Greifeld party was “over-the-top on steroids,” planner says

October 11, 2007

greifeld.jpgBob Greifeld, Chief Executive of Nasdaq Stock Market Inc, does not seem like the sort to party hearty, but in 2004 he did. He organized a week-long trip to Ireland for more than 20 family members, which included custom-written songs, re-creations of a medieval village, and a gourmet menu designed to exclude cream and butter. There were 55 staffers to care for the guests.

Sound elaborate? Just ask the party planner who put it together. 

“That was over-the-top on steroids,” Gregory Patrick told the Reuters Wealth Management Summit. patrick.jpg

Just finding a lead chef took 75 hours, Patrick said.

The event cost about $611,000, Patrick said.

More details on the event can be found in this Times of London story. The party is long over, but arguments about how much Greifeld has to pay continue. Patrick argued he was owed cost plus a gross profit margin of 38 percent, which amounts to cost plus 62 percent. Greifeld argued that he thought he owed cost plus 38 percent, and that Patrick refused to give him the DVDs documenting the event until Greifeld paid what Patrick said was owed. A New Jersey state judge ruled that Greifeld did not have to pay more money and Patrick had to turn over the DVDs, but Patrick is appealing that ruling.

Steven Cohen, a lawyer for Greifeld at Wachtel & Masyr in New York, said the written contract did not corroborate Patrick’s claims.

 

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