Macromedia merges with Adobe Software

Two major players in the graphics software industry will soon become one. Macromedia have agreed to be acquired by Adobe in a $3.4 billion deal.
Macromedia to merge with Adobe
"How that will pan out remains to be seen. It's not hard to imagine Macromedia's alternative to Adobe Illustrator, FreeHand, being phased out, for example. But Macromedia's ownership of Flash, the de facto web animation standard, when combined with Adobe's PDF e-document format, and the authoring tools that go with both media, will position the merged company as a powerhouse for graphics and publishing, both physical and electronic, going forward." the register

Dick Grasso Payout

Two years after the former New York Stock Exchange chief Dick Grasso fiasco over large sums of money being paid out, details have been released about what went on. So, why was Dick Grasso paid $US139.5 million by NYSE directors?..
Report Sheds Light on Grasso's Pay
"In the excerpts, the directors variously describe Grasso as an "A-plus" chief executive doing a "fabulous job," the "best CEO the Exchange ever had." They explain that part of the reason they paid him so much in cash was they feared he would leave for an organization that could offer him an even sweeter stock-options package."
And the man chasing Grasso for the obscene payout, New York Attorney General Eliot L. Spitzer believes..
"Grasso's pay was unreasonable under New York law for the head of a not-for-profit organization. He also contends that directors were kept in the dark about the full extent of Grasso's compensation and that Grasso manipulated his own pay through intimidation. Spitzer is demanding that Grasso repay the exchange at least $100 million."
There's more details at the Washington Post here..