Back in Business (Or at Least Trying)

Newsweek, October, 2004 by Charles Gasparino

Former star stock analyst Jack Grubman was barred from the securities business last year for publishing fraudulent research. But that hasn't stopped him from using his old contacts to get back in business with a company he used to follow. NEWSWEEK has learned that Grubman recently met with officials at Verizon, the giant telecom company (which benefited from his positive research over the years), to pitch his services as a "consultant."

Grubman, through a spokesman, declined to comment. But Richard Nespola, CEO of the Management Network Group, said that he and Grubman jointly approached Verizon in May or June, pitching their expertise on "trends in telecommunications." Nespola says his firm has "no formal" arrangement with Grubman, but was relying on him "to open some doors." Nespola says a third party referred him to Grubman and said: "Jack is back in the industry and he's looking to use his contacts ...