Here is the synopsis of our sample research paper on Dick Grasso And The New York Stock Exchange. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
A 18 page paper. Beginning as a clerk at the NYSE more than 36 years ago, Dick Grasso worked his way up to become Charmin and CEO of the NYSE. He led the NYSE to outstanding performance during his tenure. Some of his many accomplishments are reported. The compensation negotiations in 2003 resulted in a $190 million package, which caused an immediate heated controversy. This essay reports the events leading up to and subsequent to the furor involving Grasso's compensation. The writer explains how the amount was calculated and why it reached such a high total. The essay reports the board's decision to ask for Grasso's resignation, proving a timeline from May to September 2003. The issues surrounding the case are discussed as is where the case is at this writing. Bibliography lists 9 sources.
Page Count:
18 pages (~225 words per page)
File: MM12_PGgrass.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
Stock Exchange (NYSE) (Kroll, 2004). In fact, the NYSE Board has been accused of "fiduciary improprieties and of not negotiating at arms length" (Kroll, 2004, p. 12). While Grasso has
not been accused of anything except perhaps greed, a lawsuit against him is being threatened. It is common practice for severance benefits to be generous when a high-ranking executive is
dismissed without cause or when they resign for good reasons (Kroll, 2004). It is the size of these severance benefits that is under great scrutiny both in the United States
and in Europe (Kroll, 2004). At this time, the headlined case in the U.S. is the Grasso case; in Germany, it is the bonus package given to Klaus Esser, former
CEO of Mannesmann (Kroll, 2004). Esser was given a US$19 million bonus and severance payment when the company was taken over by Vodaphone (Kroll, 2004). In fact, in Germany, members
of board are being accused of criminal offenses (Kroll, 2004). In the U.S., both Grasso and members of the board are currently under investigation with litigation either pending or in
process (Kroll, 2004). CEOs are mostly protected by employment contracts, which outline the compensation that will be given to that individual should the board dismiss them without cause (Kroll, 2004).
The severance language also covers the individual resigning for good reason, which Kroll defines as constructive termination (Kroll, 2004). There are any number of definitions included under the umbrella of
the word cause, such as the person being guilty of committing a felony, of "financial impropriety, or moral turpitude" (Kroll, 2004, p. 12). If the CEO is dismissed for cause,
it means "the willful neglect or misconduct in the discharge of the CEOs duties constitutes" (Kroll, 2004, p. 12). Under dismissal for cause, the CEO would receive only salary and
...