Thursday, December 20, 2012

Main Street v. Peach Tree Lane

After all, tomorrow is another day, Wall Street, and for the right price they'll sit under the buttonwood tree with anyone else;
The New York Stock Exchange is being sold to a little-known rival in Atlanta for about $8 billion, ending more than two centuries of independence for the iconic Big Board.
As NYSE stockholder Peter Costa put it;

"The trading floor, while iconic, may seem to be an anachronism in this high-speed world of electronic this and electronic that, but it still survives because the customers that use the trading floor still see the added value of having some human intervention," Costa said in an email.
Costa, also an NYSE stockholder, said while that the premium that ICE was paying was not as high as he would have liked, it was "still fairly generous."

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