As those of you who follow the news out of Newport Beach, California know, the past couple months have not been the best for Bill Gross. First, Pimco co-CEO Mohammed El-Erian announced that he would be parting ways with the bond giant. Then, the Wall Street Journal detailed his “What the fuck are you looking at” management style, in an article that also revealed Gross’s nickname for himself: Secretariat. Next, Reuters refused to print his theory that El-Erian had penned the Journal story himself, and instead made him not look great by quoting him as saying that El-Erian was waging a campaign to undermine him and that ME-E had Reuterswrapped around his charming right finger.” Along the way, people have offered up suggestions re: how you solve a problem like Bill Gross, which have included not investing with him, slashing his $200 million/year salary, teaching him remedial strategies for acting like a sentient human being who would not admonish someone for daring to look him in the eye and, most recently, putting him out to pasture.

So what should Bill be paid? “Nothing,” believes one senior executive at a rival investment house, who asserts – like many others – that it is perhaps time for Mr Gross to part ways with the company he set up in 1971. “He needs to walk,” he says. A senior adviser at a competing US asset manager adds: “Personally, I find it wholly inappropriate that any one person should take home such a staggeringly large amount in any business. He is now 69 and in many industries this is regarded as being beyond retirement age.”

Secretariat, for example, only worked until he was 19.

Bill and his Grossly ‘indefensible’ salary [FT]

14 comments (hidden to protect delicate sensibilities)
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Comments (14)

  1. Posted by Quant me maybe ... | March 24, 2014 at 3:27 PM

    Gross is a total power player. If I'm interpreting that picture right — 2 Bloomberg terminals, a PC, a Sun Workstation, his own color printer and no way to get out of his workspace.

    > Now that's old school.

  2. Posted by Guest | March 24, 2014 at 3:29 PM

    to be fair to BG, at least he's paying the top tax rate on the $200mm as opposed to Buffett who takes home $100,000 and tax breaks the rest. at least BG is paying for 2000 teachers in tax whereas Buffett….

  3. Posted by BNP Paribas HR | March 24, 2014 at 3:32 PM

    Fuck this guy.

  4. Posted by Guest | March 24, 2014 at 3:33 PM

    Secretariat still had immense value after he retired because of his breeding rights. He sired as many as 600 foals. Something for Bill to consider.

  5. Posted by Guest | March 24, 2014 at 3:36 PM

    Anyone who gives themselves a nickname is a tool. End of story. He strikes me as the type of guy who has his name sewn into his underwear

  6. Posted by guest | March 24, 2014 at 3:37 PM

    COTD.

  7. Posted by guest | March 24, 2014 at 3:37 PM

    Gross!

  8. Posted by Quant me maybe... | March 24, 2014 at 4:26 PM

    What about every guy who gives his tool a name?

  9. Posted by Barbaro | March 24, 2014 at 4:30 PM

    Bill- Do NOT go to Preakness this year. I've lived this story, it ends poorly!

  10. Posted by Mr. Ed | March 24, 2014 at 4:32 PM

    Hay!

  11. Posted by Guest | March 24, 2014 at 5:04 PM

    Bill Gross + Grasp of Convexity = Charlie Sheen

  12. Posted by guest | March 24, 2014 at 5:18 PM

    This greedy old fart needs to retire. What's the point of working once you've accumulated some much capital? I'll tell ya, greed is killing this nation. Sickening.

    -C. Icahn

  13. Posted by Learn To Urn | March 24, 2014 at 11:55 PM

    19 years of work is 18.9 years longer than Bill. Once you've made $200 million there is no slash, only maybe a small slice. His Gross income?

  14. Posted by Close but no cigar | March 25, 2014 at 12:25 AM

    Minus, dumbass.