CAPITALIST GREED

October 5, 2003 on 11:52 pm | In Newspapers, Times of India | No Comments

Dick Grasso is one of the most competent leaders that the famous New York Stock Exchange (NYSE) has had in decades, but he resigned on September 17 because they discovered that he had been paid a shockingly-high salary. When I read about his $140 million salary and benefits, I thought it must be a misprint, but the obscene figure turned out to be true, and even I, a votary of free markets, winced. The head of California Teachers Retirement System (Calpers) told us that it would take an average American 5,200 years, working 40 hours a week, to make the same money. The Wall Street Journal reported that even his 2002 base salary (without benefits) of $12 million was greater than the combined pay of the heads of nine top stock exchanges around the world. Continue reading…

We Could Do With More of Saying Less

October 2, 2003 on 11:53 pm | In Newspapers, Times of India | No Comments

The following appears in honour of brevity, the defining characteristic of leaders. And of The Times of India Speednews, a new edition of The Times of India that packs in more news, in a concise form. For astute, time-pressed readers who demand a quick uptake. Continue reading…

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