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THE NYSE Thread (merged)

Discussions about the economic and financial ramifications of PEAK OIL

THE NYSE Thread (merged)

Postby BabyPeanut » Mon 28 Mar 2005, 17:25:33

Key Energy Nearly De-listed from NYSE History
$this->bbcode_second_pass_quote('', 'I')n less than 10 years, Key Energy Services was transformed from a company with fewer than 50 working rigs into the largest land-based well services company in the country. The management team assembled the largest fleet of oilfield service vehicles in the United States. Rounding out the plan to be a total service provider was the company's acquisition of Q Services, Inc. in Jul 2002, which gave the Company a Pressure Pumping division and strengthened its position in the Fishing and Rental Services market.

link
$this->bbcode_second_pass_quote('', 'K')ey Energy Services Inc. said Monday that it will miss the filing deadline for its 2003 annual report as it continues to work on restating earnings, putting the contract oil driller and well servicer in danger of delisting from the New York Stock Exchange.
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Big foreign companies delisting themselves from NYSE

Postby Euric » Wed 26 Sep 2007, 00:04:03

Big foreign companies delisting themselves from NYSE USA Today

Big foreign companies, mostly from Europe, are saying non, nein and nee to being listed on U.S. exchanges.
A surge of foreign companies, including Bayer, British Airways, BASF, Ducati and Royal Ahold, are bidding adieu to U.S. markets and their American depositary receipts.
Having a ticker symbol on U.S. exchanges used to carry cachet for foreign companies. But lackluster trading in many foreign listings and a feeling the costs of having a stock listed in the USA aren't worthwhile is sparking an exodus.
Already this year, 34 foreign companies have delisted from the New York Stock Exchange, and nine more have announced they plan to do so, says the exchange. That tops the 21 foreign companies that have joined the NYSE this year. Another 20 have said this year they plan to leave the Nasdaq or have done so already.
"There are companies lining up to exit U.S. capital markets," says James Angel, professor of finance at Georgetown University.

Others:
link 1 and link 2 and link 3

CHEMICALS: BASF to leave NYSE
German chemicals group BASF hopes to save $6.85 million a year by delisting from the New York Stock Exchange to focus share trading on Frankfurt, London and Zurich from the beginning of September, the Financial Times reported on its Web site in August.

The firm joins a steady stream of foreign companies abandoning U.S. listings.
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Re: Big foreign companies delisting themselves from NYSE

Postby MrBill » Wed 26 Sep 2007, 03:43:48

You can thank the financial burden of Sarbanes-Oxley, The Patriot Act and the long arm of over zealous tort lawyers as well as public prosecutors like Eliot Spitzer for the exodus of foreign companies from US public listings as well as the trend towards private equity.

US law makers are right now trying to pass absurd laws to punish foreign companies that do business in or with Iran. They have no concept of regulatory or legal over-reach. They should concentrate on getting their own financial house in order instead of trying to interfer in others business.

This just makes America a less attractive place to do business or to invest. That in turn exacerbates global financial imbalances. It is a wholly self-inflicted wound.
The organized state is a wonderful invention whereby everyone can live at someone else's expense.
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Re: Big foreign companies delisting themselves from NYSE

Postby TommyJefferson » Wed 26 Sep 2007, 06:19:34

$this->bbcode_second_pass_quote('MrBill', 'Y')ou can thank the financial burden of Sarbanes-Oxley, The Patriot Act and the long arm of over zealous tort lawyers as well as public prosecutors like Eliot Spitzer

Interesting Euric & Mr. Bill. Thanks.
link Another piece of the Rise & Fall of the American Empire puzzle. I'm looking for a historical analogy.
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Re: Big foreign companies delisting themselves from NYSE

Postby Tyler_JC » Wed 26 Sep 2007, 11:48:36

$this->bbcode_second_pass_quote('MrBill', 'Y')ou can thank the financial burden of Sarbanes-Oxley, The Patriot Act and the long arm of over zealous tort lawyers as well as public prosecutors like Eliot Spitzer for the exodus of foreign companies from US public listings as well as the trend towards private equity.
US law makers are right now trying to pass absurd laws to punish foreign companies that do business in or with Iran. They have no concept of regulatory or legal over-reach. They should concentrate on getting their own financial house in order instead of trying to interfer in others business.
This just makes America a less attractive place to do business or to invest. That in turn exacerbates global financial imbalances. It is a wholly self-inflicted wound.

