December 3, 2006

You won't hear this in the US news: Nasdaq chief lacks skills in economics

Bob Greifeld, the chief executive of the Nasdaq stock market, admitted under oath that he did not understand how to calculate gross profit margin, one of the most rudimentary formulas in business accounting. The admission is humiliating for Mr Greifefld, an MBA graduate who is in the thick of a hostile bid to take over the London Stock Exchange

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life is absurd