As the New York Stock Exchange jumped from one success to another, Grasso's reputation also grew, and the compensation committee gave him an extremely generous remuneration package: $140 million. This compensation plan drew strong protests, eventually leading to Grasso stepping down in disgrace, bringing to an end his 36-year financial career on Wall Street. This also brings us to a broader topic: the New York Stock Exchange, the department ruled by Grasso for decades. It is one of the most important symbols of America, representing America's financial success and social miracles; it plays a key role in the market finance, making countless "American Dreams" possible. But few people really know about its internal operations, especially from the perspective of those who control it, such as Dick Grasso and those who drove him out of the financial world. Grasso was a tough, domineering boss. He kept his huge retirement pay hidden from the public; even the NYSE's technical owners—the 1,366 stockbrokers authorized to buy and sell stocks on the trading floor—were unaware of it. Because of concerns over the impact if the public knew the truth, Grasso did everything he could to receive his compensation before the board changed its mind under external pressure. Grasso's suspicion of his enemies sometimes bordered on paranoia. Those who didn't fully support him or failed to follow his rules were exiled one by one; those who openly opposed him fared even worse. From glory to destruction, but in fact, almost none of their life stories resemble those written by Horatio Alger. The vast majority of them came from middle-class families, attended top universities, and worked directly for large investment groups after graduation. Grasso completed all these requirements, which was his brightest moment, but also planted the seeds of his self-destruction. On Wall Street, greed is talent, power is a commodity, and risking billions of dollars is part of daily work. The prize is: controlling the world's most powerful financial institution, the New York Stock Exchange. Grasso, who came from a working-class community, started as a junior clerk and quickly stood out. In 1995, Grasso was promoted to Chairman and CEO of the New York Stock Exchange. At just 48 years old, his appointment rewrote the epic history of the NYSE chairman never being selected from the internal management. In the year 2006, 20.6 million documents were classified, six times more than during the Clinton era (3.6 million). Wood believes that "regardless of its impact on the regulatory work of national legislative bodies, too many secrets hinder the daily work of administrative departments due to government employees' difficulty in obtaining useful information." He pointed out ironically: this state of secrecy leads to counterproductive results - the more you try to hide, the more likely it is to leak. The word "transparency," like "courage" and "patriotism," carries a halo of lofty truth, and it's easy to overlook when making choices. Regarding this, writer Graeme Wood has a vivid description in the book "The Atlantic" - he analyzes the differences in how recent U.S. governments handle sensitive information. Evidence-based management requires business leaders to face hard facts and act based on the best evidence, winning success in competition. They take a rational skeptical attitude towards popular management concepts. To illustrate the dangers hidden in these concepts, the two authors dissect six widespread myths prevalent in core management areas, including leadership, strategy, change, talent, financial rewards, and the relationship between work and life. Pfeffer and Sutton explain to managers how to identify and adopt management ideas most suitable for their own companies instead of blindly following practices that seem feasible elsewhere. They propose a series of mentorship standards. Wood thinks that the Bush administration's commitment to confidentiality reached unprecedented levels. He said that this trend began during Ronald Reagan's presidency in 1982. In fact, this president had the philosophy: "If in doubt, classify it." Therefore, by 1985, 15 million documents were classified, far exceeding the number during Carter's presidency. Bill Clinton was a president who liked declassification, opening a new era - "If in doubt, disclose." Under George W. Bush's administration, the era of classification returned again. For example, "bloodletting therapy," which was popular in the West for a long time, was never questioned about its effectiveness. How to prove that "bloodletting" does not improve patients' conditions? This can only be done through long-term controlled experiments with different populations, excluding all possible influencing factors. Propose views on treatment based on evidence. The financial heroes of America create an open culture, evidence-based management is inevitable. On September 11, 2001, Grasso faced challenges unimaginable to other CEOs of the NYSE: how to save this global financial heart from the brink of death and get it running again. However, if we focus on these flaws, we would miss the fascinating rise and fall of one of the most famous figures on Wall Street and in American society. Including the CEOs of several major investment groups on Wall Street, they all like to tell stories of their journey from extreme poverty to immense wealth. As the core financial organization globally, the NYSE creates significant financial events while also being filled with power, greed, and struggles. Richard Grasso, the greatest CEO in the history of the NYSE, is a product marked by its unique imprint. Grasso's story from glory to destruction intertwines with the inside story of power struggles at the NYSE, helping you understand the high-level executives and core organizations on Wall Street, reflecting both the brilliance and stains of Wall Street. From financial giant to high-salary scandal, the end of a myth. Nearly legendary progress. Jeffrey Pfeffer and Robert Sutton show us a way: evidence-based management. Evidence-based management originated from evidence-based medicine. Following evidence in medicine is easy to understand, but early doctors relied mostly on experience. Of course, with continuous advancements in various technologies, the concept of evidence-based medicine has been widely promoted. The methods and ideas of evidence-based medicine have gradually spread to education and public policy fields. Before reaching the peak of his career at the NYSE and on Wall Street, Grasso climbed step by step from the bottom. He came from a poor background, received almost no college education, and originally hoped to become a police officer to realize his dream of a middle-class lifestyle, but was rejected by a vision test. After his dream of becoming a police officer was shattered, he found an entry-level job at the exchange, thus starting a legend on Wall Street, completing what seemed "impossible" tasks. He successfully transformed the position of NYSE chairman, once considered similar to a government post, into a "great job" with a salary comparable to that of corporate elites. Related thematic articles: LAFASO.COM - Intermediary agencies.