Gross Error?

Here’s a great story from the London Times.  In a recent trial, Bob Greifeld, the CEO of the Nasdaq stock exchange, admitted under oath that he doesn’t know how to compute gross profit margin.  The lawsuit involved a Greifeld family reunion.  The tour operator had contracted to provide the trip at cost plus a 38% gross profit.  Apparently confusing gross profit with markup, Greifeld was disputing the cost of the trip.

After admitting that he doesn’t know how to calculate g.p., Greifeld told the court, "I have accountants who do that for me."

Greifeld holds a Masters in Business from New York University, Stern School of Business.

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