PhilEx to seek some answers to merger questions

Article Abstract:

The chairman of the Philadelphia Stock Exchange, Meyer S. Frucher, will holds discussions with the National Association of Securities Dealers (NASD) about the course of their merger talks. The talks have been going on for seven months. Mr. Frucher has expressed new concerns and frustrations over the slow pace of the proposed merger. Mr. Frucher said the NASD will have to decide about who would control trading and revenues for stock options that are currently handled by the exchange.

Comment:

Chmn Meyer S. Frucher to hold talks with NASD over proposed merger

Securities and Commodity Exchanges, Strategy & planning, Philadelphia Stock Exchange, Abstract, Philadelphia Stock Exchange Inc.

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Pa. to end 20-year control of insurer

Article Abstract:

The Pennsylvania Insurance Department is ready to end its control of a failed insurer after 20 years by paying all remaining claims and giving $2.3 million back to the company's former owner. In 1984 the Colonial Assurance Co. faced a $16.5 million deficit between its assets and its potential liabilities, yet the state liquidators closed that gap, after taking control.

Financial management, Organizational history, Finance, Company restructuring/company reorganization, Reorganization and restructuring, Company financing, Company organization, Insurance companies, Pennsylvania. Insurance Department

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