I agree 100%. Sarbanes-Oxley simply went too far. Private equity has surpassed "going public" as the path to riches for most business owners.
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Re: Big foreign companies delisting themselves from NYSE

Postby Twilight » Thu 27 Sep 2007, 14:16:49

$this->bbcode_second_pass_quote('MrBill', 'Y')ou can thank the financial burden of Sarbanes-Oxley, The Patriot Act and the long arm of over zealous tort lawyers as well as public prosecutors like Eliot Spitzer for the exodus of foreign companies from US public listings as well as the trend towards private equity.

US law makers are right now trying to pass absurd laws to punish foreign companies that do business in or with Iran. They have no concept of regulatory or legal over-reach. They should concentrate on getting their own financial house in order instead of trying to interfer in others business.

This just makes America a less attractive place to do business or to invest. That in turn exacerbates global financial imbalances. It is a wholly self-inflicted wound.

I agree completely. The unilateral sanctions thing is especially dumb. When one arm of a company has to watch its words when talking to another arm overseas, for fear of legal consequences, over a foreign policy matter that is purely domestic and has no endorsement in international law, that's pretty stupid. The boutique export control paperwork alone must be an onerous burden these days, not to mention being frankly insulting to deal with. I think many multinational companies will continue to relocate more of their operations to countries with lower regulatory burdens. Don't get me wrong, some financial and environmental regulation is necessary to keep people honest, but when it is explicitly designed to serve a third party's political interests? Fuck that. What's the gain? What company wants that as a duty?
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Re: Big foreign companies delisting themselves from NYSE

Postby Baldwin » Thu 27 Sep 2007, 14:49:33

$this->bbcode_second_pass_quote('ferrelgiraffe', 'J')ust before ceasar augustus took power, the people hung all the senators and killed all the lawyers in Rome. They had an uprecidented 80 years of peace and enourmous growth after that.

Not all of the senators and lawyers. DOn't forget nero and Caligula though. Overall though, it was a happy time.

We really do not want generals to overthrow civil government. T. Jefferson would be spinning in his grave if he knew genuine, constitutionally grounded, freedom-loving Americans want a militayr coup. If we allow enterprising generals to depose the government, we just become a gigantic tin-pot dictatorship in the fashion of some Latin American countries (though it would be an example of karma).
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Re: Big foreign companies delisting themselves from NYSE

Postby Euric » Sat 29 Sep 2007, 00:25:57

$this->bbcode_second_pass_quote('MrBill', 'Y')ou can thank the financial burden of Sarbanes-Oxley, The Patriot Act and the long arm of over zealous tort lawyers as well as public prosecutors like Eliot Spitzer for the exodus of foreign companies from US public listings as well as the trend towards private equity.
US law makers are right now trying to pass absurd laws to punish foreign companies that do business in or with Iran. They have no concept of regulatory or legal over-reach. They should concentrate on getting their own financial house in order instead of trying to interfer in others business.
This just makes America a less attractive place to do business or to invest. That in turn exacerbates global financial imbalances. It is a wholly self-inflicted wound.

It seems that every move the US takes in an attempt to save themselves is working in the reverse. They may not realize it but they are accelerating their own doom and preparing the way for the EU to become the next super-power in the west and China in the east.

When you have lived high and mighty for so long and think you are better then everyone else, it is almost impossible to see your own destruction. But we are in the midst of it now. The eagle will soon be extinct.
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Re: Big foreign companies delisting themselves from NYSE

Postby Euric » Sat 29 Sep 2007, 00:45:35

$this->bbcode_second_pass_quote('MrBill', 'U')S law makers are right now trying to pass absurd laws to punish foreign companies that do business in or with Iran.

This is just another facet of American arrogance. They think they have immense power over the world and actually think that they still have control through dollar hegemony. They can't seem to grasp the fact that dollar hegemony is collapsing.

Because of the euro, the world is no longer controlled through the dollar. When the US forbids any institution in the world from using the US dollar in any form of trade with enemies of the state, the world need not feel threatened. All they need do is switch their business deals from using the dollar to using the euro and other currencies. The result is an ever sinking dollar.

What gets me is what is the US going to do if its "punishment" extends to companies that sell Iranian or Venezuelan oil. If companies like Royal Dutch Shell and BP end up on the list of "rogue companies", what would America do if these companies decide to punish America in return by cutting off the supply of fuel and in turn selling it to someone else?

