Famed Silicon Valley lawyer Larry Sonsini could become the interim chairman of the New York Stock Exchange later today.
Sonsini, the chairman of Palo Alto law firm Wilson, Sonsini, Goodrich & Rosati, would replace Richard Grasso, who resigned today following weeks of outcry over his $139.5 million pay package.
Wow! That's some interesting news. The San Francisco Chronicle reports it here.
UPDATE: Law.com weighs in here. (And Charlie Rose had Larry Ingrassia of the Wall Street Journal and Floyd Norris of the New York Times on tonight, and neither of them seemed to take Sonsini seriously, labeling him as an "outsider" with "issues," such as the fact that all the companies on whose boards he serves are listed on the NASDAQ, and not the NYSE. It seems that the New York Stock Exchange may have an interesting little slap contest going on here . . . .)
UPDATE: Sonsini declined the position, as The Recorder reports here.