We hear that there are “very early stage” talks about doing a movie on Fox Business News senior correspondent Charlie Gasparino’s 2007 book, “King Of The Club.”
We reached out to Gasparino and he sent us the following response: “your lips to God’s ears.”
Gasparino’s book is about the life and career of former NYSE CEO/Chairman Richard “Dick” Grasso, which is full of moments of celebration and controversy.
Sources say that Grasso is scared that a movie could be made based on the book.
Gasparino, who was working correspondent for CNBC at the time, had great access to Grasso and folks from his inner circle when he was writing the book. He portrayed both the positives and the negatives from Grasso’s career.
Here’s an excerpt from the New York Times’ Harry Hurt III’s review of the book:
“King of the Club” documents Mr. Grasso’s early years as a working-class youth from Queens who originally aspired to become a New York City police officer, only to fail the eye exam. Although he had almost no college education, Mr. Grasso managed to get a job in 1968 as an entry-level listings clerk at the New York Stock Exchange.
According to Mr. Gasparino, Mr. Grasso had a “chip on his shoulder” because he was short in stature (5 feet 6 inches), and because he was a hot-headed striver of Italian descent in a financial “club” dominated by WASPs and Jews. But he tutored himself in the exchange’s history and its operations with an unquenchable passion.
“For all his foibles, his bad temper and ego, Grasso understood what made the stock exchange work better than anyone else in the world,” Mr. Gasparino writes.
Following the September 11th terrorist attacks, Grasso was seen as a hero for reopening the stock exchange.
Just a couple years later, though, he became “the poster boy for overpaid chief executive,” Gasparino wrote in “King Of The Club.”
It was Grasso’s compensation package that led to his demise.
Following a spate of recent big corporate scandals (WorldCom, Tyco and Enron), it was disclosed that Grasso had been awarded a deferred retirement compensation package worth about $139.5 million.
A few weeks later, Grasso resigned after spending 36 years at the stock exchange. The same board that approved his compensation package pressured him to step down.
Sources say that Grasso is still worried about his image and that’s why he wouldn’t want a film to come out.
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