How long would America be able to survive without oil from companies that do business in Iran, even if none of these companies brings one microlitre of Iranian oil to the US?
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Re: Big foreign companies delisting themselves from NYSE

Postby frankthetank » Sat 29 Sep 2007, 02:33:54

Big foreign companies can lick my ass. Sorry, but its true.
lawns should be outlawed.
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NYSE Eliminates Trading Curbs Dating Back to 1987

Postby roccman » Sat 27 Oct 2007, 12:25:02

"There must be a bogeyman; there always is, and it cannot be something as esoteric as "resource depletion." You can't go to war with that." Emersonbiggins
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Re: NYSE Eliminates Trading Curbs Dating Back to 1987

Postby greenworm » Sat 27 Oct 2007, 13:01:06

I was thinking about this yesterday when I watched CFC take off to the moon, after lunch time it was obvious that the stock sales were computer generated, i.e. went into a little buy,buy,buy algorithm. The whole thing is a mirage. Pretty funny to watch.
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Re: NYSE Eliminates Trading Curbs Dating Back to 1987

Postby Plantagenet » Sat 27 Oct 2007, 13:10:12

The market needs more curbs on panic selling, not less. 8)
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Re: NYSE Eliminates Trading Curbs Dating Back to 1987

Postby evilgenius » Sat 27 Oct 2007, 18:37:03

Do you think the curbs come back the day after we test a thousand on the downside?
When it comes down to it, the people will always shout, "Free Barabbas." They love Barabbas. He's one of them. He has the same dreams. He does what they wish they could do. That other guy is more removed, more inscrutable. He makes them think. "Crucify him."
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Re: NYSE Eliminates Trading Curbs Dating Back to 1987

Postby peaker_2005 » Sat 27 Oct 2007, 18:38:04

IMHO this is the surest sign they're preparing to crash the system yet. Either that or they're amazingly stupid.
"Human beings, who are almost unique in having the ability to learn from the experience of others, are also remarkable for their apparent disinclination to do so." - Douglas Adams
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Re: NYSE Eliminates Trading Curbs Dating Back to 1987

Postby Tyler_JC » Sat 27 Oct 2007, 20:49:56

Did anyone actually read the article?
$this->bbcode_second_pass_quote('', '[')b]The curbs applied only to some index arbitrage trades on stocks in the Standard & Poor's 500 Index executed at the Big Board. Brokerages weren't barred from turning to rival exchanges to complete those trades.
Increased electronic trading has also made arbitrage strategies a smaller piece of daily equity trading, the NYSE said in the filing. Index arbitrage strategies accounted for about 4.6 percent of the total shares bought or sold at the NYSE, according to data on its Web site.

They didn't get rid of all restrictions on stock market activity and the restrictions that they removed applied to less than 1/20 of total activity.

So...this is a non-event.
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Re: NYSE Eliminates Trading Curbs Dating Back to 1987

Postby peaker_2005 » Sun 28 Oct 2007, 00:55:32

$this->bbcode_second_pass_quote('Tyler_JC', 'D')id anyone actually read the article?$this->bbcode_second_pass_quote('', '[')b]The curbs applied only to some index arbitrage trades on stocks in the Standard & Poor's 500 Index executed at the Big Board. Brokerages weren't barred from turning to rival exchanges to complete those trades.
Increased electronic trading has also made arbitrage strategies a smaller piece of daily equity trading, the NYSE said in the filing. Index arbitrage strategies accounted for about 4.6 percent of the total shares bought or sold at the NYSE, according to data on its Web site.
They didn't get rid of all restrictions on stock market activity and the restrictions that they removed applied to less than 1/20 of total activity.So...this is a non-event.

Doesn't change the fact that it's a stupid move. :oops:

I also said preparing... I suspect this won't be the last restriction removed before the year's out.
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Re: NYSE Eliminates Trading Curbs Dating Back to 1987

Postby Novus » Sun 28 Oct 2007, 10:25:37

I think a massive stock crash is being engineered by the powers that be. The rich bankers and controllers of the world want to wipe out the middle class in one hour and jet off to Dubai or some other rich playground before the sheeple realize their 401k's and IRA's and everything else they have worked their entire lives for has been wiped out.
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Re: NYSE Eliminates Trading Curbs Dating Back to 1987

Postby idomar » Sun 28 Oct 2007, 11:14:09

$this->bbcode_second_pass_quote('Novus', 'I') think a massive stock crash is being engineered by the powers that be. The rich bankers and controllers of the world want to wipe out the middle class in one hour and jet off to Dubai or some other rich playground before the sheeple realize their 401k's and IRA's and everything else they have worked their entire lives for has been wiped out.

Not to mention, swoop back in and buy up lots of stock for virtually nothing, a nice easy way to gain even more control, they really dont want small shareholders in their midst, they are expensive to administer, a few large shareholders is a much better idea. they just consumers that will pay for crap so they can get their dividends
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