CalPERS President Calls for Reed to Renegotiate NYSE Management Team Compensation.Business Editors SACRAMENTO, CA--(BUSINESS WIRE)--Oct. 10, 2003 Sean Harrigan, President of the Board of Administration of the California Public Employees' Retirement System (CalPERS) today issued the following statement about the compensation disclosure of the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Stock Exchange's (NYSE NYSE See: New York Stock Exchange ) Management Team: "I cannot comprehend the justification for the sharp increases in pay generated in the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?" midmost of the bear market. It would appear that these compensation packages come from the same school of greed that Grasso's did, and they are out of the ballpark when you compare them to the salaries of other exchanges in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . I would encourage Chairman Reed to immediately seek to renegotiate these contracts. I also want to reissue my call to the Securities and Exchange Commission to appoint an independent body to conduct a thorough examination of these and other issues involving the NYSE." |
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