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Pastimes : Investment Chat Board Lawsuits -- Ignore unavailable to you. Want to Upgrade?

To: EL KABONG!!! who wrote (952)	12/22/2000 7:26:56 AM
From: TideGlider	Read Replies (1) \| Respond to of 12465

Beat me to it Kerry! That is interesting isn't it? A parody ;) Let's see how that one opens up. TG

To: EL KABONG!!! who wrote (952)	4/28/2002 9:29:00 PM
From: dantecristo	Read Replies (1) \| Respond to of 12465

[NYSE]"Big Board Drops Trademark Suit By BLOOMBERG NEWS he New York Stock Exchange has dropped a trademark-infringement suit against a man who signed Internet messages about the stock market using the name of the exchange's chairman, Richard Grasso. Trial was scheduled to start yesterday in the lawsuit, which the exchange had filed against David Gahary, who posted messages on a Raging Bull message board signed with variations of Grasso's name, including "DickGrasso." Mr. Gahary said he used Grasso's name as a parody, and no longer does. "They've made a motion for voluntary dismissal, and I told the judge we'd accept it" Mr. Gahary's lawyer, Agnes McKeon, said. Mr. Gahary is also asking for legal fees and sanctions against the N.Y.S.E. for bringing a frivolous suit. A stock exchange spokesman, Ray Pellecchia, said the exchange had determined that the suit was "no longer worth pursuing; sometimes there are wrongs without remedies." The exchange had argued that the postings caused confusion about whether Mr. Grasso was the source of the messages. Mr. Gahary argued that "no one in their right mind" would believe Mr. Grasso posted such messages on the Internet. Copyright 2002 The New York Times Company \| Privacy Information" April 23, 2002 nytimes.com

To: EL KABONG!!! who wrote (952)	8/30/2003 10:31:21 AM
From: dantecristo	Read Replies (2) \| Respond to of 12465

OT? - [NYSE] "$140 million payout `defies the imagination' By Meg Richards Associated Press NEW YORK - Richard Grasso's $140 million payout on benefits accrued over 36 years with the New York Stock Exchange sent jaws dropping even in Wall Street's glitziest corner offices. ``It defies the imagination to understand how someone could have amassed that kind of compensation,'' said Paul Hodgson, a compensation expert with the Corporate Library, a private research group. Grasso's millions accumulated in three accounts, the NYSE said, particularly over the past 20 years as he rose through the management ranks to become chairman in 1995, a post he'll hold until 2007 under his new contract. The massive withdrawal included $51.6 million in previously accrued retirement benefits, $47.9 million related to past incentive awards and $40 million from a supplemental executive savings account. ``That kind of dough is at the high end of executive deferred compensation accounts, from our experience,'' said Jonathan A. Kenter, co-chair of the employee benefits group at law firm Bingham McCutchen. Both sides had sound reasons for the timing, experts say. Grasso takes advantage of income tax rates at their lowest levels in years, and the NYSE gets a swelling liability off its books. Plus, Congress is considering new restrictions on tax-deferred compensation plans for executives. Such programs, known as ``top-hat'' plans, are a way for highly paid executives to set aside a portion of their income over and above what's allowed under more traditional profit-sharing or 401(k) retirement accounts. The assets are held in the company's name and are not protected from creditors in the event of bankruptcy. The exchange has said Grasso will no longer defer any of his annual income, which is $1.4 million in salary and at least $1 million in bonus under his new contract. It's not clear how Grasso's deferred funds accumulated, or at what rate, since the NYSE is a private, not-for-profit company and has not made those details public. The Securities and Exchange Commission said it was ``looking into the details'' of Grasso's package. ``If two-thirds of it is him saying, `Well, I can make do on $1 million a year, and I'll defer the rest of it,' there would have been less of an uproar,'' Hodgson, the compensation expert, said. ``But they've given us this kind of flash of disclosure without any detail or history about where this came from. They haven't really done themselves any favors and they've brought down a fair amount of reproach.'' " Posted on Sat, Aug. 30, 2003 bayarea.com