Skip to content, or skip to search.

Skip to content, or skip to search.

Private Dick

Wall Streeters were shocked to learn Dick Grasso’s package is worth $140 million. Does he deserve it?

ShareThis

Alan G. Hevesi, New York State comptroller: “The New York Stock Exchange chairman is being paid a huge amount of money by the same people he is supposed to regulate. That raises serious questions.”

Fleming Meeks, executive editor, Smart Money: “$140 million is twenty years’ worth of deferred income, so it's really only $7 million a year, plus $2 million a year in salary and bonuses, so the question is really, ‘Is he worth $9 million per year?’ The answer is probably yes.”

Mark Cuban, dot.com billionaire and owner of the Dallas Mavericks: “If it’s a surprise to their stakeholders, that worries me. If it’s not a surprise, that worries me more. Why would they continue to let him accrue interest at 8 percent annually, an above-market rate? It can only translate to higher costs that get passed on to us.”

John A. Byrne, editor-in-chief, Fast Company: “What's really troubling is that the governance of the stock exchange is about as bad as that of a penny-stock company. There should have been complete disclosure of his pay long ago.”

Lewis Black, comedian, The Daily Show: “No one deserves more money than the income of a Third World country. It should be the standard of incomes.”


Related:

Advertising
Current Issue
Subscribe to New York
Subscribe

Give a Gift

Advertising