Even if the sales were entirely lawful, these practices raise serious governance concerns and suggest that senior executives may be operating on a short-term horizon.

We remain concerned about a culture of generosity of executive pay at Morgan Stanley.

Every week the state puts out a new sales tax permit report that you can ask for sorted by ZIP code. We get a copy of that report to make sure that new folks coming into the city are reporting to the correct city. Every week there's an error.

Over twenty years, we expect to generate about $80 million or more in sales tax revenue.

What the town agreed to do, was share 45% of the sales tax revenue generated by the businesses there, with the developer, for about 14 years.

The city isn't going to be the scapegoat for why this program went away. The local option sales tax was sold to us with the understanding that this money would be shared with the city and we have yet to see that happen.