>>65
It isn't old, as a verb it means "to be happy". For example, "я рад" (= "я счастлив") and means "I'm happy". The greeting is "[Я] [очень] рад вас видеть" without "что" — literally "[I'm] [very] happy to see you", words in square brackets can be omitted.

Adjective for "рад" is "радостный", "happy". "Rad" is an abbreviation of "radical" (i.e. "cool").

But otherwise it's a funny observation.