Mr Spitzer claims that the bankers on this committee would have been reluctant to complain about Mr Grasso's excessive pay, since they had a clear incentive to getalongwithhim: he had a regulatory role and some influence over other regulatory bodies, such as the Securities and Exchange Commission (SEC).
There is no way that a 37 year old Harvard grad would be on the Motorola board unless Icahn had fought a proxy contest to gethim on (along with Bill Hambrecht in a 2008 agreement).
"We're hoping that will get us a nice wave from him and we'll get some people singing alongwith us, " says McGowan, who served in the Marines from 1964-68, including a tour in Vietnam.