarms of struggle and flight,
    Where ignorant armies clash by night.


    Matthew Arnold

  • #2
    Originally posted by Brevet
    Do you think his health plan will be an HMO?
    LoL...you mean that he'll receive an HMO as additional compensation? That level of obscenity wouldn't surprise me...
    I have no problem at all with being proved wrong. Especially when being proved wrong leaves the world a better place, than being proved right...

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    • #3
      Is there Socialist or worst Commies at NYSE

      Where is the freedom of management of individuals specific to USA, are you becoming French and leftist


      Der WanderLikeDanRepublicanConservativeAndVerySchocked
      The Best weapon ever:a good Joke. The Best shield ever: Humour
      JLBETIN© Aka Der Wanderer TOAW Section Leader is a █ WHQ/SZO/XG/Gamesquad® product since 01/2003
      The Birth of European Army Tournament round Three is opened

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      • #4
        Any idea when the first CEO will make one billion per year in compensation? Or has this already happend?
        "There is no great genius without some touch of madness."

        Seneca (5 BC - 65 AD)

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        • #5
          oh.. I also want to lose HIS job then

          (is it legal to shoot and then eat those bastards? )
          Attn to ALL my opponents:

          If you sent me your turn and after 24 hours, you still did not get anything from me, please be sure to post in the forum to ask for what is going on.

          Remember, I ALWAYS reply within 24 hours, even if I do NOT have time to play my turn, in which case I will at least send you email to tell you that I will have to play it later, but I DO receive your turn.

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          • #6
            Originally posted by ER_Chaser
            oh.. I also want to lose HIS job then
            I heard that. I'll leave with a smile

            I saw earlier this year that while many companies are cutting thousands of jobs, CEO and other executives are making more money. Maybe we're all in the wrong line of work. If I were Grasso, I'd be the happiest unemployed man on Earth.
            "As soon as men decide that all means are permitted to fight an evil, then their good becomes indistinguishable from the evil that they set out to destroy."-Christopher Dawson - The Judgement of Nations, 1942

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            • #7
              The really disgusting part of executive pay is that most of those guys got where they are because of WHO they are and know rather than how talented they are. Eat the rich.
              ...a man that can stand up for a principle and sit down on his own stool.
              -the Firesign Theatre

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              • #8
                Originally posted by Tiberius
                The really disgusting part of executive pay is that most of those guys got where they are because of WHO they are and know rather than how talented they are. Eat the rich.
                I'm not so sure about that.

                There are some rich guys out there who are decent human beings.

                While the scale of Grasso's paycheck is really unbelievable, he did okay in the management of NYSE. At least, he didn't get involved with any of corporate scandals that's been widespread lately. At worse, he's probably too greedy.

                Not all rich guys start out rich, some of them grew up poor only to acquire wealth later in their life. Some of them got rich by doing the hard work, so that means they were talented guys.

                Dan
                Major James Holden, Georgia Badgers Militia of Rainbow Regiment, American Civil War

                "Aim small, miss small."

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                • #9
                  Originally posted by Chuck
                  Any idea when the first CEO will make one billion per year in compensation? Or has this already happend?
                  Isn't Gates close to that now?

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                  • #10
                    Originally posted by Priest
                    Isn't Gates close to that now?
                    I'm not sure he gets paid that much now. However he did get a lot of stock options over the years that build up to many billions of dollars. Probably if you go back to 1990 or something he received over a billion in stocks but at the time the stocks weren't worth that much.
                    "There is no great genius without some touch of madness."

                    Seneca (5 BC - 65 AD)

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