Perhaps one of the reasons I get along with the husband so well is his great sense of sarcastic humor.
This morning he said "It's like rearranging deck chairs on the titanic".
Today's paper reported the NYSE warned his workplace they may be removed from the Stock Exchange because it's share price & capitalization are too low. Fancy finance talk that they are not making enough money to be a player in the Stock Market.
The NYSE listing standard requires that a listed stock maintain an average closing price of more than $1 per share for more than 30 consecutive trading days. The share price closed at .63 cents on Monday. The exchange requires a minimum listing criteria of $25 million. On Monday, the market cap was $19.2 million, which would normally result in immediate suspension.
Last month Fleetwood Industries was delisted because it didn't meet the requirements. Last year the NYSE delisted 129 companies for dipping below it's standards, the highest # since 2003.
They hired an investment banker to explore strategic alternatives. (Register Guard)
Right now that "strategy" has him, and the majority of the employees in the unemployment line.
That would explain the .03 cent dividend check we recieved a while back.
We have no other updates other than things like this we hear in the news.
If Fleetwood is having trouble, it is a sign the whole industry is struggling.
Now, how to arrange those deck chairs.......