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Gold/Mining/Energy : SI Poster Receives Gag Order From TSE
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To: Adrian du Plessis who wrote (25)6/9/1998 9:13:00 AM
From: John Sladek   of 52
 
Adrian:

Good post. Here's some more insights into how Bay St. officials think:

Also from the May 17 article [ canoe.ca ] ''When the Bre-X Minerals Ltd. debacle began to crash the TSE's computerized trading system in late March, its president and chief executive immediately reassured investors that the debacle wouldn't hurt the 119-year-old exchange. "The reputation of the Toronto Stock Exchange is unblemished," Fleming insisted. Back at the TSE, though, staffers were on the phone to Manhattan-based Abernathy MacGregor Group Inc., a crisis management public relations firm hired to assess the damage Bre-X had inflicted on the exchange on Wall Street. ''

Another from a May 29 article in the post

"The Wall Street Journal ran an article May 22 under the headline 'Toronto Stock Exchange is Blushing Again.' 'This time, damage to Canada's biggest stock exchange's reputation stems from YBM Mannex' the paper said. The New York Times was no kinder 'The events have raised questions about ... the reliability of the Toronto Stock Exchange' it said on Wednesday".

To me, Rowland Fleming's approach seems to be: deny that the problem exists, hire a publicity firm to do damage control, and use "litigation freeze" to silence your most informed critics. In my opinion, it would be a lot better for the exchange if its president spent his energies trying to _solve_ its problems - right now it looks to me like he's using heavy-handed tactics to try to _hide_ the exchange's problems. Maybe Mr. Fleming doesn't yet realize that with the internet, keeping the cat in the bag, is a lot more difficult than it ever was before?

I support Porter Davis right to free speech.

Regards,
John Sladek
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