Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Donner Minerals (DML.V) -- Ignore unavailable to you. Want to Upgrade?

To: Buckey who wrote (9974)	12/5/1998 9:32:00 PM
From: Clark Kent	Respond to of 11676

Congrats to John Woods at STOCKWATCH and others for their victory. The following can be found at vancouversun.com VSE bows to pressure over news releases The Vancouver Sun William Boei, Sun Business Reporter Vancouver Sun The Vancouver Stock Exchange has abandoned a plan to hand Canada NewsWire a monopoly for disseminating listed companies' news releases. The VSE, under pressure from Canada NewsWire's competitors, said Friday it will stick to its old policy of leaving listed companies "at liberty to choose their own methods" for getting news releases to the public. Several of CNW's competitors had complained to the B.C. Securities Commission, which put the new VSE policy on hold and scheduled a hearing for early next year. One competitor, Canada Stockwatch, had filed suit in B.C. Supreme Court accusing the VSE of unlawful restraint of trade, complained to the federal Competition Bureau and commissioned a poll that found 84 per cent of VSE companies strongly opposed the new policy. The VSE said in a statement it consulted "a wide range of market participants" after the commission put its plan on hold. "Given their concerns, the VSE concluded the appropriate course of action was to withdraw the policy," the exchange said. CNW president Tom Enright pointed out his company had been "invited to the table" by the VSE and signed an agreement in July to disseminate listed companies' news releases. Asked about the status of that agreement, he said, "We've reached an amicable settlement and we're ready to move on." He would not disclose terms of the settlement, saying CNW is a private company. VSE communications director Pam Whitworth said the terms were confidential. Enright said he wishes the debate about VSE policy could have focused on listed companies being able to reach a wider audience through CNW, Canada's largest commercial news-release network. He said the door is open for VSE companies "to heighten their level of awareness with investors" by dealing with CNW. Enright resisted the notion his company was being handed a monopoly. "This was not a monopoly situation," he said, arguing VSE companies could have distributed releases to free services such as Stockwatch and Market News in addition to CNW. An official of Canadian Corporate News said companies that charge to circulate news releases -- including CCN -- would have lost VSE business. "We are a direct competitor of Canada NewsWire and certainly they would have created a monopoly," said Judy Hutchins, senior vice-president for CCN's western region. Hutchins was pleased the VSE had found "the best solution" and abandoned the plan. "We can get on with business now," she said. Stockwatch editor John Woods thinks the main reason the VSE changed its mind is that its listed companies "persuaded the exchange to see the light and do what was right." Woods said VSE officials had displayed "pig-headedness" but finally had no choice but to bow to the companies. "Ultimately, a stock exchange simply is its listings. If its listings raise hell, the administration has to listen." Woods said he now expects the commission to cancel its hearing, but Stockwatch will put its court action on hold rather than abandon it. "Should the exchange come back with a similar bright idea in the future, we would revive the lawsuit." Whitworth, asked if the VSE had made a mistake, said the new policy had been "a good idea, [but] not great timing." "In hindsight, we would canvas input from a broader segment of the market." Whitworth said the VSE has no plans to introduce similar policies "in the near future," but added: "We can't predict market demands in the long run."