By Dominic Jones | Published: December 12, 2006 | 
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News Digest for December 12, 2006
There are 6 items … Objectivity of a Rating Questioned | Off to The NYSE For Red Hat | Cheap Trades Threaten Brokerages | Google Finance Gets Makeover | Strike Before Mandates Level XBRL Playing Field | SEC Urged To Delay ‘E-Proxy’ Vote Until 2007
Objectivity of a Rating Questioned
Standard & Poor’s made at least 48 changes to a report on a utility company’s financial health, at the company’s request, before releasing the document.
Off to The NYSE For Red Hat
“You generally associate NASDAQ with technology, and NYSE wants to change that, with emerging technology companies like salesforce.com already on NYSE and now Red Hat,” Dion Cornett, vice president of investor relations at Red Hat, told internetnews.com. “Next-generation types like us are on NYSE and the legacy guys like Oracle and Microsoft get left behind on NASDAQ.”
Cheap Trades Threaten Brokerages
The online brokerage market is suffering from slow growth and intensifying competition. Online traders are expected to increase at a 4 percent compound annual growth rate over the next five years. Only 6 percent of customers with online banking accounts have a brokerage account with their bank.
Google Finance Gets Makeover
Google Finance, with just 579,000 unique visitors in October lags well behind Yahoo Finance, with 13.7 million unique visitors during the same period, according to Nielsen Net Ratings.
Strike Before Mandates Level XBRL Playing Field
The minute the SEC issues a mandate, everyone will have to get wise to the standard, and that will just level the playing field. Now’s the time to take advantage!
SEC Urged To Delay ‘E-Proxy’ Vote Until 2007
Poor, elderly, rural and minority investors could be harmed by such a plan, the Leadership Conference on Civil Rights warned in a Dec. 8 letter to SEC Chairman Christopher Cox, released Monday. The group estimated that up to one-third of investors could be disenfranchised under the SEC’s approach and urged it to delay the matter until 2007.
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- At Google Finance, Google’s profit miss not news
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