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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (6500)	10/21/2000 6:49:14 AM
From: RockyBalboa	Respond to of 19428

Floyd, the nasdaq policymakers and cronies should read the piece about the rise and the fall of the Vancouver Stock Exchange. If they do nothing then the nasdaq as a whole, may suffer and lose its integrity. >>>>>>>>> Not too many years ago the shell business on Howe Street enjoyed a negative reputation. It wasn't just the media, most infamously Forbes magazine which crowned the Vancouver Stock Exchange "Scam Capital of the World" in 1989, but even local market supporters such as ex-Superintendent of Brokers Rupert Bullock were highly critical of the "flood of paper" swamping the VSE. From the mid-1980s to the early 1990s, numerous observers pointed out that by allowing a preponderance of shells, companies with no significant assets or business operations, to remain on its board, the VSE was open to continuing abuses. To raise standards and restore some of its lustre as the world's "venture capital capital" the VSE proposed a crack down on the trade in shells - promotional vehicles that have no real value apart from their listing status on a public exchange - and to focus on listing genuine junior companies with assets. But the VSE has lost much of its Canadian market share since the golden days of Hemlo and other mining successes. Long before Michael Johnson became president and brought his talk of "zero tolerance" to the exchange, the VSE's importance, relative to the country's other exchanges, had dwindled. In the early 1980s, the VSE captured 40 to 50 percent of Canada's overall share trading volume and between six and 11 percent of total value. By 1995 these numbers had shrunk to less than half, as the VSE accounted for 20 to 25 percent of overall volumes and only three to four percent of aggregate value. Even in the boom times of recent years, while markets worldwide have hit successive record highs, the VSE index has only managed to reach a level 35 percent below its previous peak of more than 2000 points. Today the index sits at only 621 points. <<<<<<<<<<<<<<<<<<<<<<<< imagenisp.com