Sunday links: urge to merge
Just a few items today. Please note we have undertaken some spring cleaning on the site including changes to our blogroll.
That should not be all that surprising considering the valuation levels at the exchanges. Jenny Anderson at the New York Times notes the growing froth in the sector including valuations that are at least double that (on a P/E basis) than the market as a whole. (via NakedShorts)
The NYX Group may have good reason to try and merge at this point. breakingviews in the Wall Street Journal cite the growing competition they are facing from all-electronic rivals for volume in their own listings.
Zheng Jin also in the Wall Street Journal reports the London Stock Exchange is going to make a push to attract additional listings of Chinese companies.
Jad Mouawad in the New York Times reports on the grossly excessive pay package Lee R. Raymond of Exxon Mobil (XOM) received for his tenure at the company. The "$144,573" per day he received is best characterized by one observer as, "It's entrepreneurial returns for managerial conduct…"
Timothy L. O'Brien also in the New York Times reports on the sustainability of poker a few years into the boom.
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