FOXNews.com - Business - NYSE Report: Grasso Pay 'Unreasonable': "NYSE Report: Grasso Pay 'Unreasonable'
Wednesday, February 02, 2005
NEW YORK � Former New York Stock Exchange Chairman Richard Grasso (search) received a multimillion dollar compensation package that was 'far beyond reasonable levels,' and characterized by numerous flaws, according to a confidential report released on Wednesday by the exchange.
The Webb report (search), a 135-page document that summarizes how Grasso's pay and retirement benefits were calculated, had been zealously guarded by the exchange. Last week, a New York state judge demanded that the exchange's lawyers turn the document over to Grasso's legal team.
The report asserts that the former chairman received 'approximately $144.5 million to $156.7 million' in excessive compensation and benefits"
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