That's not going to stop AG Spitzer! He's got a gubernatorial cam--I mean a public to protect!
WSJ.com - Spitzer Prepares To Sue Grasso Over NYSE Pay:
NEW YORK -- Attorney General Eliot Spitzer is paving the way to sue former New York Stock Exchange Chief Dick Grasso for the return of as much as $120 million in pay he received at the Big Board. Mr. Spitzer also is preparing to sue members of the NYSE's former board who approved Mr. Grasso's pay, according to a person familiar with the matter. No final decision has been made to sue. And an 11th-hour settlement is possible. Still, litigation by the New York attorney general is looking more like a real prospect, instead of a negotiating ploy to increase pressure for a settlement, according to people familiar with the actions in recent days. That is because Mr. Spitzer's usual leverage against corporate executives hasn't worked with Mr. Grasso. The former NYSE chief has little to lose in the wake of his public and messy ouster, according to a person familiar with efforts to negotiate a settlement agreement with Mr. Grasso.Then again, maybe he can't force a settlement because Mr. Grasso did NOTHING WRONG. He was CEO of a private firm and he accepted a generous compensation package. Sorry the remuneration didn't meet AG Spitzer's guidelines.
This guy is scary. He has done some great work but he doesn't have any idea of his nor the State's boundary -- and I don't mean the Hudson.
Posted by jk at March 1, 2004 09:28 AM