tag:blogger.com,1999:blog-1527840491496268397.post1189687744271955032..comments2024-03-08T11:20:30.095-07:00Comments on Credit Bubble Stocks: "NYSE REVIEWING CONTINUED LISTING OF LDK SOLAR CO"Unknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1527840491496268397.post-89552307551664642852014-03-30T11:31:18.778-07:002014-03-30T11:31:18.778-07:00What's amazing is that the entire fundamental ...What's amazing is that the entire fundamental purpose of the STP and LDK restructuring plans is to try to keep the NYSE listings so that bondholders have a ready market to dump their converted stock onto.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-41763678753478344622014-03-28T13:49:17.163-07:002014-03-28T13:49:17.163-07:00The NYSE listing standards are proving fairly elas...The NYSE listing standards are proving fairly elastic, as we saw in Suntech. Apparently if your stock trades at a high enough volume, all is forgiven.<br /><br />Here is what section 802.01D of the NYSE Listed Company Manual actually states: <br /><br />“The Exchange…may make an appraisal of, and determine on an individual basis, the suitability for continued listing of an issue in the light of all pertinent facts whenever it deems such action appropriate, even though a security meets or fails to meet any enumerated criteria. Other factors which may lead to a company's delisting include:<br /><br />• The failure of a company to make timely, adequate, and accurate disclosures of information to its shareholders and the investing public.<br />• Failure to observe good accounting practices in reporting of earnings and financial position…<br />• Unsatisfactory financial conditions and/or operating results.<br />• Inability to meet current debt obligations or to adequately finance operations”<br /><br />Oh, and the NYSE also states that “encouraging transparency in markets, setting high standards of integrity and governance…are exchange touchstones.” <br /><br />So apparently it's see no evil, hear no evil down at NYSE regulation, particularly if you are a Chinese solar company and you've been in default for 11 1/2 months.<br /><br />Rest easy folks, the NYSE has your back.MrGothamnoreply@blogger.com