Chapter 425 The living legend on the planet

As the current chairman of the New York Stock Exchange, Richard Grasso is a heavyweight on Wall Street.

This man is known for his short stature and quick wit.

Due to poor family circumstances when he was young, Grasso did not go to college. After 27 years of hard work, Grasso reached the top position on the New York Stock Exchange.

It can be said that Richard Grasso's life experience is very inspiring.

But this very inspirational man has been in big trouble recently.

His salary is too high.

A while ago, famous New York newspapers such as the Wall Street Journal and the New York Times disclosed to the public the remuneration of the leaders of the New York Stock Exchange.

Among them, Richard Grasso, chairman of the New York Stock Exchange, will receive a compensation award this year, excluding annual salary, totaling more than 139 million US dollars.

This level of remuneration has caused huge controversy inside and outside the industry.

Normal people can see at a glance that Abel, the core of the financial group, is more eye-catching than Abel, who has freedom of wealth.

"Bloomberg": [New York Stock Exchange Chairman Richard Grasso claimed that he had a smooth secret conversation with Mr. Abel Smith that morning. Mr. Smith believed that Richard's contribution to the New York Stock Exchange was very important and critical. A large part of the reason why Smith Media chose the New York Stock Exchange was because of Mr. Grasso...]

So at this time, except for Abel and Abel's friends.

Within the entire industry, only entertainment stars are left singing their praises.

Grasso himself is effectively a regulator, but gets paid the equivalent of a corporate leader.

His annual salary will remain unchanged at US$1.4 million, and there will be an "annual bonus" of no less than US$1 million.

Because it is too obscure, many ordinary Americans cannot understand it.

Richard Grasso laughed heartily, and his short body made a sound that did not match his size.

The elevator door dedicated to the chairman opens.

It is a beacon, a hope, a goal, and an idol for every American who has dreams of wealth.

"But...10% is too much."

In other words, they are actually their own people.

In the motorcade, Abel stepped out of the Cadillac Monster and walked into the Smith Tower.

They are all reported from the perspective of data and impact on the industry and the impact on the American public.

He might even use his contacts at the New York Stock Exchange to get other exchanges to block this guy who overestimates his capabilities.

In the midst of chaos.

If Abel and Buffett had not jointly rescued the market last year, it is not certain that the stock market crash would have already occurred.

"5 percentage points." Richard Grasso gritted his teeth and directly gave the quotation:

"Mr. Smith, as long as I am in office, I will guarantee that in the future, Smith Capital's transaction fees on the New York Stock Exchange will be reduced by 5% on the current basis."

They also decided to extend Grasso's employment contract for two years, to 2007.

If it is not solved well, let alone 2007.

Some people say that this is an unusual number.

Success and wealth can subconsciously increase people's confidence and calmness.

It's just that in terms of scale, compared with the New York Stock Exchange, the latter two are insufficient.

There were so many people greeting Abel along the way.

"I believe Nasdaq and the American Stock Exchange are even willing to reduce it by 15%, or more."

As a result, the New York Stock Exchange and Richard Grasso have been caught in a huge public controversy recently.

They believe that if the stock price is low by then, Smith Capital will definitely step in to support it.

There must be the chairman of the New York Stock Exchange in front of me.

"Good morning, boss."

"Okay, okay... Mr. Smith, 10%! No problem at all!"

Just like the rest of his subordinates.

In addition to the New York Stock Exchange, there are two other stock exchanges in the United States, the American Stock Exchange and the Nasdaq Stock Exchange.

However, no matter how you look at it, this compensation, which consists of US$40 million in executive savings, US$51.6 million in accumulated retirement benefits, and US$47.9 million in incentive bonuses, is indeed too much in the eyes of many people.

Even though the New York Stock Exchange stated to the outside world that this compensation plan was unanimously approved by the board of directors and was completely reasonable, legal and compliant.

"It's not far from 18 Broadway. Smith Media may be going public. This kind of thing will be published in the newspapers and will make all stock investors happy. As the chairman of the New York Stock Exchange, of course I want to

Implement it immediately so that I can live up to everyone’s trust in me!”

So even though there are many people who want to cause trouble, my colleagues are not stupid, and no one stands up and says anything bad.

Even if Abel's influence is not considered, a star company like Smith Media is a favorite among stock exchanges.

Abel bargained.

If it's less than 5%, it's even less.

"10 percentage points. 10%, I will choose the New York Stock Exchange with a high probability."

In the news content, the New York Post used their usual exaggerated and exaggerated reporting language to report this news.

The name Abel Smith has once again become a major hot word in many American media reports.

Abel smiled slightly, his face calm, and did not respond.

This was very outrageous and caused a wave of public opinion at the time.

In Smith Tower, everyone who greeted Abel had enthusiasm and admiration in their eyes.

This cunning oil man said it in a high-sounding way.

Any stock exchange in the world would be willing to give him the green light.

At this time, Richard Grasso, who was in a hurry, suddenly received a notice from Smith Capital.

Richard Grasso chose compromise.

But for Richard Grasso himself, he is indeed in urgent need of increasing the performance and reputation of the New York Stock Exchange through the listing of a star company.

Simply put, it is the impact and changes caused by different experiences, power, and wealth.

Even the White House would not agree.

Because the transaction fees of the New York Stock Exchange are not high to begin with.

What's more, the media has always been the Oilers' advantage.

In the current downturn in the stock market, Grasso's compensation this time exceeds the total net profit of the New York Stock Exchange in the past three years.

It was reported at the time that Grasso's salary and bonus income in 2000 exceeded US$10 million, dozens of times higher than Federal Reserve Chairman Greenspan.

February 27, 2002, Lower Manhattan, in front of the Smith Building.

There is also rejoicing from the investment community.

It can even make people surrender invisibly.

In the office, Abel looked at the short CEO of the New York Stock Exchange who came from a working-class family and became a top Wall Street player. He smiled and said hello.

After the two major exchanges merged, even the leading New York Stock Exchange fell behind in many aspects.

But if they have a chance to stand together.

"But I want to say that the NYSE is not my only option. I hope you understand that."

This makes Smith Media, which has not officially announced the news of going public.

Just like today.

They also said that if its share price was too low, it would be too damaging to Mr. Smith's reputation as an investing god.

It is very serious and serious, and is more popular than current affairs news.

Also, when a company is listed, many stock exchanges will also charge a fee.

Smith Tower, Smith Media floor.

Oilers Capital Group is also happy to hear about this.

This is the subsequent impact of this news on other aspects, which will not be mentioned here for the time being.

These two men are often regarded as Richard Grasso's biggest challengers.

I don't know when it started.

And headline-makers like the New York Post and the American Sun.

The bold reporters and editors of the New York Post also compared George Soros, Michael Bloomberg, Richard Grasso and many other Oilers who appeared around Abel in their reports.

Described in a subtle and dramatic way.
To be continued...