Goshen News, Goshen, IN

Local News

October 21, 2013

Briefly

(Continued)

Nominations will be accepted through Nov. 30. $1,000 recipients will be selected weekly on the quantity and quality of entries received. Two $15,000 recipients will be selected from all entries received and announced the week of Dec. 14.

NEW YORK

Twitter’s IPO to get a dry run

The New York Stock Exchange isn’t taking any chances with Twitter’s initial public offering.

The Big Board said Friday it would allow trading firms to conduct a dry run of their systems to prepare for Twitter’s IPO. The NYSE test will occur on Saturday, according to a notice sent out to traders.

The exchange seems to want to avoid the technical problems that marred Facebook’s debut on the Nasdaq Stock Exchange in May 2012. The glitches were a major embarrassment for Nasdaq, and resulted in a big fine.

The micro-blogging service is expected to go public sometime in November, possibly before Thanksgiving. It will trade under the ticker “TWTR” on the NYSE.

Twitter’s IPO is the biggest technology debut since Facebook’s. While Nasdaq won Facebook’s listing, one of the biggest IPOs in years, the debut was hit with trading delays and order failures. As a result, the Securities and Exchange Commission in May fined Nasdaq $10 million, the largest ever levied against an exchange.

Twitter said last week that it had chosen to list with the NYSE over rival Nasdaq.

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Last weekend (July 12) the Goshen Parks Department held its Kid’s Try-athlon to promote childhood fitness and this week (July 18) the new bicycle trail is open to the fairgrounds in Goshen, offering residents a healthy way to get to the annual agriculture exposition. Have you joined the local fitness movement?

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