nytimes.com
February 11, 2001 Single-Page Format
Morgan Stanley Says It 'Clearly Made a Mistake' by Inviting Clinton to Speak
By PHILIP SHENON
<<<— The chairman of Morgan Stanley has told clients that the Wall Street investment company "clearly made a mistake" by having former President Bill Clinton speak at a conference in Florida on Monday, saying the firm understood their unhappiness in light of "Mr. Clinton's personal behavior as president."
In an e-mail message to clients, the company's chairman, Philip J. Purcell, acknowledged what he called an error. The message was sent on Thursday and Friday to Morgan Stanley customers who had expressed outrage over reports that Mr. Clinton was paid $100,000 or more for the appearance in Boca Raton, Fla., his first speech since leaving office.
A spokesman for Morgan Stanley, Ray O'Rourke, said that the firm had received dozens of complaints from clients, with some threatening to take their business elsewhere, and that Mr. Purcell had decided to respond directly to them.
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