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Get rich quick, no brains, no effort
Old 07-26-2005, 04:46 PM   #1
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Get rich quick, no brains, no effort

As reported by newsoftheweird.com and reported by the Salt Lake Tribune (second story down):
http://www.sltrib.com/nationworld/ci_2890666

Leading economic indicators: In June, Co-President Stephen S. Crawford of the financial giant Morgan Stanley (who was installed in the job in order to ensure management ''stability'' during the company's currently shaky status with investors) signed a two-year contract at $16 million a year which allowed him, if he changed his mind, to resign and promptly collect all $32 million. A few days later, he resigned. The ''stability'' was needed at faltering Morgan Stanley because longtime CEO Philip J. Purcell had just been eased out, but his contract called for $113 million in severance pay.

--

Well, arguably it takes both brains and effort to score a deal like that.

:P

I hope he can live off his 1.28 million annual 4% SWR.

I wonder how much Hufu that would buy (first story, same link).
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Re: Get rich quick, no brains, no effort
Old 07-29-2005, 04:36 AM   #2
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Re: Get rich quick, no brains, no effort

Quote:
Originally Posted by amy
As reported by newsoftheweird.com and reported by the Salt Lake Tribune (second story down):
http://www.sltrib.com/nationworld/ci_2890666

Leading economic indicators: In June, Co-President Stephen S. Crawford of the financial giant Morgan Stanley (who was installed in the job in order to ensure management ''stability'' during the company's currently shaky status with investors) signed a two-year contract at $16 million a year which allowed him, if he changed his mind, to resign and promptly collect all $32 million. A few days later, he resigned. The ''stability'' was needed at faltering Morgan Stanley because longtime CEO Philip J. Purcell had just been eased out, but his contract called for $113 million in severance pay.

--

Well, arguably it takes both brains and effort to score a deal like that.

:P

I hope he can live off his 1.28 million annual 4% SWR.

I wonder how much Hufu that would buy (first story, same link).
Who is guarding the safe at Morgan Stanley? And who wouldn't immediately resign?
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