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To: Bob Kim who wrote (145639)	8/17/2002 7:58:32 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

"It appears that for that clause to work, Citigroup would have had to fire him with cause. He and his company have never admitted they've done anything wrong." Bob, Good point. I am sure they have not done anything wrong;-) "In any case, Grubman's research product was approved, endorsed, and issued for public consumption by his firm so the firm is the responsible party." Would that be similar to a Blodget scenerio with Merrill?

To: Bob Kim who wrote (145639)	8/17/2002 9:17:50 PM
From: Victor Lazlo	Respond to of 164684

" In any case, Grubman's research product was approved, endorsed, and issued for public consumption by his firm so the firm is the responsible party. " One of the most interesting legal actions to me right now is the suit brought by a fmr C stock broker. This broker claims that Grubman was so powerful in C, that he was able to allocate hot IPO shares to his telcom co exec clients in return for underwriting business, and in doing so, Grubman deprived the broker's clients of attractive IPO shares they wanted. I can't wait to see where this one goes. Victor