Dick Grasso’s story ought to be uplifting, said Greg Farrell in USA Today.
Richard GrassoDick Grasso’s story ought to be uplifting, said Greg Farrell in USA Today. Grasso—who was ousted from the CEO spot at the New York Stock Exchange in 2003 amid a furor over his $187 million pay package—is the subject of a new book, King of the Club, by CNBC’s Charles Gasparino. Written at the urging of Grasso and his supporters, it’s “a rags-to-riches tale of a kid from Queens” who works his way to the top of the world’s premiere stock exchange. But in this telling of his life story, Grasso bristles with resentment at almost everyone he encountered during his career, including Grasso’s predecessor and “polar opposite,” William Donaldson. Grasso originally considered the patrician Donaldson “the perfect boss,” but the two eventually fell out, with Grasso “undercutting him behind his back and playing childish tricks designed to humiliate him.” The irony is that in a book written to restore his reputation, Grasso still emerges “as a greedy, imperious character who turned the NYSE into a vehicle for his own enrichment and self-aggrandizement.”