So there I was, 39 years old, and essentially hearing, here's $10 million and your history.
John Gutfried, managing partner of Wall Street's hottest firm, told me that my life at Salomon Brothers was finished.
It's time for you to leave, he said.
I was terminated from the only full-time job I'd ever known and from the high-pressure life that I loved.
This, after 15 years of 12-hour days and six-day weeks.
Out.
Fired.
Most of the 63 partners were asked to stay on as employees of the new company.
Not me, though, and a half a dozen other guys were pushed out at that time as well.
Was I sad on the drive home?
You bet.
But as usual, I was much too macho to show it.
And I did have $10 million as compensation for my hurt feelings.
If they had said, we had another job for you, I'd have done it in a second.
Just as I did at an earlier career turning point in 1979 when Billy
and John told me to give up my sales and trading responsibilities and supervise the computer systems area.
I was willing to do anything that they wanted.
It was a great organization and I would have been happy to stay.
I would have never left voluntarily.
Afterward, I didn't sit around wondering what was happening at the old firm.