Executive Perks

So two top bankers leaving Morgan Stanley have been paid not to join the camp trying to get rid of the MS CEO. Apparently Joe Perella (famous from old times as one half of the dynamic duo that propelled First Boston into an M&A powerhouse) and some guy called Terry Meguid, evidently another superstar, got paid $6.4mm apiece for leaving as long as they agreed not to join the eight former Morgan Stanley execs who are trying to get CEO Purcell ousted. In other words, the CEO is using the company's money to protect his own position. Oh well, just another example among many, I suppose...